Megabucks Payout Schedule

• Megabucks Payouts Chart
• Megabucks Payout Schedule 2019
• Megabucks Payout Schedule Calculator

On her way to breakfast, she stopped to play the Megabucks slot machine with $170. Total Winnings: $22,618,156.67. But year to date, many value names have continued to underperform. Megabucks Plus tickets can be purchased daily. The cut off time for ticket sales is 7:50 PM ET on the day of the draw. Drawings are held every Wednesday and Saturday at 7:59 PM ET. You can watch the Megabucks Plus drawings every Wednesday and Saturday by visiting the Tri-State Lotto Commission official drawing webcast. Megabucks is a parimutuel game. Except for the 3 of 6 prize, the amount of the prizes is determined by the size of the prize pools and the number of winning tickets. Overall odds of winning a prize, 1:25. Estimated Prize payout is 70%. Players with the winning Megabucks jackpot prize ticket have the option of receiving their prize as a single. The world's first wide area progressive jackpot system, Megabucks has been awarding life-changing jackpots to lucky winners since 1986. Win big with this jackpot - it resets to $10 million! Refer to Payout notifications to learn about payout status codes. Update automatic payout schedule for an account holder. In addition, you can set a new payout schedule for a particular account holder. To do this, make an /updateAccount call and pass a new schedule in the payoutSchedule object. Possible schedule values are.

• Appendices
• Slots Analysis
• Miscellaneous

Introduction

This page investigates the odds of the progressive jackpot slot machine, Megabucks, including the average jackpot and breakeven point.

For now, let's ignore the fact that a jackpot is paid by installments over 25 years and that the jackpot would be subject to income tax.

I don't know exactly how Megabucks is programmed. However, there is some information that is public knowledge. If we fit the pieces together, we can make a pretty good estimate of the point at which the return is 100%, known as the 'breakeven point.' Here is what we do know:

• According to John Robison, the probability of hitting the jackpot is 1 in 49,836,032. This figure comes from an article titled Megabucks closes in on record jackpot from the Las Vegas Sun, Dec. 24, 1999. That probability comes to (1/368)³, implying each reel has a 1 in 368 chance of stopping on the jackpot symbol.
• The Nevada Gaming Control Board indicates that the profit of Megabucks on both a percentage and dollar basis. The following is a summary for 1994 to 2009.

  Megabucks Win — 1994 to 2009

  Year	Win ($)	Win (%)
  2009	53,352,000	10.43%
  2008	83,981,000	11.85%
  2007	88,858,000	12.72%
  2006	100,923,000	12.39%
  2005	100,923,000	12.39%
  2004	67,326,000	10.54%
  2003	83,069,000	10.41%
  2002	76,842,000	11.98%
  2001	69,821,000	11.50%
  2000	69,103,000	9.75%
  1999	74,921,000	12.28%
  1998	134,943,000	12.25%
  1997	66,166,000	12.18%
  1996	57,619,000	10.03%
  1995	65,223,000	10.48%
  1994	46,760,000	9.44%
  total	1,239,830,000	11.39%

  The key piece of information from this table is that the overall profit of the game has been 11.39%. In other words, 88.61% is returned to the players.

• According to defunct source, starting in September 2005, Megabucks was reset to a jackpot of $10 million. Before that, the reset value was $7 million.
• According to a2zlasvegas.com, there have been 11 jackpots hit between September 2005 and the date of the last jackpot (Feb. 21, 2010). That same website shows a jackpot was hit on September 15, 2005. The number of days between then and the time of this writing is 1,619 days. We also see from that website that the total of the last 11 jackpots was $167,367,727. Of that, $110,000,000 was from the reset amounts and $57,367,727 was from the progressive contribution.

We can estimate the number of times Megabucks was played during the 1619 day period by dividing the number of jackpots of 11 by the probability of winning: 11/(1/368)³ = 548,196,352. Assuming each player bet the $3 required to win the jackpot, then a total of $1,644,589,056 was bet.

The portion of money returned to players in form of jackpots is thus $167,367,727/$1,644,589,056 = 10.18%. From the Nevada Gaming reports, we know a total of 88.61% is returned to players. That means that the portion returned to players in non-jackpots is 88.61% - 10.18% = 78.44% (The 0.01% apparent difference is due to rounding).

If there were no small wins, and no progressive contribution, then the return of the game would be $10 million/(3×(1/368)³) = 6.69%. As already shown, the total return from jackpots is 10.18%, leaving 3.49% coming from the jackpot meter. Here is a summary of where each $1 bet on Megabucks goes:

Megabucks Breakdown

Item	Cents
Fixed wins	78.44¢
Meter reset	6.69¢
Progressive contribution	3.49¢
Profit	11.39¢
Total	100.00¢

The average point at which the jackpot will hit is 10 million + [$3 × 0.0349 / (1/368)³] = $15,215,248. In 2006, when the jackpot was almost $16 million, IGT, Megabuck's creator, purchased ads in the local media stating that the jackpot was 'overdue' to hit. I'm quoted in a Las Vegas Sun article about it, titled 'Pennies ready to pop'. This would seem to indicate my $15.2 million figure is not far off.

