Progressive Slots and Jackpots July 2024

Posted by Cliff Spiller .

If you want to increase your potential jackpot every time you play, give progressive jackpot slots a try! These slots are as exciting as they sound, and give players a chance to win upwards of $10 million. Our guide covers all there is to know about progressive jackpots, including where to play, the biggest jackpots ever won online, and how to snag some sweet bonuses before you play.

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What Are Progressive Jackpot Slots?

Progressive Jackpot Slots

Just like the name suggests, the jackpot in these games increases as you play. Every time the online slot is played and the jackpot isn’t won, the reward increases by a predetermined amount. The more people lose, the higher the potential win gets. But how often do progressive slots hit? It depends on the game, but because it’s truly a random occurrence, there is no set limit to when the payout will happen. Once the jackpot is won, the jackpot amount resets to a preset amount and the process starts over.

What are Random Number Generators (RNGs)?

A random number generator is a piece of online casino software powered by a complex algorithm that produces random outcomes at most online casino table games like online slots, online blackjack, online roulette, etc. RNG’s are frequently audited by third-party regulators to make sure they meet the standards of the licensing body. As it pertains to progressive slots, random number generator software kicks in every time you spin the reels and thanks to the algorithm, the outcome of each spin is completely random.

There are multiple different ways that progressive jackpot slots will collect and disperse jackpots.

Game Jackpot

This type of progressive slot is essentially the base model. One game gathers its jackpot money from the people who play it and don’t win.

Network Jackpot

Multiple games from the same developer all contribute to one massive jackpot. Any one of those games can win the jackpot from playing individually.

Tiered Jackpot

Multiple jackpots within one progressive slot game. You could win a mini jackpot of a few hundred dollars or a mega jackpot of a million dollars.

Timed Jackpot

These slots can be any of the other types of progressive jackpot slots, but are guaranteed to payout by a certain time of day.

How Do Progressive Jackpot Games Work?

The main difference between progressive jackpot slots and normal slots is that the prize money of a progressive jackpot grows over time. Each bet made on a spin by individuals contributes to the jackpot prize. A small percentage of bets are collected and added to the jackpot prize and an even smaller percentage is collected to build up the base jackpot prize for the next run after the prize is won.

When the prize is won by a lucky player, the prize resets and the whole process starts over. The main appeal of progressive jackpots is that online casinos for real money offer thousands of dollars as their top prize. Some jackpots can reach high millions thanks to all the players playing through connected slots all over the world, making the jackpot prize grow to jaw-dropping numbers.

So why do many players don’t want to spin the slots right after it resets? There is no denying that seeing high numbers as the prize is more appealing to many players but there is also no guarantee in saying a player won’t win the new jackpot right after it resets. Despite what people think, there is no exact science to tell when a jackpot is going to be hit. It is equally likely to hit a jackpot as soon as it resets versus a couple of months of not paying out. However, it is obvious that progressive jackpots become more appealing after the prize money is built up for a while.

How Are Progressive Jackpots Paid?

One of the most intriguing aspects about progressive slots is that even though they have a huge jackpot prize, many of them require a low bet to qualify. This makes jackpots available for an enormous range of players. Some big winners choose to go public with their wins while many winners choose to remain anonymous. This is to be expected since the biggest jackpots reach millions of dollars, but how are they paid out?

How you get paid after a huge win from a jackpot depends on the software provider, the casino, and of course the amount of money you have acquired. Jackpots are sometimes paid in a single lump sum but they also might be paid out in installments. It should be said that bigger jackpots are not always paid out in small installments.

It is very common to see a big jackpot be paid out over a decade, sometimes even longer. Payments would be arriving in your bank account on a yearly basis, also commonly known as annual payments.

Strategies & Tips for Progressive Slots

Seeing as slots are largely a game of luck, there’s no surefire way to make sure you win every time. However, there are plenty of tips and tricks to help you make the most of your money and your time. And of course, the most important tip we can give you is to gamble responsibly.

Minimum Eligible Bet

Minimum Eligible Bet

Some slots have a minimum amount that you have to bet (higher than the min. bet) to be eligible for the jackpot. Make sure to check this before you bet!

Get a Slot Bonus

Get a Slot Bonus

Free spins bonuses are easy to come by and give you a great head start to winning big. Some casinos only offer them for specific slots, but if they let you choose, use them on a progressive slot!

Don't Chase Losses

Don't Chase Losses

Chasing losses is the easiest way to lose your bankroll if you aren’t careful. If you find you’re on a losing streak, consider moving to a different slot.

Biggest Progressive Jackpots

The current Guinness World Record holder for ‘Largest jackpot payout in an online slot machine game’ is Jon Heywood, who won €17,879,645 playing Mega Moolah on Betway in October 2015. Due to inflation, that amount is worth roughly $22,788,659 USD in 2022. Unfortunately, the answer to whether progressive slots revert to zero when someone wins the jackpot is yes. So, these big jackpots only meant that online slot went back down to its lower prize pool.

Several other large jackpots have been paid out to progressive jackpot slot players online. Many have chosen to remain anonymous, so the Guinness record hasn’t officially been broken again yet.

Jackpot AmountSlot GameDate Won
€19,429,358Mega Moolah Mega JackpotApril 2021
€18,915,872.81Mega MoolahSeptember 2018
£15,183,085WowPot MegaApril 2021
€17,861,800.47Mega FortuneJanuary 2013
$20,057,734Mega Moolah Mega JackpotJanuary 2019

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Cliff Spiller

Cliff Spiller is a veteran casino writer with decades of experience under his belt. He's played at –and reviewed– countless of online casinos, and has written dozens of casino game guides. His strategy articles, and gambling news updates have been a fixture in the industry since 2004. A native of North Texas, Cliff is a long-suffering Dallas Cowboys fan. He enjoys sports and games of all sorts, including sports betting.

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