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The Ultimate Guide to Jackpots in iGaming Platforms

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The Ultimate Guide to Jackpots in iGaming Platforms

Everyone loves an extra cherry on the cake !! Jackpots seem like those extra cherries on cake for the iGaming enthusiasts who just love to avail this extra piece of benefit during their gameplay. Every iGaming operator takes it as a crucial step to integrate jackpots in their iGaming platforms to engage more players on their platforms. Thus, jackpots prove to be amazing tools which seem beneficial for both operators as well as players.

This blog will take you through the basics of iGaming jackpots, explaining what it is, how they work, their advantages, as well as their distinctive types.
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What are Jackpots in iGaming Platforms?

  • Jackpots are the huge cash prizes which provide players with the opportunity to win certain games like bingo, lottery, slot, poker and more.
  • Jackpots in iGaming platforms rely on the random number generation algorithm, ensuring fairness in gambling as RNGs make the game outcomes unpredictable.
  • Jackpots are proven schemes for enhancing the retention rate of players on the platforms and to entice them in an effective manner.
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How do Jackpots Work?

Jackpots follow the regulatory frameworks and utilizes the certified RNG to ensure fair and random outcomes. Here’s how the jackpots in iGaming platforms work:
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Bet Placement and Contributions

  • Players place the bets on qualifying games and some portion of these bets make a contribution to the jackpot pool.
  • In fixed jackpot the prize remains the same however, in progressive jackpot, the prize increases.

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RNG Triggered Wins

  • The RNG algorithm comes into play determining when the jackpot will be awarded to the player.
  • Bonus or jackpot wheel activates when a player lands certain symbols combination correctly like in slots, providing them the chance to win at least one of the multi-level jackpots.

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Prize Awarded and Jackpot Resets

  • After the player hits the jackpot, they receive the winning prize.
  • In progressive iGaming jackpot systems, the prize pool resets to its base amount and the cycle starts again.

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Types of Jackpots in iGaming Platforms

A wide variety of jackpots exist for different game types, some of which include:
  • Progressive Jackpots: Progressive jackpots involve an increment of the winning amount with each bet placed by the player.
  • Fixed Jackpots: In fixed jackpots, the winning amount does not vary and players can win them just by fulfilling certain terms and conditions of the game.
  • Double Trigger Jackpots: Additional money can be earned through bonus games in the double trigger jackpot. The player is not aware of the winning amount beforehand.
  • Mystery Jackpots: These jackpots have predefined minimum and maximum limits, and the exact amount is known only to the jackpot organizer.
  • Local Jackpot: A jackpot centralized to a single gaming site or casino, allowing only players on that specific platform to place bets and win the prizes.
  • Daily Jackpot: Ideal for players seeking opportunities to win jackpots within a 24-hour period on iGaming platforms.
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Fixed vs. Progressive Jackpots

Parameters

Fixed Jackpot

Progressive Jackpot

Prize Value
The prize of the fixed jackpot remains unchanged.
The price value of the jackpot grows constantly with each bet placed on the game.
Winning Odds
winning odds are favourable because the prize pool is small and payout is released consistently.
Winning odds in progressive jackpots are comparatively low as it’s more like a game of luck than skill.
Payout System
Fixed jackpot release payout and it doesn’t reset after it’s won and remains constantly for every game.
Progressive jackpots’ payout is released when the jackpot hits and the amount is reset to a preset “seed” amount and grows again with progress.
Funding
It is funded by the game provider or casino, and isn’t dependent on the players.
It is entirely funded by the jackpot pool where a small portion of each player’s bet goes and grows.
User Experience
Provides stable and more predictable outcomes, comes with lower risk and easy finance management.
Provides players with immense thrill and excitement who are seeking life-changing outcomes and huge prizes.
Prize Volatility
The prize may be smaller but is consistent, predictable and leverages frequent wins.
High amount of volatility, infrequent wins however when won the prizes are larger.
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Advantages of Jackpots in iGaming Platforms

A myriad of advantages exist for including jackpots in iGaming platforms such as online casinos:
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Enhanced Reputation

The reputation of the iGaming businesses can be enhanced when they offer lucrative jackpots or bonus prizes on their platform for the players. It eventually enhances their popularity among players and improves their brand reputation.

