Online slots progressive jackpot was not on JD’s mind when he was playing at the online Bet365 Live Dealer Casino for just a few months before he hit it big and we mean ‘whale big’ for an online casino.
JD was relaxing and having fun playing one of bet365 latest slots – the awesome Captain Canon Circus of Cash, when all of a sudden it happened. JD was hungry but was in middle of bonus round in the online slot and had trouble screaming for his mama to bring him food. In a fit of frustration, he bet the maximum and spun the reels once more.
Captain Canon Circus of Cash online casino slot along with the ancient gods of gamblers must have heard JD’s plea and decided to reward him. It was right then, after that faithful maximum bet spin, that he saw the coveted golden crown symbol appear on the reels and he knew he won.
JD swears that he forgot he was even hungry as he saw the colors flashing and all the bells and the whistles on his computer screen. Next thing he sees, as he tells the story, is after waking up a few hours later, his mama was feeding him a piece of chocolate cake and he had $70,067 more dollars on his bet365 casino account.
JD says he plans to use the money from the to take classes at an online university and help his mama pay for bills. Bet365 Casino was thrilled to change the lifestyle of yet another player with the amazing online slots progressive jackpot and wishes JD the best.
Quite possibly the hottest online casino on the entire Internet in terms of big payouts last month was Spin Palace Casino. The Microgaming-powered casino reported no fewer than five progressive jackpot winners in addition to another nine players who took home $18,000 or more on standard video slot games.
July’s biggest winner at Spin Palace was a player known as S.P. Playing Treasure Nile on July 19th, S.P. lined up enough jackpot symbols to win a nice €52,815.82 (about $68,300) on the 9-payline machine.
Some smaller progressive jackpots won in July at Spin Palace include the €10,985.06 ($14,125) taken by M.D.R. at LotsaLoot when he hit three LotsaLoot symbols on payline 5. Player E.L. won a piece of the Mega Moolah jackpot worth €10,302.20 (almost $13,000) from Mega Moolah Summertime Slot. (The Mega Moolah bonus is now at over $3.8 million, by the way.) And M.B. took one of the smaller Mega Moolah progressive jackpots to start the month by winning $10,015.39.
Finally, the biggest table game winner was surely L.V.D.P. who won €20,000 on the Progressive Cyberstud Poker game there.
Slot players M.W., R.H. and V.L. each registered big wins in July, taking Spin Palace for over $154,000 combined. M.W. was the single largest winner after seeing quite a run on Isis and Fortune Finder slots for nearly $70,000. G.P. also recorded a nice windfall, going for $20,730 on Tomb Raider: Secret of the Sword slot.
A series of popular online progressive jackpot slot machine game called Millionaires Club are now offering a prize of more than $1 million. The games, developed by internet casino software company Cryptologic, feature high-life themes that give players a glimpse of the lifestyle that awaits them if they win the big prize.
The series is made up of three games, appropriately named Millionaires Club I, Millionaires Club II, and Millionaires Club III. The three slots feature different graphics and gameplay, but each shares the same Cryptologic casino jackpot. The jackpot is progressive, meaning it grows bigger every time a player makes a wager on the game. These jackpots continue to grow until they are won; the jackpot is then reset.
Millionares Club has a history of playing out big. In 2007, a 29-year-old blacksmith set a world record by winning over $4 million from the game at InterCasino.
It is not uncommon for online progressive jackpots to reach seven figures. The largest online progressive slot jackpot ever won actually paid out over $6 million, back in 2009 on a slot from Microgaming software called Mega Moolah. The jackpot on the Mega Moolah series of games now stands at an incredible $3.8 million.
Gambling is, by definition, a wager on an unknown outcome. If it takes place in land based casinos or in online gambling sites, whether the game is poker, blackjack, slots, or any other casino classic, gamblers never know how the game will end. Sometimes it is possible to make an “educated guess” about the outcome of, for example, a poker standoff; but other times, like in the case of online slots, everything comes down to pure luck.
In the financial realm, things are really not so different. Most investors don’t throw caution to the wind and put their money just anyplace. Instead, they research and project, trying to guess the future. There is the key word – guess. In the world of investing, like the world of gambling, money is being put towards an unknown outcome. The return might be great, or the move might bankrupt you – it is the goal of both the gambler and the investor to choose the right path.
Fun or profit?
