In 2012 the first online gambling licences began to be granted in Spain, and since then the presence of online casinos has revolutionised the Spanish gambling landscape.
More and more players prefer to gamble online on games such as slots, blackjack, roulette, and even bingo, rather than visit land-based casinos, or combine the two, as the gaming experience is very different.
One of the casinos that offer the possibility to play physically or virtually is Casino Gran Madrid, with its physical casinos Casino Madrid Torrelodones, Casino Gran Madrid Colón and Casino Torrequebrada (Málaga), and its virtual versions: Casino Gran Madrid Online, which is also the first casino with an online gaming licence in Spain, and CGM 7 stars, exclusively for residents of the Community of Madrid.
This casino network has provided us with the numbers of the Casino Gran Madrid Online for this article, and thanks to these figures, and extrapolating them to the online casino market, we can get an approximate idea of how much can be won in online slots and other popular gambling games such as roulette or Black Jack.
Top Online Slots Winnings and Why
For many casino players (both land-based and online) the games of choice are slots.
Slots are games of chance, i.e. fixed odds, and are the most popular casino game of all.
The highest jackpot to date in slots at Casino Gran Madrid Online has been $62,502, followed by other jackpots of $24,214 and $21,000. If you’re curious to know which slots specifically, they are as follows: Great Blue, Funky Monkey and Rocky.
By way of comparison, the highest jackpots awarded at Gran Madrid Casino Online’s roulette games so far have been $24,630, and $9,001 with BlackJack.
You may wonder why slot machine jackpots are higher than other online casino games. This is because online casinos have certain slots that offer progressive jackpots that accumulate money as customers play. It’s a bit like winning the lottery: you’re playing the slots, making a profit or loss, and at the same time you’re playing for the progressive jackpot.
Needless to say, if you want to try your luck at this online casino or with any of its progressive jackpot slots games, we can certify that all Casino Gran Madrid online games are reliable and safe, as they are all certified by the Directorate General of Gaming Regulation (DGOJ) attached to the Ministry of Finance (in the case of Casino Gran Madrid Online) and by the Directorate General of Taxation and Gaming Regulation and Management of the Community of Madrid (in the case of CGM 7 Estrellas).
Odds of Winning at Online Slots
The probability of winning money in a game with a slot machine is 18.3%, according to studies by Miguel Córdiga, professor of Applied Mathematics at the CEU San Pablo University.
The fact that it is purely a game of chance means that the payback percentage on slot machine prizes is fixed, as it is a game of chance and skill, strategies and tricks do not affect the games as much.
All slot machines generally have a payout percentage of more than 90% of the amounts wagered (usually higher in online casinos than in land-based casinos). This means that of the total amount of money that players wager, it is not 100% that is returned in the form of a prize, but a smaller percentage. The casino has a fixed advantage, its profit margin, even when online slots have bonus rounds where skill comes into play a little more.
The specific payout percentage for each online game should be reflected on each casino website, showing the actual return that each online slot has handed out over the last few months. This is an important factor to consider when choosing the best online slots to play.
Tips to Win at Slots
Although we have told you that the house edge is fixed on slots, and that as a game of chance it is difficult to use strategy, there are other ways to maximise your online slots winnings so that you can win more money at online slots.
A good tip is to get to know the slots you are playing. As we explained in the article How Slots Work – Get the Most Out of Them!, being aware of things like the number of reels, paylines, special symbols and bonus plays can improve your results, as you’ll be more cautious when betting and more effective when choosing your online slots betting strategy.
There are other strategies and tricks for winning at slots, improving your game considerably.