Whether you’re completely new to progressive jackpot slots or you’d like to dig down into the nitty-gritty of WowPot, we’ve compiled a collection of answers to bring you up to speed.
Who pays out?
All titles and jackpots across Microgaming’s progressive jackpot network (including the WowPot and Mega Moolah jackpots) are paid out by the operator in one lump sum following standard verification checks as required by law. Microgaming progressive jackpot games do not waste time with annuity payouts!
RTP or ‘Return to Player’ is a percentage that represents the theoretical amount returned to a player on each slot game. If RTP is 95% and the player gambles £100, in theory, they would win back £95. This number exists as a guideline and indicates an overall number of players across a large field. Players should never gamble more than they can afford to lose.
What is the difference between a lump sum payment and annuities?
For massive jackpots, there are two main types of payouts: lump sum and annuity. In a nutshell, lump sum payouts are exactly what it sounds like: you receive all your winnings at once, in one ‘lump sum’. If you were the lucky winner of a €2 million jackpot, you would receive all €2 million at once.
Annuity payments are a bit different and will vary greatly across platforms, casinos and jurisdictions. But the overall gist of it is that you will receive smaller payments of your winnings over time. So, while a lump sum gives a winner exactly that, an annuity might only pay out a few thousand every month as their winnings trickle in.
All jackpot wins across Microgaming’s progressive jackpot network (which includes the WowPot jackpot) are paid out as a lump sum, so the lucky players can enjoy their winnings right away!
What if I’m not playing in euros? Is the jackpot value shown in my own currency? Will my win be converted into my currency?
Each win on the network is paid in either euros or the currency in which the winner played the game. The win is then converted to EUR on the day of the win or at the time of the payout for the purpose of aggregating total payouts awarded.
Before making a deposit at any online casino, we would urge you to do your research. For those accessing a casino in a regulated gambling market, make sure the site is licensed in your jurisdiction. Also check for seals of approvals from third-party testing organisations such as eCOGRA, which will show that the casino’s software is regularly audited to guarantee fair play. Reputable casinos will be sure to be doing everything they can to restrict problem gambling, such as providing responsible gambling tools and providing guidance on seeking help, so look out for responsible gambling commitments from your casino of choice.
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