RTG Random Jackpots - check this out!

[RobWin]

Hello I won or 3 , with 1 bet of $ 10 and 2 bet of $ 5.

That's great parpol, how much were they for ? My daughter won one over at Bodog on a $10.00 bet on Raindance for around $8,000.00...

[SlotsWizard]

Why would the other 500 ticket buyers continue to purchase a ticket each week knowing that Bill has an 80% chance of winning each week or a 60% better chance than any of those ticket purchasers have ?

Don't forget that what we're talking about isn't a lottery, i.e. the jackpot is not the only reason people play. Most people play the slots for entertainment, and to hopefully win something from the slot itself. The jackpot is just a nice plus should someone happen to win it.

I assume in the lottery system you proposed that there will always be 1 winner out of the 2500. It's not Bill's fault that nobody else bought that many tickets. Nobody's stopping other people from buying them up first.

And on the flipside, try putting yourself in Bill's shoes. Wouldn't you want a bit of mathematical security in knowing that, having spent a lot more money than everyone else, you stand a good chance to profit from your purchase?

What is not mathetmatically fair is, for example, to say that the jackpot will be won after exactly 10,000 spins have been played. The person betting $100/spin will have to wager $1,000,000 in order to win the $5,000 jackpot. The person betting 0.20 will only have to wager $2,000 to win it. The reason why this type of system is not fair to high rollers is because they would have wager an astronomical amount in order to win back a tiny portion of their losses. Try to think of this type of system from the perspective of a high roller, even if you aren't a high roller.

There are two ways to level the playing field: pay a larger jackpot to those who bet big, or make the chances of winning for someone who bets big greater than the chances of someone who bets small.

The label "Random Jackpot" itself is confusing, because both of the methods I described are random, just different implementations of it. What it all boils down to is how the jackpots work, which none of us really know.

[parpol]

That's great parpol, how much were they for ? My daughter won one over at Bodog on a $10.00 bet on Raindance for around $8,000.00...

... With $ 10 I won $ 5643, with 5 $ 7305 and $ 5245.

[zap987]

Why does it make any difference if Bill Gates buys 2000 of 2500 tickets, or if 2000 different people buy one each? You still have your same 1/2500 chance to win with your single ticket.

Having a chance to win the jackpot relative to your bet size is a much better solution than having fixed betsizes for progressive slots.

[RobWin]

[QUOTE]

Don't forget that what we're talking about isn't a lottery,

Yes I agree, but the "Random Jackpot" itself should work on the same principle...

The reason why this type of system is not fair to high rollers is because they would have wager an astronomical amount in order to win back a tiny portion of their losses.

They chose to wager big though...that should not come into play regarding the "Random Jackpot"...

There are two ways to level the playing field: pay a larger jackpot to those who bet big,

Then again they are the ones choosing to bet big...think about Bill again, he all of a sudden starts playing at ClubWorld for example and to him it's just monopoly money so he bets nothing smaller that $100.00 on each and every spin each and every day...are any of the rest of us ever going to have a real chance of winning a "Random Jackpot" again ?

or make the chances of winning for someone who bets big greater than the chances of someone who bets small.

Then again in my argument it still would not be Truly Random if that were the case...IMO

[SlotsWizard]

I just thought of another way to explain it that might make more sense.

The jackpot is a "fixed" or flat dollar amount (it can grow, but the amount you could win is not proportional or relative to your bet size).

Now suppose the same were true for all of the paytable wins. Let's say five wilds pays 10,000 times the payline bet normally. On a 0.20 spin this would be a $100 win.

Now let's say that the payline wins all remain constant no matter what your bet size is. If you bet $100 and get 5 wilds, you would still only win $100.

If this were the case, would you ever play more than 0.20 a spin? No, you wouldn't, unless (a) you are insane, or (b) your chances of winning 5 wilds increases proportionally to the amount you bet (in this example, a 500-times greater chance).

