How is the Mega Moolah jackpot amount reset after each win?
We already know that Mega Moolah is very different to your standard slot game. On a typical slot, there will be a top prize that can be won in either the base game, or during a bonus round, and that amount hardly changes.
However, on Mega Moolah, the situation with the progressive jackpot is very different. While the base game jackpot remains at 75,000 coins in the base game and 225,000 coins in the Free Spins bonus round, regardless of any other factors, the four progressive jackpots in the game change by the second as more money is added to the fund due to people spinning the reels and playing the game.
Now on a standard progressive jackpot slot, that is fine. The jackpot will grow until it is won, then the lucky player banks the whole jackpot prize, the jackpot prize fund is reset back to the seed amount and then the game continues, it is very simple and easy to follow, especially when most progressive jackpot games are played in just a single currency.
However, Mega Moolah can be enjoyed by players using a number of different currencies and this means that the progressive jackpots can be won in different currencies too. This then creates a situation where different jackpot wins of the 'entire' amount displayed, can have different values based on the currency in which they have been won.
What do we mean? Well, an easy example is to say that US$10 million is different in cash terms to £10 million. At the current exchange rate, 10 million US Dollars equates to around £7.56 million UK Pounds, so the £10 million win is worth more in real terms.
That is the case when you compare any value win in any currency against the same value win in other currencies and of course, this then means that even if you win this theoretical 10 million jackpot prize on Mega Moolah, how much of that prize will be paid to you would differ depending on the currency in which you have been playing.
It is this which determines what the Mega Moolah jackpot amount is reset back to after a player has landed the top Mega Moolah prize.
The Mega Moolah Jackpot
The first thing to note is that although there are four progressive jackpot prizes on Mega Moolah, when we refer to 'the jackpot' in this game, we mean the Mega Jackpot, the largest of the four jackpots which is guaranteed to be at least 1,000,000 and can grow far beyond that amount.
What we know for certain about this jackpot is that the minimum amount that will be guaranteed to always be available on the Mega Moolah slot to be won is 1,000,000. Furthermore, Microgaming seed that amount using British Pounds as the base currency for the slot. There is a good reason for this beyond it being the currency used in the Isle of Man (where Microgaming is based) which we shall come to later.
Players are free to spin on the Mega Moolah slot from as little as 0.25 per spin in their chosen currency. A small proportion of that wager then gets added to the progressive jackpot fund on every spin, which is why you can see the progressive jackpot amount increasing every second as more players play more spins on the slot.
How much the jackpot increases by is determined by two factors; how many people are playing the game at any time and also how much they are wagering per spin on playing the game.
At some point, one of these players spinning the reels will trigger the Jackpot Bonus game and on one of these Jackpot Bonus game triggers, a player will eventually land the big progressive jackpot prize. It is here that the payout of the prize gets a little complicated depending on the currency you used to play.
We are going to look at a couple of examples, firstly using the simplest currency to calculate, a British Pound win, and then using a different currency (for the purposes of this article, we have chosen a Canadian Dollar win).
How a British Pound win is paid out on Mega Moolah
If the winner of the Mega Moolah progressive jackpot lands their prize using British Pounds as their currency then this is the simplest of all payouts to calculate.
In this case, given as the base currency of the Mega Moolah slot is British Pounds, the player would win the full amount shown in the progressive jackpot at the time of their spin. They would win every last penny of that jackpot prize.
That would of course leave the jackpot prize pool at £0 balance, but this is where Microgaming will now seed the jackpot with £1,000,000 to ensure that there is still plenty of money to be won on the slot for players playing the game after the win.
However, when it comes to other currency wins, then the process is slightly different.
How a Canadian Dollar win is paid out on Mega Moolah
Things change if a different currency is used on the spin that triggers the Mega Moolah top jackpot payout. In essence, Mega Moolah pays out the player in their chosen currency from the British Pound base fund.
This is the reason why Microgaming have chosen the British Pound as its base currency as its value is higher than the other currencies used on the slot. This means that if a jackpot is triggered in another currency, then the British Pound-based jackpot fund can cover the payment for that, with a little left over to remain in the prize pool for the next jackpot trigger.
For example, if a player won a prize of say $5,000,000 in Canadian Dollars, that equates to around £2.83 million in pound sterling at the current exchange rate.
So, to pay this jackpot winner the full amount of CA$5,000,000, Mega Moolah would use £2.83 million of the prize pool to cover that payment. Of course, out of a prize pool of £5,000,000, that means that there will still be around £2.17 million left in the jackpot fund for the next progressive jackpot prize.
This means of course, that Microgaming would not seed the fund with any extra cash.
This same process is used with any other pay out in any other currency. Exchange rates are used to work out the British Pound value, this is then deducted from the jackpot prize pool and paid to the winning player and the money left in the pool goes forward to be won on the next jackpot prize.
Indeed, it is this very mechanism and rule which allows the Mega Moolah slot to generate some huge jackpot prizes and can often see a number of bigger jackpot prizes won in succession.
One last thing to note is that if the progressive jackpot fund drops below 1,000,000 win a win is awarded, then Microgaming will top up the fund to make it 1,000,000 for the next prize fund.
Simple yet brilliant
This simple yet brilliant way of calculating jackpots not only means Mega Moolah can be played in different currencies all over the world, but it also means that jackpot prizes can grow very large and that they can remain large for a number of wins.
It is no coincidence that many wins of 10 million plus, in any currency, tend to come clustered together and that is simply because when a player wins in a currency that is not UK Pounds, then it tends to leave a large amount remaining in the prize pool, especially if the jackpot has climbed to a high amount.
This is a happy result of the way Microgaming chose to operate the game and it certainly makes Mega Moolah hugely appealing to players as they will know that if a big jackpot is won in one of the lower value currencies, such as New Zealand dollars, then the amount left in the prize pool following the award of the win, will still be a very sizeable amount.
This is precisely why after a big money win, the Mega Moolah jackpot can still remain relatively high and this in turn is what makes it hugely popular with slots players the world over.
Byline: This article was published by Mega Moolah expert Henry. Media and other enquiries.