The World's Biggest Lottery Jackpot: Powerball's $1.5 Billion Drawing As 2015 came to a close, Powerball sales started to rise, and growing excitement turned into a ticket-buying frenzy. By the first Powerball drawing in 2016, the projected jackpot had reached more than $333 million, and the very next drawing crested half a billion.

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The largest Megabucks jackpot of all time was won in 2003 when a very lucky player won more than $39 million on the slots game. Trending Sisolak: Most Nevada businesses can have 35% capacity. From Florida – Two Big Slot Wins. While this may not make it to the Guinness Book of Records as one of the largest slot wins, a man identified as just Fred S. Made not just one but 2 slot jackpot wins in 2018. The Florida man made the winnings minutes in between. In the first jackpot, we won an incredible $1,291,918 with a bet of 20.

Online slots jackpots have grown immensely within the past decade. In fact, 11 jackpots have paid over $10 million in the last decade.

These prizes may not compare to the largest Powerball and Mega Millions jackpots. However, they’ve definitely made gamblers filthy rich.

As big as online slots jackpots are today, they’re about to get much bigger. One gaming developer plans to launch a $50 million jackpot within the coming months.

I’ll discuss this upcoming prize below along with how it’ll smash the records set by previous internet slots jackpots. I must add, though, that I’m not sure if this payout will truly materialize.

What Is the Biggest Online Slots Jackpot Ever?

Mega Moolah (Microgaming) and Mega Fortune (NetEnt) have paid most of the largest prizes in online slots history.

Mega Fortune set world records when it delivered €11,735,446 (approx. $13.3m) and €17,860,868 (approx. $19.5m) in 2011 and 2013, respectively.

Mega Moolah has taken the reigns within the past few years, though. It awarded record payouts of $20,057,734 and €18,915,872 (approx. $21 million) in 2019 and 2018, respectively.

The $21 million prize from September 2018 currently holds the Guinness World Record for being the biggest online slots jackpot of all time.

Hacksaw Gaming Announces Upcoming $50 Million Jackpot

Hacksaw Gaming is a developer that just recently came onto the scene. However, they’re already looking to make a big splash with a series of massive jackpots.

They’re going to roll out a line of “insured” jackpots that feature payouts worth between $5 million and $50 million. These prizes will also be listed in equivalent euro and pound amounts.

Every huge online slots jackpot available today is of the progressive variety. They take small amounts from each bet to fund the prize and need time to grow.

“With our new concept, operators can rely on having huge, exciting jackpots on offer without having to wait for the progressive jackpot to build up,” said Marcus Cordes, COO of Hacksaw. “It also enables smaller operators to offer the same huge prizes as the Tier 1s, levelling the playing field.”

Hacksaw’s plan involves launching My Lucky Number with a $25 million jackpot. This game is scheduled to come out somewhere around the middle of 2020.

From here, the developer will launch a flurry of other big jackpot games. $5 million, $10 million, and $50 million prizes are all on the agenda.

A Record Setting Online Slots Jackpot

Earlier, I covered how Mega Moolah currently holds the record for the biggest-ever internet slots prize at $21 million. It could be on its way to offering another such prize when considering that its “Mega Jackpot” is worth $11 million at the time of this post.

However, the $21m record could be a distant memory if Hacksaw’s plan goes off without a hitch. The proposed $50m jackpot would break the current mark by a wide margin at $29 million.

Even the second-largest jackpot in Hacksaw’s proposal would be a record-setter. At $25m, it would top Mega Moolah’s mark by around $4 million.

What Is Hacksaw Gaming?

Hacksaw Gaming definitely isn’t the biggest name in online gambling. One reason for this is that they’ve only been around since September 2018.

They gained a foothold in the industry by producing online scratch cards. Hacksaw has been successful in this endeavor so far.

One year after opening, they produced their first online slot in Stick ‘Em. This game, which revolves around a marshmallow mafia member, brought a totally new theme to the industry.

They’ve produced one other internet slot in Om Nom. A 4×4 slot based on desserts, Om Nom gained praise for its simple, yet unique, style.

