The Jackpot that Paid Out Over $10 Million Four Times in a Year
Which one is the most generous progressive jackpot available today? If your guess was Microgaming’s Mega Jackpot, you are right. There are several huge progressive jackpots available at Royal Vegas casino powered by Microgaming but none as big as the Mega Jackpot. Over the years, the Mega Jackpot made several millionaires, four of them in 2016. 2015 was an equally generous year for the jackpot, starting with April when a lucky Royal Vegas player struck it rich with a CAD 7.5 million win, and closing with October when Mega Moolah set a world record with its payout. Still, even if it’s one of the most played games at the Royal Vegas and beyond, how can one progressive jackpot pay so many big wins in such a short term?
How do pooled progressive jackpots work
A progressive jackpot is a jackpot that grows by a small amount with every spin on a slot machine. These jackpots can be individual, linked to a single game at a single casino or pooled, meaning that a large number of networked slot machines contribute to a big pool of money with each spin. Mega Moolah is one of these – each credit played at the Royal Vegas and all other casinos in the network add a tiny bit to its total.
When won, a progressive jackpot diminishes or resets to its base value, depending on the circumstances. Mega Moolah has a “seed value” of €1 million, meaning that at the moment it’s won in its entirety, it resets to this value. Depending on the currency used by the player, the value of the win (the value by which it diminishes) can be different. This explains how Mega Moolah could grow fast enough last year that, even with repeated big wins, it could make four payouts worth millions over 12 months.
Mega Moolah: big jackpot wins in 2016
According to Casino Listings, Mega Moolah paid out major wins four times in 2016:
- In April 2016, a lucky player at the Spin Palace Casino won $10.42 million
- In June 2016, a New Zealand player at the recently launched Casinoland won $10.14 million
- In August 2016, a lucky player at the Zodiac Casino won the largest mobile progressive win ever, worth $11.6 million
- In November 2016, a YakoCasino player hit the last major jackpot of the year, worth $11.63 million
The jackpot is calculated in Euros (€) but players were likely playing in their local currencies (the NZ player above was most likely playing in NZ dollars, worth about €0.66 today). This explains how the jackpot could grow big enough to pay out seven-figure wins four times in a year.
Congratulations to the winners.