Now imagine the jackpot as this kind of fixed (or flat) payout, which is what it is. If your chances of winning it are the same at 0.20 as they are at 100.00, it is really not fair (in the mathematical sense) unless you have more chances to win it at 100.00 than you do at 0.20.

Given the number of reports of $5 and up bets being the ones which win the RJ's the majority of the time, I think it's safe to say that it is implemented mathematically fairly. Of course there will still be the occasional 0.20 and 0.40 winners, that's just the natural equilibrium of randomness rearing its (ugly?) head. But I think you'll find that if we had the stats of all the RJ winners, the tendency would be that big bettors fare better.

[RobWin]

[QUOTE]

Why does it make any difference if Bill Gates buys 2000 of 2500 tickets, or if 2000 different people buy one each? You still have your same 1/2500 chance to win with your single ticket.

True, you do..but my analogy was more regarding the fact that the other 500 folks knew how many he was buying each time and that the statistical odds of him winning more times would definitely be in his favor....relativity and all you know...

[RobWin]

[QUOTE]

Now let's say that the payline wins all remain constant no matter what your bet size is. If you bet $100 and get 5 wilds, you would still only win $100.

If this were the case, would you ever play more than 0.20 a spin? No, you wouldn't, unless (a) you are insane, or (b) your chances of winning 5 wilds increases proportionally to the amount you bet (in this example, a 500-times greater chance).

Yes, I agree with you on that point but you can't compare the regular paytables to the "Random Jackpot" it's two totally different monsters...

Now imagine the jackpot as this kind of fixed (or flat) payout, which is what it is. If your chances of winning it are the same at 0.20 as they are at 100.00, it is really not fair (in the mathematical sense) unless you have more chances to win it at 100.00 than you do at 0.20.

But it is fair just like Zap stated in my lottery anaology (you still have an equal chance of 1/2500) Right...because it's truly Random...you guys made my point for me..

But I think you'll find that if we had the stats of all the RJ winners, the tendency would be that big bettors fare better.

I would definitely agree with you on that...but I still don't think that is the way it should be if in fact it is supposed to be Truly Random...

[lovetogamble]

There are some screenshots in the winners section showing this. For example: If you take a look at the screenshot provided by echap11 for their win of over $7800 on Mermaid Queen you can see they were spinning for 0.40cents.

So sorry to iNetBet for not posting sooner but "YES" this was me that won the Mermaid Queen Sunday night! My first at iNetBet and it was great! I already have the money in my account. They are for real and I feel totally safe playing with them and pretty much only them. They are by far the fastest at paying of any casino I've played it...and I've been playing online since 2000.

[SlotsWizard]

you can't compare the regular paytables to the "Random Jackpot" it's two totally different monsters

Actually that was a perfect analogy, and they can be compared because a portion of every bet is a bet on the random jackpot.

Whichever way they have implemented the jackpot is fine with me, but neither of us can say with certainty which method they chose, unless one of us was the programmer who coded it (I know it wasn't me - was it you? ). All we can do is speculate.

I started compiling posts from various casino representatives which contain clues about the random jackpots, but all I could find was this one:

The % contribution to the jackpots cannot be changed.
The reason that some jackpots go up faster could be for a number of reasons. The simplest explanation is down to the usage or if there is a high percentage of higher bet players.

This can especially be seen when some of the jackpots get quite large and more people decide to play them. Or if there are a number of people playing for $100 a spin, The Jackpots will thus go up faster.

It seems to imply that the mathematically fair implementation is used, meaning, a big bet contributes more to the jackpot and therefore has a proportionately better chance of winning it.

So sorry to iNetBet for not posting sooner but "YES" this was me that won the Mermaid Queen Sunday night! My first at iNetBet and it was great! I already have the money in my account. They are for real and I feel totally safe playing with them and pretty much only them. They are by far the fastest at paying of any casino I've played it...and I've been playing online since 2000.

Congratulations!!!