These machines are classified as progressive slot machines because of the progressive jackpots that can be earned by using a specific bet amount. It is the potential of winning a big jackpot, which differentiates progressive slot machines from regular slot machines.
The progressive jackpot is powered by the latest player. Each time a coin is placed in the specific slot for the progressive jackpot, a predetermined percentage of that bet will be added to the progressive jackpot itself.
The appeal is these progressive jackpots that always seem to swell larger and larger until they fall in the hands of one fortunate gambler. It is the promise of such stunning gains that can reach millions of dollars, which explains the success of progressive slot machines at all online casinos worldwide. And this despite the fact that the chances of being awarded such jackpot are close to the chances to win the lotto.
Technically speaking, there are three types of progressive slot machines. The three types are:
1. The standalone slot machine. As its name implies, this slot machine has a progressive jackpot that is not connected with other machines of the same name. These machines enable to increase the payout from a classic slot machine, with the growing suspense to watch the amount of the jackpot rise steadily. The amounts of these progressive jackpots are lower than other progressive slot machines.
2. The in-house progressive slot machine. This slot machine offers a progressive jackpot amount which is powered by the bets made by all slot players from within one casino. In most cases it will also include all casinos belonging to one particular casino group. The amounts of these slot machines jackpots are higher than for an independent progressive slot machine, but far from the windfall gains of the best progressive slot machines.
3. The wide area progressive slots machines. They are able to change the life of a seasoned slot player forever. These machines have a progressive jackpot amount that is shared by all online casinos as part of the same game platform such as platform such as Playtech or Microgaming for example. Thus the amounts of these progressive jackpots can reach millions of dollars!
For those who are decidedly not fans of slot machines, there are also some other progressive jackpots for games like video poker, blackjack and Caribbean poker.
Some disadvantages exist with respect to progressive slot machines. First their payout is usually much lower than for the classic slot machines. Second to be qualified to win the progressive jackpot, you must place the specific amount of betting, which is often the most expensive.
But overall these new games are highly popular.