Online slots are by far the most popular games in online casinos and the reason for this is that they almost always feature jackpots. As the name suggests, jackpots enable players to win large payouts for at nominal bets. This hope of offering a life-changing prize is what keeps online slots ticking.

There are two types of jackpots offered in online slots. One is a fixed jackpot that remains constant no matter how much the game is played. The other is the progressive jackpot, which grows with every wager until it is hit. The progressive jackpot works as follows. A part of every wager adds to the jackpot. Therefore with every wager the amount of the progressive jackpot keeps increasing.

Because of the popularity of progressive jackpots all online gaming software providers have released a number of such games that are played on all online casinos powered by them. The power of Internet technology has resulted in the progressive jackpot slot having a common jackpot amount no matter on which casino it is played. It is for this reason the jackpot amount grows really fast. Cryptologic has recently introduced progressive slots in which the jackpot is shared by different games as well.

There are two types of progressive slots. One is in which the jackpot is hit frequently, about once in a couple of months, and therefore the amount never gets very high. Online players who are satisfied with moderate amounts but want a greater chance of winning play these progressive slot games. The other type is one that hits about once a year or less but in which the jackpot goes to millions of dollars. These are the progressive slots that make big news and are much in demand.

Each software provider has created some online progressive slots that have over the years become a favorite of online casino players. The two most popular Microgaming progressive slots are Mega Moolah and Major Millions. Mega Moolah paid out $5.56 million in April 2008 at Blackjack Ballroom Casino. The player was Klaus E. from Finland. He said that he was stunned and shocked at the win. Klaus had two immediate goals – pay off the mortgage on his apartment and take a vacation. Mega Moolah resets ate $1 million and therefore will make someone a millionaire each time it is hit. It is currently playing at $4.36 million.

Cryptologic’s top progressive slots game is Millionaires Club. It holds the record of the highest payout ever in any online progressive slots. In May 2007 InterCasino reported a hit of $5.90 million on this game, but they later revised the figure to $8.01 million. The winner was a player with the alias Obaesso. Obaesso was a blacksmith who traveled in a plane for the first time when he came to London to receive his check. He said, “I enjoy being a blacksmith but I need never work again.” Millionaires Club paid out over a million again in May 2008.

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