What a casino operator should know about jackpots
What is jackpot
Jackpots belong to early times of poker. In one of old varieties of this game there was a combination of two jacks. When some of the players got this combination, the pot was being played. This is how jackpots appeared.
Nowadays, jackpot means one of the biggest wins in a casino. Jackpots are now used not only in poker, but also in other gambling games – often in lotteries and slots, but the latest innovation is jackpots in Live-dealer games. This novelty was introduced by Evolution Gaming.
In June 2017, the company announced the launch of Jumbo 7 jackpot, with a seed capital of 1 mln EUR for the Casino Hold’em. Todd Haushalter, Chief Product Officer for Evolution, stated that
‘it is our way of saying ‘thank you’ to operators and players. The jackpot could grow to in excess of €30 million, which will put it in contention to be the biggest jackpot in the history of table games or slots.”
To find this and other jackpot games, visit the SoftGamings games section.
Types of jackpot
Apart from jackpots being available for many game types, there are many types of jackpots themselves. Here are some:
- Double Trigger
- Door Prize
Fixed jackpot is a win the amount of which does not change. A player only needs to fulfil a certain condition to get the prize.
In the progressive jackpot, the amount of win is growing with every bet. For operators, there is a useful feature: a player often needs to make maximum bets to expect the prize.
Mystery jackpot is distinctive with minimum and maximum limits, the amount of which is only known by the organizer of the jackpot.
In Double Trigger, a player can earn an additional amount of money in the bonus game. Here, just like in mystery jackpot, a player does not know about the amount of win.
Finally, Door Prize is a prize for a player who has entered the casino website, started playing and appeared to be the player under a specified order number, e.g. thousandth.
Thus, there are different ways to attract players with the help of a jackpot. But what to do if (s)he wins?
Who pays out jackpot
Good news for an operator: there is a small chance of a player to win. You can judge about it based on the frequency of news about jackpot wins, since such cases quickly become known worldwide.
Here you are the most famous win in Mega Moolah slot by Microgaming. In 2015, a player won 17,879,645.12 EUR and entered Guinness World Records. At the same time, there are games in which no one has ever won.
Who exactly pays out the winning depends on who organizes the jackpot.
In case, the jackpot was organized by a game provider, such as NetEnt, Evolution Gaming etc, in which 2 or more casinos take part, the jackpot is paid out by the provider. This is a global jackpot.
The interaction between an operator and provider in this case is as follows:
- The respective agreement is concluded
- The provider opens an account to accrue jackpot
- The operator transfers a specified amount of funds to this account
- Contributions from each bet are accrued for a future possible jackpot. If the player wins, an operator pays out the winning from the casino account. The provider transfers the winning amount to the account created specifically for jackpots.
However, each provider has its own jackpot payout system. If you would like to know more about integrating jackpot games, contact our experts.
If a jackpot is local, that is organized by a certain operator for his(er) players, the winning is paid out by him(er).
Benefits from having jackpot games comes down to three points:
- Attracting jackpot hunters
- Building up reputation of the casino
- Bringing new trends to the casino
There is a category of clients, so-called jackpot hunters, which plays exclusively jackpot games. So, if your casino offers such an option, you will attract this audience.
Jackpots also grow your reputation – only trustworthy casinos offer the opportunity to win jackpots.
Finally, such innovations as jackpots in Live games help your casino to keep abreast current trends, which increases the popularity of the casino.
Jackpot games has their advantages, but there are also risks. On one hand, the availability of jackpots impacts the success of the casino in a positive way, but on the other hand, in case a player wins, it can become a financial burden for the casino operator. Whether you choose to offer jackpot games or not, SoftGamings experts will always be happy to answer your questions and offer possible options of purchasing jackpot games and other products.