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How Much Money Can You Possibly Win at a Casino?
23 Dec 2019
Professional gamblers have been known to take home life changing sums from the huge casino jackpots. It is not unheard of for players to take home millions of dollars derived from casino gaming in both landbased and online casino gaming. The amount of winnings however depends on the specific games that you choose to play with some having higher payouts than others. Winnings could also be subject to some set terms and conditions such as withdrawal limits, maximum win caps and other factors.
To help you play casino games like a professional and increase your winning potential, you need to identify the games that have the potential for big winnings. Below we evaluate how much you can expect to win when you play different casino games.
Casino Winnings and other Determining Factors
While strategy and getting a huge payout are important when it comes to casino winnings, how much you can take home is dependent on a number of factors. The main ones include the following:
- Type of casino games
- Withdrawal policy on winnings
- Amount of jackpot winnings
- Amount of tax on casino games winnings
- Slot and table games winnings
Winnings on different Casino games
Different games have different winning potentials. Some games have the potential to get you huge payouts with most games having a fixed maximum payout. Different software providers have also set different payout limits for their games based on how much you stake on the games. The major games clusters and their winning potentials include the following:
Progressive Jackpot winnings
Progressive jackpots (Jackpot City login) have the highest potential of turning your small bet into a huge payout. For example, the popular Real Money Pokies progressive slots has been known to produce millionaires with the highest win being £18, 915,721. Similarly, other real money pokies such as Real Money Pokies progressives has produced a win of £17,860,868.
The progressive jackpots have the highest payouts since they are a sum of a portion of the bets pooled together when the particular game is played. Real money pokies also have the highest chance of making you a millionaire with the highest ever casino win coming from the Real Money Pokies bucks slot with a payout of $39,710,826.36. The interesting thing to note is that you can win the huge jackpots without exhausting your budget and a small bet could by chance land you a great payout.
Winnings in slots games
Regular slots games also have the potential to get you great payouts even though they might be smaller than the progressive jackpots. However, they are much easier to win than the jackpot games. The slots games have different set maximum winnings and this could vary from hundreds of dollars to more than a million dollars. To win big payouts, you need to stake higher bets and sometimes bet on all paylines to maximize your chance of winning. However, being dependent on chance, there is no definite amount that you should stake and even small bets could still get you huge winnings.
Winnings on casino table games
Despite the hype that table games can change your fortunes as seen in the James Bond and other casino themed movies, this is rarely the case with table games winnings. There are limits to how much you can win on each round and they also require you to use strategy and skills to win. The high limit tables however have a chance to get you huge winnings on your bets.
To win, you should be armed with a satisfactory budget and be ready to play more rounds. You can also increase your chances at table games by playing at the poker tournaments or table games jackpots. The highest known win in table and card games was in 2014 where $10 Million was won on a poker tournament.
After Winning, How Much Can you Withdraw?
Winning is the first step in clinching the crazy payouts in casino gaming. However, there are limiting factors on how much you can actually take home. This includes the following factors:
Casino’s Withdrawal Policies
Different casinos have set terms on how much you can withdraw from the amount that you win on a jackpot or regular game. For instance, you need to meet some wagering requirements on regular casino games. You can also withdraw up to the maximum amount that is capped in winnings for that game. You need to check out these terms before deciding on which games to play at your preferred casino. Some casinos also have set limits on how much you can withdraw per transaction, daily, weekly and monthly limits which you should check when signing up at the casino.
Jackpot withdrawals and Taxes on Casino Winnings
Land-based and online casinos have different policies on how to withdraw winnings. For example, most online casinos may require you to withdraw a jackpot win in a single instance or divide it into many installments. You should also consider how much is taxed on casino winnings from your country.
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