25 Dollar Slot Jackpots
March 21, 2003: A 25-year-old software engineer from Los Angeles won $39.7 million after putting in $100 in the Megabucks slot machine at the Excalibur to win the largest jackpot in Las Vegas. The WMS jackpot games are different from the usual Mystery Jackpot games in two ways: There are two jackpots. The meter rises by the amount won, not the amount bet. On the WMS games, it is my understanding that the Minor jackpot starts at $25 and must hit by $50. The Major jackpot starts at $200 and must hit by $500. HIGH LIMIT Dollar Storm Emperor's Treasure HANDPAY JACKPOT⋆ Video Slots Online ⋆️$25 BONUS ROUND Slot Machine Casino. MGSlots 21. HIGH LIMIT Dollar Storm Emperor's Treasure HANDPAY JACKPOT.️$25 BONUS ROUND Slot Machine Casino Dollar Storm High Limit slo. Video Slots - Free Online Games. Watch VEGAS HYEROLLER SLOT MACHINE JACKPOTS Video:.MEGA BIG WINS. $25 DOLLAR BETS JACKPOT HANDPAY - MAX BET SLOT PLAY. Video Slots - Download & Play Published: Friday, December 16, 2016 8:14 PM. The winner either loses 40% of the amount or gets it in parts for 25 years. But the progressive jackpots of most other slots are paid immediately and in full. All this suggests that Megabucks is a mediocre slot, which gained its popularity only thanks to record payments and a masterly organized PR campaign. See Also Las Vegas Progressive Jackpots.
- Appendices
- Slots Analysis
- Miscellaneous
Introduction
A must-hit-by jackpot, sometimes called a mystery jackpot, is one that is guaranteed to hit by a certain point. There are two good things about a large jackpot:
- The jackpot itself is larger.
- The probability of winning it is greater.
As with any progressive game, at some point the jackpot becomes large enough to sway the odds in the player's favor. This page will examine these 'target points' on some new slots by WMS with mystery jackpots. If you're interested in must-hit-by progressives on Ainsworth slots, please see my separate page on that.
This page assumes that a jackpot is equally likely to trigger anywhere between the starting value and must-hit-by maximum. This seems to be true for all makers except AGS. The reader should be warned that AGS must-hit-by jackpots tend to hit near the must-hit-by-point. For example, on a version of River Dragons, where the large jackpot starts at $4,000 and must hit by $5000, I calculate the average point it does hit is $4,945.49. So, please do not apply the information in this page to AGS machines.
General Rules
Following are generally how must-hit-by progressives work.
- The jackpot starts at a defined minimum amount.
- A point at which the jackpot will hit is randomly chosen on a uniform distribution between the starting value and maximum possible jackpot.
- A certain percentage of money bet, known as the 'meter rise,' will be directed towards the jackpot.
- When the meter crosses the predestined win point the player will be awarded the jackpot.
The WMS jackpot games are different from the usual Mystery Jackpot games in two ways:
- There are two jackpots.
- The meter rises by the amount won, not the amount bet.
On the WMS games, it is my understanding that the Minor jackpot starts at $25 and must hit by $50. The Major jackpot starts at $200 and must hit by $500. Based on my own play, the rate of meter rise, for each meter, is 0.00582 times money won.
These two images below show two versions of the pertinent rule screen on the WMS games.
Math
The general formula for the Target Point can be given as:
t = m × (h + r) / (h + 2r), where:t = Target Point
m = Max jackpot
r = Rise of meter rate
h = House edge of game (taking into consideration the average value of the progressive)
An unknown piece to this equation is h, the house edge of the game. No casino is going to tell you exactly what a given slot machine is set to. So, you may have to resort to industry averages. The following table shows the averages for Clark County, Nevada (where Las Vegas is). You can see for penny slots, which Mystery Progressives tend to be on, the overall house edge is 10.77%.
Clark County Slot Win to 11/1/2017 to 10/31/2018
| Denomination | Casino Win (pct) |
|---|---|
| $0.01 | 9.97% |
| $0.05 | 5.54% |
| $0.25 | 7.11% |
| $1.00 | 6.34% |
| $5.00 | 5.51% |
| $25.00 | 4.99% |
| $100.00 | 6.22% |
| Megabucks | 12.34% |
| Multi-denomination | 5.26% |
| Total | 6.82% |
Source: Nevada Gaming Control Board, Gaming Revenue Report for 12-month period ending October 31, 2018 (PDF, see page 4).
