Last Updated: Wednesday, 20 December 2023 09:08
How to win a jackpot on casino slots?
- What is the probability of winning the jackpot on NetEnt slots
- Mega Fortune statistics
- Mega Fortune probability calculation: for a bonus with 35x wager, with 40x wager and without a bonus,
- Think about the practical application of our mathematics, recommendation where to play.
- As for the progressive jackpot (when is it profitable to start "chasing it", is it worth it and how do bonuses affect the profitability of this process?), we suggest reading the article on progressive jackpots.
Chance to win a jackpot on slots
Let's start with the mathematical part. Just try to calculate when it is profitable for a player to start playing on a slot with a jackpot. To determine the mathematical expectation, it is not enough to calculate the probability of a winning jackpot directly. We will consider the usual wins that return part of the bets.
And also it's worth mentioning the use of bonus money with various wagering requirements. For analysis and calculations, we take a slot, which is included in the Guinness Records Book by the size of the progressive jackpot paid on the Internet - Mega Fortune.
Statistical data of Mega Fortune
- The probability of winning a jackpot in Mega Fortune slot is 1 to 50 million.
- Since the bonus game is triggered on average once per 100 spins, we can assume that the jackpot will be played 1 time in 500,000 bonus games.
- The return to player percentage (RTP) is 96.4%. That is, for every € 100 wagered, statistically the player will win back € 96.4.
Probability calculation
Now to the essence of the calculation. Suppose that we decided to "chase" the winning of jackpot and have a conditionally unlimited amount of money. When will it be profitable to start playing? It is important to understand that while we have an active bonus with a 35x wagering, we will additionally receive 3% of each bet.
Bonus money with 35x wagering
So, we will lose only 0.6% of our bet statistically (96.4 + 3 = 99.4%). If we can constantly fulfil the wagering requirements, then the calculation of the jackpot amount on the slot will take the following form:
The probability of a loss, multiplied by the amount of loss in one spin is 50,000,000 * 0.006 = € 300,000. Three hundred thousand euros. Exactly from this point, you should start "chasing" the jackpot. But these numbers are suitable only for the situation when we have a constant active bonus with 35x wager.
Bonus money with 40x wagering
Without bonus money
Now the most important calculation is when we don't use the bonus money to win the jackpot. We just put money to the account, open the slot and start playing. In this case, we will lose 3.6% of each bet. How much should be the jackpot amount be so that we increase the probability of having a positive expectation of winning? 50,000,000 * 0.036 = € 1,800,000. One million eight hundred thousand euros. From this amount, it makes sense to start the game without bonus money.
From mathematics to practice
All the calculations above clearly show that using bonus money can make your game 6 times more profitable than when playing without a bonus. Unfortunately, in addition to these calculations, there is another important thing that you should consider before trying to win the jackpot. This is the fact that only one player will hit the jackpot. All others will remain with zero hope. If you are ready to join the fight for the jackpot, then the information described above will become your best assistant if you want to win the jackpot with bonuses.
Where to play?
- Fastpay casino withdraws winnings to any payment system within 5 minutes. The live-chat will be there for you 24/7. All online casinos presented at the link below will not have any hiccups when paying a huge jackpot. And the Mega Fortune slot is available in all these operators.
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