Mega Moolah jackpot hit! $5.5 million paid out

[Dave]

Hi all,

Someone hit the Mega Moolah jackpot a short while ago. It paid out $5,556,736. The current jackpot is now $2.7 million.

[Chipeez]

Damm.. I would have liked winning that jackpot..

well kudos to whoever won it...

Curious what casino it was hit..

[mattrickl06]

Why does it start at £2.7 and not from £1.0m?

[vinylweatherman]

Why does it start at £2.7 and not from £1.0m?

Perhaps the pot was boosted to encourage further play.

I predicted earlier that the first hit would be held off till a new internet record was reached, although I suggested nearer $5.8 million.
My further prediction was that the jackpot would now hit far more often now that MG have the internet record.
It DID hit earlier though, but conveniently in South African Rand, so the total barely dropped. If this was hit in US Dollars, they may have allowed for play in UK Pounds in resetting to $2.7m rather than the $1m indicated.

[Dave]

Why does it start at £2.7 and not from £1.0m?

This is because the winner was playing in USD. Had they been playing in GBP, it would have reset to $1 million.

5,556,736 USD is roughly 2,786,030 GBP. (according to Google, here)

Subtract £2,786,030 ($5,556,736) from £5,556,736 (since Microgaming jackpot values are stored in the bank in GBP) and you get £2,770,706 -- roughly the current jackpot size.

When someone wins a Microgaming jackpot, they win the numeric amount shown, in whatever currency they are playing in. This can be USD, GBP, Euro, or South African Rand.

The first-ever Mega Moolah jackpot (Nov. 16, 2007) paid out 4.3 million Rand, which was equal to about 313,000 GBP at the time. As a result, the first-ever Mega Moolah jackpot reset itself to just under £/$/€/R 4 million!

I hope this makes sense.

[vinylweatherman]

This is because the winner was playing in USD. Had they been playing in GBP, it would have reset to $1 million.

5,556,736 USD is roughly 2,786,030 GBP. (according to Google, here)

Subtract £2,786,030 ($5,556,736) from £5,556,736 (since Microgaming jackpot values are stored in the bank in GBP) and you get £2,770,706 -- roughly the current jackpot size.

When someone wins a Microgaming jackpot, they win the numeric amount shown, in whatever currency they are playing in. This can be USD, GBP, Euro, or South African Rand.

The first-ever Mega Moolah jackpot (Nov. 16, 2007) paid out 4.3 million Rand, which was equal to about 313,000 GBP at the time. As a result, the first-ever Mega Moolah jackpot reset itself to just under £/$/€/R 4 million!

I hope this makes sense.

It would, however, some MG casinos state that progressives are always paid in US Dollars, even though players might have accounts in UK Pounds (like myself). If it is the case that I win in an account denominated in UK Pounds, and MG themselves pay from a bank in UK Pounds, WHO pockets the difference in those casinos that insist on paying only in dollars?
If I have to BET in Pounds, surely I should be PAID in pounds. If MG are prepared to make central payment in the currency of the account hitting a progressive, WHY are individual casinos allowed to veto this, and insist players only get the numeric DOLLAR value - after all, THEY don't have to foot the bill for a CENTRAL progressive; further, if the rule was fair both ways, the player playing in SA Rand should have been paid the DOLLAR value.

If I ever hit one of these, I would expect to be paid in the currency of my account, and would be VERY annoyed to find I had only won half what I thought I had.

[parpol]

I predicted earlier that the first hit would be held off till a new internet record was reached, although I suggested nearer $5.8 million.
My further prediction was that the jackpot would now hit far more often now that MG have the internet record.

But the records on the Internet does not belong to intercasino?
More than $ 8 million ... converted into euros!

[Dave]

Interesting, vinylweatherman. I agree completely!

Does anyone know which MG casinos might be doing it this way?

[Dave]

But the records on the Internet does not belong to intercasino?

Yes -- according to my records, the Millionaire's Club jackpot paid out nearly 5.9 million on May 15, 2007.

[mattrickl06]

Do you reckon it has more chance of going again soon then, as only half of the main pot was won??

I was on the wheel about 30 secs before it dropped