It would be no surprise if we say that the iGaming market is extremely dynamic. To gain a competitive edge operators need to continually improve their products and services. Ultimately, to grow and not just stay afloat, an operator must appeal to customers, meet their expectations, and capture their attention with unique offers.
A jackpot is a widely proven tool that helps casinos differentiate themselves from their competitors. Jackpots are normally run via a jackpot system. SOFTSWISS, however, has developed a completely new jackpot tool – the Jackpot Aggregator. Here we will discuss two types of jackpot tools, as well as the strengths and weaknesses of each solution. Let’s get started!
Casinos need jackpots, but why?
Flashy websites alone do not attract many players these days, but thrills do. When players have the opportunity to win a huge sum of money, they are much more invested in around. And that is exactly what jackpots offer. For players, it’s a chance to try their luck, rack up large winnings, and experience incredible emotions. However, what does the jackpot offer for operators?
- Brand awareness.
Attention towards a casino always increases when it features a jackpot that has captivating mechanics and a good prize pool. Therefore jackpots help establish a casino as progressive and reliable and contribute to brand awareness.
It will be difficult to surprise sophisticated bettors by offering yet another slot with sharp graphics in 2021 – you need to provide unique offers that stand out. A unique, branded jackpot is a good way to go.
- Growth of the audience.
A wide range of unique options for players makes it much easier for casinos to entertain their engaged audience and attract new bettors. In addition, there is a type of player called “a jackpot hunter”, who actively seeks out jackpot games and definitely will not miss your offer.
- Keeping up with progress.
Gamification, excitement, and fresh ideas are always relevant. Although jackpots came to us from the early days of poker, they are gaining popularity and unfolding in new forms in online gambling. It is important to spot this trend and offer the jackpot to the audience at the appropriate time.
What does a jackpot mean?
It would be fair to start with a quick note on the definition of a jackpot. The concept of the jackpot dates back to the late nineteenth century, and in today’s world of online gambling, the jackpot has retained its original meaning – a big win. Now, however, it is more than just money; online jackpots these days are powered by advanced jackpot software solutions.
To summarise, a jackpot is a marketing tool that encourages player engagement and retention. Depending on the context though, the term itself may refer to the win itself, the game, or its stage.
There are several types of jackpots:
- Progressive jackpots
This type of campaign can be divided into many sub-types, but they share one characteristic: the amount won at the end of the jackpot game is always greater than the initial amount. The pool grows with each wager, and it continues to grow regardless of how long it is played until it is won. Operators also benefit from progressive jackpots, since players need to place bets to increase their potential winnings: it is an incentive for bettors to play.
- Mystery jackpots
The size of the Mystery Jackpot usually depends on the number and value of bets on the platform over a given period, but the principle can vary. Usually, to qualify for this type of jackpot, a player has to meet the conditions set out by the gaming venue (play a particular game, reach a certain wagering threshold, etc.). The jackpot winner is determined by a random number generator.
- Multiple jackpots
A multiple or multi-level jackpot can be real luck for the player. Picking a particular game can nearly double the odds of winning because the operator is offering players several jackpots at once instead of just one. The jackpot can be a combination of several types of winnings.
- Fixed-prize jackpots
The prize amount for a fixed jackpot remains the same no matter how many players are playing or how many attempts each player makes. In other words, it does not change. You can also come across the name non-progressive or flat jackpots in relation to fixed-prize jackpots.
- Branded jackpot
Jackpots set up by a particular brand usually correspond to a special format, theme or occasion. Everything from the mechanics to the prize pool of the game is unique. Casinos can combine any of the mechanics and jackpot principles above to achieve their goal. This is the main feature of the branded jackpot.
Overview of jackpot software: Jackpot Systems
Essentially, a jackpot system is a technical system or platform for organising jackpot campaigns to entertain players and draw attention to the casino. When operators decide to diversify their iGaming brand’s offering, they proceed to select a jackpot system. This is an important step that affects how fast, expensive, entertaining, and legitimate the promotional campaign will be.
Depending on the functionality provided by the chosen jackpot software, the operator has different tools at their disposal to manage different aspects of jackpot campaigns (operational, financial, legal, and so on).
The main advantage of this jackpot software is that, until recently, it was the only tool available to the operator. As a result, the jackpot system offers all the perks of a jackpot in itself, including increased loyalty and audience engagement.
It is most often the price of the solution that becomes the issue: the cost of the solution includes the fee to use the product, with installation, setup, and maintenance being extra.
A highlighted disadvantage of such systems is a lack of uniqueness. It is typical for such systems to create online jackpot promotions by offering three or four options in one solution. There are usually settings that can be altered by the operator, but limit them in terms of customisation, providing a variation on one of the common types.
Also, the setup time is on average quite long. Since a physical server may be needed, the process can take up to three weeks or longer (the time varies).
Overview of jackpot software: Jackpot Aggregator
The Jackpot Aggregator is an innovative new product from SOFTSWISS that will revolutionise the world of jackpots. In essence, the Jackpot Aggregator is a separate ecosystem that provides each operator with access to a customisable cloud-based jackpot system.
Jackpot Templates are one of the main advantages. It is a solution that allows operators to save time and resources on developing their own jackpot solutions. At the same, casinos have the opportunity to apply diverse mechanics and non-trivial strategies. Operators can change all jackpot template settings according to their needs and vision to create a unique jackpot promotion
As of now, it is pretty clear that jackpots are more than just casino features. Instead, they are an integral part of marketing and business strategy. So one of the benefits of the Jackpot Aggregator is the ability to segment the audience. Thanks to this feature, the operator can offer different jackpot games to different groups of players. As a result, the offer becomes more personalised, which increases player loyalty and interest.
The Jackpot Aggregator integrates with several iGaming software systems – your online casino platform, game provider, and game aggregator will form synergies and strengthen the business.
There is no limit to how many jackpots can be played simultaneously. On average, the jackpot system setup time is up to 48 hours.
That is just a small part of the benefits that the Jackpot Aggregator offers. The innovative jackpot solution will continue to deliver new features and expand its use cases. Those who put their trust in new technology stand a chance of winning.
The setup stage is one of the longest and most time-consuming. The Jackpot Aggregator uses a virtual server instead of a physical one, so operators save resources and get to the market faster.
Below you will find a table that compares the features of two jackpot software solutions.
When it comes to the jackpot system, installing and updating software requires client involvement. Depending on the complexity of the jackpot software selected, the processes may take up to 7 days. The Jackpot Aggregator team takes care of these aspects and provides a solution as quickly as possible. As a result, our clients can focus on their business instead of getting bogged down with operational tasks.
With the comprehensive approach provided by the Jackpot Aggregator, the casino does not need to hire a separate maintenance team – we take care of that. Operators who work with jackpot systems mostly cannot escape operational concerns; they need to stay on top of things.
Functionality entirely depends on the choice of the system provider; the table just reflects a general trend. The purpose of both the Jackpot Aggregator and any jackpot system is to enable operators to create jackpot campaigns for their players. The main thing to consider is what tools these types of software offer and how they can help you scale your brand. The choice is ultimately up to each business owner.
The choice is yours
There’s a jackpot revolution on the horizon. Operators grab the biggest piece of the pie to attract a larger audience and catch the attention of players, and the jackpot is a great way to do that. Get quality support and service that meets your needs, choose the best jackpot software, and let your players experience a new level of gaming.
Join the Jackpot Revolution!