If j is the jackpot at which the game becomes a fair bet, with a 100% return, then we can solve for j as follows:

1 = 0.7844 + j × (1/368)³/3
j × (1/368)³/3 = 1 - 0.7844
j = 3 × (1 - 0.7844) / (1/368)³
j = $32,238,319.

The probability of any given jackpot growing this big is 1.41%. At the current rate of play, a jackpot should get this big once every 29 years, on average.

At any given time the return can be estimated as 78.44% + 0.6689%×m, where m is the number in millions of the current jackpot. For example, at a jackpot of $15 million, the return would be 78.44% + 0.006689×15 = 88.47%.

Everything in this page should be taken as a ballpark estimate. Various factors could cause it to be off, including players not betting the full $3 and the fact that while 11 jackpots were hit in the study period, the expected number could be higher or lower.

It also bears repeating that the above does not factor in the annuity or taxes. Let's look at what happens if we do consider those factors. For the time value of money, let's use the return on long-term Treasury Bills. Megabucks jackpots are paid in a 25-year annuity. At the time of this writing a 20-year T-Bill paid 4.58% interest, and a 30-year one paid 4.74%. Let's split the difference at 4.66%. Using some actuarial math I won't get into, the value of the annuity is worth 61.07% of face value, based on that interest rate, and 25 annual installments, at the beginning of each year.

For taxes, let's assume close to the expected jackpot of $15 million. Under 2010 income tax rates, assuming the winner is filing jointly, and all other income exactly equals deductions, the taxes due will be 30.05% for 2010. Assuming no change in the tax law, that will drop over time, because the tax brackets will be adjusted upward, but the winning payments won't be. I tend to think the recent passage of health care will increase tax rates, especially on large incomes. Let's just assume those factors cancel each other out, to keep it simple.

Megabucks Payouts Chart

So to keep things in round numbers, the winner will keep 61% after the annuity, and 70% of that after taxes. So the jackpot winner will see about 61% × 70% = 42.7% of his winnings in current dollars. Factoring the annuity and taxes, the breakeven point becomes $75.5 million. The probability of any given jackpot growing that big is about 1 in 283,000, and will happen once every 114,000 years. Again, I'm making lots of assumptions, so these estimates should be considered very rough.

After publishing this article, a reader quoted a page at slot-machine-resource.com, which states that after the first installment is made, the player is given the option to get 60% of the rest immediately, or stick with the installment plan. Tax implications aside, which favor the annuity, the interest rate at which the two options are equal is 4.581%.

External Links

• Megabucks Closes in on Record Jackpot from the Las Vegas Sun, Dec. 24, 1999.
• Nevada Gaming Control Board
• Slots Payout percentage, from Cassaon Casino.
• History of Megabucks Jackpots, from a2zlasvegas.com.
• Pennies Ready to Pop, from the Aug. 9, 2006 Las Vegas Sun.
• Megabucks, from slot-machine-resource.com.

Written by: Michael Shackleford

Megabucks Payout Schedule 2019

1. 2019

Megabucks Payout Schedule Calculator

How to view past Massachusetts Megabucks numbers:

