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Nearly every state in the US provides its residents (and visitors) an opportunity at a life-changing lottery jackpot. Notably absent from that list of states is one of the biggest gambling venues in the world: Nevada.
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While residents might feel a twinge of jealousy from the frequent news stories of lucky multi-million-dollar-winning lottery players, Nevada doesn’t exactly have a shortage of methods for people to win their own big money jackpots. The most potentially lucrative one of all is Megabucksslot machines.
Responsible for most of Nevada’s biggest money jackpots of all time, Megabucks slot machines are perhaps the closest alternative Nevada has to a true lottery. Megabucks is a simple game with a massive progressive jackpot.
Megabucks: a simple game
It’s likely that most mental images of a slot machine conjure this game to mind. Megabucks slot machines have three reels and one payline going right through the middle of the reels. The game features many of the typical slot machine symbols — 7’s, cherries, and bars — that any slot player has seen numerous times before.
The goal of the game is to match these symbols along the lone payline. That’s it. There’s no intricate series of patterns. There’s no complicated bonus game to trigger. And there’s no underlying theme associated with the game.
It’s just a matter of whether the player matches three like symbols on the payline or not. Match the symbols, and get paid.
The Megabucks progressive jackpot
While true that Megabucks has a simple game design, that doesn’t mean the game lacks appeal. Rather, it might be one of the most appealing slot machine games available due to its substantial progressive jackpot.
With a minimum prize of $10 million, the Megabucks progressive jackpot can be an attractive gamble for anyone. Slot players are sure to become most intrigued when the jackpot climbs to its higher amounts.
Twenty or even $30 million jackpots are not unheard of for Megabucks. Each machine linked to the jackpot has the amount prominently posted just above the machine, large enough to see from the other side of a room. There will never be any confusion over a specific jackpot amount.
Megabucks is a standard $1 slot machine. The caveat is that a player must bet the maximum ($3) on a spin to be eligible to win the progressive jackpot. Once the maximum bet is made and the reels are spun, landing “MEGABUCKS” symbols along the payline on each of the reels is what it takes to win the hefty prize. Similar to picking winning lottery numbers, it really is that simple to win the Megabucks jackpot.
If one does manage to win the jackpot, the similarities to lottery winnings don’t end there. Jackpot winners are given a 25-year annuity for their winnings rather than the entire sum all at once. At $3 per spin, going for the jackpot could also be a costly endeavor. As most lottery players can attest, just because a game is simple to play, doesn’t mean it’s easy to win.
So you’re telling me there’s a chance?
Since 2005, when the jackpot was set at a minimum of $10 million, 22 people have won the prize. That’s about two people per year on average in the state of Nevada who find themselves lucky enough to be referred to as Megabucks progressive jackpot winners.
A number of sources seem to agree that the odds of any eligible spin hitting the jackpot is about 50 million to one. It’s a long shot to be sure, but that doesn’t mean it’s not worth trying at all.
To put that into perspective, if it’s worth the time and energy to worry about the dangers of shark attacks when swimming in the ocean or plane crashes when flying in the air, then it’s statistically worth the effort to give Megabucks a few spins in hopes of becoming the next lucky winner. Somebody is going to win it, after all.
With the odds of hitting the jackpot so low and the relatively few ways for a player to win money, it shouldn’t come as a surprise that Megabucks slot machines sports one of the highest levels of volatility in the slot world. Unlike many modern slot machine games, there aren’t an abundance of ways to win amounts close to the cost of a spin.
Essentially, this game amounts to most likely losing the entirety of the bet on a spin, but with a small percentage of spins leading to sizable wins.
Because of these qualities, Megabucks is not likely to attract slot enthusiasts, as they would be looking for a more valuable experience for their money. Since slot seekers would be more focused on the progressive jackpot opportunity, the higher volatility, and relatively low time investment, Megabucks is a popular choice for them.
No end in sight
Lotteries in the US have been popular for hundreds of years and remain popular to this day. It’s clear that the low risk/high reward game model is attractive to many. So long as people dream of the lavish lifestyle that only millions and millions of dollars can provide, they will always be willing to take their chances.
Serving as Nevada’s de facto lottery, there’s no reason to think Megabucks slot machines will be any different. Anybody with few dollars and a dream knows that an eight-figure payday could be waiting for them the next time they decide to spend a couple minutes playing the slots.
This fact alone will keep seasoned slot players, as well as casual casino-goers, sitting down and trying their luck with Megabucks.
Gone are the days of the old-fashioned one-armed bandits. Coinless slot machines are now the name of the game at casinos everywhere, and collecting a jackpot is as simple as cashing out a voucher. But while the system is convenient, not all players find it satisfying. Some longtime gamblers say part of the thrill of playing the slots was the jingle of the coins as they spilled out into the bin. Plus, it's easy to stick that voucher in the back of your pocket and forget that it's there. If you do so, be sure to go back as soon as possible and cash in. Some vouchers have expiration dates, and some casinos won't let you redeem by mail.
No More Coins
Casinos started to change to coinless slots around the early 2000s, due in large part to the advent of multi-denomination machines. Coinless slots mean decreased labor costs, as casinos no longer have to hire slot managers to clean out machines, make a change, and escort players to counting rooms. Players no longer have to lug buckets of dirty coins across the casino floor and wait in line for a cashier to count them. Instead, they insert their voucher into a redemption kiosk and receive their winnings. Players also don’t have to worry about a machine running out of coins while they are cashing out or wait for attendants to fill the hoppers, which can take a long time to do when a casino is crowded.
The Voucher System at Work
Whether a casino calls their coinless slots EZ-Pay or Ticket In Ticket Out (TITO), they all work the same. Instead of feeding coins into the machine, you feed any denomination of bill into the bill receptor and the machine registers the appropriate amount of credits. You then begin play. If you win, you hit a button and receive a voucher printed with the amount of your winnings. You then redeem this at the cashier's cage or redemption machine.
Drawbacks
When coinless slots were first introduced onto the casino floor, players complained mainly about the difficulty of moving from machine to machine. If they wanted to switch machines they had to take their voucher over to the cashier and convert it back to money to put into the next slot. Fortunately, manufacturers quickly addressed this problem. Today's machines now accept vouchers from other machines as payment. If you are in a hurry when you cash out, you can even just put the voucher in your wallet or purse and use it when you play later.
This, however, can cause a problem if you forget to cash it in before you head for home, especially if you are visiting a casino in another state. Most vouchers have expiration dates—60 or 90 days are most common—which can be a problem if you're playing in a casino while on vacation. While some casinos will allow you to mail in the voucher and receive a check in return, others consider the voucher null and void unless you show up in person.
Because the policy for redeeming slot vouchers varies so much, not just from state to state but also casino to casino within the same state or even city, always check with casino management about their redemption policy.
Before You Go
Before you head to your favorite local casino or Vegas hot spot, make sure to check its policy. Even if you should find yourself with a voucher from a casino with a “no-mail policy,” all may not be lost. We advise that you call and ask for a casino host and explain the problem. These hosts want to do everything possible to retain their good players and they may be able to work out a solution for you.
To avoid forgetting the vouchers, make it a point to redeem them as soon as you finish playing. If you want to save them to play later, then make a habit of redeeming your vouchers at the end of the day, before heading to your room. When you get ready to check out of your hotel, make sure take a look in your wallet for any vouchers you may have forgotten.