Jackpot Slots at Online Casinos

Millions of players around the world will experience a number of high-quality games without ever needing to step foot in a land-based casino thanks to online casinos. All that is required to play is the creation of a real-money account with a casino, its funding, and participation in the game.

However, newcomers to online casino gaming may have some difficulty selecting a web-based casino operator. This is particularly relevant as one recognizes the vast number of online casino platforms that welcome players from Africa, and indeed, worldwide.

Return to Player (RTP)

The phrase “return to player” (RTP) is used by casinos to denote the amount of all bets that a slot machine could return to players over time. For example, if you place a hundred one-dollar bets on a game with a 90 percent RTP, you can expect to be left with $90. Of note, both the house benefit and the RTP are determined over a long period of time. Since almost everything can happen in the short run, you should only ever wager money that you are willing to risk.

RTP is essentially the inverse of house advantage, which you might have already noted. When a computer has a 5% house edge, the typical RTP would be 95%, which ensures that over time, the machine will hold around 5% of all money bet and will refund the remaining 95% to players in wins.

You will lose in the long run, but if you do decide to play, you should choose a game with high RTP. This is to minimize your losses.

What is the concept of slot volatility?

Slot variance is a trait of slot machines that is dictated by their payouts and actions. Low-volatility games enable you to play for an extended period of time with a limited bankroll. High-volatility slots will have massive payouts at the expense of less smaller payouts, in the spirit of no-risk, no-reward.

Biggest jackpot wins in history

Despite the fact that slot machines are quick to use and can be played for very low stakes, they have resulted in some of the largest casino wins in history. The sum of money a player can potentially win in a single spin has risen exponentially since the advent of progressive jackpots. As a consequence, gamers at both online and land-based casinos have claimed multimillion-dollar jackpots.

Any time the slot machine reels spin, the progressive jackpot amount grows larger. A portion of each spin that does not result in a win will be added to the jackpot. When a jackpot is won, it is reset to a predetermined amount which eventually grows progressively while people play. Players' stakes can be pooled together to build greater and faster-growing jackpots, but as no one wins for a certain amount of time, the sum can easily expand to ridiculous proportions.

Winning with Megabucks in Las Vegas

Despite the reality that online casinos offer multimillion-dollar jackpots, the Megabucks machines in Las Vegas have created the highest slots win ever. These slots are run by the state, and there are over 700 in place in Nevada, all of which are linked to form a radical jackpot that currently stands at a minimum of $10 million. The most recent win amounted to $11.8 million, according to the information released by the state.

Wins on Progressive Jackpots

With progressive jackpots running through various internet slots, online casinos have recently surpassed the size of cash prizes won in Vegas casinos. Briton Jon Heywood won £13.2 million on the Mega Moolah slot in 2015, setting a Guinness World Record for the highest win on an online casino slot machine. In other reports, an unknown Australian player claimed a staggering $10.4 million (AUS) on The Dark Knight slot machine, which has since retired owing to licensing problems. Poker Stars Casino has recently launched a range of progressive jackpot slots with minimum jackpots of more than $1 million. Since January 2017, they have given away over $23.6 million in egalitarian jackpots, creating 12 millionaires on opening. The player with the username Anchor72 was the most recent winner, winning over $3 million when playing Millionaires Island. Joker Millions is a radical jackpot slot designed by Yggdrasil Gaming and can played at online casinos. It is quite a lucky game, to say the least, as since August 2015, the average jackpot amount of €2,821,629 has been paid out on average every 19 weeks.

Record breaking slot machine wins

20th of January 2013, will go down in history as a watershed moment in the history of online casino gaming. That's when the highest jackpot award ever was won, as well as being a record-breaking moment. To this day this record is unbeaten. Before winning big, most players have to play for a long time, and spend huge quantities of money in a structured fashion. There are no easy tips and tricks that can guarantee players big wins. While some spend years without winning that jackpot, the only thing a very fortunate Finnish winner had to do was place a 25-cent bet on a Mega Fortune machine.

