This story was published more than 4 years ago.
Punters that played Microgaming online casino games in 2018 won a huge €154,954,249 on progressive jackpots, with nine players taking home wins with seven figures or more.
The biggest of these wins was from the Mega Moolah Progressive in September, when a punter set the Guinness World Record for largest online jackpot with a €18,915,872.81 strike. This win was picked up by our jackpot tracker and was first reported here. The first big win of the year took place on January 14th when a punter won €2.4 million on the Mega Moolah at Zodiac Casino, with a punter hitting it a month later at Royal Vegas for €4.3 million.
The Major Millions Jackpot remained popular, with multiple million Euro wins over the year, with punters at Betsafe and RedKings taking home huge prizes.
"Congratulations to all the lucky winners in 2018", said Microgaming CEO John Coleman. "We are proud to host the industry's largest progressive jackpot network, which paid out more than €150 million last year, setting a number of payout records in the process. It is remarkable to see total payouts nearing €1 billion, which really highlights the strength of the network, and we are excited to be working on a series of developments aimed at taking our progressive jackpot offering to the next level."
As we move into 2019, the Mega Moolah Mega is gearing up to offer another huge jackpot win to a lucky player, potentially eclipsing the previous record mentioned above. As of press time, the jackpot sits at $17.7 million in value, and will no doubt change a lucky gambler's life forever. You can count on the Casino Listings News team to break the story as the prize is won, as our tracker will let us know the second it is won.
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Comments
Wow, it is an incredible amount. I wish that I would get a big one too 🙂
And also, I am really curious how much the Microgaming earned from those Progressive Jackpot games 😀
Eljuno
Yeah, that's a good question. I know their other slots definitely pay out a good percentage, but I'd like to know the math on how far ahead they come out on the progressives.
Eljuno
Their progressive games are ordinary when it comes to payout rates. Mega Moolah is at 88% and most of the others are around 90%. Of course that changes with the jackpot amount as they go higher.
Some back of the envelope numbers to consider:
We know that Mega Moolah's base RTP is about 88% and the progressive contribution is another 8.8%.
So if the jackpot is around £18m like it is now (ignoring the lower tier jackpots and seed amount to make it simple), that represents 8.8% of the amount wagered since it was last reset about 16 weeks ago which means the total wagered during that period is:
18 / 8.8 * 100 = £204.5mWe know 12% of that is the house edge or profit (100 - 88%), which works out to be:
204.5 * 0.12 = £24.5mTake away the jackpot contribution amount from that and you have what the house would have banked from the game during that time. i.e.
24.5 - 18 = £6.5mSo we can guesstimate that combined the Mega Moolah games have profited by around £6.5m in the 16 weeks since the jackpot was last reset. That would be shared between Microgaming and the casinos licensing their games.
That actually surprises me as I thought it would be a lot more. But I guess if the total house edge is 12% and you're contributing 8.8% of that the the jackpot, then the real profit margin for Microgaming and the casinos is only 3.2%. Of course Microgaming has a lot of other games...
3 sharpe, coolsongss, Eljuno
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Oh, Ok, I see. It is very simple to understand how you calculated the estimate.
I also thought that it would be a lot more from the progressive Jackpot games.
It happens to be 16 weeks after the previous hit.
So if the betting from players are steady for 48 weeks (one year), it is just 3x the number above...roughly...? 🙂
Thanks for the explanation.
Eljuno
Yes that is right. At £6.5m per 16 weeks, it works out to be a little over £21m in a year.
Eljuno
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I wonder how much of that goes to Microgaming as a developer and what's the casinos share?
I guess the developer gets a %-ge of the revenues of every casino..but is that a stable %-ge or it's negotiable in every separate deal? and beside in some cases they should be a third parties like games providers which probably also get share of the pie?
Exactly, that was the first I thought of when you said their Mega Moolah profits doesn't look to be so large as you have thought they are.
Yeah, it'd be interesting to know what the house's share is versus the developer's. I also wonder if all operators get the same deal or if more prominent brands can cut out better agreements.
sharpe
I assume we should suspect not all getting an equal share (and maybe logically) but maybe a particular Australian guy could tell us more of this.