Online casino jackpots: varieties and records

October 26, 2023

When it comes to gambling, slot machines are one of the most popular games. They are easy to play and there is always the excitement of winning big jackpots. But did you know that online casinos have different types of jackpots? In this post, we will look at the different varieties and records of online casino jackpots.

A jackpot is a large cash prize that can be won at an online casino. Jackpots can be either fixed or progressive and can be won by playing various casino games.

Jackpot types

There are two main types of jackpots in online casinos: progressive and fixed. Progressive jackpots increase in value each time they are won, while fixed jackpots have a set value that does not change.

Progressive jackpots are usually much larger than fixed jackpots and therefore much harder to win. However, the potential payouts are also much higher, which makes them very attractive to players.

On the other hand, fixed jackpots tend to be smaller but easier to win. This is a good option for players who want to win more often but with smaller payouts.

Which type of jackpot you choose is entirely up to you. Both have their advantages and disadvantages. Ultimately, it all comes down to what you are looking for in the game and how much risk you are willing to take.

If you want a chance at a life-changing payout, then progressive jackpots are the way to go. However, if you are looking for more consistent winnings, then fixed jackpots might be the best option.

Payout percentage

When it comes to online casino jackpots, the payout percentage is an important number to keep in mind. This number represents the percentage of money that is paid out when the jackpot is won and can vary from casino to casino. While some jackpots may seem small compared to the total size of the pot, the payout percentage can help players understand how great their chances of winning are.

For example, let’s say an online casino has a payout percentage of 70% for their jackpot games. This means that, on average, the casino will pay out $7,000 in jackpots for every $10,000 wagered. Of course, this is just an average and some players may win more or less depending on their luck. However, the higher the payout percentage, the higher the chances for players.

When choosing an online casino to play with, be sure to check out the jackpot payout percentages to understand how often big wins happen. The higher the percentage, the better your chances of getting a life-changing payout.

Jackpot casino records

Some of the biggest jackpots in casino history have been won in Las Vegas. Here are some of the more notable ones:

In 2003, a 25-year-old software engineer from Los Angeles won $39.7 million by investing $100 on Megabucks in Excalibur.

In 2000, an anonymous software engineer from Hawthorne, California won $34.9 million playing slots on the Barbary Coast.

In 1998, an 84-year-old Japanese woman named Kirazu Umezu hit the $27.6 million jackpot at the Desert Inn.

In 1995, a 25-year-old San Diego man named Darnell Taylor won $22.6 million playing slot machines at Caesars Palace.

In 1989, a Utah businesswoman named Cynthia Jay-Brennan won $27.5 million playing Megabucks at the Desert Inn.

In 1987, a Los Angeles accountant named Elmer Sherwin won $4.6 million playing slot machines at the Mirage. He then won another $21 million playing Megabucks at the Cannery Casino in Las Vegas in 2005, making him the only person to ever win two Megabucks jackpots.