Bitcoin, Mega Moolah, and a dream: A best-case scenario
Who among the many Mega Moolah players out there doesn't dream of eventually winning the Mega Jackpot? Dreaming of the jackpot is normal. Just knowing you could hit it is one of the things that makes online gambling so enjoyable. But could you do better? Is it possible to win more by winning the jackpot?
The short answer is 'yes'. We are not known for short answers here at our website, so let us unpack it a bit more. We will start with the premise that going over and above winning the Mega Jackpot is precipitated by gambling with cryptocurrency. We will just assume Bitcoin for the purposes of this discussion.
You can play Mega Moolah with Bitcoin by:
- Making a direct deposit.
- Using a BTC debit card.
- Utilising an online payment solution that supports crypto.
Your deposit method matters less than the fact that you are depositing Bitcoin (BTC). Once deposited at the Bitcoin Casino, your BTC acts just like your euros, pounds and dollars. You receive credits in exchange for your deposit. You then use those credits to gamble. Any winnings you realise while playing Mega Moolah are added to your account as credits, which are then converted to currency when you withdraw.
Minimum Mega Jackpot amount
The next thing we need to talk about is Mega Moolah's minimum amount for the Mega Jackpot. It now stands at 1 million GBP, EUR, USD, CAD or NZD. That means whenever the Mega Jackpot reverts back to its default amount, it goes back to 1 million. It then grows from there until someone wins it again.
You would instantly be a millionaire if you won the Mega Jackpot. It would not matter what currency you deposited prior to playing. That is a good starting point. But could you do better? Yes. When you use cryptocurrency as your preferred deposit method, you can actually do better on both ends. How? By taking advantage of price volatility.
The daily price of Bitcoin
Bitcoin is undeniably the world's leading cryptocurrency. It takes first place in virtually every category including market capitalisation and price. It's no wonder that nearly all online casino properties that accept cryptocurrency deposits also accept Bitcoin.
The thing most important to this discussion is the daily price of Bitcoin. At the time this post was written, Bitcoin was trading at just about €9,100 - more than double the price at the start of the year. So if you had bought a single coin earlier this year, you would now be looking at a nice profit.
This is the starting point for using Bitcoin to go above and beyond the Mega Jackpot. The next point of discussion relates to gambling with your BTC profits. We will use that fictional first coin you purchased on January 1 as a reference point.
Gambling your BTC profits
So let's just say your BTC profit is €2,000 in profit since you purchased your coin. Remember that you do not have to sell BTC as full coins. Like every fiat on the planet, Bitcoin is divided into multiple denominations. You can buy and sell in smaller denominations.
Here's are some of the BTC denominations:
- Bitcoin (BTC) = 1
- centiBitcoin (cBTC) = 0.01
- milliBitcoin (mBTC) = 0.001
- microBitcoin (uBTC) = 0.000001
- Satoshi = 0.00000001
You could take your €2,000 in BTC and put it into your online gambling account leaving your original amount in your wallet!
Already you are ahead of the game because you are gambling your profits. You are not taking money out of your regular budget to play Mega Moolah. This is money you are prepared to lose if it comes to that. Hopefully it does not.
You win the jackpot
So now you have deposited into your online gambling account and made your way to the Mega Moolah game. You start with reasonable bet amounts just to ease your way in. You win some, you lose some. That's the way it goes. Now imagine you get down to your final $1,000 and you are feeling like you're never going to win. But then the Jackpot Wheel appears - read our article How many spins do I need to play to trigger the Jackpot Wheel?
You wait a few seconds, gather your wits about you, and spin the wheel. You can hardly believe your eyes when it stops on the Mega Jackpot slot. You are an instant millionaire! And just to make this a bit more intriguing, let's say the jackpot is worth €4 million.
You have just turned your BTC profits into a multi-million-dollar Mega Jackpot win! That is fantastic on its own. But wait. Remember that we want to go above and beyond the jackpot. How do you do that? By putting some of your winnings back into BTC.
Buy more BTC
We would never advocate taking your entire jackpot and putting it back into BTC. In fact, we wouldn't advocate putting your newly acquired assets into any single vehicle. That is too risky. You are always better off diversifying.
That notwithstanding, putting some of your winnings back into BTC represents an opportunity to make more money. Keep in mind that Bitcoin has more than doubled since the start of the year. Could you repeat that success by using €0.5 million of your winnings to purchase more BTC? Absolutely. What if Bitcoin goes ballistic? That €0.5 million could turn into €5 million very quickly as we've already seen happen to several people who bought Bitcoin in the early days.
It's all a gamble
What we have proposed here is possible in theory. Practically speaking, it is not likely to work out so neatly. We propose this only as a best-case scenario just to show you that it is possible to do more with your money than you realise. And yes, it is all a gamble. We get that.
Traditional investors and economists tend to have a negative view of cryptocurrency because they see it as too much of a gamble. Their concerns are legitimate. But you already gamble on Mega Moolah. Gambling is a hobby you enjoy and one that your income supports. As such, cryptocurrency is a bit different for you.
You see BTC as a way to fund your gambling hobby outside of the traditional banking sector. That it is. Whether you choose direct BTC deposits or some other method of depositing, your bitcoins fuel every Mega Moolah session. That's great. But there are some benefits to pursuing the strategy mentioned in this post.
If you start with a predetermined amount of BTC that you are willing to gamble with as an asset, you can start gambling without ever playing Mega Moolah. You buy coin based on a gamble that the value of that coin will increase.
Now that it is, you can take the profits out of your cryptocurrency account and use them to play Mega Moolah. Here's why doing so is a good idea:
- Liquidating your profits - One of the negative aspects of investing is that you can lose your profits as quickly as you make them. By taking the profits out of your cryptocurrency account, you are protecting them against further loss. What you do with them afterward is an entirely separate matter.
- Gambling-only profits - Next, by committing to only gambling your BTC profits, you are not jeopardising your regular budget. There are no worries of not being able to pay your utility bill because you are not gambling that money.
- Increased profitability - As we have explained in this post, the third benefit is potentially increased profitability. Should you be one of the lucky winners able to capitalise on your BTC deposits, you would then have more money to put back into your BTC investments.
Do what you do wisely
This post is presented as a best-case scenario in which you use BTC to win the Mega Jackpot, then turn that jackpot into additional BTC earnings. Doing so is entirely possible under the right conditions. However, we would be remiss in our responsibility if we did not encourage you to do what you do wisely.
Both Mega Moolah play and investing in BTC are gambles. Neither one guarantees a payoff of any kind. In fact, you could lose everything you put in the game. That is part and parcel with both enterprises. So be wise; be responsible.
There's a famous gambling quote that is a good one to remember when gambling; "Eat your betting money but don't bet your eating money."
We advocate putting controls in place to guarantee responsible gambling. You can read about them in some of our other posts. Likewise, put some controls in place to govern your cryptocurrency investments. Do things wisely and responsibly and you could end up being one of the lucky ones who get rewarded with a jackpot win, a huge Bitcoin price increase, or both.
Byline: This article was published by Mega Moolah expert Henry. Media and other enquiries.
Next article: Can United States citizens play Mega Moolah?