When a player hits the jackpot, a progressive jackpot meter is displayed on the slot machine’s payout panel. It is important to note that this jackpot can be won twice, so it is important to record both amounts. This way, both jackpot amounts are recorded and the jackpot is awarded twice. A progressive jackpot meter also tells players when a game is about to end. It is also important to note that you must send the jackpot meter to the casino’s accounting department at the end of every quarter in order to receive a proper payout.
The licensee of a progressive gaming system must maintain a minimum reserve of cash. The Board or its designee must approve the amount of this reserve. Once the jackpot is recognized, the progressive jackpot meter must display the winning amount within 30 seconds. It may show a lower jackpot value if the jackpot is recognized during a polling cycle. Nevertheless, nothing prohibits the use of paced-updating progressive displays as long as the jackpot meter shows the winning amount as soon as the jackpot has been recognized.
The licensees must also record the date on which a jackpot has been awarded. However, when the game is discontinued, the licensee must notify the board immediately to ensure the payout is accurate. If there is a winner, the award cannot be altered by any means, such as switching on the jackpot meter. The prize money is only transferred when the player’s name matches the winning number. When this occurs, a progressive jackpot meter must be updated, so players can check the amount of money they’ve won.
In one embodiment of the invention, the progressive jackpot meter has a keypad entry device. The dealer must enter the number of players paying toward the progressive jackpots using the keypad. Once the player has verified the entry, the processing unit will calculate the distribution of the jackpot amounts and update the displays. This process will repeat itself until all players have been paid, and the progressive jackpot meter can be updated automatically. If the jackpot amount exceeds the ante bet, the dealer may be asked to place an ante bet on the table symbol for the next round.
A player’s optimal strategy for playing a progressive game requires that the jackpots are above the break-even point. During the “long run” this will be thousands of plays, so the player can make a profit. It is very possible to earn over 100% of the total amount of jackpot winnings when playing the progressive jackpot game. A player can calculate a winning strategy by looking at the average payout of the game. The best way to determine if a progressive jackpot is profitable is to calculate its payout.
The jackpots are updated automatically as winning hands are dealt into the machine. Once a winning hand is dealt, the dealer will press the appropriate number key on the keypad 5 to activate the next level. In the case of level one, this is “1” and “2” are both used to activate a jackpot. The dealer can clear the winning entry by pressing the “*” key a predetermined number of times. This process will continue until all of the winning hands are dealt.