One of the more exciting aspects of online gambling is the huge jackpots available from progressive jackpots, especially those administered by the largest gaming developers such as Microgaming. In March, jackpots were hit in excess of $9.5 million dollars which triggers a reset of the jackpots. However, due to the publicity created by the winning jackpots, the new jackpot is already pushing $9M again.
The Progressive slot machine in question is called Mega Moolah and it available at almost every online casino that offers games made by Microgaming. Progressive slots are unique in that not only do the jackpots increased until someone wins them, but also because the data and jackpot is shared across multiple online casinos, even those with no affiliation with each other. This sharing of resources means that jackpots grow rapidly since there can sometimes be more than a dozen online casinos contributing to the same jackpot total.
As of early in 2017, Mega Moolah has paid out nearly $200M in main jackpot winnings to about three dozen winners, with the average winner walking away with about half a million dollars. But as publicity rises of the big winnings that can be won at these progressive slots, the jackpots grow more rapidly after each reset. With Mega Moolah the reset value is only $40K, but it usually takes only a few days now until that progressive jackpot reaches a million dollars. Even in as little as a few years ago, it was rare to see progressive slot´s jackpots to reach a million dollars, now they are getting to that level within a week or two. Obviously a big part of that is advertising as more and more online casino market and advertise progressive slots aggressively on their websites, often devoting homepage, above the fold space to show progressive jackpot amounts. Microgaming has also gotten much better at doing press releases and other announcements whenever there is a big winner.
For the online casinos, this is important because progressive slots, despite the huge jackpots, are one of the most profitable machines available at the casinos. While standard online slot machines have frequent, small amount payouts while maintaining a significant house advantage, the progressive slots offer much less small payouts and have a larger house advantage compared to standard slot machines. In the end, there is no reason to think the trend will not continue as larger jackpot wins bring even more eyes to these type of games. As an interesting aside, the casinos have also figured out that players prefer bigger jackpots over game variety. In the past year, many online casinos have reduced the number of progressive online slot machines they offer, instead funneling players to a fewer number of slot machines which causes even larger and faster growing jackpots.