yy888888
yy888888
Joined: May 19, 2014
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May 19th, 2014 at 3:19:15 AM permalink
Does anyone know the mechanics of progressive jackpots with a so called "maximum payout". E.g. several machines linked to a progressive JP that has a Major with a maximum of $50,000, followed by another to capped at $5,000 and $500 respectively.

What happens if nobody hits the progressive by the time it reaches the published cap? And if it is set to ALWAYS payout before it ever reaches the cap, does this mean that the odds of hitting any of the respective progressive increases when they are very close to the amount?
odiousgambit
odiousgambit
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May 19th, 2014 at 3:26:36 AM permalink
the odds of hitting do increase and it can become +EV to play. Check out the WoO page, for some reason he calls them Mystery Progressives [it seems] and I haven't heard anyone here call them that.

http://wizardofodds.com/games/slots/mystery-jackpot/
the next time Dame Fortune toys with your heart, your soul and your wallet, raise your glass and praise her thus: “Thanks for nothing, you cold-hearted, evil, damnable, nefarious, low-life, malicious monster from Hell!” She is, after all, stone deaf. ... Arnold Snyder
yy888888
yy888888
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May 19th, 2014 at 3:32:28 AM permalink
Yes, they are called Mystery Jackpots here in our casino :)

Thanks! It isn't possible to tell whether the JPs go because more players are "chasing" for it and thus resulting in more play playing out the odds or if the chances of hitting are actually programmed to be easier as it approaches the cap.
odiousgambit
odiousgambit
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May 19th, 2014 at 3:37:24 AM permalink
This is new to me as well btw. Member Mission146 [a moderator here actually] is devoted to this kind of AP play, and I have learned a bit from him. The tricky thing seems to be that you must make the progressive advance, which it does when you win something in some cases and in other cases it progresses on your bets. The frequency of increase when progressing on winning can be subject to high variance.

In some thread I wouldnt want to find now he says you may look at such a Jackpot and have a gut feeling it is close to hitting, but be wrong. Better be able to do the math, then, I guess.

PS: I strongly suspect that the odds of hitting increase merely because the limit is approached. I don't think the machine is programmed to adjust the odds any as the "must hit by" is neared. Yet, clearly, the concept of "increased chances" is valid anyway just on the basis of steady approach to a limit.
the next time Dame Fortune toys with your heart, your soul and your wallet, raise your glass and praise her thus: “Thanks for nothing, you cold-hearted, evil, damnable, nefarious, low-life, malicious monster from Hell!” She is, after all, stone deaf. ... Arnold Snyder
yy888888
yy888888
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May 19th, 2014 at 3:50:05 AM permalink
At our casino, especially during peak hours and weekends, the smallest progressive which resets at $150 and has a "max" of $500 can cycle back up to $400+ every 3 hours of play (there are about 32 machines linked). Hitting such jackpots are totally random and you can hit it whether you are making a small bet or playing max credits (on a visit 2 weeks back, I actually saw a player hitting the small JP at $300+ and hitting it AGAIN on his next spin just above the reset amount).

I am not sure if playing higher denomination or more credits per line increases the odds, but if the odds of hitting do increase after specified target points, it will be very favourable to play the machines when each tier is approaching the cap. I know asking the casino staff would be pointless, but am curious to know how such jackpots are programmed to payout and how do they ensure that it WILL payout before or when it hits the cap.
odiousgambit
odiousgambit
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May 19th, 2014 at 3:54:11 AM permalink
Read the WoO page. I have edited a previous remark after reading it myself [g]
the next time Dame Fortune toys with your heart, your soul and your wallet, raise your glass and praise her thus: “Thanks for nothing, you cold-hearted, evil, damnable, nefarious, low-life, malicious monster from Hell!” She is, after all, stone deaf. ... Arnold Snyder
onenickelmiracle
onenickelmiracle
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May 19th, 2014 at 4:15:03 AM permalink
99.9% of the time, they really shouldn't be touched if you want to win and the rest, nobody will let you touch them.
#FreeNATHAN #Paytheslaves
AxelWolf
AxelWolf
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May 19th, 2014 at 6:27:23 AM permalink
Quote: yy888888

At our casino, especially during peak hours and weekends, the smallest progressive which resets at $150 and has a "max" of $500 can cycle back up to $400+ every 3 hours of play (there are about 32 machines linked). Hitting such jackpots are totally random and you can hit it whether you are making a small bet or playing max credits (on a visit 2 weeks back, I actually saw a player hitting the small JP at $300+ and hitting it AGAIN on his next spin just above the reset amount).

I am not sure if playing higher denomination or more credits per line increases the odds, but if the odds of hitting do increase after specified target points, it will be very favourable to play the machines when each tier is approaching the cap. I know asking the casino staff would be pointless, but am curious to know how such jackpots are programmed to payout and how do they ensure that it WILL payout before or when it hits the cap.

Are they linked to other machines? I like that a lot better then independent machines.
♪♪Now you swear and kick and beg us That you're not a gamblin' man Then you find you're back in Vegas With a handle in your hand♪♪ Your black cards can make you money So you hide them when you're able In the land of casinos and money You must put them on the table♪♪ You go back Jack do it again roulette wheels turinin' 'round and 'round♪♪ You go back Jack do it again♪♪
yy888888
yy888888
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May 19th, 2014 at 10:25:37 AM permalink
Quote: AxelWolf

Are they linked to other machines? I like that a lot better then independent machines.



They are linked. Usually about 20-30ish machines in a cluster. I played again today and on a machine hit the small JP in 3 spins. Wasn't expecting that as the value was about $168.
yy888888
yy888888
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May 19th, 2014 at 10:27:53 AM permalink
Quote: onenickelmiracle

99.9% of the time, they really shouldn't be touched if you want to win and the rest, nobody will let you touch them.



When the 50k and 5k progressives are close to the maximum amount (Above 48k, 4.8k respectively), all machines are usually occupied and hogged by players. Some have suggested there are syndicates who organise groups of players to hog the machines during such times.

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