Prize pool at Pokies
Let's try to find out how the "big winning", is formed and what it depends on. From where software is taking money to pay a huge win to a punter? How is software collecting money? We need to consider such data, as "the prize pool" in the pokies, current bet, RTP, the dispersion (volatility), the cycle's length of the selected pokie and the number of players in the chosen Australian online casino.
On this article, you will learn that how the "prize pool" for "big winning" in online casino pokies is formed, what does it depend on and what variables should be considered while calculating it? Below is a link with a comparative table with all related Australian online casinos. It shows the affiliation of the casino to one or another network and the approximate number of punters in each of them. The meaning of "big winning" is, "hit" and get more than 200x (200x total bets: with a bet of €10, we win €2000 or more).
Please note, that if an Australian online casino is new and there are no players in it, "prize pool" for winning is empty and you gonna lose until (to fill it up). Only after this process, it comes a moment to "hit" a big win. Usually, it will be around 90-95% of all your deposits to this online casino in the current session.
Pokies use the pyramid principle's method. The part of the pool for "big winning" via low stakes is reserved for winning in prize pool via next step of bets (between small and medium bets), and like this up to prize pool via high-rolling. More active players are in an Australian online casino, the bigger is "the total prize pool". In fact, "the pyramid principle" can be compared to a lottery with several denominations of tickets. Each group has its own "prize pool" (jackpots).
The prize pool conception is a kind of lottery
- The cheapest tickets (the bets from €0.25 to €5). At these limits is an overwhelming number of punters so the chance of a "big winning" will be much higher. Most likely that some part of current "prize pool" is taken to form the "big winning" at higher stakes in the next steps. This data may reach up to 10% of the pool. So, the casino motivates players to gamble via higher stakes and collect more money to pay-out the "big winning".
- Inexpensive tickets (€5 to €10 bets). Fewer people are playing via these stakes (comparing to the previous group). A lot of bonus hunters are trying to increase the volatility of winning by playing at the maximum allowed bets (usually maximum is from €5 to €10). Their goal is to complete the wagering requirements of the bonus money. This fact significantly increases the activity at these limits, and forms a large "prize pool."
- The tickets of medium value (from €10 to €50 stakes). This is the most profitable limit for punters. At these limits, there are much fewer players than above, but here are collecting money from previous limits (the bets from €0.25 to €10), and are much less participant in the "drawing". It seems that the personal statistics (balance of winning/losses) and the player's group have a significant influence on the results.
- The expensive tickets (stakes are from €50 to a maximum) - this is the most profitable/unprofitable situation simultaneously to get a "big winning" in an online casino. The big winning at these bets will be huge (in a money equivalent), but there are not so many punters, most of the money is moving to previous limits and the current "the prize pool" is filling up slowly. Here the player's account history will play a decisive role: win/losses, the denominations of bets, the number of deposits /withdrawals and current balance. Gambling at this level is very risky.
What is the prize pool?
The prize pool is the sum of all players' bets, minus winning in one online casino (or network). So, for example, if 100 people play for €1 per spin and win €20 in total, the total "prize pool" will be €80.
- Depending on the chosen pokie, from 1% to 10% of this fund will go to the casino (see all percentages of payments of the pokies).
- Depending on the length of the cycle and the dispersion of the selected pokie, from 5% to 90% will be paid to winners. The remains will be collected for the next drawings. It's good to know that the higher the dispersion and cycle's length are, the more money will be collected for the next lottery (just a few punters will receive the winning amount more than their bets).
- From 1% to 10% will go to the higher stakes' pool for the big winning.
Note that each casino has its own "prize pool". For example, if you play in a new casino where there are no players, then you will simply not have the chances to win an amount much higher than your starting balance. At best (if you selected a bet from the calculation 200+ bets on the balance) you will accumulate your prize pool and successfully win almost the entire amount of your deposit back. In the worst case, you will run out of money before this moment.
Where to play?
- Fastpay casino is famous for its fast withdraws. Very good VIP bonus program and friendly live chat support 24/7.
- If you are lucky enough to get a big winning at TTR casino, then you will receive money on any payment system or a bank card within a few minutes after the order.