One word can get the pulse of anyone who plays at a casino racing in anticipation – jackpot! While regular wins on the slot machines at land-based casinos and online gambling sites are great, there’s something about a jackpot that can make players feel like their chances of hitting it big have just been increased. But what exactly is a casino jackpot? What are the rules to winning one, and how are they different from regular payouts on games?
Unlike progressive jackpots, where the money is added to the total prize pool from every wager placed on the machine, a casino’s own in-house jackpots are not tied to any larger network. This means that they are based on the percentage of bets that are placed by players and will only be awarded when a player hits a specific combination of symbols or numbers. These values are usually displayed prominently on the game’s user interface, making them easy to spot.
Once a player has won the jackpot, they’ll have to verify their identity with casino employees and sign a lot of paperwork before they see any of the money. While the casino will work to expedite the process, it can still take hours or even days for a player to see their money.
Once the winnings have been processed, a jackpot winner can choose whether they want to receive their prize as a lump sum or annuity. The option will depend on the size of the jackpot, how it was won, and the terms of the casino’s payment system.