Progressive Jackpot Odds

The progressive jackpot is a cunningly deceiving competition of luck. The way they are marketed and sold to players makes everyone think they have a good chance to win. Truthfully speaking this is not always the case and that progressive jackpot is really just a sneaky way for casinos to get a larger house edge from your bets. However, eventually they do have to pay it to someone. It may as well be you, right?
One of the biggest things people forget about both real-life and online casinos is that the casinos have set themselves up to profit.
However, while the casinos always profit, there are also many people who have walked away with hundreds or thousands of dollars. What’s the reason? Unlike 80% of gamblers they knew the odds and more specifically the house edge.
Essentially, the house edge is what you pay to the casino for gambling. They never make it clear exactly what the house edge is but in many cases, and especially with slots, video poker and progressive jackpots, it never falls below 15%. It is taken off you based on the house advantage. In other words the games are rigged to ensure the casino or gaming site always makes a profit.
This means that for every dollar you bet, you are paying the casino 15 cents. When it comes to progressive jackpot-style prizes, initially at the start of the jackpot that house edge can exceed 50% and this is why many of the smarter players wait until the progressive pot is full. This both reduces the odds and also the house edge.