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Progressive Jackpots win paid out at once or in annual instalments?
Question: I like to play progressive slots and read recently different stories about online casinos not paying big jackpots wins out as once. If I win my million I want to be sure itís in my bank account and not the one from the casino.
Answer: REPLY FROM INSIDER
Sorry to start my response with: It is important to select the right online casino to play. Go to reputable forums as casinomeister.com and read the terms & conditions to avoid unpleasant surprises.
Here are two very different experiences from Jackpot winners:
Last September Silvia was the lucky winner of $4.1 Million Jackpot at Joyland Casino. According to the t&cís maximum payouts of $9,000 are allowed per month. It will take Silvia 37 years to get the full amount paid out. This is very sad story.
Georgios is for two reasons luckier. First, he hit yesterday (12.May) the $6.3 Million Mega Moolah Jackpot ad River Belle Casino. The amount will get paid out in the next few days in a single tranche. I am very happy for you Georgios!
Joyland is a Playtech casino and it is unfortunately common Playtech casinos has limited monthly payouts. I donít know the internal process of progressive wins at Playtech and donít even try to guess. River Belle is a Microgaming casino and here I know the process. Progressive Jackpots are funded by Microgaming (initial amount) and through Casinos via progressive play contributions. Money of progressive jackpots is in fact pre funded and in case of a win will be paid out directly by the Microgaming Progressive Network.
My advise is if you like progressive games play them at a Microgaming casino or read first the t&cís and find out about payout restrictions.