Progressive Jackpot

Progressive Jackpot

A progressive jackpot is a jackpot highest payoff for a gaming machine usually a slot machine or video poker machine where the value of the jackpot increases a small amount for every game played. Normally multiple machines are linked together to form one large progressive jackpot that grows more quickly because multiple players are contributing to the jackpot at the same time.

The amount of the jackpot is shown on a meter as a money value. Usually the jackpot can only be won by winning the combination with the highest payoff, e.g. a royal flush at a video poker game, or five of the most valuable symbols lemons, cherries, alligators, etc on a slot machine. Once a player wins the jackpot, the jackpot resets to a preset minimum level.

The amount on the jackpot progresses increases a small amount for every play on a connected machine. The amount that the jackpot advances by is set by the casino the house. For example, on a machine whose house edge is 5%, a generous jackpot contribution might be 1% one fifth of the expected profit. The house is prepared to contribute some of the profit of a jackpot linked machine because players are attracted by the:

Relative novelty of progressive jackpots generally, only a small fraction of the house's gaming machines will be connected to a progressive jackpot

Constantly changing meter, often displayed on large LED or LCD displays

Large amount of the jackpot, which eventually motivates more players to play the game

Usually only players who wager the maximum number of credits per play qualify to win the jackpot. All wagers, whether or not they are maximum credit bets, contribute to the jackpot though. As a result, a game which requires a 10 credit wager to qualify for the progressive jackpot will tend to have the progressive jackpot rise to higher levels relative to its break-even level than a game that requires only a 5 credit wager to qualify.

In some games such as video poker, it is possible to compute an optimal playing strategy based on the frequency for each payoff versus the odds of hitting that payoff. Since the jackpot of a progressive video poker game is constantly growing, it eventually can reach a break-even point where the machine becomes a positive expectation bet for the player.

When the progressive jackpot is less than the break-even point, there is a negative expected value house edge for all players.

In the long run, with optimal strategy, a video poker player can make a profit, although the long run is generally longer than most people think. Several tens of thousands of plays.

It is worthwhile to note that a break-even point cannot be easily calculated on a slot machine game, because the payback percentage for the game is normally unknown to the player. The break-even point in video poker can be calculated because the payback percentage for the game is a function of the paybacks and odds of the poker hands, which is based on a standard 52 card deck. The return of a slot machine is based on the published paytable, but also on the normally unpublished reels. For a five reel slot machine, the player would need to know each symbol on each of the slot machine's five reels, in order to calculate the odds. For a three reel slot, the reels are normally weighted, and this would not be possible. However, in some circumstances the manufacturer may publish the payout of their machines.

Dead Money

In poker, dead money is the amount of money in the pot other than the equal amounts bet by active remaining players in that pot. Examples of dead money include money contributed to the pot by players who have folded, a dead blind posted by a player returning to a game after missing blinds, or an odd chip left in the pot from a previous deal. For example, eight players each ante $1, one player opens for $2, and gets two callers, making the pot total $14. Three players are now in the pot having contributed $3 each, for $9 live money; the remaining $5 representing the antes of the players who folded is dead money. The amount of dead money in a pot affects the pot odds of plays or rules of thumb that are based on the number of players.

The term dead money is also used in a derogatory sense to refer to money put in the pot by players who are still legally eligible to win it, but who are unlikely to do so because they are unskilled, increasing the expected return of other players. This can also be applied to the player himself: Let's invite John every week; he's dead money. The term dead money also applies in tournaments, when many casual players enter events with virtually no chance of winning.

Video Poker Slots

Video Poker Machine

Video Poker is a draw poker in slot machine form. Players Hold or Discard from five cards showing and get a second deal, or stand with a pat hand. It has become the most popular game of chance among casino players in the U.S. It seams that every machines has a different payout. Supposedly California Video Poker machines follow Nevada video poker rules.

There are important differences between Video Poker and Table Poker worth noting as follows:
1. In Video Poker the House is represented by a machine not a dealer and the video machine does not attempt to beat you.
2. You don’t have to figure out what the other player's hand could be like when playing against other players.
3. You cannot bluff.
4. You do not run the risk of being beaten by another player. If you have a strong hand, you win. In Table Poker, you could have a strong hand like three of a kind and lose to another player who has a better hand.
5. A good decision in Video Poker may be a bad one for Table Poker. What is advantageous to hold in Video Poker may prove disadvantageous in Table Poker and vice versa.

Based on classic Five Card Draw, Video Poker challenges players to build the best possible five-card hand. The player is dealt five cards and has the option of discarding any or all of the cards. New cards are dealt to replace the discards.

Payoffs are based on a scale, paying players for hands as low as a pair of tens or Jacks all the way up to a Royal Flush. Like slot machines, Video Poker machines are available in many denominations, with 25c and $1 machines being the most popular. Many casinos also offer progressive payoffs or bonuses for Royal Flushes or other special hands. Video Poker provides variety too, with versions ranging from 'Jacks or Better' to 'Deuces Wild' and 'Jokers Wild'.