Although the information is a bit dated, you may wish to also consider the returns of random games I sampled in my page on Slot Machine Odds in Las Vegas. All things considered, I think it is safe to assume a house edge of 8% to 12% in Las Vegas. The nicer the casino and closer to the Strip the casino is, the higher the house edge will generally be. Outside of Vegas, you're on your own.
WMS Target Points
The math for the WMS games gets rather complicated because of the two jackpot and that they go up by amount won, not amount bet. So, you'll have to take it on faith that the tables below are correct.
The first table shows the Target Point for the Major jackpot, according to the house edge on the game and the amount of the Minor jackpot. In most situations, it will need to be about $482.
Major Jackpot Target Points
| Minor Jackpot | House Edge | ||||
|---|---|---|---|---|---|
| 14% | 12% | 10% | 8% | 6% | |
| $25 | $484.82 | $482.32 | $479.03 | $474.47 | $467.77 |
| $26 | $484.78 | $482.27 | $478.95 | $474.36 | $467.59 |
| $27 | $484.74 | $482.22 | $478.87 | $474.24 | $467.40 |
| $28 | $484.70 | $482.15 | $478.78 | $474.11 | $467.19 |
| $29 | $484.64 | $482.08 | $478.69 | $473.96 | $466.96 |
| $30 | $484.59 | $482.01 | $478.58 | $473.80 | $466.69 |
| $31 | $484.53 | $481.92 | $478.46 | $473.62 | $466.40 |
| $32 | $484.45 | $481.82 | $478.32 | $473.42 | $466.07 |
| $33 | $484.38 | $481.72 | $478.16 | $473.18 | $465.69 |
| $34 | $484.29 | $481.59 | $477.99 | $472.92 | $465.25 |
| $35 | $484.18 | $481.45 | $477.78 | $472.61 | $464.74 |
| $36 | $484.06 | $481.28 | $477.55 | $472.24 | $464.13 |
| $37 | $483.92 | $481.09 | $477.27 | $471.81 | $463.41 |
| $38 | $483.75 | $480.86 | $476.93 | $471.30 | $462.53 |
| $39 | $483.55 | $480.58 | $476.52 | $470.66 | $461.44 |
| $40 | $483.30 | $480.23 | $476.01 | $469.85 | $460.04 |
| $41 | $482.99 | $479.78 | $475.35 | $468.81 | $458.18 |
| $42 | $482.57 | $479.20 | $474.48 | $467.40 | $455.60 |
| $43 | $482.01 | $478.40 | $473.26 | $465.38 | $451.78 |
| $44 | $481.21 | $477.23 | $471.44 | $462.27 | $445.53 |
| $45 | $479.95 | $475.35 | $468.43 | $456.84 | $433.44 |
| $46 | $477.72 | $471.89 | $462.52 | $444.97 | $400.25 |
| $47 | $472.64 | $463.29 | $445.49 | $398.35 | |
The second table shows the Target Point for the Minor jackpot, according to the house edge on the game and the amount of the Major jackpot. In most situations, it will need to be about $48.
