Dear Mark,
Recently Megabucks surpassed the current record of more
than $11 million dollars. A few questions please. First,
is there an easy way to find out the current progressive
amount without going to a casino? Second, do you get
paid half up front and the remainder over the next 10
years? Finally, when it approaches record levels, should
I join the excitement and run out and play? Lois H.
Lois, I have never quite understood the frenzy when
the Nevada Megabucks jackpot rises to a level where
some fortunate soul rewrites the slot jackpot record
book. Granted, it is a new milestone for IGT's MegaJackpot
systems, but most players don’t realize that Megabucks
is a tougher beat than most state lotteries. Additionally,
you also have to
buck up three dollars (3-coin bet) versus your one dollar
donation to state education. And what are the
true odds of hitting
a Megabucks bonanza? 16,777,216 to one. For those
in the dark, Megabucks is an IGT (NYSE: IGT) MegaJackpot
slot system that connects 747 machines in 136 Nevada
casinos to a primary jackpot that builds from a
base amount of $5 million. Now I don’t care
which state you live in, but I will wager dollars
to donuts that all state lotteries have had more
winners and given away more money than IGT’s
Megabucks. So what’s the big deal? No hidden
camera investigation here, just PR department without
peer that hypes the hysteria. You also asked, Lois,
about following current jackpot totals. All IGT
Nevada MegaJackpot systems totals are available
by calling tollfree 888-448-2WIN (888-448-2946).
Finally, Lois, Megabuck winners do not receive a
chunk of change up front; instead, International
Game Technology, the Reno-based slot machine maker
that created and operates Megabucks, pays the winner
in 25 annual installments.
