Who does not love a juicy jackpot every now and then? They are hard to chase and create some of the biggest casino winners in the world. Today we’re discussing progressive jackpots, and what the difference between local and globally pooled jackpots actually are.
What is a Progressive Jackpot?
A progressive jackpot means that every bet on a progressive jackpot game adds a small amount to a jackpot pool. Jackpot pools can grow over many millions and they keep increasing until someone are lucky enough to win. In addition, as the jackpots grows, people tend to play the games more, and the potential prize grows exponentially. As an example, Joker Millions jackpot was won lately with a record amount of $7,831,370 at LeoVegas.
Pooled Progressive Jackpots
Joker Millions is a good example of a pooled jackpot. Everyone is familiar with the games Mega Fortune, Mega Fortune Dreams and Mega Moolah. The reason for the huge jackpots is the shared jackpot ‘pool’ between all operators (like Highroller or Nightrush Casino).
Whenever you spin real money on these slots, a small amount each spin is sent to the game provider, and they add it to the pot. As these jackpots are very popular, you will find the games in almost all online casinos, which again makes the jackpots grow even faster.
As soon as anyone wins the jackpot, the money gathered by the game provider is transferred to the winner-hosting casino. This means he casino does not pay for the whole jackpot. The money will come from the game provider, who holds funds from all contributing online casinos until the jackpot is won. – In other words, hosting these jackpot slots is a fairly safe affair for most.
Now let’s take a look at the local progressive slot jackpots.
Local Progressive Slot Jackpots
What happens if you win a local jackpot? There is a small difference and it is that the money for the local jackpot comes from the casino. If you win a local jackpot in LeoVegas, they will pay you the money, and this jackpot can be only won by a LeoVegas player. In every local jackpot game, money will be held by the casino, and whenever the jackpot is won, the casino will pay the money for the player.
That said, the system is very much the same, all real money spins contribute to the local jackpot. Local Jackpots are naturally not as big as pooled jackpots, as they do not have contributions from multiple casinos. On the flip side, local jackpots tend to pay out a bit more often than the pooled ones.