Online Jackpots with a Player Edge
For most of us gambling is all about the thrill and
entertainment but then again, there are those that have
the uncanny ability to recognize the science behind game
selection and wagering. Unfortunately, not all of us can
wrap our brains around the mathematics behind
determining odds etc. Depending on your game of choice,
the odds vary. For example, the odds of winning on Video
Poker are much greater for players than they are on Slot
Games. No matter what, there is no doubt that the
ultimate result would be to place a jackpot winning bet.
Gamblers dream of this outcome and luckily there are
tools that calculate the moment when players have an
edge on an online jackpot, known as the break-even
value.
So you may be wondering what on earth is the break-even
value in terms of online jackpots? Once the Return to
Player (RTP) on a jackpot wager reaches 100 percent the
casino loses its advantage, which is known as the
break-even value. The best they can do is “break even”
if the jackpot is won is at this point. The moment the
jackpot amount exceeds this amount, the player now has
an edge over the casino. So in essence, RTP under 100
percent gives the casino the advantage and RTP over 100
percent gives the player the advantage. Calculations
behind determining all of this are far beyond my scope
of comprehension so I thank those mathematicians that
have done the work for us.
In order to compile this information, the probability of
winning a jackpot on a specific game is used. This
information can be calculated rather easily (for some)
based on the odds for hitting the Royal Flush on a
single deck of cards. Card games with jackpots offering
a player edge are easier to calculate because this
information is standard and readily available. Once you
move into slots it becomes more difficult because the
provider does not typically disclose the probability of
hitting the progressive jackpot, which is required to
calculate the sweet spot. It is for this reason that
tables and graphs reflecting jackpots with a player edge
primarily display card games but may also include Keno.
Now you’re probably wondering which card games are hot
at the moment. Progressive jackpots on card games are
available from a number of software providers, which
gives players options in terms of game and online casino
preference. When it comes to progressive jackpots, the
jackpot on any given game is the same from casino to
casino in many cases. For example, if you select a
Microgaming progressive jackpot game, you’ve got the
same chance of winning the same jackpot whether you play
the game at 32Red, Yukon Gold or any other operator that
features the game. With that said, there are games where
this rule of thumb does not apply. A specific brand may
be holding the highest jackpot value on a game so it
really depends on what you choose to play.
Slots
players, as time goes on, get more savvy and
experienced in the ins and outs of the games, and decide
which specific ones they enjoy the most to put their
money on.
A great example of a resource for “Jackpot
break-even amounts and current RTP values” was
created by CasinoListings.com with some help from The
Wizard of Odds himself, Michael
Shackelford, who provided assistance with
calculations, formulas and that sort of wizardry. For
example, Random Logic’s Caribbean Poker jackpot had
shifted from house edge to player’s edge as of August
2015. The jackpot value on August 21st was $235,789. The
table displays additional information including
break-even, RTP and win chance. For this particular
game, the break-even amount was $218,047 and the RTP has
exceeded 100 percent at 105.2 percent. A player’s
chance of winning the $235K jackpot is 1 in 649,730.
When the jackpot prize surpassed the casino’s break-even
value, the casino now loses money when a lucky player
hits the progressive.
