Progressive linked slot jackpots
January 8th, 2017 at 9:12:56 PM
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Hi guys
This may seem like a trivial question
In New Zealand we have slot machines in most bars which are all linked to a progressive jackpot (only for the machines in each bar) in which there are usually 18 machines.
The jackpot starts up at $800 and must be struck before $1000. From what I have found 2.7% of the player turnover per machine is added to the "jackpot fund" and with 0.3% increasing the value on the Jackpot meter. The house edge is 10% for these machines.
I'm interested to know how much money it actually takes to be fed into the machines to "trigger" the average jackpot? is this something that can be worked out easily?
my understanding (from the WoO website) is that the target point is around $974. If this is the case then the meter has increased by $174, of which each $1 of turnover has resulted in a $0.03 increase in the displayed meter. Thus $174/0.03 = $5800 turnover to get to a display of $974. If the house edge is 10% then does this mean in actual fact it becomes 110% of $5800? ($6380?)
Am I on the right track here?
This may seem like a trivial question
In New Zealand we have slot machines in most bars which are all linked to a progressive jackpot (only for the machines in each bar) in which there are usually 18 machines.
The jackpot starts up at $800 and must be struck before $1000. From what I have found 2.7% of the player turnover per machine is added to the "jackpot fund" and with 0.3% increasing the value on the Jackpot meter. The house edge is 10% for these machines.
I'm interested to know how much money it actually takes to be fed into the machines to "trigger" the average jackpot? is this something that can be worked out easily?
my understanding (from the WoO website) is that the target point is around $974. If this is the case then the meter has increased by $174, of which each $1 of turnover has resulted in a $0.03 increase in the displayed meter. Thus $174/0.03 = $5800 turnover to get to a display of $974. If the house edge is 10% then does this mean in actual fact it becomes 110% of $5800? ($6380?)
Am I on the right track here?
January 9th, 2017 at 12:52:15 AM
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Quote: marknzFrom what I have found ... with 0.3% increasing the value on the Jackpot meter
I am not comfortable with your terminology. I assume this means if you play $100 coin in, the meter will rise 30 cents.
Quote: marknzhow much money it actually takes to be fed into the machines to "trigger" the average jackpot?
If the jackpot is currently at 800, then expectation is: it will drop at 900, which mean 100/0.3%=$33333 more coin in.
If the jackpot is currently at 900, then expectation is: it will drop at 950, which mean 50/0.3%=$16666 more coin in.
Quote: marknzIf the house edge is 10% then does this mean in actual fact it becomes 110% of $5800?($6380?)
If I assume my original assumption that if you play $100 coin in, the meter will rise 30 cents, then 174/0.3%=$58000
The house edge makes not difference because $100 always equal 30 cents.
My understanding WAS jackpots in New Zealand slot bars are controlled by gangs. They will physically hurt you to scare you off. I heard stories of people end up in hospital for few days but not life threatening.
