Lets start by looking at how the gambling industry operates, before moving onto the various ways in which you too can win the jackpot.
Over the last few years, there have been some significant shifts in the gambling industry, both in terms of demographics and location.
In times gone by, most forms of gambling, particularly sports betting and football betting, were predominantly male based pass times involving high street bookmakers. These days more people of both sexes and of all age groups prefer to participate in online betting. According to the Gambling Commission, between October 2017 and September 2018, online gambling accounts, made up & £5.5bn, which equates to 38.8% of the total amount of money spent on gambling.
Following on from the COVID pandemic, more recent figures suggest that more people are taking part in online betting. In the year to June 2021, online betting participation increased to 25%, a 3% increase from the previous year. Hence, the trend towards online betting doesn’t look as if its going to change any time soon.
Furthermore, people are also gambling with larger sums of money. For instance, statistics from 2020 show that people who were involved in online betting were more likely to bet higher amounts of money on a monthly basis than those who preferred to use high street betting shops. It doesn’t take a rocket scientist to see the reasons behind this.
During the periods of lockdown restrictions, unless people were prepared to limit themselves to buying a lottery ticket from their local supermarket or newsagent, online betting became the only option available. Also most people were spending a lot more time at home.. Most of us know how easy it is to spend too much time and too much money online. The temptation to play on online casino or online poker accounts was never greater.
Unsurprisingly, record number of high street betting shops closed during 2020. For example, in August 2020, it was announced that William Hill were to close 119 betting shops. Aside from the obvious reasons for this, some bookmakers have argued that the increase in the number of people people preferring online betting is due to new regulations cutting the size of the stake allowed on in shop gaming machines from & £100 to & £2. This regulation was introduced in April 2019 Indeed, figures for the year from March 2019 to March 2020 show a 7.7% decrease in the number of betting shops on the high street. This figure suggests that betting shop closure was definitely starting to be a problem before the COVID pandemic took hold.
Following on from lockdown restrictions, people had got used to not being restricted when playing online casino and have been been more likely to continue taking part in various types of online betting. After all, its far more convenient to play on online casino or online betting websites during your lunch break at your desk, or in the evening, rather than taking the time to go to your local high street and visit a bookies.
If you’re someone who is new to gambling, some of the terms used can seem a bit vague and confusing to say the least. What does someone actually mean when they say they’ve “hit the jackpot”? Whilst its clear that it involves some sort of win which is obviously a good thing, there’s a bit more to it than that.
In this article, I’m going to explain how jackpot bets work in terms of online casino, online poker, bingo, football betting and general sports betting.
The amount that someone decides to bet is known as a stake. When there is a possibility of winning the jackpot or a proportion of the jackpot, when someone stakes a bet, a percentage of that stake is saved towards what is known as a prize pool. A prize pool is a sum of money which constantly accumulates, otherwise known as a jackpot. Until the jackpot is won, this prize pool continues to grow as people stake more money. This way the sky really can be the limit and jackpot prizes can be huge.
For example, if someone stakes & £2o on an online jackpot casino game such as Pots of Gold, a certain amount, say & £2 of that stake will go into the prize pool. The prize pool is otherwise known as the jackpot.
If you are playing an online casino game, you can clearly see how much the jackpot is. It is very often highlighted at the top of the screen and the jackpot sum continues to rise as you are playing. The more people that play and the higher the stakes that players make, the higher the jackpot figure one can potentially win becomes. The higher the jackpot, the more people are going to want to play and and the more money people are going to be willing to stake.
Online casino is just one example of online betting, where jackpots apply. Online casino games which pay jackpots are sometimes known as progressive jackpots. One popular progressive jackpot game, available on a number of online casino websites is a game called Mega Fortune. If you are new to online casino gambling and want to know which of the progressive jackpots offer the highest amount, you could use a website such as Gamblerspick. You will be able to get up to date figures as the jackpot amounts go up. Gamblerspick provides information on different online casino websites, including the introductory offers available and reviews. It is a good starting point for new online casino users.
For example, Bet365,Casino, which also has a sports betting website known as Bet365, offers a matching bonus of up to & £25 to new players. If a new player then signs up and deposits & £25, they will also be given & £25 more to play on online casino games. Of course the new player doesn’t have to deposit & £25, they could deposit & £10 and this sum would be matched with a & £10 bonus. Its important to remember that there is usually a wagering requirement for the bonus. In the case of this online casino offer, the wagering requirement is x20. Therefore if the player deposited & £25 and received a & £25 matched bonus, they would need to stake & £500 in order to be able to withdraw their winnings.
Aside from progressive jackpots, other types of online casino jackpots include the local jackpot. This jackpot is accrued from the player’s bet at a particular casino. In addition, there is a network jackpot, whereby the jackpot figure is made up from the stakes made by all online players from participating casinos. Finally, there is the fixed jackpot, where the amount that can be won doesn’t change.
There are also a number of fun jackpot options available to online poker players. One of these is known as the “Bad Beat Jackpot” (BBJ) promotion. Online poker sites offering “Bad Beat Jackpots” include Betsafe and Betway. Not all online poker websites offer this promotion due to the amount of micro technology involved. Pokernews offers a comprehensive guide to the different websites available and includes reviews, introductory offers available to new customers and website rules.
So, what is a “Bad Beat Jackpot” (BBJ). Let me start by explaining what a hand is. In poker terms, a hand is a set of five playing cards. Each hand has a position or rank, which depends on the cards included in the hands. The ranking of each type of hand depends on the relationship between the patterns on the cards. In some games, for instance “Seven-Card” stud, the highest ranking hands win, whilst in other games, such as “Texas hold’em”, the lowest ranking hands win.