Can Hacksaw Really Pull Off a $50m Jackpot?

Hacksaw has had a very successful start. However, I’m skeptical on their plan to offer the biggest slots jackpots known to man.

At the time of this post, they haven’t even been around for two years. Already, they’ve proposed slots prizes that would easily crush any payout that’s been offered so far.

Neither Om Nom nor Stick ‘Em features a top payout that’s anything notable. Their next upcoming slot, My Lucky Number, will allegedly leap onto the scene with a $25 million jackpot.

I’m not accusing Hacksaw of lying about what they intend to do. They’ve proven to be a reputable developer so far with their online slots and two dozen scratch cards.

Most likely, Hacksaw Gaming has secured large outside investments and/or big loans to help them offer these jackpots. They’re assuredly not announcing $25m and $50m prizes based on air.

Again, though, I want to see these jackpots before automatically believing that slots prizes will reach astronomical heights in less than a year’s time.

Will Hacksaw Encourage Other Slots Providers to Up Their Jackpot Game?

Microgaming and NetEnt have had no trouble offering big slots payouts in the past. Playtech and Yggdrasil Gaming have delivered massive prizes too.

However, none of these providers hold a candle to the upcoming Hacksaw insured jackpots. I wonder if the latter will kick-start an arms race to feature bigger and better top prizes.

Microgaming is best positioned to challenge Hacksaw’s $25m and $50m payouts. They currently seed Mega Moolah at $1 million, but they could increase the seed to $5m or $10m and encourage faster-growing jackpots.

Bovada Casino, which uses proprietary software, also features a large jackpot through Shopping Spree (currently $4.56m). They could conceivably offer bigger payouts when considering their large share of the US market.

GTECH has built a large jackpot through Aladdin’s Lamp €5 that’s worth over $4 million. They might be a dark horse contender for the future slots jackpot record.

Playtech, Yggdrasil, Realtime Gaming (RTG), Blueprint Gaming, and NetEnt are other possibilities that could factor in.

Of course, the idea that developers will suddenly began offering bigger jackpots just because of Hacksaw is pure speculation. But I wouldn’t be surprised to see at least 2-3 of these software providers make an attempt to compete with Hacksaw.

Should You Play for These Record Setting Prizes When They Launch?

Assuming these giant online slots jackpots become available as planned, they figure to cause hysteria among the gaming community. As for whether you should join in this frenzy depends on your personal preferences.

If you’re somebody who dreams of getting rich through slots, then you can best accomplish your dreams through these upcoming games. No slot machine—online or land-based—has ever paid out $50 million.

Only Megabucks, which is available in Nevada casinos, has delivered over $25 million. It currently holds the record for the biggest slots jackpot ever at $39.7 million (2003).

Therefore, Hacksaw Gaming’s slots will offer the largest prizes you can find at any casino. You should target these games above all if you have visions of mansions, Lamborghinis, and private islands.

Downsides to pursuing this prize include volatility and the odds. Regarding the latter, you’re almost assuredly not going to win $50m, $25m, or even $5m.

Of course, the dream is that you’ll defy the odds and win big. However, I wouldn’t count on it in this lifetime.

Any slot that offers even a $1 million jackpot will have serious volatility. Just imagine what kind of volatility you’ll deal with when a $25m or $50m prize is introduced.

Finally, you also need to worry about the taxes and potential payout structure if you do somehow win. Lumpsums for big gambling prizes usually only deliver 60% of the amount, while annuities (annual payouts) reduce the value of the prize when account for inflation.

Conclusion

Hacksaw Gaming is embarking on an insane plan to offer several insured slots payouts worth between $5 million and $50 million. The latter would smash the record for the biggest slots jackpot of all time.

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I’m still skeptical on whether these prizes will launch as planned. After all, Hacksaw is proposing to more than double the largest online slots jackpot ever.

Nevertheless, I’ll be watching with vested interest if these games do roll out as planned. Based on Hacksaw’s solid reputation so far, I’m guessing that they will actually offer the $25m and/or $50m payouts at some point.

Largest Slot Jackpot Win

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?

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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?

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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?

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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.

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