Minor Jackpot Target Points
| Major Jackpot | House Edge | ||||
|---|---|---|---|---|---|
| 14% | 12% | 10% | 8% | 6% | |
| $200 | $48.50 | $48.25 | $47.93 | $47.49 | $46.84 |
| $210 | $48.49 | $48.25 | $47.93 | $47.48 | $46.83 |
| $220 | $48.49 | $48.25 | $47.92 | $47.47 | $46.82 |
| $230 | $48.49 | $48.24 | $47.92 | $47.47 | $46.81 |
| $240 | $48.49 | $48.24 | $47.91 | $47.46 | $46.79 |
| $250 | $48.48 | $48.23 | $47.90 | $47.45 | $46.78 |
| $260 | $48.48 | $48.23 | $47.90 | $47.44 | $46.76 |
| $270 | $48.47 | $48.22 | $47.89 | $47.42 | $46.74 |
| $280 | $48.47 | $48.22 | $47.88 | $47.41 | $46.72 |
| $290 | $48.46 | $48.21 | $47.87 | $47.40 | $46.70 |
| $300 | $48.46 | $48.20 | $47.86 | $47.38 | $46.67 |
| $310 | $48.45 | $48.19 | $47.85 | $47.36 | $46.64 |
| $320 | $48.45 | $48.18 | $47.83 | $47.34 | $46.61 |
| $330 | $48.44 | $48.17 | $47.82 | $47.32 | $46.57 |
| $340 | $48.43 | $48.16 | $47.80 | $47.29 | $46.52 |
| $350 | $48.42 | $48.15 | $47.78 | $47.26 | $46.47 |
| $360 | $48.41 | $48.13 | $47.75 | $47.22 | $46.41 |
| $370 | $48.39 | $48.11 | $47.73 | $47.18 | $46.34 |
| $380 | $48.38 | $48.09 | $47.69 | $47.13 | $46.25 |
| $390 | $48.36 | $48.06 | $47.65 | $47.07 | $46.14 |
| $400 | $48.33 | $48.02 | $47.60 | $46.99 | $46.00 |
| $410 | $48.30 | $47.98 | $47.54 | $46.88 | $45.82 |
| $420 | $48.26 | $47.92 | $47.45 | $46.74 | $45.56 |
| $430 | $48.20 | $47.84 | $47.33 | $46.54 | $45.18 |
| $440 | $48.12 | $47.72 | $47.14 | $46.23 | $44.55 |
| $450 | $48.00 | $47.54 | $46.84 | $45.68 | $43.34 |
| $460 | $47.77 | $47.19 | $46.25 | $44.50 | $40.02 |
| $470 | $47.26 | $46.33 | $44.55 | $39.84 | |
Example: You suspect the Minor jackpot may be high enough to play. The Major jackpot is at $300 and you assume a house edge of 10%. The table above shows the Target point is $47.86.
AGS Warning
This page assumes that a jackpot is equally likely to trigger anywhere between the starting value and must-hit-by maximum. This seems to be true for all makers, except AGS. The reader should be warned that AGS must-hit-by jackpots almost never hit until they are near the must-hit-by point. For example, the large jackpots are supposed to hit by $5,000, but it is rumored in the advantage player slot community that they rarely hit below $4,990. So, please do not apply the information in this page to AGS machines.
Further Reading
- The Secret World of Video Poker Progressives, by Frank Kneeland
- Million Dollar Slots by Peter Liston
Written by: Michael Shackleford
Megabucks are slots with progressive jackpots, combined into a single network that covers casinos in several American states. The owner and operator of this network is International Game Technology, better known by its abbreviated name IGT.
Megabucks slot is considered as an alternative to state lotteries and enjoys incredible popularity among Americans. Actually, there is an opinion that IGT specifically released it to create a lottery competition. Since the beginning of the eighties in the twentieth century, when the slot was launched for the first time, this slot made dozens of players millionaires.
Thanks to the skillfully organized advertising company, every Megabucks jackpot, when it reaches a considerable size, causes a real excitement among the gambling public. And every hit of the progressive jackpot is widely covered in the media, attracting even more casino visitors to the slot. No other slot in the world is overgrown with so many incredible myths, rumors, and legends. But with all this, there are a lot of gambling experts and just experienced players who consider Megabucks a hideous slot that absolutely does not deserve so much attention. So, who is right: fans or opponents of this slot?
Where to Play the Megabucks Slot
- Secure
- Fast Withdrawals
| Rank | Casino/Hotel | Details | Booking |
|---|---|---|---|
| Caesar's Palace | $200-400Avg. Room Rates | View Deals | |
| 2 | MGM Grand | $70-140Avg. Room Rates | View Deals |
| 3 | Golden Gate | $30-60Avg. Room Rates | View Deals |
| 4 | Vegas Club | $40-80Avg. Room Rates | View Deals |
How to Play Megabucks
The classic version of the Megabucks slot from IGT is a 3-reel slot machine with the only one payline. In order to qualify for a progressive jackpot, the player must definitely bet three dollars. There are a lot of stories (both true and fictitious) about casino customers, who had the jackpot combination, but they did not receive any jackpot because of a bet less than three dollars.
