Believe it or not, progressive jackpots hit more often than you think. On average, every 20 hours, a lucky person will win a jackpot prize over $ 100,000. It just doesn't appear in the news.
At first sight, it might seem that these large winnings can be a blessing for casinos. The money for them is accumulated gradually from individual bets made on several tens of thousands of devices. Also, winnings are usually paid out by a software provider who developed the game.
For all participants, winning a million jackpot is an opportunity for a media campaign, which could reach to lucrative players. You can see this strategy works, on the example, in 2015 when a record win hit on the Mega Moolah Mega online slot from Microgaming.
On the graph is a rise in "Mega Moolah" search in 2015.
Psychology of Winning
Leaving aside all these factors, there is one that is rarely written about and not talked about at all. Will someone who wins the jackpot play more or less? Logically, it is suggested that the player will play more in an attempt to repeat the win. Is that true, though?
Some experiments with animals from the last century say the opposite. Probably the best known is Professor Skinner's pigeon experiment. Pigeons were taught to pull a lever, which randomly rewarded them with food. Skinner then found that if rewards were rarely given to pigeons, the animal would lose interest in it. If, on the other hand, the rewards are issued too often, the pigeon will continue to pull the lever, but significantly less often.
The same behavior can be expected from a big-time winner who fulfils the need to earn money and will be less interested in playing. This was also described decades after Skinner's experiment with pigeons by MIT professor Natasha Schülz. In her book Addiction by Design: Machine Gaming in Las Vegas, she came to the same conclusion. Too big wins cause a decrease in the frequency of playing.
By winning the progressive jackpot, the player loses interest in losing more money
Especially with slots, this is a serious problem for casinos. According to NetEnt, up to 80% of profits come from online slots. Casinos as such do not talk about it, but the value of a permanent long-run slot player is similar to a table game high roller.
The goal is to provide the player with smaller prizes that will keep his attention at the slots and at the same time not discourage him from playing. In recent years, we can witness the arrival of more interactive games with a high denomination and sometimes up to hundreds of paylines, in which almost all half of the spin is winning ones.
False Wins at Online Slots
Along with the paradigm shift in gaming comes the rather ugly habit of online slots developers to set up games so that a lot of frequent winnings are unprofitable. In this case, we are talking about the phenomenon of false wins, which means that the win does not even cover the initial bet amount.
This is no secret. You can easily see for yourself. All you have to do is compare the total bet with the payout ratios for the winning lines. For slots that offer several hundred pay lines, the payout usually changes as the bet changes so that you can see it almost immediately.
For slots, which offer, for example, only 40 or 20 pay lines, it is a bit more complicated. There, the payout remains the same with the additional comment that the winnings are multiplied by the bet on one line. The total bet on one spin is then equal to the bet on one line x the number of pay lines. See formula for non-false winning.
- The total bet must be < Single spin win
- Total number of lines x bet per line < Payout for line x bet per line