The faucet payouts work as follows:
1) You are credited a random amount from 175 to 250
2) The amount is multiplied by up to 15x based on your betting level
3) The amount is then multiplied again based on your moderation level
4) If you happen to be a high bet rank user with a high mod rank, your multiplier is then capped to a certain limit
5) Four rolls are made, each for a one of the jackpots. If you roll and win multiple, the highest one is selected
6) If you win a jackpot, your payout is then multiplied by the jackpot's multiplier.
As for jackpot odds, you can expect to see at least 1 mini per day and a couple minors per week if you hit the faucet limits.
The odds for the higher jackpots are somewhat more rare, but they should definitely show up if you keep going for em.
The jackpot multipliers are:
Mini: 4x
Minor: 16x
Major: 256x
Maxi: Secret