9 Tips for Chasing Million-Dollar Jackpots at Slot Machines

Two Rows of Progressive Slot Machines

The ultimate slots dream is to hit a jackpot worth $1 million or more. For the vast majority of players, though, winning a $1 million jackpot remains just that—a dream.

The odds are against you winning life-changing money through a slot machine. Luckily, though, you can improve your chances of hitting a seven-figure payout with proper strategy. The following nine tips will boost your odds of getting rich through slots.

Tip #1: Check the Odds of Winning

Not all jackpot odds are created equally. Some games provide a stronger chance of winning their top prize than others.

When chasing a seven-figure windfall, you should focus on slots that provide the best jackpot odds. Here’s an example on doing so:

  • You’re trying to decide between three slots
  • Game #1 offers a $1 million progressive jackpot with 1 in 5 billion odds of winning
  • Game #2 features a $2 million progressive prize with 1 in 2 billion odds of winning
  • Game #3 offers a $6 million progressive jackpot with 1 in 15 billion odds of winning

None of these slot machines feature amazing odds. However, the second game has the best odds of hitting the jackpot with progressive slots.

Tip #2: Play Slots With the Biggest Stake-Based Prizes

Many popular slots these days don’t feature progressive jackpots. Instead, their top prize is based on a multiple of your stake.

If you wager $1 on a game with a 10,000x maximum prize, for example, then you stand to win up to $10,000. Increase your wager to $10, and you’re looking at win potential worth as much as $100,000.

In this particular scenario, you’d need to Icon of Three Casino Slot Machineswager $100 per spin to hit a $1 million payout. Unless you’re already a millionaire, you can’t afford to play at this rate for very long.

A better approach is to simply look for slots that offer the biggest stake-based prizes. Nolimit City’s San Quentin, for example, pays up to 150,000x your total bet. In this case, you could chase a seven-figure payout when risking $6.67 per spin.

Tip #3: Understand the Base RTP With Progressive Slots

While progressive slot machines are no longer the fad that they once were, they’re still pretty popular in the gambling world. The ones that offer multimillion-dollar prizes are especially prominent.

You might dive into the first slot that you see with a $1 million jackpot. However, you should consider the base return (RTP) before doing so.

Base RTP refers to how much a progressive slot pays when its jackpot is first seeded. For example, a game may offer 94.5% base payback in the beginning.

The payout percentage will steadily grow along with the jackpot and, thus, boost the theoretical RTP. The same game that starts with 94.5% base payback could eventually have over 100% theoretical RTP.

However, I suggest putting your main focus on the base payout percentage. The latter is a more realistic figure that shows how much you stand to win without increased jackpot value involved.

Tip #4: Consider Theoretical RTP

The problem with theoretical payback is that most gamblers never win a progressive jackpot. Nevertheless, it’s still a valid concept worth considering.

When you consistently play games that offer higher theoretical RTP, you’re getting more value per dollar wagered.

Closeup of Two Slot Machines

Here’s an example that illustrates this point:

  • You play a slot with 95% base payback
  • The jackpot starts out at $500,000
  • The top prize is now worth $4.5 million
  • You estimate that, with the much-larger jackpot, this game now offers 102% RTP
  • You’d theoretically win $102 for every $100 wagered in this situation

Again, you actually need to hit the jackpot at some point to realize the higher payout percentage. Nevertheless, you might as well wait until slots jackpots grow some before playing. Maybe someday, you’ll win big and realize all of this extra value.

One problem with theoretical RTP, though, is that it’s not a perfect number. You must estimate this figure because slots software developers don’t provide it. Instead, theoretical payback is a moving number that continues increasing along with the jackpot.

You need to start by looking at the RTP and beginning jackpot value. From here, you track the jackpot as it increases and guess on what the theoretical payout percentage is.

Tip #5: Plan For the Long Run

The long jackpot odds all but ensure that you won’t win big any time soon. After all, some of these games feature jackpot odds in the billions.

