A guide to withdrawing your Mega Moolah winnings
If you are regular visitor to MegaMoolah.com you will know that the Mega Moolah progressive game is one of the most popular, if not the world's most popular, jackpot slot game.
While many people are well aware of the rules that govern the game (and if you are not, read this article) there is a little more confusion about what to do should you find yourself the beneficiary of a sizeable win when playing the game.
So, in this article, we are going to give you a step by step guide on how you can quickly and easily get your hands on your Mega Moolah winnings and the good news is, these rules should apply to you regardless of the size of your win.
In truth, what happens regarding a withdrawal from a win on Mega Moolah depends on just one issue and we will examine it in more detail below, before giving you a couple of examples of how withdrawing your Mega Moolah winnings will work.
Before this though, we need to make one thing very clear about the Mega Moolah slot and that is how it pays out its prizes to its customers.
How does Mega Moolah reward its players?
Before we look at the individual issues governing how you receive your winnings, the one thing to note here is that all wins on the Mega Moolah slot are paid to players in a single lump sum. Indeed, Microgaming insisted that its big progressive jackpot paid out the stated amount, whatever size it was, to a player in a lump sum.
So that means whether you win one million or ten million, Microgaming will always honour your win with a single payment.
That is great news and it avoids some of the issues that have dogged some people, especially big jackpot winners on some other games. In some countries, for example, some lottery winners only receive a fraction of the stated prize amount if they elect to receive a lump sum, they receive more if they elect to take their prize in installments.
To avoid this issue, Microgaming stated that all prizes on Mega Moolah would be awarded in full and as a single payment right at the very start.
So that's good news for players wanting that life changing win, but while it means that the Mega Moolah slot will pay your Mega Jackpot win in a single prize, it does not apply to all wins. There are steps to withdrawing money from a casino.
It is at this point that you need to ask yourself one important question:
The question you need to consider about Mega Moolah withdrawals
Let's now say that you have been lucky while playing the Mega Moolah slot and have hit a sizeable cash prize when playing. Naturally, you want to withdraw the money to your bank account to start to enjoy the fruits of your success. So here is the key question you need to consider as to whether you can do precisely that.
Do I have a bonus still active on my account at the casino?
As you will no doubt be aware, Mega Moolah is a hugely popular game and there are a number of offers available right now at casinos that will allow players to sign up and receive spins on the slot for a relatively small initial deposit.
If you sign up with a casino using a bonus, then there will be a wagering requirement attached to that bonus. The wagering requirement will be different from casino to casino and bonus to bonus, but f you check the terms and conditions of the offer, you will find details of what the wagering requirement for your bonus is.
It is crucial that you understand the terms of this bonus and the wagering requirement. That's because any winnings you land when having a bonus still active on your account, is likely to be subject to that very wagering requirement. (We will give you an example of how this works below).
You will then need to meet this wagering requirement in full, to lift the restrictions on your account so you can access and withdraw your funds.
If you never took a bonus when opening your casino account, or you have no active bonuses on your account, then there should not be any wagering requirements for your winnings. However, it is still prudent to check the terms and conditions at any casino to check this is the case.
You can easily check whether a bonus is still active on your account usually by checking your account details, or even contacting the casino. Another easy way to identify a bonus is by which cash pot you were using to play the game. If you were using bonus funds, then you have a bonus active on your account.
If you were playing using your own deposited cash, then you may still have a bonus active on your account and you'll need to check whether this is the case or not.
Whether or not you have a bonus active on your account is the fundamental aspect of how easily and quickly you can get your hands on your winnings as we will explain in the examples below.
For this example, we are going to say that each of the players shown signed up to the Deposit 1 for 80 Chances to Spin Mega Moolah offer.
Why your bonus status is important when withdrawing Mega Moolah winnings - Examples
- Example One - A player deposits 1 pound, dollar or euro, to claim the 80 Chances bonus and they win the Major Jackpot prize.
