Sean If you have more than a passing interest in iGaming, you no doubt have heard of the word “jackpot.” It’s a word that all iGamers want to hear when they play — because it means they’ve won one of the best available prizes. Jackpots exist in many forms of iGaming, but the two games that are most influenced by jackpots are online bingo games and online slots. Here we’ll outline why online bingo and video slots have become so popularized, and the types of real-money prizes available to those who play them.
The Advent of Online Bingo and Online Slots
Today, online bingo games and video slots are accessed 24/7 on all devices, from desktops and laptops to smartphones and tablets. That has enabled players from all over the world to enjoy the thrill of bingo and online slots from the comfort of their armchair and even on the move. Since the creation of the world’s first online bingo platform in the United States back in 1996 and impressively, it still operates today. Bingo Zone has helped to pave the way for how online bingo sites and communities have developed in the 21st century.
Although the invention of the slot machine dates way back to 1885 by San Franciscan Charles Fey, the world’s first online slot was somewhat different. Called Cash Splash, the first online slot with a jackpot delivered moderately substantial real-money payouts. However, it wasn’t until the Mega Moolah when the jackpots started to turn up a notch. In October 2015, a former soldier won an eye-watering €17.8 million on the Mega Fortune video slot, designed by NetEnt.
Two Types of Online Bingo Jackpots Available
There are two common types of jackpots that form the basis of online bingo games: preset jackpots and progressive jackpots.
- Preset Jackpots
Usually triggered by achieving a specific bingo pattern, these are the most common jackpots available to online bingo players. It may be a line, two lines or a full house (all the numbers covered). A preset jackpot is one already specified before the game begins, so all the players know how much is up for grabs from the outset. - Progressive Jackpots
Progressive online bingo jackpots are hugely exciting and commonly used in nationwide games where players from all over the country sign up to play. A progressive jackpot begins at a base level and rises every time a player buys new tickets for the game. Progressive jackpot games are usually used for 75-ball and 90-ball online bingo games and generate significant interest from regular and casual players alike.
How Slot Machine Jackpots Work
Unlike online bingo jackpots, online slots tend to pay out different jackpots randomly. Slot machine jackpots generally increase by a small percentage each time someone plays a slot. The iGaming operator determines the percentage. So, if you played a slot with a house edge of 8 percent, you might expect the house to contribute 1–2 percent toward the jackpot at best, given that most iGamers are attracted to the slots with the biggest jackpots.
Microgaming is the pioneer of the progressive jackpot in the world of iGaming, having developed some of the best slot titles for U.K.-based players in the history of the industry. Some of these are based on movie franchises, such as their latest Jumanji release, paying tribute to the 1995 classic. The Isle of Man-based Microgaming was also the first software developers to create the first online casino way back in 1994. 1998’s Cash Splash online slot was a big deal and has since paved the way for life-changing progressive jackpots won in all four corners of the globe.
What’s the future for online slots?
The future appears focused mostly on augmented reality (AR) and virtual reality (VR) gameplay. As the iGaming industry attempts to entice the next generation of millennial players, iGaming developers must think about creating experience-based gameplay that keeps things fresh and interesting for those with short attention spans. The advent of VR headsets has also made it possible to transport iGamers into virtual slot worlds, becoming part of the backdrop of themed slots as the reels keep on spinning. It’s an exciting time for the iGaming industry, with these new levels of engagement and immersion threatening the long-term survival land-based casinos in the years to come.