A system manages a progressive jackpot associated with designated gaming machines. The progressive jackpot is funded from a source of funds, and at a funding rate, independent of the paytables of the associated gaming machines. The system determines whether a player playing the associated gaming machine is eligible for the progressive jackpot using player eligibility rules, and further selects a winning player from among the eligible players (or from the associated gaming machines). The system uses funding rate rules to control the rate at which the progressive jackpot is incremented.