Why does it start at 2.7 and not from 1.0m?
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,You do not have permission to view link Log in or register now.)
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.
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 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.
The progressives are paid out in your base currency, if you play in , you would have recieved the whole jackpot in .
A small percent of your stake, whether $ or goes towards the total. If you are playing in $ the jackpot goes up less, hence you contribute less, and win less.
Hope that makes sense
Is this the jackpot that you had to bet the maximum in order to have a chance at winning the jackpot? The max bet was about $6 per spin for me! It was too expensive to play that slot unless I put less coins on each line but then I wouldn't qualify to win the jackpot, huh?
As for the record, it was very close, and I would have though MG would have kept the lock on just a little longer to beat Intercasino
More details in a release from Casino Rewards today:
"BlackjackBallroom.com has made a very lucky player an incredible $5,556,753.68 richer.
Klaus E., from Finland became an instant millionaire last Friday when he placed a $0.50 bet on the Mega-Moolah Progressive Slot Machine and walked away $5.56 million richer. He couldn't believe that he had won and says he was stunned and shocked and "my hands were shaking!" He hopes to pay off his apartment and go on a vacation as the first of many things he can do with his huge online casino win.
A CasinoRewards representative has said, "Klaus has just become part of an elite community of online casino players who have 'hit it big' and joined the exclusive CasinoRewards Millionaires' Club. We congratulate him on his win and look forward to joining him in his celebrations."
Blackjack Ballroom online casino is a proud partner of the long established CasinoRewards group, who has been in operation since September, 2000 and has a total of 18 popular online casinos under its loyalty program.
CasinoRewards.com is part of the Microgaming community and this jackpot win has been the biggest for both established groups. Klaus has become the 4th Member of the CasinoRewards Millionaires' Club, and brought the total progressives wins across the CasinoRewards Network to over $27 million.
Roger Raatgever, CEO, Microgaming, says, "Those that say thirteen is an unlucky number have only to take one look at Klaus E. who not only becomes the Microgaming Progressive Jackpot's thirteenth millionaire, but by far and away the biggest jackpot winner we've ever had. Mega-Moolah has been tantalising players for months now and its finally delivered on a massive scale - with $5,556,753.68 being one of the largest payouts this industry has ever seen."
Arrangements are currently being made to fly Klaus to Sydney, Australia where he will be presented with a check of his winnings and celebrate what is the biggest win in Blackjack Ballroom's history. His win proves that when luck strikes, it hits hard and you don't have to play big to win big."