Jackpots in an Australian online casino
This page contains information about progressive jackpots in an Australian online casino: how they are formed when is worth to start spinning, why punters from some countries win jackpots more often than other countries?
Have you noticed that players from Sweden win the progressive jackpots more often than others? But why? After all, Sweden is by no means the largest country. Let's try understanding this phenomenal luck. Is it possible that the provider's software is "tweaked" in favour of its countrymen?
Progressive jackpots in online casino
Let's start with the technical part. How are formed the significant amounts of the progressive jackpots and how casinos are paying-out such a payment (million euro)? Why casinos are happy when punters hit the jackpot on their websites?
How the payments are formed
At the pokies with progressive jackpots, a small percentage of each bet is added to the jackpot fund.
- For example, in Hall of Gods pokie RTP (return to player percentage) is 95.5%, which is below the usual of 96-98%. It is precisely the difference, and it is collected for progressive jackpots. So, when a player bets in €100, the jackpot will increase by €1.5.
- Another example would be a sensational Mega Fortune pokie, that got into the Guinness Book of Records for the payment of largest online progressive jackpot. Here RTP is 96.4%, in favour of the progressive jackpot is charged from 0.6% to 1.6% of each bet.
Types of jackpots
There are two types of progressive jackpots:
- Local. They are formed for each of the online casinos separately. This type grows very slow, as it's collecting money only from one online casino.
- Global. These jackpots are mutual for all online casinos. All players that are playing at the current pokie contribute to the global fund.
The differences between them are: casino owner itself pays local jackpots, but global is 90% paid by the provider and only 10% by an online casino.
Why casinos are happy when a player hits?
Global jackpot pay-out in the online casino is simple and clear: 90% of the amount pays the provider, and a casino pays only 10%.
Punters who are hunting for progressives are extremely addicted to gambling. Imagine a player who wins a million and gets it to the wallet without problem and delay. What is the probability that he will continue playing at this casino with very high stakes? I think it is very high. The casino owner is pleased when players win the global progressives because online casino pays only 10% of the jackpot and have a great chance that the entire amount of the jackpot would be lost in the same casino.
Why Swedish players win more often than others?
Most of the providers are from Sweden. Only in 2017, their pokies have been integrated into more than 2000 online casinos around the world. But the most number of progressive’s jackpots are won by Swedish players. Don't you think it is strange? I think that it is.
The astronomical sums of progressive jackpots need additional attention. Perhaps, the provider's software can trigger it only to the most loyal players that lost a lot. Issuance of the jackpot must be completely random (as any other spin), but it is likely that winning of millions must be connected to the software owner.
Maybe, people who won the jackpot at the online casino must live in Sweden. Who knows...
The myth of a positive mathematical expectation, when hunting a progressive jackpot
One day I came across an article that at first glance seemed logical. It was called "Positive expectation of winning the progressive jackpot". The article's motto was to hunt the progressive jackpot has the positive mathematical expectation of winning. Somehow no matter how much the punter has lost, but when the jackpot is hit - player's losses will be covered, even win more. At that time, I had a little experience playing at online casinos, and these arguments seemed to me very logical. Now I can say with confidence that this is nonsense.
Let's try to calculate. We have official data that in Arabian Nights pokie the probability of hitting the progressive jackpot is 1 to 5 431 415. Let's suppose that player is gambling via €5 per spin and have an unlimited budget. He will need to invest €27 157 075 to get a progressive jackpot (statistically). The maximum winning in Arabian nights was €8 million. About what advantage they were talking about?
Why is the chase pointless?
Catching progressive jackpots can be compared to lotteries, in which millions of players are involved. To guarantee a win, you must buy all the lottery tickets. Even if another player buys one ticket, maybe you lose all your money. The same logic applies in the progressive pokie, with a significant number of players. Even if you have several islands for sale (you need only luck), to get involved in such ventures is risky.
Here are the main reasons why it is not necessary to sell the apartment in hopes of catching the jackpot
- To have a guaranteed jackpot winning, you must be the only player at this pokie.
- Online casinos should be honest, not just with "native" accounts.
- The only reliable and popular casino could pay such a huge amount (even 10% from 10 million is 1 million).
- You must be 100% sure that there is a technical possibility to win the progressive jackpot.
- You must have an unlimited budget for betting.
- At the very end is, you will buy all the tickets from the "lottery", but you will pay much more than progressive jackpot fund.
Where to play?
- Fastpay casino pays money to payment systems and bank cards within a few minutes.