The notion of jackpot is inseparably connected with games of chance. Any gambler dreams of winning. However, what is a jackpot for an online casino? How to use it in the most effective way possible? What types of jackpots are there? How do they function and what is the return on investment? You may find the answers to some of these questions in the review prepared by Slotegrator.

Article summary

  1. What is a jackpot
  2. Jackpot in different games of chance
  3. Types of jackpots
  4. Announcement of the winner
  5. Payoff of wins
  6. How to form a jackpot
  7. Percentage of payoffs in jackpots
  8. Jackpot Payouts to Players
  9. Jackpot as a marketing tool
  10. Jackpot pay-back
  11. Income tax
  12. Conclusion

What is a jackpot

Jackpot is a poker notion introduced in the United States in 1880-1885. This notion was coined from two different words such as “jack” and “pot”. According to old poker rules, the amount of wins doubles if one of the gamblers gets less than two jacks. If in the current game the gambler doesn’t get two jacks in a row, the prize fund is partially transferred to the next game. However, sooner or later the necessary combination appears and the lucky winner gets the jackpot and the new prize fund starts forming all over again. That’s why the notion of jackpot served to denominate stacking of poker bets in a pot.

Nevertheless, games of chance evolved continuously and within time the majority of gambling notions obtained new broader meanings. Nowadays “jackpot” as a notion is used to define big winners’ pots in slots, lotteries, roulette and the rest of games of chance. A jackpot is the maximum cash prize a winner can get. To hit the jackpot means to win the whole amount of the prize fund. There are different types of jackpots categorized according to rules and conditions of each individual poker game. Basically, it is calculated as a certain percentage out of all losses and bets. Let’s discuss in greater detail what jackpot in contemporary gambling is.

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