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The number-one thing that you should understand about progressive slots is how volatile they are.
Volatility refers to how closely short-term results correlate with a statistical average. This concept is helpful when deciding how often you can expect to win in any casino game.
Here’s an example using baccarat.
- The banker hand features a 1.06% house edge
- The banker bet pays 1:1
- You win 50.68% of these wagers (minus 5% commission)
- The fact that you win over half of your bets makes baccarat a low-volatility
Slot machines differ greatly from baccarat and other table games because payouts aren’t made at a 1:1 ratio. Instead, slots feature a wide variety of payouts that can range from a single coin tothousands or even millions of credits.
Here’s an example using a generic slots pay table.
- 5 diamonds = 10,000 coins
- 5 triple BARs = 2,000 coins
- 5 gold bars = 500 coins
- 5 silver bars = 100 coins
- 5 rubies = 25 coins
- 5 copper bars = 5 coins
You can see that payouts range from 5:1 to 10,000:1 compared to your original bet (per payline). For example, betting five credits per line and getting five triple BARs on one line would deliver10,000 coins (5 x 2,000).
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Slot machines’ wide payout disparity from top to bottom means that they can’t pay with the same consistency as baccarat. These games have to make up for disproportionate prizes at the top bypaying you less often.
Progressive slots with huge jackpots are even more volatile than the average slot machine. If a game developer seeds a progressive payout at $1 million, then it’s guaranteed that the slot willhave lower hit frequency.
Of course, progressive slot machines don’t always have to pay less often than the average slot. Games with smaller jackpots can offer a fairly even payout distribution.
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Common examples include older online slots developed by RealTime Gaming (RTG). RTG’s older games have progressive jackpots ranging from $1,000 to $2,500 and see you win small payouts morefrequently.
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