The flashing lamps, sirens and stunned silence before an outbreak of cheer-to hit Megabuck’s slot Jackpot is a moment once in a lifetime.
But when a lucky player celebrates his victory with several million dollars, behind the scenes, a carefully coordinated process is already in motion. The slot machine is unlocked, casino staff announces security and officials from the game’s manufacturers, international gaming technology, is called in to verify the profit.
“As soon as the jackpot hits, the game shows the winning amount and IGT’s central system then restores the broad area-progressive meter to $ 10 million, which is automatically sent to all other megabuck games connected to the system,” explained an IGT speechman.
Megabucks are unique because of its huge jackpot potential, low hit frequency and annuity payment options. Other jurisdictions in games, such as New Jersey, offer a version of Megabucks, but Nevada’s progressive areas offer the largest payout.
The exact odds of winning megabucks are not publicly revealed by IGT. Estimates from game experts indicate that the odds are about 1 in 49.8 million per spin. By comparison, the odds of meeting a royal flush in video poker 1 of 40,000, while the odds of winning the Powerball jacket pot is about 1 in 292 million.
Other progressive slot machines, such as Wheel of Fortune, Lightning Link or Dragon Link, offer more frequent jackpots but at lower quantities and usually pay in full immediately.
Unlike most slot jackpots, a megabuck’s payment is not as simple as printing a ticket or handing over a giant check. Since Megabucks is a state progressive system, its jackpot is financed by thousands of linked machines over Nevada, and IGT – not the individual casino – handles the payment.
Once the victory has been confirmed, the massive jackpot is restored to $ 10 million on each megabuck machine in the state. The winner is facing an important financial decision: take a reduced lump sum in advance or receives the full amount through a 25-year annuity.
The latest Megabucks Jackpot won last month at Virgin River Casino & Lodge in Mesquite. An anonymous player here for more than $ 12.3 million on a $ 5 bet on February 16. According to a news message, player Megabucks Spitfire Multipliers Red Hot 7S played.
In 2023, two megabucks won jackpots. The first was for $ 14 million, which won at South Point Hotel casino in April. In August, a player won $ 10.1 million at the Atlantis Hotel casino in Reno.
The biggest Megabucks jackpot in history won on March 21, 2003. A 25-year-old software engineer from Los Angeles won $ 39.7 million while playing at Excalibur Hotel casino. He had invested in the minimum amount required ($ 3) to enable a player to win the jackpot.
The longest dry spell without a megabuck jackpot was for two years (2015-2017) before a jackpot of $ 11.8 million at Fremont Hotel casino in central Las Vegas.
Contact David Danzis at ddanzis@ theplayerlounge.com or 702-383-0378. Follow @Ac2vegas-danzis.bsky.social or @AC2vegas_danzis on X.
