The slot they are a fun and cheap pastime and win thousands of Italians every day: let’s see together what the odds are of winning a slot jackpot.
What are the odds of winning a slot jackpot?
Progressive slots often offer jackpots of very high amounts. But what are the odds of winning a slot jackpot? Let’s take as an example a mechanical slot with 3 reels, 20 symbols on each reel and a single payline available. To win the jackpot, you need to get a combination of 3 symbols. The probability of winning is 1 / (20 * 20 * 20), ie 1 in 8000. If you increase the number of reels to 4 reels, the probability of winning would drop to 1 in 160,000. With 5 reels, you would have 1 chance to win out of 3 million. Current slots are mostly virtual slots and are extremely difficult to analyze in mathematical terms. Here are some factors that make slot analysis difficult:
The outcome of the games is decided by a software of random number generation (RNG), whose code is different for each game
There are so many special features, so many special symbols, so many reels and multiple paylines
The progressive jackpot is often shared between multiple slots and this makes it impossible to estimate how many plays are made before you can win.
Slots with progressive jackpot
The progressive jackpot is a special prize in the slots that can be won at random after each round. And the longer the jackpot is not won, the higher the progressive jackpot. Progressive jackpot slots usually take a portion of each bet placed and add it to the jackpot. When more than one casino offers the same slot, the jackpots can be shared and become really high, reaching figures around one million euros. Progressive jackpots can increase the return rates of slot games because the amount of the jackpot greatly increases the potential winnings. If the jackpot is high enough, the return to the player of a game can exceed 100% of the amount, thus giving players a positive bet situation. Just remember that when it comes to progressive jackpots, the bigger they are, the better the return percentage. Wait for the jackpot to reach a high figure before you play and make sure you remember to play the maximum bet on any progressive jackpot game you play. If you do not play the maximum bet, you do not qualify for the jackpot and your payout rate will decrease.
Is it hard to win a slot jackpot?
Based on statistics, the chance of winning a millionaire jackpot on slots in online casinos is very difficult: the odds of winning range from 1 in 20 million to 1 in 40 million. If it’s so hard to win the jackpot, then why do so many players love slots? The eye-catching graphics, bonus games and the idea of being able to win such a large sum have an irresistible charm for slot players. If we rely on the calculation of the odds of winning, slots are one of the worst options among all the alternatives available on online gaming sites. If we had to follow a mathematical reasoning, it would be better to change the game. The jackpot is not the only prize, there are many prizes and many combinations available and for the law of big numbers, not all games can be losers. Also, a 1 in 20 million chance doesn’t mean that every 20 million exact bets the jackpot will be beaten: this may never happen as well as happen twice in a matter of seconds.
How to calculate the probability of winning on slots
Slot machines are games that depend on luck and not skill and are generally more fun for fun than money. However, there are some tricks you can apply to maximize winnings and minimize slot losses. For example, by calculating the winning percentage of a slot, you have a clearer idea of how much money you have to win. For example, if you want to know the probability of getting a six-dice two dice, do this short calculation: 1/6 + 1/6 = 2/6, which is rounded to 1/3 by default. If you want to know the probability of rolling two dice and both of them get six, multiply the odds. 1/6 X 1/6 = 1/36. Obviously this calculation on slots is very complex as we saw earlier and so we recommend that you rely on the RTP (return to player) percentage when choosing a slot.
Winning percentages on slots and RTP
The odds of winning slot machines are usually expressed in the form of return percentages (RTP) or payout percentages. Online, the winning percentage of slot games can reach as high as 99%. With so many online gaming sites, you need to choose the right slot to play on. The percentage of win or return to the player (RTP), is the amount of money that the slot machine is designed to pay on a very high number of spins. The payout percentage is obviously less than 100% and the difference between 100% and the payout percentage is the bank’s advantage. For example, if you make 100 € 1 spins on a slot machine that has an RTP of 98%, it means that you could expect to recover about € 98 in winnings. But beware, RTP is often calculated on millions of plays and is often not so easy to win in the short term: anything can happen in the short term and so you should play with your head and if you lose, stop. Usually, to be considered a good RTP, it should be higher than 96.5%. Although there is no game strategy for playing slots, it is very important to find out how it works and how and when to pay for the slot. RTP, along with maximum payout and slot volatility, is definitely one of the key factors that can affect your chances of winning. Each vendor and each slot has very different RTPs, below you will find indicative values to assess independently whether the slot you are playing has a good RTP or not. Here are some benchmarks:
If the RTP goes from 98% to 99% – it’s a great RTP, we recommend you play (you can find it on it)
If the RTP goes from 96% to 97.99% – it’s to be considered a very good RTP, give it a try
If the RTP oscillates between 94% and 95.99% – it is an advantageous RTP but there is better
RTP equal to or below 93.99% – RTP is too low, change slots!
In any case, whatever game you choose, we wish you good fun!