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Online Casino News - October, 2009

Another Quick Millionaire Made Gambling Online

 

  Seed Newsvine

by Elizabeth Nguyen, News Staff Writer

October 10, 2009

Everyone will agree, even the online casinos themselves, that it's always good news when a player wins a big jackpot. And when I say big jackpot, I mean really big jackpot. In the online gambling world, there are millions up for grabs at any given moment, and the reality of actually becoming a millionaire gambling at an online casino does indeed exist.

Take, for example, the recent 1,031,985 progressive jackpot win by a player in the UK. Struck on the popular Microgaming software network, which quite frankly, has the largest aggregate jackpots of any other online casino software network in business today, the news wasn't that surprising considering just how many millionaires have been spawned over the short 10+ years online gambling has been in existence.

Details of the win show that it was hit on the popular King Cashalot video slot, which can be played from any Microgaming Casino (so long as you are not from the U.S.) See the OCS Microgaming Casinos page for our top picks. Currently, the largest aggregate progressive jackpot is the wildly popular Mega Moolah video slot, no valued at approximately $// 5.25 million.

The player, who is known only as Mr. S. due to privacy laws, made a 2.25 wager to get the reels to relinquish their prized wares. Not a bad return at all. While he most likely spent more than that leading up to the jackpot, Mr. S. surely got his money's worth and should be considered very lucky being in the right place at the right time.

Now, all he has to do is wait patiently for his one-time payment. While the typical procedure at online casinos is to pay out large jackpots in installments, since this was a true progressive jackpot, the player receives all the cash up front. Not even tax money is taken out, although it is highly advised players do so on their own. It's safe to say that after winning a 1 million plus jackpot, hiring an accountant would hardly make a dent.

According to a preliminary press release, the player is on record saying that he wasn't just shocked when he saw the payout, but that he was flabbergasted. He called in the nighttime early morning hours to verify if it was true and when told, yes, Mr. S. he was going to enjoy a celebratory brandy nightcap.


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