The online gambling and betting worlds have practically endless opportunities that allow you to earn some very welcome extra income. From sports betting to a varied selection of games and promotions, online casino websites are getting more and more user-friendly and refined.
However, there is arguably no other online gambling opportunity quite like the jackpot. That’s the ultimate experience gamblers want to have, whether online or offline. Specifically, in the digital realm, jackpots are now getting bigger and bigger.
Jackpot games are still viewed as unnecessarily risky, though, even by many gamblers. The one most frequently asked question about jackpot games remains: what are they, actually? Worry not. We will guide you through a simple explanation of how jackpots work.
What is the jackpot?
A jackpot is a money pool that can be won at a given game. Back in the day when all casinos were offline, major jackpots used to reach amounts of $10,000 or $20,000. Now, with the proliferation of online casinos, jackpots commonly get to 6 figures or even more.
Types of jackpot games
There are lots of different types of jackpot games. A pooled jackpot game, for instance, can be played by a network of multiple online casinos. Every time a gambler places a bet on whichever casino, a percentage of their bet goes to the money pool. As many casinos are involved, many players are participating as well. That translates in a money pool growing constantly and quickly.
A local jackpot game is available across various casinos, just like the pooled game. The difference, however, is that the money pool for a local jackpot game is only enlarged by the players laying bets in that particular casino. In this case, the logic is reversed. As less bettors are contributing to the pool, the money prize will be substantially smaller.
An important thing to add is that the vast majority of jackpot games are progressive jackpots. What that means is that, should no one win the pool, it keeps on growing.
Now you have the basic answers to two of the most asked questions about these games: what is the jackpot and what are the types?