Megabucks Slot Winners

• Las Vegas Megabucks Winners List
• Megabucks Payouts In Vegas
• Megabucks Slot Machine Jackpot Winners
• Current Megabucks Jackpot Las Vegas

• Appendices
• Slots Analysis
• Miscellaneous

Introduction

For that $33 million Megabucks jackpot, that would be more than $13 million. Payment options. Most slot companies give winners two ways to receive their money. The choice you make could have. Best overall odds, local winners, plus million-dollar minimum jackpots equal Tri-State Megabucks®! Tri-State Megabucks® is a $2 game that starts the jackpot at $1 million and has a second-tier prize of $30,000. It offers the BEST overall odds of any of our games at 1 in 5.9! Megabucks is a Nevada state-wide slot jackpot network that is owned and run by the slot machine company, International Game Technology (IGT). Considered Nevada's state lottery, Megabucks is extremely popular and has created quite a few millionaires in its 19-year history.

This page investigates the odds of the progressive jackpot slot machine, Megabucks, including the average jackpot and breakeven point.

With a megabucks raffle ticket, you have the chance to win money, door prizes, and enjoy a BBQ dinner with live music by the Hackensack Men and the Trenton Horns. The drawing will be Saturday, September 12, 2020 and the gates will open at 3:00 PM rain or shine. Megabucks slots have paid the biggest jackpots in the history of Las Vegas casinos. A lucky Utah player won $10.7 million while playing a Megabucks slot at Westgate Las Vegas Resort & Casino. She had bet $100 on the slot before she could win all those millions. She wants to visit the Philippines and purchase a.

For now, let's ignore the fact that a jackpot is paid by installments over 25 years and that the jackpot would be subject to income tax.

I don't know exactly how Megabucks is programmed. However, there is some information that is public knowledge. If we fit the pieces together, we can make a pretty good estimate of the point at which the return is 100%, known as the 'breakeven point.' Here is what we do know:

• According to John Robison, the probability of hitting the jackpot is 1 in 49,836,032. This figure comes from an article titled Megabucks closes in on record jackpot from the Las Vegas Sun, Dec. 24, 1999. That probability comes to (1/368)³, implying each reel has a 1 in 368 chance of stopping on the jackpot symbol.
• The Nevada Gaming Control Board indicates that the profit of Megabucks on both a percentage and dollar basis. The following is a summary for 1994 to 2009.

  Megabucks Win — 1994 to 2009

  Year	Win ($)	Win (%)
  2009	53,352,000	10.43%
  2008	83,981,000	11.85%
  2007	88,858,000	12.72%
  2006	100,923,000	12.39%
  2005	100,923,000	12.39%
  2004	67,326,000	10.54%
  2003	83,069,000	10.41%
  2002	76,842,000	11.98%
  2001	69,821,000	11.50%
  2000	69,103,000	9.75%
  1999	74,921,000	12.28%
  1998	134,943,000	12.25%
  1997	66,166,000	12.18%
  1996	57,619,000	10.03%
  1995	65,223,000	10.48%
  1994	46,760,000	9.44%
  total	1,239,830,000	11.39%

  The key piece of information from this table is that the overall profit of the game has been 11.39%. In other words, 88.61% is returned to the players.

• According to defunct source, starting in September 2005, Megabucks was reset to a jackpot of $10 million. Before that, the reset value was $7 million.
• According to a2zlasvegas.com, there have been 11 jackpots hit between September 2005 and the date of the last jackpot (Feb. 21, 2010). That same website shows a jackpot was hit on September 15, 2005. The number of days between then and the time of this writing is 1,619 days. We also see from that website that the total of the last 11 jackpots was $167,367,727. Of that, $110,000,000 was from the reset amounts and $57,367,727 was from the progressive contribution.

The portion of money returned to players in form of jackpots is thus $167,367,727/$1,644,589,056 = 10.18%. From the Nevada Gaming reports, we know a total of 88.61% is returned to players. That means that the portion returned to players in non-jackpots is 88.61% - 10.18% = 78.44% (The 0.01% apparent difference is due to rounding).

