Mega Moolah jackpot hit! $5.5 million paid out

Dave

Engineer
webmeister
Joined
Jul 19, 2005
Location
North America
Hi all,

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

Chipeez

Wannabee SuperMan
Joined
Apr 8, 2006
Location
Utrecht
Damm.. I would have liked winning that jackpot..

well kudos to whoever won it...

Curious what casino it was hit..
 

vinylweatherman

You type well loads
Joined
Oct 14, 2004
Location
United Kingdom
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

Engineer
webmeister
Joined
Jul 19, 2005
Location
North America
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,
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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. :D
 

vinylweatherman

You type well loads
Joined
Oct 14, 2004
Location
United Kingdom
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. :D
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

Meister Member
Joined
Sep 3, 2007
Location
Italy
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

Engineer
webmeister
Joined
Jul 19, 2005
Location
North America
Interesting, vinylweatherman. I agree completely!

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

Dave

Engineer
webmeister
Joined
Jul 19, 2005
Location
North America
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

Newbie member
Joined
Feb 27, 2008
Location
England
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 :mad:
 

Mark

Dormant account
Joined
Feb 9, 2008
Location
Liverpool
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.
Hi Vinyl,

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
 

vinylweatherman

You type well loads
Joined
Oct 14, 2004
Location
United Kingdom
Hi Vinyl,

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
There are some MG casinos that state in their terms that all progressives are paid in US Dollars, which made me think that the MG central fund was in US Dollars, and that those that paid in UK Pounds for UK Pound accounts were somehow using some kind of subsidy or insurance scheme, with only the dollar amount coming from the central network. Most, though, have no such restrictive term, and indeed state that progressives are paid numerically in the currency of the base account.

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:rolleyes:

I believe the record is based on the numerical pot value, rather than what currency it converts to, however, when it comes to making a claim, the claimant will attempt to use the interpretation that favoured them.
 

arash

Newbie member
Joined
Jul 31, 2007
Location
Europe
Any information where this jackpot is been hit?
 

Jasminebed

Game old gal
Joined
Mar 13, 2008
Location
Ontario
Love the Moolah

Mega Moolah is amoung my fav's. I am sooo glad I did not hit it when I was playing on a freebie with a cap. I just couldn't resist a few spins, and I have had good luck in the past with the bonus round. I am sure the winner's smiling face will be on all MG sites soon!!

Maybe next time. I get a big grin on for 20 bucks ahead, but no one wants to take my picture. Hey, I usually grin over only a twenty dollar loss.
 

catrina m

Dormant account
PABaccred
Joined
Feb 8, 2007
Location
US of A
I have been playing the moohlah but havent seen the jackpot spin in 2 weeks at .25 a spin

Last night I jacked it up to 50c and got ahead $50 but it climbed back to the cellar

I need to post a nice win!!!!!

fingers crossed!
 

Westland Bowl

Tin Foil Hat Club Member
PABnonaccred
CAG
Joined
Nov 1, 2005
Location
America
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?
 

Slotster!

I predict a riot.
CAG
Joined
Oct 17, 2004
Location
Location, Location!
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?
Nah - this one is a random hit regardless of your denomination... I think the minimum was 25p? It's one of those where you've got a bigger chance of hitting the wheel the higher you bet, but thoretically the same chance of hitting the big one once you get there (if that makes sense?)
 

winbig

Keep winning this amount.
Joined
Mar 10, 2005
Location
Pennsylvania
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:rolleyes:

:lolup:

Could you imagine their press release??

"You can play all you want, but you have 0 chance of hitting the jackpot until it's over 5.9M" :D
 

hollyhand

Dormant account
Joined
Jan 16, 2008
Location
Spain
This is not the biggest online Jackpot yet so expect the next one to crack at around 7 Million in case it is won in Dollars again.:lolup:
 

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