Mega Moolah myths proposed as facts
When I'm conducting research for articles on Mega Moolah, or I want to look up a fact about it to check its authenticity, I have been constantly surprised by the number of official-looking articles, some posted on some reputable sites, that come up with some absolute whoppers when it comes to discussing the 'facts' about Mega Moolah.
While I don't think the writers of these articles are purposely trying to mislead people, I do think that they have tried to apply some semblance of logic in their argument, but unfortunately the logic they used is so flawed that what you get is a wholly inaccurate portrayal of key aspects of the game, often to do with the jackpot payout, the RTP and your chances of winning the Mega Moolah jackpot.
So in an attempt to redress this balance a little we have decided to redress some of the reported 'facts' about Mega Moolah and bring you the truth about the game to ensure that you get the correct idea of what the game is, how Mega Moolah works, how the RTP works and what your odds are of winning the big money prizes available on the slot.
- The Mega Moolah RTP is very low
One of the biggest criticisms of the Mega Moolah slot is that its standard RTP (before you take into account the progressive jackpot payouts) is 88.1%. This is almost true (it is 88.12%). Many slots commentators then complain that this is 'too low' and doesn't compare favourably with other slots which offer a RTP of around 93-96%.
Unfortunately, this is a very unfair criticism. Firstly, to isolate just the base game wins and report that as Mega Moolah's RTP is slightly unfair. The vast majority of people don't play Mega Moolah to win in the base game, they want to chase the jackpot prizes. Add in the jackpot prizes to the RTP for Mega Moolah and you hit a RTP of around 95%, which is on a par with most slot games.
It is also unfair because of the size difference in terms of the payouts. I don't know of any slot that offers a RTP say 96% and then also offers jackpot prizes that can be worth as much as 20 million in your chosen currency. Sure, there may be some games that offer jackpots of, say, a few million coins, but often in these games, the highest coin value you can wager is 0.10, which means a million coins equates to around £100,000 and I am willing to bet these jackpots are won less frequently than the Mega Moolah prize.
Also many commentators will tell you that a RTP rating of 88.12 only equates to an average return of say $88.10 across $100 worth of spins.
In theory, that is correct but when you actually play the Mega Moolah slot, you will get such a massive variance away from this 'average' pay out that it will hardly ever work out that way, especially when you are considering a sample size of just a few hundred spins.
That stated RTP amount is based from billions of spins from the slot, not just a couple of hundred which will see a massive difference in the lowest and highest amounts you win from the game. This simple fact renders all these statements that you'll make "an hourly loss of around $17.85" just pure speculation. On some sessions, you will lose even more, but on others you can make a profit on your session, on some sessions that profit can be huge or even life-changing.
While these statistics sound good in an article, they have no basis on the reality you see when people play the game and as such, they give players an inaccurate impression of how the Mega Moolah slot actually plays.
- What are my chances of winning the jackpot?
One of my favourite calculations I have seen online came from a writer who worked out the following:
- The Mega Moolah top jackpot payout is $5.4 million (Note - it isn't. There is no 'top' jackpot payout, the jackpot can grow to any size. The largest payout in numeric terms is a win of over 20 million in Canadian Dollars in January 2019).
- The jackpot contribution per spin is 2% of your wager (it may not be, Microgaming have not publicised how much of your wager per spin goes to the jackpot fund).
- Using the above this means that around 270 million must be wagered to hit the jackpot. (This is completely untrue. The Mega Moolah Jackpot can be won at any time on any spin. There is absolutely no limit set on what the machine needs to bring in before the jackpot can be awarded. It is as likely to be won in consecutive spins as it is to be won on spins 1 week, month, year or even decade apart)
- This means that players must make 1.08 billion wagers of 0.25 in order to trigger the jackpot. (As I have already stated, this is not how the Mega Moolah jackpot works).
The problem with calculations such as this is not only are they wildly wrong, they are based wholly on inaccurate facts and supposition, but they also give totally the wrong impression about the Mega Moolah slot.
The facts about Mega Moolah are that Microgaming keeps the odds of winning the progressive jackpot prize secret. It is also not widely known how much of your wager contributes towards the progressive prize funds. You cannot simply invent figures to 'prove' something about Mega Moolah when those figures used are very likely to be completely inaccurate and false.
Everyone who plays Mega Moolah knows their chances of winning the jackpot are slim, the same way they are slim when you play any game where there is a massive prize available to be won. People accept that risk because for a small wager, they have that chance of success. There's nothing wrong with that at all. It is how all big money slots and lottery games work.
- Many countries can't play Mega Moolah
One comment I read was that "Microgaming still operates in a fair number of countries. But you can also see they restrict numerous places from enjoying their slots."
Yes, but reading that comment it makes it sound like Microgaming have unilaterally decided to deprive certain parts of the world from accessing its slot games, including of course Mega Moolah.
Of course, this is complete nonsense. The reason Microgaming do not offer their products in some countries is because they are not legally allowed to by the legislation in place in those countries. Certain parts of the world still have a total or partial ban on gambling or forms of gambling and of course, Microgaming does not want to break any laws in those places, so does not offer its games to those people.
You can easily check where Mega Moolah is available on our Country page.
The important thing to note here is that it is not Microgaming depriving certain countries from playing the game, it is the legislation in the countries itself that prohibits them from doing so.
So do keep an eye on your articles for Mega Moolah as there are many that state 'truths' about the slot that are anything but and if there's something you want to check for real, check out the articles in our News page for the real facts.
Byline: This article was published by Mega Moolah expert Henry. Media and other enquiries.