To win money is the whole goal of gambling, right? Maybe so, but the potential for striking it rich is appealing nonetheless. Everyone is aware that the house has a long-term advantage in games like slots, but that doesn’t stop people from trying their luck nevertheless.
The chances are stacked against us, yet we play nevertheless in the hopes of getting lucky. It’s a common occurrence in people’s lives. You can go to Las Vegas or any other gambling destination and have a legitimate shot at winning a lot of money. You can take it easy with blackjack and other low-paying games or go all in with higher-house-advantage games offering bigger payouts.
Progressive jackpot slot machines are ideal if you only care about winning the largest possible sum. These have the largest payouts of any form of online gaming. The prizes on progressive slots frequently reach six and even seven figures.
A “progressive jackpot” is one that keeps growing until someone wins it. The jackpot grows in size as you and the other players put money into the machine. The largest progressive jackpot games are shared by many establishments. The jackpots increase to unbelievable levels as you and hundreds of other players spin the reels day and night.
However, you should know that winning a progressive jackpot is no simple feat. The chances of winning a jackpot of a million dollars are quite low. You’d need a lot of luck to walk away with one of these. Here’s what you can do if the odds don’t discourage you from trying.
Visit one of the best gambling sites we’ve reviewed. If you’re in the United States, go with Bovada; everyone else, try Bet365.
Create a profile and fund your account.
Get the program here.
Find the “progressives” tab by going to the “slots” section.
Pick a game and have some fun.
That settles the matter, period. The rest, as they say, is up to Lady Luck. As of March 24, 2014, the following are the current jackpots at Bovada:
Money Spent on Shopping: $11,778,000
Crisis in the Middle Ages: $1,782,000
$43,844 for Slots Angels
A Super Diamond Mine Costing $38,317
Winner of $117,766 in Let It Ride Poker
Poker, Caribbean Stud: $122,497
Earning $196,923 for Being a Bad Person
The odds of winning the jackpot increase as its size increases. The reason larger progressive jackpots accumulate such large sums of money is because they are rarely won. A smaller jackpot may not be worth as much, but it’s much more likely to be won. Which option is optimal for your situation is up to you.
Taking Back a Huge Victory
If you’re looking to win a big jackpot, you should be selective about the casinos you play at. In addition to the general precautions you should take, I also advise you to review the casino’s withdrawal policies. The maximum weekly withdrawal amount is typically stated in a small print somewhere on the “terms and conditions” page.
Due to the high expense of processing cashouts to US-based banks, many gaming sites that cater to US customers impose this restriction. There are various gambling establishments that put a weekly withdrawal cap of $4,000 or less. If you win a million dollars, you can easily calculate how long it will take you to withdraw the money.
The good news is that major jackpots won in progressive games are not taxed by reputable casinos. If you keep reading the same terms and conditions page, you’ll eventually find a section that specifies progressive jackpot wins are exempt from the maximum withdrawal limits.
And if you still have questions, contact the site by phone or email before you wager any money. You shouldn’t expect to win that much money, but it’s still worthwhile to try. Imagine winning $800,000 and then receiving $4,000 annual payments in the mail for the following four years.
In general, this isn’t an issue at casinos outside the United States. Popular betting sites like Bet365 and William Hill advertise on their terms pages that they will send you up to $100,000 in one lump sum. If you’re playing in the UK, stick with the major brands to ensure a smooth withdrawal process.