Gayle Mitchell's History of Progressive Slots
Once upon a time, there were lottery tickets to build dreams on and then IGT, the slot manufacturer, with the loud approval of their casino clients, introduced the first progressive slot in March
Gayle Mitchell is the most recognized female expert of casino gambling and has written extensively and presented seminars about casino gambling since 1996. She is the author of the Casino Gambling Made Easier series of books, numerous E-Books, booklets and the Slots Trilogy. She is also the editor of five online gaming newsletters including Casino Players Ezine. Gayle's website is www.easycasinogambling.com of 1986.
This network of slots was connected locally, then expanded to participating gaming states, nationwide and now there is an international link that reaches into Canada, Europe and Asia.
IGT, always the vanguard in slotsland, was followed by Bally’s Thrillion series and Aristocrat’s Hyperlink systems. The many versions of progressive slots from these three manufacturers include familiar names like MegaBucks, Jeopardy, Wheel of Fortune, Quarter Million$ and Cash Express.
There are many more progressives to choose today as slot manufacturers pair the progressive version with a bonus slot release; e.g., Addams Family, Jeopardy, etc.
These versions are leased by the participating casinos that receive a small percentage, while the manufacturers maintain the equipment and pay out the ‘millionaire producing’ jackpots.
Some casinos place exclusive or proprietary slot progressives.
The big name at land-based casinos is MegaBucks, linked to casinos nationwide. You must play $3 to be eligible to win the millions.
The largest slot machine jackpot to date at a land-based casino of $39,713,982. was won on Friday 3/21/03 on an IGT Megabucks machine at the Excalibur in Las Vegas.
The winner, who requested anonymity, was a 25-year-old software engineer from Los Angeles. He said he had played about $100 on the machine when he turned his head away from it for an instant. When he looked at the machine again, the winning symbols had lined up.
Since the beginning, more than 250 millionaires have emerged thanks to IGT slots.
How do these ever-increasing jackpots grow? Well, approximately 10% of every dollar fed into the progressive slot goes directly to the primary jackpots awaiting the ‘magic winning touch’. Because of this feature, progressive overall payback percentages will not be as high as basic slots with a constant jackpot amount.
Eighty percent is not uncommon and the jackpot may be paid out over 20 years, instead of all at once.
Most players are not aware that there are two levels of progressive jackpots -- primary and secondary.
A ‘primary’ jackpot is the top prize award with the specific combination ‘hit’. In the case of Megabucks, these are the ‘Megabuck’ symbols that lined up correctly produce a bountiful payday.
This top jackpot is usually displayed with the biggest sign and numbers above the carousel or bank of machines.
Secondary jackpots are displayed on smaller screens mounted below the big screen of the primary jackpot. These are hit more frequently and therefore will not payout as large a sum of money.
Before playing any single group of progressives, check out the primary and secondary jackpots, and then compare other surrounding progressives to see how high those jackpots are relative to their starting amounts.
As for the online progressive slots, all major gambling software manufacturer include a bountiful variety of themed progressives whether it be single or multi payline.
Playtech, Microgaming, CryptoLogic and Boss Media have all stepped up with ever-growing progressives while bringing on new versions at regular intervals.
Thus, progressives online offer an attractive option to play for massive jackpots and bonus—you are paid ‘on the spot’—no waiting 20 years.
Several sites track progressive slot totals as they grow, including one of the best here at ReadyBetGo, so you can best determine the ideal bet. A simple search of the keywords, ‘largest progressive jackpot online’ gives players a variety of sites to search for the ‘big hit’.
After a progressive jackpot is hit, the meter automatically resets to the base jackpot amount.
Now to the future of progressives, most of which is happening already. I believe you will find that million dollar jackpots will become the norm and paid as an ‘instant win’ instead of a 20-year wait. Penny slots now offer up to $1 million jackpots with max coin in play.
As noted, online high-dollar progressives and jackpots are multiplying to the delight of all slot players and now offering jackpots as high as land-based casinos. If you like high stakes slot bets, you may want to check out the olybet website.
Have fun with this ‘special line of slots’, be sure to bet maximum coin every time and in the end may all your progressive wins be progressively profitable.