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The motto for most gamblers who come to Las Vegas on a lark is rather simple – go big or go home.

If you’re going to wager real American dollars on games of chance and skill, there’s no reason to take the conservative route. Bankroll management notwithstanding, the goal for any gambler in Sin City is to hit it big, win the jackpot, and walk away with more money than you know what to do with.

Of course, the vast majority of us who take these shots don’t mint themselves instant millionaires. Instead, the house’s inexorable edge and every gambling game’s inherent odds against the player combine to pour our money straight into the casino’s coffers.

For this reason, what happened at the Excalibur casino on March 21^st of 2003 when a random tourist from Los Angeles decided to hit the slots has become the stuff of Las Vegas legend.

On that day, an anonymous 25-year old gambler arrived in town to visit his family. With the annual “March Madness” college basketball tournament in full swing, the player figured they might as well get some action down on Duke, Arizona, and the rest of the sport’s heavyweights.

The young man’s uncle heard about the trip to Excalibur Hotel & Casino and offered his nephew a little sage advice from a Las Vegas local – play the Megabucks slot machine and see what happens.

And with a $10 million starting seed* – not to mention millions of tourists plunking down the requisite $3 per spin to give themselves a chance – the Megabucks jackpot had swelled to an astounding $39.7 million.

*Megabucks initially offered a $1 million starting seed, before increasing to $7 million in 1997, and $10 million in 2005

Thus, the visitor from L.A. found a Megabucks machine and took a seat with $100 in hand.

What happened next made history…

How Does the Megabucks Slot Machine Work?

First things first though… in case you’re unfamiliar with the Megabucks slot, here’s a quick crash course on the greatest progressive jackpot game of them all.

Casino game manufacturer International Game Technology (IGT) introduced its Megabucks slot way back in 1986. At the time, slot machine jackpots were static in nature, meaning each individual machine offered its own kitty based on how many coins had been previously deposited in between major payouts.

IGT had a revolutionary idea, however, so the company linked its various Megabucks machines all over the Silver State together. In other words, whenever a player in Reno, Mesquite, or anywhere in Nevada for that matter played one Megabucks machine, their coins contributed to the same jackpot total.

This wide area progressive jackpot concept proved to be an immediate hit with players, who loved to watch the meter continuously climb into the seven-figures.

And those meters did climb on a daily basis too, thanks to the Megabucks game’s enormous odds against on the topline jackpot.

Megabucks is a deceptively simple game, one which eschews the multiple paylines and expanded reels that make up the bulk of a casino’s slot inventory nowadays. For a maximum bet of $3, players send three reels spinning, each featuring traditional symbols like 7s, cherries, and BARs. To form winning combinations, players hope to hit three matching symbols along a single payline.

The game’s jackpot symbol is a golden “Megabucks Eagle” which depicts the slot’s distinctive logo. The only thing is, landing even one of these crucial symbols along the payline requires the player to beat odds of 1 in 368. Knowing this, the odds against spiking all three at once come to an astronomical 1 in 49,836,032 – or (1/368)³.

For this reason, the Megabucks progressive jackpot often goes unclaimed for extended stretches, many of which lasting more than a year. With so much time in between big winners, and so many players statewide tossing $3 per spin into the kitty, Megabucks jackpots soon became notorious for reaching epic proportions.

Before that fateful day in 2003, Megabucks players enjoyed an incredible run which saw the jackpot rise to a then record $27.5 million in 1998. That life-changing sum was won by a lucky slot spinner at Palace Station in November of 1998, but the record was eventually broken with a $34.9 million payout awarded to a cocktail waitress playing at the Desert Inn in January of 2000.

A little more than three years later, a new record was waiting to be set at the Excalibur.

$100 Flier Turns Into Life-Changing Record Jackpot Win

Starting out with only $100, the player from L.A. had just 33 spins to work with given the $3* price of play.

*Megabucks can be played for $1 or $2 spins, but the progressive jackpot is only awarded to players who opt for the max-bet of $3

Even so, as a press release issued by IGT later revealed, the player with a birthdate featuring three 7s seemed to have Lady Luck on his arm from the very start. Within the span of those 33 spins, the man watched as not one, not two, but three of the “Megabucks Eagle” symbols slowly spun and came to a rest alongside one another.