This is especially true with multimillion-dollar progressive prizes. You might only have 1 and 10 billion odds of winning a prize that’s seeded at $1 million.

The hope is that you’re somehow able to win life-changing money quickly. Realistically speaking, though, you could play slot machines for many years without hitting a massive payout.

Tip #6: Use Bankroll Management

Even if your goal is to become rich through slots, you’re probably looking to get as much entertainment as possible, too. Bankroll management helps you get the most out of your slots play.

It involves coming up with a plan to manage your gambling funds. It all begins with deciding how much you can comfortably afford to risk on slot machines.

You want to go through your finances to figure this out. For example, you might look at your monthly bills and expenses and determine that you can risk $500 per month.

From here, you should decide how long your bankroll will theoretically last. Here’s an example:

  • You bet $1 per spin
  • You perform around 600 spins an hour
  • 600 x 1 = $600 wagered each hour
  • The base RTP is 95%
  • 600 x 0.95 = $570 in hourly winnings
  • 600 – 570 = $30 in hourly losses
  • Your bankroll is worth $250
  • 250 / 30 = 8.33
  • Your bankroll will theoretically last for 8.33 hours

Tip #7: Factor in Volatility

While bankroll management is important, it’s merely a rough guideline on how things will go. Slots volatility makes it impossible to predict exactly how long your bankroll will last.

Slots with progressive jackpots or huge stake-based prizes are especially volatile. In order to make up for their big top prizes, they don’t pay with great frequency.

Woman Sitting at a Slot Machine

That said, you need to be especially aware that your bankroll calculations may not work out with these games. If the math shows that your bankroll will theoretically last for 30 hours, it could only last for 10 hours.

Of course, the reward for playing volatile games is that you can win big. But you’ll need to deal with insane volatility in the process.

Tip #8: Become a Loyalty Member

No matter what type of slot you’re playing, you should always cash in on loyalty rewards. Online casino VIP programs ensure that you pick up rewards on the side of your play.

You’re automatically enrolled in an online casino’s loyalty plan after completing registration. From here, you just need to deposit and begin playing real-money slots.

Brick and mortar casinos, meanwhile, require you to sign up for the players club. You can do so either online or at the player’s desk.

Upon receiving a player’s club card, you insert it into any slot machine that you play. The card will then track your betting volume and deliver points accordingly.

Tip #9: Take Advantage of Online Slots Bonuses

Online casinos go beyond just offering VIP rewards and also provide online casino bonuses too. You can look forward to free spins, cashback, no deposit bonuses, and/or deposit bonuses.

The latter are particularly common in the mobile gaming world. With a deposit bonus, the casino matches your first deposit up to a certain amount.

You then meet terms and conditions to withdraw the bonus (cashable) or just winnings from the bonus (non-cashable). Here’s an example on how this works:
Slot Machines Inside A Casino

  • A mobile casino offers a 100% match bonus worth up to $200
  • You deposit $100 and, thus, qualify for a $100 bonus
  • Rollover is 40x the bonus
  • 40 x 100 = 4,000
  • You must wager $4,000 before withdrawing winnings from the (non-cashable) bonus

The average online casino features no shortage of deals. Therefore, you should always make sure that you’re in line for some kind of bonus when pursuing huge jackpots.

Conclusion

Slot machines may not contain that much skill. Nevertheless, they do give you a chance to use some form of skill when chasing big prizes.

For starters, you should look for a progressive slot machine’s base RTP (if available). You can use this figure to determine your chances of winning prizes in the short run. These payouts will help sustain your bankroll while pursuing huge jackpots.

You can also seek out non-progressive games with big stake-based prizes. The higher the maximum win (e.g. 100,000x the stake), the less you must bet to qualify for a seven-figure payout.

When going after million-dollar prizes, you always want to be mindful of your bankroll. The last thing that you should do is risk too much when you’re facing such long odds.

In summary, the tips covered here don’t guarantee that you’ll win a jackpot. They will, however, at least help boost your winnings and help you manage gambling funds well.