Progressive jackpot thresholds

[Gaptoor]

Ive been reading up on how progressive jackpots work. I understand that they work something like this:

“Let’s say a progressive jackpot slot must hit $10,000 before it is won. Every time a player places a wager, the software’s Random Number Generator sets the odds of winning a jackpot to 1/10,000,000 is true. As the “Must Hit” goal gets closer, the odds slowly becomes 1/1,000,000. Later, it becomes 1/100,000 and so on. The odds will become low enough that it is easily won. However, every player then has an equal chance of hitting the jackpot and there is no way of knowing which player will hit the jackpot.”

Is there any overview somewhere what the jackpot threshold is for the different slots? If I ever want to spend some spins on a jackpot slot it would be nice to know which one is closest to the threshold to up my chances of getting lucky.

[Gaptoor]

Duh... I posted in wrong section of forum and cant seem to move or find a delete for my post. 

[David Labowsky]

It's ok man I moved it for you and deleted the double post.

It's an interesting theme for sure. Just as the "best stake to win% ratio" and such.

[Gaptoor]

Thanks for fixing mate. Hope someone has more insight on this.  Quite interesting indeed.

[NudgeShuffle]

My understanding is that the method you describe for picking a jackpot winner is only applicable for slots with a jackpot limit. These are quite common in land based casinos in the UK as I believe there are legal limits on maximum payouts on certain classes of slot machines.

If the jackpot has no limit then I understand the chance of winning the jackpot is exactly the same regardless of jackpot size.

[Nicola]

When it comes to land-based casinos, I have seen homeless/hostel people playing 1p a go on the Fort Knox slots and winning so bet size clearly doesn't matter.

Maximum win is £20,000 in UK land-based casinos and many of them thave the "must be won before" figure too.