One of the oldest slots tips is that you need to make the maximum bet to qualify for a jackpot. I emphasize the word “old” here, because this tip doesn’t apply to the modern slots world.
Whether it is due to the ever-exciting enigma surrounding gambling wins or our collective curiosity, biggest slot machine jackpots are the inexhaustible topic on everyone's brain. With that in mind, today, we are discussing what is the most amount of money won on a slot machine and what are the biggest casino wins overall. Image: pixabay Progressive jackpots are not restricted to online slots, though. The largest ever payout on a slot machine came back on March 21, 2003, when a 25-year-old engineer from Los Angeles. I like to play slot machines at the casino. From Top Dollar, to Lightning Link, to Huff N' Puff, to Black Widow, to Dragon Link, and hundreds more, I play ONLY high limit slots, with bets ranging. When you include these increases with the innovative changes to bonus rounds and unique features that are also included in many of the top slots today, it is no wonder that we see even the smaller jackpots reaching significant figures. For players today, the modern slot machines and games are a far cry from their original predecessors.
Max bet slot machines have largely been replaced by different types of slot games today. Therefore, you no longer have to risk several dollars on every spin just to play for a jackpot.
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But what exactly happened to the dated max bet games? I’ll answer this question by first discussing more on slot machines, why they were so popular, and how they were replaced by multi-line games.
What Are Max Bet Slots Jackpots?
Casinos used to be filled with three-reel slot machines that operated on mechanical reels. These games were quite limited in terms of their betting options and paylines.
A typical classic slot machine had the following characteristics:
- Single payline
- One coin denomination (e.g. $1)
- Option to bet between one and three coins
The good news is that these games at least offered a choice on how many coins to bet. But most of them required that all three coins be wagered in order to qualify for the jackpot.
If you were playing a dollar slot, for example, you’d have to wager $3 to have a chance at the top prize. Assuming you only use one or two coins, then your top prize would be worth much less than the jackpot.
Video slot machines entered casinos in the 1970s. These games, which are the standard today, run on computerized software.
Nevertheless, the earlier video slots still operated like the mechanical games by requiring a max bet for jackpots. This trend even continued as video slot machines grew more complex and began featuring betting options.
Why Were These Jackpots so Popular?
As I’ll discuss later, modern slot machines don’t typically force you to bet the max to win a jackpot. These games are much more popular among gamblers than max bet slots.
So, why then did max bet jackpots exist in such a large degree years ago?
One reason is the limitations of the earlier mechanical games. Developers couldn’t simply program a slot to feature more paylines.
The latter is key in today’s slot machines, because more paylines increase the average bet size. For example, a penny slot machine with 100 lines requires a gambler to spend at least $1 per spin.
Mechanical slot machines only have a single payline. Casinos would be losing money based on their overhead costs if players could wager as little as one cent per line.
Therefore, older slot machines have a single coin denomination and require players to use every coin to qualify for a jackpot.
Casinos and developers needed some way to drive up the spin cost and make money from games. They used max bet jackpots as incentive to force gamblers to bet more.
Decades ago, players didn’t really have any other options in terms of games. So, they were essentially forced to take what was given if they wanted to play slot machines.
This trend had been set in stone by the time video slot machines came along. That said, many early video slots also required max bets to win the jackpot.
The Rise of Multi-Payline Slot Machines
Eventually, the gambling industry became bolder with their innovations. Developers started using video-slot technology to create advanced games that offered more paylines.
Casinos have found it much easier to sell players on the idea that they can play 20-50 lines per spin, rather a single line with one to three coins.
Slots have since given players even more options in terms of bonuses and animations. Today’s slot machines bring a touch of video games and movies to the gambling world.
It’s easy to see why multi-line games have largely replaced classic slot machines. They offer more opportunities to win along with exciting animations and features.
Is the Move to Multi-Line Games for the Best?
On the surface, multi-line slot machines are superior than the max bet jackpot games of yesteryear. They’re more entertaining and offer dozens of chances to win.
It seems like a no-brainer that modern slots are better. Gamblers have spoken with their dollars, too.
Max bet jackpots have all but disappeared for a reason. Once players had more options, they realized that being forced to make larger bets on a single payline wasn’t ideal.
However, this isn’t to say that multi-line slots are perfect. In fact, they’re programmed in a way that can cause players to spend more money than they normally would.
Multiple lines allow for very small prizes that can be worth much less than the total spin cost. For example, one might bet $1 and win a $0.05 prize.
Anybody can obviously see that this payout is worth much less than the original spin. However, one might have trouble fully comprehending this when a machine’s lights go off and celebratory sounds ring out.