The progressive jackpot is not completely nullified when a lucky winner gets it but starts to grow from a certain amount. In recent years, this fixed amount is $10,000,000. There are persistent rumors that soon this initial sum of the jackpot should increase by one million.
Megabucks Slot Odds
Strange as it may seem, there is no official information about the probability of winning the Megabucks jackpot. Some casinos say that the player has one chance out of 50 million, while others claim that this is one chance of 17 million. Whatever it was, when the sum of the jackpot is large enough, fans of this slot are ready to fly thousands of kilometers to try their luck.
What do Lady Luck’s favorites have from this slot? Do they get all that huge amount of money that is advertised? When you win a jackpot, events can unfold as follows. First of all, the lucky guy will receive a check for $1,400,000. Then the winner is given two or three months to decide how he wants to get his winnings. There are two options: the amount is divided into annual payments, which will be transferred to the player within twenty-five years, or he can get the winnings immediately at a time, but at a rate of 60% of the jackpot.
That is, having won ten million, the winner can receive in the second variant only six million, but at once and with one payment. After receiving the win, he still has to pay taxes. Unsurprisingly, almost all holders of Megabucks jackpots prefer to receive their winnings in the form of annual payments.
However, in this case, they also have to pay taxes, the Internal Revenue Service of the United States (IRS) very strictly follows this. Subtract from the total amount of the jackpot another 40%, because such winnings are taxed at the maximum rate. So, the next time you hear that someone has won ten million in Megabucks and immediately took all the money, you know that the lucky guy got a little over three and a half million at his disposal.
The Curse of the Megabucks Jackpot
As already mentioned above, there are a lot of urban legends about the Megabucks slot and its jackpot, mostly of a gloomy nature. For the most part, they describe the tragic fate of players who managed to win a huge jackpot. It is believed that almost all the lucky people either perish or suffer numerous woes. The cause of their numerous misfortunes is the so-called Curse of the Megabucks slot.
Of course, in these stories, there is much more fiction than the truth. However, there is no smoke without fire — some winners, really, seriously suffered after they won the jackpot. In particular, the further life of the waitress Cynthia J. Brennan, who won $34.9 million in 2000, was sad. A month and a half after the win, Cynthia and her sister were hit by a drunk driver. The sister died on the spot, and Cynthia was forever paralyzed. The guy who drove the car in a state of intoxication was imprisoned for twenty-eight years.
But the rumors about the curse of Megabucks spread even before the year 2000. Simply, this accident was widely covered in the press and made people remember about other similar events, which at that time did not become so resonant. In 2003, many media published a story about a 25-year-old player who became the owner of the Megabucks jackpot and either died from a drug overdose in a casino hotel or was killed in a street shootout. IGT companies had to work hard to convince the public of the falsity of these statements.
There are also a lot of rumors about underage players and employees of different casinos who won the Megabucks jackpot but could not get it due to existing rules. But none of these rumors received documentary evidence.
Many experts in the field of gambling suggest that ITG recently made relevant changes to the Megabucks system, which makes the jackpot play less often, but with larger amounts. Although officially the company claims that nothing of the sort has happened, this opinion remains very popular.
Where Could You Play Megabucks?
Most fans of slot machines and large jackpots are not afraid of the curse of Megabucks and are willing to play in this slot. You can find this slot in almost all real casinos on the Las Vegas Strip, as well as in other establishments in Nevada, California, New Jersey, Mississippi, and some Indian reservations. Each state has its own separate network of Megabucks slots, but the biggest progressive jackpots are expected in Nevada. In other states, jackpots are much smaller.
Why do Experts Consider Megabucks a Bad Slot?
Experts do not believe in the curse of the Megabucks slot, but this does not stop them from considering this gambling machine not worthy of attention. The fact is that this slot is very unprofitable for the player. Firstly, it has an extremely high percentage of the casino advantage, which reaches 10-15% (for comparison, many slots in the Las Vegas casino are limited to 2-3%). Secondly, the procedure for paying a jackpot is extremely inconvenient. The winner either loses 40% of the amount or gets it in parts for 25 years. But the progressive jackpots of most other slots are paid immediately and in full.
All this suggests that Megabucks is a mediocre slot, which gained its popularity only thanks to record payments and a masterly organized PR campaign.