Major win

[jetset]

WEEKEND GOLD STRIKE

Almost $5 million won on Party Casino.com

There's an as yet unidentified Party Casino.com VIP player celebrating this weekend after hitting one of the largest progressive jackpots so far this year, worth a useful $4 978 336.20.

It is known that the big win was achieved on Party's Gold Mega Fortune Wheel jackpot slot, but full details have yet to be released by the Gibraltar-based company, although it is believed to be the biggest jackpot yet won at this particular online casino.

The Gold Mega jackpot reached its multi-millions level on November 30th, according to an earlier press release by the company.

 

[rockycatt]

for the winner a great life

 

[lots0]

Congrats to the big Winner

Hey Jet, do you know if they are going to pay off in a lump sum or as an annuity?

 

[Wildfire7]

With ever expanding Casinomeister membership you would reckon that sooner or later somebody from here will win one of these.

I will pm my begging letter to you as soon as you post that screenshot!

Mike

 

[same_old]

Yeah I would really like to know how they will pay this client out- they did state he was a high roller so will they acomodate him?.

On another note it would be good to see what the highest win is for a casinomeister member?

 

[winbig]

Yeah I would really like to know how they will pay this client out- they did state he was a high roller so will they acomodate him?.

If I were a player there and they paid him in one lump sum, I'd be pi$$ed off to say the least. Their T&C clearly state (or at least did before) that any progressive will be paid out in 20 year installments...

 

[Wildfire7]

If I were a player there and they paid him in one lump sum, I'd be pi$$ed off to say the least. Their T&C clearly state (or at least did before) that any progressive will be paid out in 20 year instalments...

I wouldn't, for any amount this large I would expect to be paid in full, take my money and live off the interest. (Which would still be significant)
It may accrue more over 20 years but what if something goes wrong leaving you high and dry.

In an ever uncertain financial world, who is to say that the people responsible to pay this money will still be around in 20 years or so, I mean if a pension cannot be guaranteed then what chance a sum this size, even the UK government has only just started guarantying bank deposits upto 50k.

Mike

 

[winbig]

I wouldn't, for any amount this large I would expect to be paid in full, take my money and live off the interest. (Which would still be significant)
It may accrue more over 20 years but what if something goes wrong leaving you high and dry.

In an ever uncertain financial world, who is to say that the people responsible to pay this money will still be around in 20 years or so, I mean if a pension cannot be guaranteed then what chance a sum this size, even the UK government has only just started guarantying bank deposits upto 50k.

Mike

You missed my point....What I'd be pi$$ed off about is the following scenario:

Low roller hits the $5M progressive = gets paid over 20 years
High Roller hits the $5M progressive = gets paid in one lump sum

 

[jetset]

Congrats to the big Winner

Hey Jet, do you know if they are going to pay off in a lump sum or as an annuity?

Not sure, lots0.

We have an enquiry in with Party but it's the weekend so I doubt the head office comms folks will respond before Monday (or at all - it's often a crapshoot!)

We've had a long discussion at CM before on this very contentious subject of immediate payment or by instalments, and there have been some appalling cases of winners being screwed around.

Remember the African Palace million + winner and her instalments and those cheapskates that tried to persuade the winner to take a lesser amount in order to get a one-time payout?

Playtech simply ignored all enquiries about whether they paid out in one tranche or not, and whether they sanctioned their casinos offering 'deals' to winners.

I know Microgaming pay out in one tranche, and if memory serves Cryptologic do as well. Not sure on the Party Gaming/RTG/Playtech/Rival et al.