If there were no small wins, and no progressive contribution, then the return of the game would be $10 million/(3×(1/368)³) = 6.69%. As already shown, the total return from jackpots is 10.18%, leaving 3.49% coming from the jackpot meter. Here is a summary of where each $1 bet on Megabucks goes:

Megabucks Breakdown

The average point at which the jackpot will hit is 10 million + [$3 × 0.0349 / (1/368)³ Thebes casino no deposit. ] = $15,215,248. In 2006, when the jackpot was almost $16 million, IGT, Megabuck's creator, purchased ads in the local media stating that the jackpot was 'overdue' to hit. I'm quoted in a Las Vegas Sun article about it, titled 'Pennies ready to pop'. This would seem to indicate my $15.2 million figure is not far off. https://torrent-tactical.mystrikingly.com/blog/play-slot-machines-for-fun-no-downloads.

Las Vegas Megabucks Winners List

Quick hit casino slot. If j is the jackpot at which the game becomes a fair bet, with a 100% return, then we can solve for j as follows:

1 = 0.7844 + j × (1/368)³/3
j × (1/368)³/3 = 1 - 0.7844
j = 3 × (1 - 0.7844) / (1/368)³
j = $32,238,319.

The probability of any given jackpot growing this big is 1.41%. At the current rate of play, a jackpot should get this big once every 29 years, on average.

At any given time the return can be estimated as 78.44% + 0.6689%×m, where m is the number in millions of the current jackpot. New slot wins 2015. For example, at a jackpot of $15 million, the return would be 78.44% + 0.006689×15 = 88.47%.

Everything in this page should be taken as a ballpark estimate. Various factors could cause it to be off, including players not betting the full $3 and the fact that while 11 jackpots were hit in the study period, the expected number could be higher or lower.

It also bears repeating that the above does not factor in the annuity or taxes. Let's look at what happens if we do consider those factors. For the time value of money, let's use the return on long-term Treasury Bills. Megabucks jackpots are paid in a 25-year annuity. At the time of this writing a 20-year T-Bill paid 4.58% interest, and a 30-year one paid 4.74%. Let's split the difference at 4.66%. Using some actuarial math I won't get into, the value of the annuity is worth 61.07% of face value, based on that interest rate, and 25 annual installments, at the beginning of each year.

For taxes, let's assume close to the expected jackpot of $15 million. Under 2010 income tax rates, assuming the winner is filing jointly, and all other income exactly equals deductions, the taxes due will be 30.05% for 2010. Assuming no change in the tax law, that will drop over time, because the tax brackets will be adjusted upward, but the winning payments won't be. I tend to think the recent passage of health care will increase tax rates, especially on large incomes. Let's just assume those factors cancel each other out, to keep it simple.

So to keep things in round numbers, the winner will keep 61% after the annuity, and 70% of that after taxes. So the jackpot winner will see about 61% × 70% = 42.7% of his winnings in current dollars. Factoring the annuity and taxes, the breakeven point becomes $75.5 million. The probability of any given jackpot growing that big is about 1 in 283,000, and will happen once every 114,000 years. Again, I'm making lots of assumptions, so these estimates should be considered very rough.

After publishing this article, a reader quoted a page at slot-machine-resource.com, which states that after the first installment is made, the player is given the option to get 60% of the rest immediately, or stick with the installment plan. Tax implications aside, which favor the annuity, the interest rate at which the two options are equal is 4.581%.

External Links

• Megabucks Closes in on Record Jackpot from the Las Vegas Sun, Dec. 24, 1999.
• Nevada Gaming Control Board
• Slots Payout percentage, from Cassaon Casino.
• History of Megabucks Jackpots, from a2zlasvegas.com.
• Pennies Ready to Pop, from the Aug. 9, 2006 Las Vegas Sun.
• Megabucks, from slot-machine-resource.com.

The first pit stop for visitors in Las Vegas is usually a casino as this is the city where you can find the world's best slots and the best online casinos. There are a lot of other cities in the world that try to compete with Vegas, but very few will come close to the ambiance of The Strip.