This effect is what’s known as losses disguised as wins (LDWs). An LDW refers to an occurrence where a player is subconsciously fooled into thinking they’re a winner when they really lost money.
Another problem with multi-line slot machines is that they feature deceptive jackpot odds. Just because a game has 50 to 100 lines doesn’t mean that it provides a better chance to win big.
The main reason why multi-line games offer much bigger jackpots than max bet slot machines is because they’re more popular. Again, though, more lines don’t necessarily equate to superior jackpot odds.
Do Max Bet Jackpots Still Exist?
Max jackpot games haven’t completely vanished from gambling floors. However, they hold a very minimal place in the gaming world.
Even mechanical slot machines can still be found in some gambling establishments. They attract players who want to relive Vegas trips from years ago.
Realistically, though, those who want to play max bet slot machines will have to put some effort into the matter. After all, these games aren’t found in most brick-and-mortar or online slot casinos.
Players may ultimately find that the effort isn’t worth the reward. Most of these games are extremely limited in terms of their options. Moreover, they require larger bets just to qualify for the jackpot.
Conclusion
Max bet slots once ruled the gaming scene. They filled casinos in Las Vegas, Atlantic City, and other popular gambling destinations.
These games also found a prominent place in online casinos during the formation of the internet gaming industry. However, they’ve been surpassed by modern slot machines that feature multiple paylines, bonuses, and animations.
The problem with max bet slot machines is two-fold.
- They require a bigger bet on average to win a jackpot.
- Most of these games are limited in terms of their features.
I’m not saying these games should be avoided at all costs. Some players like a simpler gaming experience and don’t mind having to bet big.
Furthermore, these games don’t fool players with LDWs and deceptive jackpot odds. The majority of them have single lines, leaving no illusion about wins and losses.
But when the typical gambler is given a choice between max bet and modern multi-line games, they’re going to choose the latter almost every time.
The truth is that the slots industry has advanced greatly within the last few decades. Technology now rules the day.
Some casinos still offer max bet slot machines either for nostalgic purposes or because they’re just classic games. But by and large, max bet slots ran their course and will never return to prominence in gambling.
Please enable JavaScript to view the comments powered by Disqus.Online slots jackpots have grown immensely within the past decade. In fact, 11 jackpots have paid over $10 million in the last decade.
These prizes may not compare to the largest Powerball and Mega Millions jackpots. However, they’ve definitely made gamblers filthy rich.
As big as online slots jackpots are today, they’re about to get much bigger. One gaming developer plans to launch a $50 million jackpot within the coming months.
I’ll discuss this upcoming prize below along with how it’ll smash the records set by previous internet slots jackpots. I must add, though, that I’m not sure if this payout will truly materialize.
What Is the Biggest Online Slots Jackpot Ever?
Mega Moolah (Microgaming) and Mega Fortune (NetEnt) have paid most of the largest prizes in online slots history.
Mega Fortune set world records when it delivered €11,735,446 (approx. $13.3m) and €17,860,868 (approx. $19.5m) in 2011 and 2013, respectively.
Mega Moolah has taken the reigns within the past few years, though. It awarded record payouts of $20,057,734 and €18,915,872 (approx. $21 million) in 2019 and 2018, respectively.
The $21 million prize from September 2018 currently holds the Guinness World Record for being the biggest online slots jackpot of all time.
Hacksaw Gaming Announces Upcoming $50 Million Jackpot
Hacksaw Gaming is a developer that just recently came onto the scene. However, they’re already looking to make a big splash with a series of massive jackpots.
They’re going to roll out a line of “insured” jackpots that feature payouts worth between $5 million and $50 million. These prizes will also be listed in equivalent euro and pound amounts.
Every huge online slots jackpot available today is of the progressive variety. They take small amounts from each bet to fund the prize and need time to grow.
“With our new concept, operators can rely on having huge, exciting jackpots on offer without having to wait for the progressive jackpot to build up,” said Marcus Cordes, COO of Hacksaw. “It also enables smaller operators to offer the same huge prizes as the Tier 1s, levelling the playing field.”
Hacksaw’s plan involves launching My Lucky Number with a $25 million jackpot. This game is scheduled to come out somewhere around the middle of 2020.
From here, the developer will launch a flurry of other big jackpot games. $5 million, $10 million, and $50 million prizes are all on the agenda.
A Record Setting Online Slots Jackpot
Earlier, I covered how Mega Moolah currently holds the record for the biggest-ever internet slots prize at $21 million. It could be on its way to offering another such prize when considering that its “Mega Jackpot” is worth $11 million at the time of this post.
However, the $21m record could be a distant memory if Hacksaw’s plan goes off without a hitch. The proposed $50m jackpot would break the current mark by a wide margin at $29 million.