Seeing as this player won the jackpot prize on their initial bonus, this comes with a 60x wagering requirement.
Zodiac Casino award you our 80 Chances in the form of a £20 cash reward in your bonus cash, so your wagering requirement for this bonus is 60 x £20, which is £1,200.
Therefore, once you have won the Major Jackpot prize, you then need to play through at least £1,200 worth of spins before you can access your prize money.
- Example Two - A player deposits 1 pound, dollar or euro, to join Zodiac Casino, plays through their 80 Chances and then makes a second deposit of 100 receiving a 100% Matched Deposit Bonus of £100. When playing through this bonus cash, they land the Major Jackpot prize.
In the second example here, the player doesn't trigger a win on their first deposit bonus, so this then expires. However when they make their second deposit (and trigger casino's Matched Deposit Bonus for second deposits), they do land a win. Is this award still subject to a wagering requirement?
The answer to this is simple, as your win came when a bonus was active on your account then yes it is. The good news here is that the wagering requirement for the second bonus you receive at Zodiac Casino is 30x your bonus amount, which is half the wagering requirement of the 80 Chances first deposit.
However, it is also clear that if you deposit 100, then your second deposit bonus from the casino would be 100. This means that your wagering requirement for this deposit would be 30 x 100, which is 3,000. So you would need to make at least this amount of bets at the casino in order to lift the wagering requirement and withdraw your winnings.
- Example Three - A player deposits 1 pound, dollar or euro, to join Zodiac Casino, plays through their 80 Chances, they then make a second deposit and play through this and the associated bonus. The bonuses expire without the wagering requirement being met for either bonus. The player then makes another deposit, without taking any bonus, and then wins the Major Jackpot prize.
In this example, the player has used both the available bonuses at Zodiac Casino but has not met the wagering requirement of either, which means that the bonus funds they landed are either spent, or forfeited when the allotted time to meet the wagering requirement has elapsed. At this point, this player's account now has no bonuses active on it.
This player then makes a deposit into their account with no bonus attached and when playing their own cash, wins a Major Jackpot and in this happy circumstance, the player would be able to access the full amount of their win and withdraw it to their bank account without any wagering requirement needing to be met.
Indeed, this lack of wagering requirement on their own deposits is the reason why some more experienced slot players elect to not take a bonus when signing up at a casino, as it allows them free reign over what they can deposit and withdraw into their account.
It is always a very sensible approach when considering joining any casino, to consider the Wagering Requirement of any bonus you may receive when signing up. Pay particular attention to the size of the wagering requirement and the size of the bonus it applies to and also how long you have to meet the requirements of the bonus before it expires.
Also remember that a higher wagering requirement amount does not necessarily mean you need to spend more. A 60x wagering requirement on a 20 bonus (1,200), is a smaller total amount of money than a 30x wagering requirement on a 100 bonus. (3,000).
By carefully considering these issues, you can decide whether it is worth taking a bonus when you sign up, and also be fully aware that should you land some good wins on the Mega Moolah slot, you'll know exactly how much you need to play through on the site to release those funds to your bank account.
Please note that the Major Jackpot is only the second highest jackpot on the Mega Moolah slot. Often in the tens of thousands, but no where near the Mega Jackpot, which currently stands at 14.6 million and counting. Should you win the Mega Jackpot using your bonus money you won't need to worry about Wagering Requirements, or anything else for that matter.
Good luck and remember you can signup to a casino and opt to not take a bonus. Try these Mega Moolah vetted casinos:
- Blackjack Ballroom (Details)
- Casino Action (Details)
- Casino Classic (Details)
- Luxury Casino (Details)
- UK Casino Club (Details)
- Villento Casino (Details)
Note: Should you change your mind to claim a bonus you usually have from one week to one month from registration date to claim a bonus.
Byline: This article was published by Mega Moolah expert Henry. Media and other enquiries.