Risks and Rewards of Chasing Progressive Jackpots

Playing progressive slots comes with the ultimate casino temptation – the chance to win a truly staggering, life-altering jackpot in the millions. As the top prize climbs higher with each wager, the lure grows stronger to keep feeding just one more coin for a slim shot at once-in-a-lifetime riches. However seasoned slot players understand there is skill and strategy involved in navigating when to chase the elusive pot of gold, and when to restrain yourself and walk away. Use the following tips on bankroll management, understanding payback percentages and setting limits to balance the risks and rewards of hunting down progressive jackpots.

Managing Your Bankroll Wisely is Key

Progressive slots may offer the biggest prizes at such casinos as the Crown Play online platform, but they also tend to be some of the stingiest when it comes to paying out smaller wins. The reason is simple – more of each wager goes towards fueling the rising jackpot rather than funding minor payouts. As a result your bankroll can disappear rapidly while fishing for the big one. Savvy gamblers set firm loss limits in advance, only allotting a small portion of their slot bankroll to progressives.

Here are bankroll tips for smart progressive slot play:

• Set aside no more than 10-20% of your bankroll for progressives.
• Determine a monetary loss limit before playing.
• Quit if you lose your allotted amount for progressives.

Following these simple rules prevents you from blowing your entire bankroll on the risky upside of a mega-jackpot.

Understand the Payback Percentages

All slot games come with an inherent mathematical edge favoring the house. The payback percentage represents how much-wagered money a game pays back over time. The higher the payback, the lower the house edge. Most traditional slots return 90-97% over millions of spins. By contrast, progressives typically pay back 90% or less – meaning a higher portion of your money flows into swelling the jackpots.

The following table shows some sample payback rates:



While the house edge is higher, many players feel the shot at a multi-million dollar windfall outweighs the increased risk. However you should factor the lower payback into your budget and expectations. With stingier payouts on smaller wins, you could end up sinking hundreds just to trigger a minor $20 payout.

Set Strategic Loss Limits

Savvy slot players always establish loss limits prior to playing progressive machines. This means determining the maximum amount you are willing to lose before walking away. As mentioned already, you should budget separate bankroll amounts for progressives vs. standard slot play.

Here are some strategic tips for setting loss limits on progressives:

• Start low – set a loss limit of $40-$60 to test the waters.
• Increase the limit if you score an early small/mid-tier win.
• Decrease if you reach 50% of the limit with no wins over 3x bets.
• Quit if you lose 100% of the pre-set limit.

The advantage to this adjustable strategy is capitalizing if Lady Luck blesses you early on. By incrementally raising limits after small jackpot wins, you increase your odds of being in the game when the grand prize hits. Just be sure to scale back wagering if you hit a cold streak. Sticking to predetermined stopping points is crucial, even when raging with tilt after a bad beat. Remember – there will always be another spin, another day, another giant progressive pool. Maintain perspective by setting smart loss limits.

Bottom Line

While lured by the obvious appeal of millionaire-making jackpots, wise slots players understand the importance of balancing risks versus rewards. By carefully managing your bankroll, understanding the payback percentages and setting strategic loss limits, you can thoughtfully navigate when to swing big for that life-changing score or play it safe and walk away. Use these tips to enjoy all the thrills of the chase while minimizing the perils!