What are Your Chances of Winning a Progressive Jackpot?

Progressive slots jackpots are among the most exciting prizes in online gaming. Some of these payouts grow to massive proportions, which makes players spin the reels even more to win. The truth is that your chances aren’t great of winning a progressive prize. It usually takes thousands of spins for those who do win big. […]

Progressive slots jackpots are among the most exciting prizes in online gaming. Some of these payouts grow to massive proportions, which makes players spin the reels even more to win.

The truth is that your chances aren’t great of winning a progressive prize. It usually takes thousands of spins for those who do win big.

But exactly how likely is it that you’ll hit a progressive jackpot? Keep reading as I perform some calculations on the matter and try to come up with an answer.

Using Assumed Variables on the Math

Progressive jackpot games don’t offer certain information like your chances of winning the jackpot. Instead, it’s a guessing game on your part. But you can at least make an educated guess by doing certain math.

One of the key variables that you need to assume includes the game’s contribution to the progressive jackpot. Every wager contributes a certain amount to the top prize, which generally ranges from 1.5% to 2% on each bet. For example, a $1 slot spin would contribute $0.02 towards the jackpot.

It also helps to know the average jackpot win of a certain game. You may find this info on a website, or you may simply have to guess based on previous knowledge. If you see a slots jackpot hit around $50,000 quite often, then you can use $50k as your reference point.

Calculating Your Progressive Jackpot Odds

Now that I’ve discussed variables, here’s an example on what your odds might be of winning a progressive jackpot:

  • A slot’s jackpot hits around $50,000 on average.
  • 50,000 / 0.02 contribution = 2,500,000
  • You make the game’s minimum $0.10 bet.
  • 2,500,000 x 0.1 = 25,000,000
  • Your odds are approximately 1 in 25 million of winning the jackpot with any single $0.10 spin.

Your exact odds all depend upon the game in question and the payout size. But you can use the same variables I did to come up with a reasonable guess on how good your chances are of winning a jackpot with each spin.

 

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