What is a ‘Megajackpot’?
In gambling, a ‘jackpot‘ is a very large prize and a ‘megajackpot’ is one even larger than that; some casinos and online gaming websites will even offer record-breaking sums of money. These are often progressive jackpots that roll over for a long time and any particularly large jackpot can be referred to as a megajackpot; they often run into the millions of pounds or dollars.
Some casino games, such as slots games and lottery draws, can build up huge prizes for players to win. These are often progressive jackpots, where a little from each wager or spin is added to an overall prize pot, awarded at random to one lucky player. When these huge prizes get particularly large, the term ‘megajackpot’ is often used. There is no specific value that can be called a ‘megajackpot’, but the term is often attached to six figure sums and higher.
Some casino games offer life-changing sums of money as prizes. One Vegas casino recorded a win of $39.7 million by a particularly lucky man, while the largest prize picked up in the UK was over £5 million. Megajackpots are a common feature of international lottery draws, because so many people take part the prize can be huge. Bingo games held online often use megajackpot and online casinos will promote a megajackpot game, perhaps once a month, as a reward for regular players.
Megajackpots could feature in many other kinds of game, especially those with a jackpot side bet. There are forms of blackjack which keep a running jackpot, to be awarded based on pulling four of a kind or some similar unlikely hand. In poker tournaments and high stakes games, the overall prize is often referred to as a megajackpot, because it is often a very high value.