There are nine different types of poker hands. For example, a “Five of a Kind” hand includes five cards which have the same value or number on them. A “Two Pair” hand includes two different pairs, for example two jacks and two queens and one spare card.
Essentially, a “Bad Beat Jackpot” is a promotion offered by some online poker websites, where the player is rewarded when one very strong hand loses to another very strong hand.
An additional type of online poker jackpot is the “High Hand” jackpot. Here, the jackpot bonus is given to the holder of the best hand on any particular day. Other types of online poker jackpot are tournament based and include “Jackpot Sit No Goes” and “Daily Double Tournament Jackpots”. Here tournament players can enjoy special pay outs. Terms and conditions apply, but payments can be high, particularly if you’ve already earned a payout from the table prizes.
Loyalty jackpots are the other jackpot option. These have the definite potential to increase online poker playing. This usually involves special schemes where you are given free cards if you earn a certain number of points or play a certain number of hands.
Another type of online betting involving jackpots is bingo. In years gone by, there used to be lots of bingo halls dotted around towns and cities. Now, as with other types of online betting, there has been a big shift towards people using online bingo sites. 85% of bingo players now play bingo online. It has changed from being something that old ladies predominantly played to a game which has increased in popularity amongst younger age groups, partly because its quite a sociable game, whether played online or in a bingo hall.
In the bingo world, In a similar way to online casino websites, a jackpot usually refers to the biggest possible prize that can be won in a particular game.
There are however different types of jackpot. For example, a fixed jackpot is a set prize amount that is always available, regardless of the number of times it has been won. You usually need to have reached a full house within a set time period.
A progressive jackpot on the other hand, works by the amount to be won in the jackpot increasing with every game. Again, you usually need to reach a full house in order to win a progressive jackpot.
There is another type of jackpot called a community jackpot. A community jackpot is basically a jackpot where the amount won is shared between all the contributing players. For instance a team of people might play bingo together and each team member would win a proportion of the jackpot. In some ways this is similar to a football betting jackpot or a sports betting jackpot.
As mentioned above, another popular way of “hitting the jackpot” is through online betting on football betting jackpots. One of the earliest types of football betting jackpots was the pools. Obviously technology has advanced a lot since then and most if not all sports betting websites have football betting jackpots available. However, following on from their initial popularity in the days of the pools, football betting jackpots have enjoyed a revival over the last ten years.
Unsurprisingly, the rules for football betting are a bit different to the rules for online casino, online poker and online bingo. The main reason being that quite often there is more than one winner. Where this is the case, the amount in the jackpot is divided up between the number of winners. Each winner then receives what is known as a dividend. Obviously the size of the dividend depends on the size of the jackpot and the number of participants.
How would you go about placing a placing a football betting jackpot bet. Most online betting websites, as well as high street bookmakers offer football betting jackpot coupons.
The online betting website Coral run a “Football Super Series” football betting jackpot offer, where players predict the results for four football matches which have already been selected. If your predicted results are correct, you could win a share of the &£25,000 jackpot (the amount won would depend on the number of winning players), as well as free bets and &£50 cash. For example, the bookmaker who’s offer you have decided to take part in might have selected the following football matches, all to be played next Saturday afternoon:
Tottenham Hotspur vs Chelsea
Southampton vs Liverpool
Manchester City vs Manchester United
Sheffield Wednesday vs Bolton Wanderers
You might predict the following. results for the games:
Tottenham Hotspur vs Chelsea – Home win
Southampton vs Liverpool – Draw
Manchester City vs Manchester United – Away home
Sheffield Wednesday vs Bolton Wanderers – Home win
Your predictions might be right or they might be wrong.
However, with some of the football betting jackpot offers available, there are other football betting options. You could choose to bet on more than one result for each selection. This is known as line betting. Here, You also have the option to change the amount you stake per line. The higher the amount you stake per line, the higher the dividend pay out will be if you win. Sometimes football betting jackpots also include dividend prizes for online betters who have predicted correct results for all of their selections, apart from one or two of them. This can sometimes be the case when there are no jackpot winners and these dividends are known as consolation prizes.
Whichever football betting jackpot offer you decide to take part in, its important to check the rules carefully.
What about sports betting jackpots? For the purpose of this article, sports betting refers to bets on the outcomes of any sporting event. This could take the form of football matches, rugby matches, snooker tournaments, or indeed any type of sport which hosts events, tournaments or individual matches. .The events or matches in the offer are usually the most prominent ones in the given time period.
Sports betting jackpots differ from football betting jackpots primarily because they involve more events. Players are usually required to wager more than 10 bets. The jackpot amount is then divided between the the number of participants on a percentage basis, depending on the number of correctly predicted results.
An example of a sports betting jackpot is the offer currently being run by Parimatch. Essentially, the Parimatch sports betting jackpot, otherwise known as a TOTO, involves a generated coupon including between 10 and 17 events. The player then needs to complete this and can predict three different options, for the home team to win, for the away team to win or a draw. Sometimes if an event is cancelled, an additional event to bet on might be offered. The participant needs to bet on all the suggested events in order to be eligible. The process is relatively straightforward and pay outs can be high.
All these different potential ways of winning the jackpot must have given you food for thought. Are you going to aim to win the jackpot?
Whatever you decide, always gamble responsibly. Never bet more money than you can afford to lose. If you feel that your gambling is getting out of hand, go to BeGambleAware for help.