by JeffBet | Date of Publishing: 31 January 2023
According to Investopedia, the chances of hitting the jackpot on a slot machine range from between one in 5000 to one in 34 million, depending on several variables.
Table of Contents
There are several things that can influence your chances of hitting the jackpot. Below we explore some of the main variables.
It is believed that this can affect the chances of players hitting the jackpot on a slot. Some industry sources claim that if you play online, you improve your chances of winning if you play in the evening or early morning.
This is because more players are wagering at this time of the day, so the jackpot gradually builds up.
For physical slot machines, this can also have an effect. For example, if a slot machine has been used a lot throughout the day without paying out, the chances are that the evening, or indeed, at some time the next day, could be prime for landing the jackpot.
This is because there is only so much that a machine can hold before paying out.
If a slot machine has high volatility, it means that payouts will be less frequent, though when it does pay out, the chances are that a player could land the jackpot.
As a result, any player wanting to increase their chances of landing a jackpot might opt to play a high-volatility slot machine. However, this is not advised because you could end up wagering everything you have without success.
Some progressive jackpot slots can be programmed differently, and certain variables may trigger a big win. For example, one slot could be programmed to payout once the jackpot hits a specific amount.
Another might be programmed to payout at a particular time of the day or randomly within a specific timeframe, such as every 24 hours. Some big jackpot slots have a combination of all three.
Indeed, for physical slot machines, it might not make a difference how long someone has been using them if they have only been wagering small amounts.
As a result, this does not necessarily make a difference to the machine’s weight, with some coins being lighter than others. Of course, it also depends on what the minimum bet per spin is as well.
The return-to-player (RTP) percentage of a slot could also determine the likelihood of achieving a jackpot payout on a slot machine.
For example, if one has a high RTP, it could mean that a player wins back more over time, depending on how long they are playing. As such, it may take longer for a slot to hit the jackpot.
These work based on a network and are available at multiple casinos or casino sites. As a result, it increases the chances of more players taking part in them.
Because of this, it could also mean that the jackpot is reached a lot quicker and enhance a player’s odds of landing the jackpot.
When multiple casinos offer a progressive jackpot slot, it shares the risk because each one contributes towards the payout of the overall jackpot while they also share in any profits made from the slot as well.
Ultimately, playing slots games with the sole intention of hitting the jackpot is the wrong strategy. It is because, as you have read above, the chances of doing so are extremely rare.
If you end up chasing your losses to try and achieve the jackpot, this can lead to considerable problems further down the line.
Author: JeffBet
JeffBet is an online gambling company founded in 2022. Its product offerings are online casino, online slots, live dealer games, table games and sports betting. The organisation holds regulatory gambling licenses in the UK and Malta.
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