Types of Bitcoin Casino Jackpots
Slowly but steadily, Bitcoin casino and Jackpot games are becoming one of the leading online casino games in the world thanks to the juicy jackpots available for really small stakes. These are games that have the power to unleash huge prizes despite costing only pennies.
At the same time they are the most engaging casino games designed by a bright bunch of slot developers always looking to bring the best out of them in terms of design, bonus games and prizes that are fantastic.
How Bitcoin Casino Jackpots Work
If you are an experienced slot player, you are probably familiar with the basics of jackpot slots. But, for those that are new to online casino games, especially Bitcoin casino games, jackpots are something they need to understand from the ground up.
Basically, Bitcoin casino jackpots are based on the same principle like jackpots that can be won at online casinos that allow wagering only in standard currencies like dollars, euros or pounds. Here are some more details about this.
There are two kinds of Bitcoin casino jackpots: regular jackpots and progressive jackpots. Obviously, the more interesting ones are the progressive Bitcoin jackpots because they sometimes grow as crazy. The regular jackpots are fixed jackpot amounts that can be won when you hit the highest winning combination.
The jackpot amount depends on how high is your wager. For example, the highest possible wager gets you the highest possible jackpot. If a jackpot is 4000 coins, and you hit it with a wager of 0.0001 BTC, the jackpot amount won will be 0.4 BTC (4000 x 0.0001 = 0.4 BTC). That is somewhere around $600 dollars according to the price of one bitcoin at the moment.
But, if you win the jackpot by wagering the maximum bet allowed, which can range between 0.010 BTC and 0.03 BTC depending on the Bitcoin casino slot, then the jackpot would be 120 BTC, which is somewhere around $180,000!
Progressive jackpots on the other hand work differently. They grow as players wager until some lucky slot lover hits the winning combination. It can grow indefinitely, and it’s why they are the most popular types of jackpots.
When player’s wager, a percentage of their bet is added to the progressive jackpot pool. Sometimes only wagers from a single Bitcoin slot contributes to the pool, or from numerous slots. The more slots, the faster the jackpot grows.
What is the Biggest Bitcoin Casino Jackpot Ever Won?
The Bitcoin casino industry on the Internet is a relatively new one. On top of that, news about Bitcoin casinos are not that commercially widespread so there are very little data and statistics in terms of biggest wins or other, which is the opposite for non-Bitcoin casino records.
However, recently in February 2017, it was reported by gambling portals that an anonymous player won 259.74 BTC jackpot at a certain Bitcoin casino. This is a rare news piece devoted to Bitcoin jackpots won at online Bitcoin casinos.