As all the bells and whistles might get a bit overwhelming most visitors tend to forget (or not even care) about the enormous house edge casinos hold against their visitors. Let's not forget that a lot of slot machines in Vegas offer paybacks between 75% and 98% — meaning that for every dollar a player spends, he or she will only get between 75 and 98 cents in return. Just to mention: in online casinos this so-called Return To Player (RTP) is usually set somewhere between 93% and 98%, meaning gamblers in Las Vegas stand a lot less chance against the house.

It is even quite rare to find Las Vegas casinos advertising their slot odds to their visitors, which is a major drawback if you ask us. We would, therefore, encourage you to always first check out the RTP of a slot machine before you start playing for real money. As we're here to help we got you a list of 5 Vegas casinos that actually do tend to pay out a lot more than their competitors. This way you're fully prepared for your upcoming stay in the Entertainment Capital of the World. Have fun and make sure you earn some good bucks!

The top 5 most paying Vegas casinos

Megabucks

IGT's Megabucks has continued to pay enormous life-changing jackpots for close to two decades. Their slogan has always remained ‘Dream big. Win big'. They have a network of slot machines that they have linked all around Nevada. Megabucks boasts of a top prize that they build from a $10 million base amount. Players only have to spend $1 for a spin. However, if you are looking to win the top amount, you have to use $3. Although this sounds like an expensive investment, imagine leaving the casino with millions worth of winnings.

Megabucks boast that it paid the biggest slot jackpots in the history of Vegas. One of its lucky winners was Trinidad Torres. She is a 78-year-old from Utah who played $100 and managed to win over $10 million in the jackpot. She plans to use the winnings to travel to the Philippines and get a yellow Mustang.

Mandalay Bay

They have a gaming area with more than 1,700 video poker and slot games. It also features table games such as Baccarat, roulette and blackjack. They have a big 17-screen race and sports book with some of the biggest screens in the city. It also gives a plush VIP booth for extravagant spenders. The casino is known for offering some of the biggest jackpots to players.

Excalibur

More than a decade ago, a 25-year-old software engineer who was a Los Angeles Resident, managed to clinch the city's biggest jackpot on a slot. He played a $100 on the Megabucks machine. The reward was nearly $40 million for this young man. Is there a better investment than this?

Caesars Palace

This is a classic casino in Las Vegas that is also known for its upscale atmosphere. It is the place where you can find high limit games, including table games such as baccarat and blackjack, and test your luck. Those who fancy poker games can enjoy their 16-table poker room that comes with Wi-Fi and USB ports for charging. You will also find a race and sportsbook that offers numerous games to watch and bet on. This might be the place where you finally get to fulfill your dreams by winning a massive jackpot. A 49-year-old man from Illinois who described himself as a self-employed consultant used a $10 bill into the Megabucks machine and managed to hit a multimillion-dollar jackpot. This was also on his first spin too.

Aria Resort and Casino

This sophisticated and sleek casino has over 150,000 sq feet of gaming space. In it, you will find 145 table games and 1,940 slot machines. If you love gambling, try your luck at craps, baccarat, roulette and Ultimate Texas Hold'em, among others. The casino Aria is popular with poker players. It has a luxurious 24-table room exclusive for poker playing. They offer tournaments twice per day.

One woman was visiting her niece who lives in Las Vegas and decided to visit this casino. She tried her luck on the Megabucks slot machine by dropping $6. When the winning symbols appeared, she thought that the machine had broken down. It was her daughter who clarified things for her. She had won more than $12 million on that jackpot. What is more, four months later, another lucky player managed to win $10 million in another jackpot. Maybe it would be worth booking a room in this hotel and trying your luck in their Megabucks slot machine.

If you are resident of or visiting Las Vegas, why not pay a visit to any of the above casinos and try your luck. Who knows, you might become the next biggest winner.

Not going to Vegas Casinos any time soon? Try your luck with one of our recommended online casinos!

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