One perceived difference between gambling and investing is that gambling is done for fun, while investing is a legitimate business. One look at the world of professional poker, however, is enough to crush this myth. There are people all around the world who make a living playing in online poker sites, or by putting money down on blackjack and building up wealth over time. Even slots players can hit big wins, like the record-breaking €6.3 million jackpot that was won in May of 2009 on the Mega Moolah progressive jackpot slot.
Investors might want to turn their nose up at “professional gamblers”, but in truth, both gamblers and investors work just as hard for their returns. From the point of view of the gamblers, their trade combines fun and profit, and poker pros might often wonder – “is investing this much fun?”
All about speed
Investing is a slow and laborious process. It can take years for a big investment to start paying off. Being a successful investor requires a great deal of knowledge, plenty of time, and most of all, quite a lot of patience.
A common stereotype of gambling, on the other hand, is that it is a quick and dirty way to get rich. This is both true and false. In the case of big jackpot wins like the €6.3 million Mega Moolah jackpot, lucky gamblers win a lot of money in a very short amount of time. After all, it just took one click of a mouse that player to go from zero to millionaire. But how many times did the player click before the big win happened?
Other games like blackjack or poker require just as much time as a long-term financial investment. Individual games might last just a few minutes or hours, but wealth is built up over long stretches of time. Just as investors must scrutinize each transaction from all possible angles before putting their hand in their pocket, poker pros must spend long hours playing, practicing, and perfecting their game before they can expect to win the big prizes.
Good versus Evil
One last alleged difference between gambling and investing that is worth mentioning is this: while investors are seen as hard-working and respectable businessmen, pro gamblers are often looked down upon as reckless thrill seekers. This social stigma against gamblers and gambling is completely unfounded. A poorly-planned, rushed investment has just as much potential to drive a person into severe debt as a misplaced bet, and investing can be just as addictive as gambling.
Moreover, while profits from the winning end of bad investments often end up in the pockets of individuals, gambling revenue is often filtered back into society. Governments around the world use gambling tax revenues to fund social campaigns and to create services for the good of everyone.
In the end, it is clear that the differences between investing and gambling are not so great. Investors gamble on their choices, and gamblers invest in their skills. Neither activity should be taken lightly – both require practice, knowledge, and patience if a person wants to excel and come out ahead.
Perhaps the real difference between gambling and investing is the people. Just as investing is not to everyone’s taste, gambling doesn’t give everyone the same thrills. Both are risky endeavors, and both can lead to either extreme wealth or severe debt. Whether you choose gambling or investing, let us leave you with one piece of advice: research, practice and play the odds, don’t trust your gut instincts!
Two things seem certain and universal about Internet gambling: One, if people want to gamble online, they will in spite of vague threats from law enforcement; and two, somebody somewhere is making a lot of tax-free money.
Many European nations are currently modernizing their national laws to account for the rise in Internet gambling in the past 10 years. In countries such as France and Italy, a combination of pressure from the European Commission on fair competition laws plus the realization by state-run gaming monopolies that benefit would come from regulation and taxation will soon result in more freedom and safer gaming for those countries’ consumers.
Though the amount of online gambling being done is impossible to know, virtually every country without regulation in place has commissioned a study on how much money their government could stand to earn in revenue should online slots (estimated to represent 85-90% of all gambling monies collected) and reputable online casinos offering them be legalized.
While advisory firm KPMG has forecasted that the global online betting market will reach $32 billion by 2012, some specific representative numbers from around the world include the following.
• U.S. congressman Barney Frank, the chief advocate of creating regulatory law for online casinos in America, claims that online slots alone could generate $41.3 billion in tax revenue over the next 10 years. Taxing all gambling would make $62.7 billion for the government.
• Officials estimated that Thai citizens will spend $1 billion on World Cup gambling alone.
• Upon announcing that Greece could have online gambling made fully legal by 2011, state monopoly OPAP stated that the country’s market could be worth about €5 billion ($6.13 billion) in taxable revenue.
• An estimate from Denmark shows that citizens there spend €8.3 million per year at online casinos.
• Australia’s Productivity Commission estimated that nearly 750,000 Australians would *lose* $1 billion on unregulated online casinos in 2010.
The point: By allowing online casinos to go unregulated, the world’s governments are losing money hand over fist daily. One would think that in this global economy, such an opportunity would not be wasted. In the case of online casino slots, all that glitters could be gold – if only the politicians let it.