Evolution Gaming has announced plans to launch what it describes as the world's biggest online live casino progressive jackpot.

The company plans to add the Jumbo 7 Jackpot to its live-dealer Casino Hold'em game with an initial jackpot fund of €1m.

Jumbo 7 Jackpot offers players big wins through a simple side bet, with the ability to pay out even when a participating player folds or is beaten by the dealer's hand.

The top-level jackpot prize is offered on a Seven Card Straight Flush, while a second level of jackpot prizes offers lower fixed payouts for a range of other hands.

"By Evolution contributing the whole €1,000,000 to start the Jackpot, it is our way of saying ‘thank you’ to operators and players," said Evolution's chief product officer Todd Haushalter.

Haushalter added that with the player volumes currently seen on Casino Hold'em, the jackpot could potentially grow to over €30m, making it one of the biggest table game jackpots.

"That sort of money makes playing the game a lot more fun, and that is our mission with this Jackpot version of Casino Hold’em.”

Evolution clients wishing to offer the Jumbo 7 Jackpot in Casino Hold'em will be required to enable the offering through an optional programme.

Shares in Evolution Gaming Group AB (Co. Data) (STO:EVO) were trading up 1.55 per cent at SEK426.00 per share in Stockholm Monday morning, the last day of trading for the shares on Nasdaq First North Premier before their debut on the Nasdaq Stockholm main market on Wednesday June 7th.