Ever since the gambling industry started dominating the online gambling space, slots have been the most popular game selections in every online casino. The simple style of play combined with the randomized chance to win a lot of money sounds very appealing to players, which is why slot games are their first choice.

If you are a beginner in the gambling world, you might think that all slots are the same, since they look very similar. However, there is a big difference in slots, and one of the most important things to consider is the type of slot.

The type of slot can be different in terms of how the slot game releases jackpots and regular daily wins. One of the fast-growing categories in slot games is progressive slot machines, so let’s find out more about them and the chance of winning a life-change amount of money.

What Are Progressive Slots

The idea behind progressive slots is fairly simple. Each game is designed to take a percentage of every bet towards funding the big jackpot. The idea behind progressive slots is that there are big jackpot prizes up for grabs, which sounds very appealing to players.

But can you actually win a slot jackpot?

We’ve seen many people win millions in progressive slots, but is it easy or do you have to be extremely lucky?

Well, we’ll get to that later, but first, we need to know how progressive slots work, in order to find out more about the chance of landing a big win.

How Progressive Slots Work

As we said earlier, the system behind progressive slots is very simple. Casinos use the money from bettors to fund the big jackpot that one lucky winner will receive. With that said, sometimes the casino also puts their own money towards funding the big jackpot.

Since the slot game takes a percentage from each bet, this means that the regular wins from playing the slot game are smaller compared to a regular slot game.

It is also important to note that the jackpot is totally randomized and there is no way to know the exact time when it will drop. It is tied to a complex algorithm that considers many factors before dropping the jackpot.

With that said, some jackpots are tied to a time limit, and these ones usually offer less money in the prize pool, for example daily, weekly, or monthly jackpots. So, if you play a slot game at the end of the month, and the jackpot still hasn’t dropped, there is a big chance that it will drop very soon.

What are the Chances of Winning a Progressive Jackpot?

Now let’s go to the big question, what are the chances for you to win a progressive jackpot?

Well, there isn’t a strict way of defining the chances of winning a jackpot just because every slot has different rules and systems that might change your chances.

However, we can still narrow it down to a number just to give you an idea about how hard is to win a progressive jackpot. Bear in mind that we are talking about big jackpots that offer a life-changing amount of money.

The chance of winning a jackpot depends on many factors such as the Return to Player (RTP) rate, as well as the game variance. But if we take the data from popular progressive slots, we can see that the chance of landing on a life-changing jackpot is between 50 and 100 million to one.

Yep, winning a big jackpot in slots isn’t that easy, but the good thing at least progressive jackpots offer a better chance of winning than a lottery.

Bear in mind, this is a game of luck, and considering the randomized nature of slot games, these chances shouldn’t scare you. You might be the lucky winner and get your hands on the big prize only with one lucky spin.