Just like that, the player had beaten odds of nearly 1 in 50 million to put nearly $40 million in his pocket.

Well, not all at once anyway. The winner elected to take $1.5 million installments over the course of 26 years – which means he’s still receiving seven-figure payouts annually to this day. In fact, the winner has another 10 years and $15 million remaining on his record-setting payment plan.

Although he chose to remain anonymous, the winner provided the following statement to IGT:

“I’m still stunned; it doesn’t seem real yet. But both of my parents are still working, so some of this money will be used to fund their retirement.”

Largest Megabucks Jackpot Ever – And By a Long Shot

John Sears – who served as vice president of IGT’s MegaJackpots program at the time – confirmed that the $39,713,982.25 payout smashed the previous record for largest slot machine jackpot ever awarded:

“This MegaJackpot is nearly $5 million more than the previous world record slot jackpot amount of $34.9 million – this one goes into The Guinness Book of Records.”

Check out the table below – featuring 10 real megabucks jackpot wins – to get a better sense of just how ridiculous the record-setting jackpot really is:

Megabucks Jackpot History (Wins of $10 Million or More)

Competing Jackpot Hunters Lament Loss of Record-Setting Total

Within the slot machine gaming enthusiast community, learning that Megabucks’ massive jackpot had been won proved to be bittersweet indeed.

In an interview with the Las Vegas Sun conducted shortly after the news broke, Kim Wong from Kailua, Hawaii told the newspaper how she felt watching the meter reset back to $10 million:

“I was here at lunchtime around 12:30 and it was still around $39.7 million. Then I came back around quarter after one and it was resetting. It was such a drag. It was a little more enticing with the $39 million up there, but I’m still playing.”

Judy Selasky from Lavonia, Michigan provided a similar story, telling the paper that even though a record payout was off the table, she and her husband would still play in hopes of a “lightning strikes twice” type of moment:

Radica Mega Million Progressive Slot Machines

“I said, ‘Hurry up and get up to the room, so I can get downstairs. I figure if he won, there might be some magic here. I’m not a hog.”

Conclusion

In a city like Las Vegas which was founded on excess, setting the world record for slot machine jackpot winnings really is something special. And while we don’t know much about the software engineer from L.A. who did the deed, learning that a 25-year old tourist took the honors should give hope to every gambler who makes the sojourn to Sin City.

More than 16 years have passed since the record-setting spin, and nobody has even come close to claiming such an incredible Megabucks jackpot over that span – which shows just how astonishing that memorable moment in March of 2003 really was.

There is one type of slots everybody wants to play and it is very popular among casino fans- progressive slots. Not only they are easy to play, but they also offer pretty sweet jackpots. If you are lucky enough and hit a jackpot winning combination of symbols, you might change your life forever like it has done for some lucky winners in the past. One of the largest jackpot wins recorded to date, was when a 40-year old from Finland won a staggering €17,861,800 (around $24 million) playing Mega Fortune progressive slots online.

However, players should know that it is pretty difficult to hit the life-changing amounts. Still it is not impossible. Playing and winning at real money progressive slots doesn’t require any skills or betting strategies so don’t be fooled if anyone wants to sell you slots winning systems. Another thing what players should know is that these games are very fast to play, so players can lose money fast if they don’t control their game play.

That is why our experts on slots pinned down a couple of tips you need to know about progressive slots and what to do to win the progressive payouts. They also listed the top online casinos where you can play high quality progressive slots with big jackpots and have the best online casino gaming experience.

QUICKProgressive SlotsTIPS

• Always bet the maximum at progressive slots to be eligible for the jackpot and to increase the winning potential
• Play progressive slots with better odds like stand alone and in-house progressives
• Never chase progressive jackpots at slots- you can never tell when they will hit

HOW TO WIN AT REAL MONEY PROGRESSIVE SLOT MACHINES

If someone tells you that a progressive slot has entered its “hot cycle” and it is due to be hit any time, you should not get the entire money you have and immediately go playing it. Progressive slots work the same as all other slots. They use random number generator that creates sequences of numbers that predict the outcome of spinning reels and it cannot be affected.