Even the second-largest jackpot in Hacksaw’s proposal would be a record-setter. At $25m, it would top Mega Moolah’s mark by around $4 million.
What Is Hacksaw Gaming?
Hacksaw Gaming definitely isn’t the biggest name in online gambling. One reason for this is that they’ve only been around since September 2018.
They gained a foothold in the industry by producing online scratch cards. Hacksaw has been successful in this endeavor so far.
One year after opening, they produced their first online slot in Stick ‘Em. This game, which revolves around a marshmallow mafia member, brought a totally new theme to the industry.
They’ve produced one other internet slot in Om Nom. A 4×4 slot based on desserts, Om Nom gained praise for its simple, yet unique, style.
Can Hacksaw Really Pull Off a $50m Jackpot?
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Hacksaw has had a very successful start. However, I’m skeptical on their plan to offer the biggest slots jackpots known to man.
At the time of this post, they haven’t even been around for two years. Already, they’ve proposed slots prizes that would easily crush any payout that’s been offered so far.
Neither Om Nom nor Stick ‘Em features a top payout that’s anything notable. Their next upcoming slot, My Lucky Number, will allegedly leap onto the scene with a $25 million jackpot.
I’m not accusing Hacksaw of lying about what they intend to do. They’ve proven to be a reputable developer so far with their online slots and two dozen scratch cards.
Most likely, Hacksaw Gaming has secured large outside investments and/or big loans to help them offer these jackpots. They’re assuredly not announcing $25m and $50m prizes based on air.
Again, though, I want to see these jackpots before automatically believing that slots prizes will reach astronomical heights in less than a year’s time.
Will Hacksaw Encourage Other Slots Providers to Up Their Jackpot Game?
Microgaming and NetEnt have had no trouble offering big slots payouts in the past. Playtech and Yggdrasil Gaming have delivered massive prizes too.
However, none of these providers hold a candle to the upcoming Hacksaw insured jackpots. I wonder if the latter will kick-start an arms race to feature bigger and better top prizes.
Microgaming is best positioned to challenge Hacksaw’s $25m and $50m payouts. They currently seed Mega Moolah at $1 million, but they could increase the seed to $5m or $10m and encourage faster-growing jackpots.
Bovada Casino, which uses proprietary software, also features a large jackpot through Shopping Spree (currently $4.56m). They could conceivably offer bigger payouts when considering their large share of the US market.
GTECH has built a large jackpot through Aladdin’s Lamp €5 that’s worth over $4 million. They might be a dark horse contender for the future slots jackpot record.
Playtech, Yggdrasil, Realtime Gaming (RTG), Blueprint Gaming, and NetEnt are other possibilities that could factor in.
Of course, the idea that developers will suddenly began offering bigger jackpots just because of Hacksaw is pure speculation. But I wouldn’t be surprised to see at least 2-3 of these software providers make an attempt to compete with Hacksaw.
Should You Play for These Record Setting Prizes When They Launch?
Assuming these giant online slots jackpots become available as planned, they figure to cause hysteria among the gaming community. As for whether you should join in this frenzy depends on your personal preferences.
If you’re somebody who dreams of getting rich through slots, then you can best accomplish your dreams through these upcoming games. No slot machine—online or land-based—has ever paid out $50 million.
Only Megabucks, which is available in Nevada casinos, has delivered over $25 million. It currently holds the record for the biggest slots jackpot ever at $39.7 million (2003).
Therefore, Hacksaw Gaming’s slots will offer the largest prizes you can find at any casino. You should target these games above all if you have visions of mansions, Lamborghinis, and private islands.
Downsides to pursuing this prize include volatility and the odds. Regarding the latter, you’re almost assuredly not going to win $50m, $25m, or even $5m.
Of course, the dream is that you’ll defy the odds and win big. However, I wouldn’t count on it in this lifetime.
Any slot that offers even a $1 million jackpot will have serious volatility. Just imagine what kind of volatility you’ll deal with when a $25m or $50m prize is introduced.
Finally, you also need to worry about the taxes and potential payout structure if you do somehow win. Lumpsums for big gambling prizes usually only deliver 60% of the amount, while annuities (annual payouts) reduce the value of the prize when account for inflation.
Conclusion
Hacksaw Gaming is embarking on an insane plan to offer several insured slots payouts worth between $5 million and $50 million. The latter would smash the record for the biggest slots jackpot of all time.
I’m still skeptical on whether these prizes will launch as planned. After all, Hacksaw is proposing to more than double the largest online slots jackpot ever.
Nevertheless, I’ll be watching with vested interest if these games do roll out as planned. Based on Hacksaw’s solid reputation so far, I’m guessing that they will actually offer the $25m and/or $50m payouts at some point.