Mega Fortune, a NetEnt online slot, is currently in fourth position in terms of biggest wins of all times. Alexander from Sweden was the lucky winner of another big jackpot in 2015. Alexander was playing at the Folkeautomaten casino and won a cool €8.57 million at the end of his game. Mega Fortune also holds the title for third biggest win, with a jackpot win of €11,736,375 million in 2011. The fortunate winner is an unnamed Norwegian man who was having difficulty falling asleep that specific night. Instead of counting sheep, he chose to kill time by playing the Mega Fortune slot machine at Betsson online casino. Playing Mega Fortune turned out to be the best decision he'd ever make.

Mega Fortune is an appropriately named game, as has been shown by the passage of time the number of big wins the game has given us. Another anonymous gamer won a massive €17,861,800 almost immediately after he started playing. We don't know what this fortunate winner did with his enormous prize money after that.

Betway: Guiness world record

Following a stringent certification procedure, Guinness World Records organization certified Betway as a world record holder for the highest “reward in an online slot machine event” in history. Jon Heywood claimed the €17,879,645.12 jackpot on betway.com after playing Microgaming's Mega Moolah online slot. This win smashed the previous milestone, which had been set in Finland in 2013, by nearly €18,000. To show the jackpot's authenticity, software vendor Microaming, sent extensive evidence to Betway and Guinness World Records.

When it comes to payouts, Betway isn't the only place you can win big. When you play Jackpot Giant and you bet at least £0.50, you'll be able to use 50 paylines, in keeping with the game's name and all things giant. Jackpot Giant is a major name on the market, providing more options to win than many of the industry's most famous slots. It cannot, however, pretend to be the greatest since it lacks a significant amount of functions.

Jackpot Giant, however, is a visually stunning slot game with see-through reels that match with the volcanoes in the background. Aside from its striking appearance, Jackpot Giant features a bonus round in which the jolly giant shows off his enormous strength by destroying volcanoes.

You can win instant cash prizes as well as extra choices, which allow you to win up to six times in one bonus round, based on which volcanos you want to obliterate.

Claiming Casino Winnings

Winning big at the casino will result in a variety of financial decisions that the winner will have to make, especially when it comes to determining the best payout process. Large winnings are usually withdrawn in the format of a negotiated settlement, which provides the winner with consistent compensation for a fixed period of time. But what if you need the money right away? Winners can sell a part of their casino settlement in return for a lump sum of money in this situation.

Although getting a one-time lump sum payout helps winners to cope with greater financial crises, such as funding for college tuition or medical bills, it may also have a detrimental effect on expenditure and saving patterns. Furthermore, even though you have to declare them only once, lump sum transfers are taxed as ordinary income.

Receiving casino winnings as a structured settlement, on the other hand, offers a predictable revenue stream for a prolonged period of time. Payments are not charged until they are disbursed, which allows for the creation of debt over time. However, this bonus alternative restricts the sum of money a winner will collect at one point, which can be a problem if extra funds are required for a financial emergency.

What Methods Do Casinos Use to Disburse Large Sums of Money?

You've had a particularly fortunate evening and want to get your newly-won money. To claim your prize, you may need to present identification and sign IRS tax documents when still in the casino. Winners are paid in various ways by casinos. If the prize money is less than $25,000, the winner usually has the option of receiving cash or a check. If the prize money is higher, the choices can vary based on the casino's policy and the game played.

Some games call for a lump sum payment, in which the money is withdrawn all at once. Other games pay out winnings through annuity, which is a way of paying out money in increments. Winners are typically allowed up to 90 days to determine if they choose a lump sum or annuity, but in certain situations, they are not given a disbursement choice and are instead provided with a lump sum.

Casino Sites to Play From Africa

Local African casino sites are typically not as successful as those that appeal to a wider audience, but there are literally hundreds of casino websites operating in the EU and United Kingdom, which citizens in Africa can easily use. Since the casino industry in Africa is not as thriving as it is in, say, the United Kingdom, it's no surprise that Africans are looking for the best casino sites in the United Kingdom and Europe. A similar phenomenon can be observed among Asian and South American gamblers.