Microgaming, one of the leading providers of games for online casinos this week has confirmed that a record jackpot has been won off of a mobile device of $8.7M dollars on the progressive jackpot named Mega Moolah. Microgaming is based out of the Isle of Mann, a small island off the coast of the UK. The casino where the jackpot was won is the Tipico Online Casino based out of Malta.
The record haul of $8.7M barely tops a progressive jackpot win of $8.6M which was won last summer. The bet size to win the $8.7M was about $7. While real casinos often require annual payments to receive the full jackpot amount, or a drastically reduced amount for a one-time payment, Microgaming and most other operators of progressive slots stay true to the marketing and pay a full one-time payment of the total jackpot amount. While there are debates whether annual payments are better for winners, either way it is a life altering occurrence.
The progressive jackpot win for the mobile device of $8.7M still does not even come close to the $20M win obtained a few years ago in a computer-based online casino along with many other wins of more than $8.7M. As mobile devices become more popular for users and online casinos, expect to soon see mobile device wins topping even PC jackpot wins.
Progressive Jackpots are a relatively new phenomenon, especially compared to the long history of land-based gambling. Progressive slot machines are connected among large networks which all share a single common jackpot. Every time a player loses on any of the thousands of progressive slots that share a jackpot, the jackpot grows. So at any one moment, you can literally have thousands of players all contributing to an ever growing jackpot, which resets as soon as someone wins, but which then quickly builds again. While this may sound bad to have a jackpot completely reset, the fame that goes to the machine for a big payout means players flock to it even more and so quickly build the jackpot back up. Jackpots have different minimum amounts, usually $10,000, but it is not unusual to see multiple different progressive slot machines located in the same casino having jackpots over $1M.