Penny slots player lands $1.6 million jackpot

When it comes to online gambling, there are few progressive jackpot games available that will offer you the chance to play for a prize of millions of pounds, dollars or euros, for a very small initial bet.

Indeed, with its minimum qualifying bet of 0.25 per spin, the Mega Moolah slot from Microgaming is about as cheap a progressive jackpot game as you can get online today. Others will charge at least ten times that amount to play, such as Jackpot Giant for example which is a 3.00 minimum bet if you want to win the top prize.

However, in real world casinos, particularly those in Las Vegas, there are still a number of games that can be played extremely cheaply and some of these games can have very large jackpots, some in excess of a million dollars. Unsurprisingly, these 'penny slots' as they have become colloquially known, are among the most popular slot games you will find throughout casinos in the USA.

For one lucky player last week, their session on the Wheel of Fortune Ultra Wheels slot at the Valley View Casino and Hotel in San Diego, California, turned from little more than an enjoyable few minutes whiling away the time, to a life-changing win.

The player is known only as Robert and he was enjoying some spins on the game above when something incredible happened. He triggered the bonus game, spun the wheel and then watched incredulously as the wheel rolled around and saw him land on the top progressive jackpot prize.

Robert pocketed $1,664,509.91 from his spin and after his win at the casino, he even posed next to the machine for a snap of the momentous occasion. However, for the following two days, while the casino confirmed the win was legitimate, Robert revealed it was a stressful period.

"I'm still in shock. I couldn't sleep for two days," he stated after the win.

"I was up tossing and turning and thought they would call me and say the machine malfunctioned."

However, after the win was confirmed, Robert said that, once he has paid his hefty tax bill and any state taxes that he owed, he will invest the rest of his cash and hopes that it can play a key part on him taking early retirement.

The win comes just a few weeks before the Valley View Hotel and Casino unveils its new $50 million revamp and expansion which includes a new gaming space, a pub, a slots tournament arena and an area which will be used primarily to host promotions. A new entrance into the casino is also being planned to allow customers quicker and easier access. The project should be complete in July.

How does this $1.6 million win compare?

Now, at first glance this $1.6 million win doesn't really register when it comes to some of the multi-million jackpots that have regularly been won online over the last few years, which includes an incredible $20m Canadian dollar win at the start of 2019. So, in terms of comparable value, this latest big money slots winner is on the lower end of the massive jackpot winners scale.

But when you factor in how much this last winner was spending per spin compared to other players, then you start to realise the value of his win. For this we are going to make a couple of assumptions which may, or may not be correct, but we have no way to verify at the present moment in time.

Let's take the $1.6 million penny slots winner above and the CA$20m winner of the Mega Jackpot in January 2019. Now let's assume that the winner of the $1.6 million prize pool was spending the equivalent in dollars of a penny, so $0.01 per spin while the Mega Moolah jackpot winner was, let us suggest, spending the minimum bet of $0.25 per spin.

If you look at it like that then the penny slot player earned a prize valued at over 160,000,000x his wager. Whereas in contrast, the Mega Moolah winner earned a prize of 80,000,000x his total bet.

So, it seems that the penny slot option offers a far greater return to bet ratio, but that doesn't necessarily make it a better value option, indeed if you look a the wider picture, it seems that online progressive jackpot slots tend to offer a far greater chance of success than their cut-price brethren.

That's because you rarely, if ever, hear of a player winning the penny slot top progressive prize because it is so infrequently won. It has to be, in order for the jackpot to climb to a sizeable prize based on a spin of such low value. As such, these winners are very few and far between and it can be months and years in between truly big winners on these slots.

In contrast, a game like Mega Moolah has awarded over 50 progressive jackpot prizes since the game's first ever version was released a little over 10 years ago. It also awarded an incredible 10+ million-plus jackpot prizes across the years in a number of different currencies. Furthermore, 2019 has already seen two huge winners, a Canadian dollar jackpot of over $20 million which we mentioned previously and another big US dollar jackpot of $12.9 million, and two further Canadian dollar wins of $3.3 and $8.1 million, the last occurring just a short time ago on May 4, 2019

Then there is the convenience factor. Say you wanted to play that very penny slot that Robert landed his life-changing win on. Not only would you need to travel to a land-based casino, you might also need accommodation, spending money, transportation and of course your wagering cash. That all adds up to a huge amount of money, especially when you consider the aim of your trip is to play a 'cheap' slot game!

In contrast, you can play a game like Mega Moolah online anywhere you have an Internet connection on your mobile device, as well as on your desktop or laptop computer. There's no additional cost to you other than your wager as you would already be paying your mobile bill, or your broadband internet costs anyway. Therefore, it is a no-brainer, when you are considering value for money for your spins, Mega Moolah is the hands down winner.

Not only that, it pays out more often, can pay out in a range of currencies, is available all over the world to play at no additional costs to players and can be won on any spin, at any time, by any player, provided of course they make that 0.25 minimum value bet.

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Byline: This article was published by Mega Moolah expert Henry. Media and other enquiries.

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