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Entice Jackpot Hunters

Jackpot hunters are those players who play online games exclusively for jackpots. Thus platforms which offer big jackpot prizes seem enticing for those players.

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Introduces New Trends

Introducing new and innovative jackpots or mega prizes in the iGaming platforms can increase your casino’s popularity and make it stay ahead of the competition.

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Enhanced Player Reputation and Customer Retention

Chances to win the huge prizes attract new players to join the race and makes the registered ones continue playing, which increases customer loyalty and active participation.

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Boost Player Engagement

Jackpots provide thrill to the players, especially progressive jackpots in online casino, which grows, leading to increased time and rewards.

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Serves as a Robust Promotional Tool

Jackpots can be a great way to create brand awareness and attract more visitors who are in search of excitement and huge payouts.

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Enhanced Revenue Growth

Jackpots create a sense of urgency within the players which accounts for huge betting amounts in a day thereby leading to huge fund deposits and revenue growth.

Popular Online Progressive Jackpots Games

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Hall of Gods

It is known as one of the most renowned jackpot games which is fun-filled and is based on Norse mythology.

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Mega Moolah

It is one of the most popular jackpot games & has been present since a decade but its popularity has not slowed down. Four distinct progressive jackpots are offered by Mega Moolah & triggering of awards are done in a random manner thus players can hit the prize any time.

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Jackpot King

It is a jackpot network & not any individual game. Just like Mega Moolah, the awarding of prizes is done randomly.

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Mega Fortune

One of the popular video slot games which provides three progressive jackpots to players with massive prizes.

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DraftsKing

Betting contests which required players to pay a fixed entry fee for making predictions on multiple sports events, offering progressive and promotional jackpots.

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Lottery

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Jackpots Payout System: Ultimate Guide to Jackpots Payment Process

The most commonly used payout systems for the jackpot winners are annuity and lump sum payouts.

Step 1

Verification

Once the jackpot is won, it is thoroughly verified by the operator as well as the regulatory body.
Step 2
Identity Revelation
The winner is required to provide personal information for identification and the winner’s identity is made public.
Step 3
Payment of Choice
The winner is provided to choose how he wants to receive the payout either lump sum or annuity.
Step 4
Tax Withholding
Taxes are withheld at the time of payout automatically if the prize amount is huge.
Step 5
Payout
Payout is released to the winner through cash, check or bank transfer.
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GammaStack: Leading iGaming Jackpot Systems Developer

GammaStack is known for offering the best-in-class iGaming software solutions. We can integrate all the on-demand functionalities as per your requirements. Are you planning to start your own iGaming business while integrating enticing jackpot & bonus features in it? Then, you must count on GammaStack which can offer you top-of-the-line iGaming software solutions wrapped up with various exciting features which are fully customized as per your requirements.

Here’s what you gain access to with our Casino Software Solutions:
  • White Label Online Casino Platform
  • Turnkey Online Casino Platform
  • Bespoke Online Casino Platform
  • Casino App Development
  • Casino Management System
  • Experienced Team of Professionals
  • End-to-end Client support
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Frequently Asked Questions(FAQs)

What to consider when choosing a sports betting software provider?

Here are some of the considerations before selecting a sportsbook developer:

  • Odds Accuracy
  • Payment gateways
  • Omnichannel Compatibility
  • Compliance
  • User-friendliness
  • Security & Encryption Offered
Is your sportsbook solution compliant with the regulatory frameworks in major jurisdictions?

Yes, we offer licensing for major jurisdictions like:

  • Cuaraco
  • Kawnhake
  • Malta
  • Anjouan
Why is market research important before starting an online sports betting business?

Thoroughly studying the target audience, regulatory frameworks of the jurisdiction you’re establishing your business in, emerging markets trends, social media insights, and more helps you gather knowledge, and further lays a robust foundation for a successful betting business.

How to retain and attract bettors to my sportsbook platform?

Here are some of the effective strategies to retain and attract customers:

  • Run promotional campaigns
  • Social Media Marketing
  • Affiliate Marketing
  • Referral and New joiner bonus
  • Free Bets
  • Gamification
What solutions do you offer for sports betting software development?

We offer multiple solutions at Gammastack:

  • White Label Sports Betting Solution
  • Turnkey Sports Betting Solution
  • Bespoke Sports Betting Solution
  • Sportsbook iFrame Solution
  • Sportsbook API
  • Mobile Betting Solution

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