So instead of believing everything you hear about progressive slots and practicing slots strategies play smart and understand that all slots are games of chance and if luck is on your side, you may walk away with some nice cash. You should also have the following tips in mind:

• Read the pay table of a progressive slot before playing
• Play progressive jackpot slots suitable for your budget and stick to it
• Always play for entertainment
• Don’t believe the myths and misconceptions about progressive slots

OTHER TYPES OF SLOT MACHINES

Slot machine games have become the most popular in many an online casino and these basically come in all shapes and sizes. From old style three-reel slots to video slots to progressive jackpots, you name it, they've got it. And just to make life easier for different types of slot players we have categorized the most popular slot games into these important sections.

Classic slot machines most resemble those offered in brick and mortar casinos, which is why they are often referred to as Vegas-style slots. These games usually feature three reels and a single payline, offering a simple yet entertaining experience and giving players a chance to land massive payouts on small wagers.

Fruit machines are in many ways similar to classic slot machines, with the main difference being that these usually house a standard set of game symbols that include oranges, lemons, watermelons, lucky sevens and Liberty Bell, among other icons. And while a player wagers between one and three coins, they can win pretty impressive payouts.

Top online casinos nowadays offer an excellent selection of video slots from different software developers and these games have become extremely popular among casino gamers. That is hardly surprising considering that latest video slots are packed with bonus games, free spins rounds and numerous other perks and benefits designed to seriously improve player's line wins.

3D slots are a step up from video slot games, with its main feature being the cinematic graphics and stunning animations that greatly enhance the overall experience. 3D slots are also characterized by Wild and Scatter symbols and a plethora of special features, but it is the excellent game play that will keep you coming back for more.

High Limit Slots have been designed to cater for high rollers rather than casual gamers since they support very high bet values, ranging from a couple of hundred to several thousand dollars per single spin of the reels. As a result these kinds of video slots offer a very good potential for hefty wins even without counting the progressive jackpots.

Developed by Rival Gaming, i-Slots or interactive video slots give players more control over the storyline and payouts and as such offer even more entertainment than conventional slot machines. The story unfolds depending on the player's actions and keeps getting more and more exciting with every new spin of the reels.

As the name would suggest, penny slots refer to those slot machines that allow $0.01 as the minimum coin denomination and these are becoming very popular among online casino gamers. Giving players a chance to win nice payouts without risking too much money, penny slots are just perfect for casual gamers and those with a small bankrolls.

Most major software companies have already developed premium mobile platforms where their top video slots have been customized for an excellent gaming experience on the move. As a result, some of these games look even better when they are enjoyed on the latest smartphone and tablet devices, with those stunning special features lighting up your mobile screens.

ONLINE Progressive Slots FAQ

The money you can win by playing progressive slots range between couples of thousands to a few million dollars. To give you an example, a lucky man from Finland bet 25 cents on Mega Fortune progressive slot from Net Entertainment software and won €17,861,800 (about $24 million).

Only the slots that fall into the category of progressives offer progressive jackpot prizes. Others, like classic, video and 3D slots can offer a jackpot prize but it may not be a progressive. Players can usually see the pool of the progressive jackpot slots increasing in front of their eyes.

The progressive slots that have jackpots that stand alone or that are connected with other jackpot pools within a casino or operator usually have better odds than the wide-area progressive slots that offer the biggest life-changing payouts.

It is always good to bet the maximum coins at progressive slots. To be eligible for the jackpot some progressive slots require betting the maximum amount, while others don’t. However, to have more chances of winning, betting the maximum is always advised.

This depends on the online casino. Some casinos pay out progressive jackpots in a couple of smaller withdrawal amounts over certain period, while others make exceptions to his rule. You can read more about this at the Terms and Conditions pages of casinos.

POPULAR ONLINE PROGRESSIVE SLOT GAMES

Read our reviews of the latest progressive slot games from top software developers to learn more about game play, payouts in the main game, special features and more to select the ones that best suit your playing style. Some of these progressive games are also available in Free-Play mode.

Progressive Slots GAME REVIEWS

ONLINE CASINO SLOTS RESOURCES

It always helps to know the important jargon of slots.

Learn the history and origin of slot machines.

'Top 7 Must Know Tips' for playing slot machines.

Features reviews of the latest casino game releases.

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