1. Click the year you want to check results for, if not the current year


2. You will see the dates and winning Megabucks numbers for that year's draws


3. Click the 'Result Date' link for a draw to view more information, including the number of winners and payout amounts.

Result Date	Numbers
Saturday December 28, 2019	12 15 21 29 36 40
Wednesday December 25, 2019	7 8 31 36 38 42
Saturday December 21, 2019	2 3 21 24 36 38
Wednesday December 18, 2019	5 9 12 34 46 47
Saturday December 14, 2019	10 32 35 43 44 49
Wednesday December 11, 2019	4 19 28 34 35 42
Saturday December 7, 2019	9 12 15 16 34 36
Wednesday December 4, 2019	5 11 12 29 34 45
Saturday November 30, 2019	3 16 23 28 35 37
Wednesday November 27, 2019	1 5 24 27 35 43
Saturday November 23, 2019	1 13 21 28 29 43
Wednesday November 20, 2019	14 19 24 29 37 44
Saturday November 16, 2019	18 19 26 31 40 46
Wednesday November 13, 2019	6 8 23 34 46 47
Saturday November 9, 2019	11 17 33 37 44 47
Wednesday November 6, 2019	12 15 19 28 31 32
Saturday November 2, 2019	2 3 33 34 43 47
Wednesday October 30, 2019	1 6 10 30 40 48
Saturday October 26, 2019	8 14 21 27 33 48
Wednesday October 23, 2019	12 16 25 30 32 37
Saturday October 19, 2019	4 18 19 22 24 47
Wednesday October 16, 2019	5 13 20 21 33 40
Saturday October 12, 2019	2 4 5 10 34 42
Wednesday October 9, 2019	4 5 13 21 28 35
Saturday October 5, 2019	2 5 17 31 35 47
Wednesday October 2, 2019	8 21 27 33 34 47
Saturday September 28, 2019	6 27 39 41 42 43
Wednesday September 25, 2019	9 10 12 13 34 43
Saturday September 21, 2019	5 22 30 32 34 43
Wednesday September 18, 2019	3 5 22 29 42 47
Saturday September 14, 2019	14 25 35 41 44 49
Wednesday September 11, 2019	2 9 12 36 47 48
Saturday September 7, 2019	3 4 5 9 16 43
Wednesday September 4, 2019	1 3 15 17 28 47
Saturday August 31, 2019	3 24 29 36 37 45
Wednesday August 28, 2019	1 6 18 38 39 48
Saturday August 24, 2019	3 23 27 33 38 43
Wednesday August 21, 2019	11 18 23 27 37 43
Saturday August 17, 2019	2 5 10 20 26 49
Wednesday August 14, 2019	3 10 28 32 35 49
Saturday August 10, 2019	2 4 18 20 34 36
Wednesday August 7, 2019	1 4 19 32 45 46
Saturday August 3, 2019	12 17 20 25 40 49
Wednesday July 31, 2019	6 8 9 22 23 48
Saturday July 27, 2019	2 26 27 29 35 47
Wednesday July 24, 2019	12 13 24 27 31 41
Saturday July 20, 2019	11 31 32 42 47 48
Wednesday July 17, 2019	11 16 29 32 41 42
Saturday July 13, 2019	5 21 30 37 39 43
Wednesday July 10, 2019	8 9 10 13 22 29
Saturday July 6, 2019	12 18 25 29 32 35
Wednesday July 3, 2019	1 4 11 24 27 29
Saturday June 29, 2019	7 22 31 35 37 49
Wednesday June 26, 2019	14 16 18 32 44 48
Saturday June 22, 2019	18 24 28 39 42 49
Wednesday June 19, 2019	17 23 30 35 38 41
Saturday June 15, 2019	5 14 15 23 45 46
Wednesday June 12, 2019	6 7 10 13 40 45
Saturday June 8, 2019	4 21 23 44 45 49
Wednesday June 5, 2019	1 13 26 32 34 45
Saturday June 1, 2019	1 4 5 37 38 44
Wednesday May 29, 2019	3 26 30 32 40 45
Saturday May 25, 2019	7 30 32 35 41 43
Wednesday May 22, 2019	7 8 19 22 24 29
Saturday May 18, 2019	5 13 17 37 44 46
Wednesday May 15, 2019	2 28 31 34 35 36
Saturday May 11, 2019	3 6 19 26 31 33
Wednesday May 8, 2019	11 17 19 23 26 27
Saturday May 4, 2019	2 27 36 38 39 40
Wednesday May 1, 2019	6 26 28 29 38 40
Saturday April 27, 2019	12 18 22 27 29 43
Wednesday April 24, 2019	6 12 26 28 29 35
Saturday April 20, 2019	2 12 29 34 41 42
Wednesday April 17, 2019	1 3 6 10 13 48
Saturday April 13, 2019	6 13 36 39 42 44
Wednesday April 10, 2019	2 8 16 18 39 44
Saturday April 6, 2019	8 12 22 23 30 35
Wednesday April 3, 2019	5 6 7 23 26 49
Saturday March 30, 2019	13 19 24 27 36 39
Wednesday March 27, 2019	1 8 17 33 34 44
Saturday March 23, 2019	6 16 23 27 41 46
Wednesday March 20, 2019	6 13 26 29 39 44
Saturday March 16, 2019	9 15 24 35 39 44
Wednesday March 13, 2019	1 3 9 14 25 48
Saturday March 9, 2019	11 15 27 30 34 42
Wednesday March 6, 2019	8 9 25 34 40 49
Saturday March 2, 2019	5 7 11 14 34 35
Wednesday February 27, 2019	7 10 24 25 34 48
Saturday February 23, 2019	12 26 38 39 46 48
Wednesday February 20, 2019	13 19 30 39 42 48
Saturday February 16, 2019	3 9 23 25 38 46
Wednesday February 13, 2019	11 30 31 32 33 35
Saturday February 9, 2019	1 28 34 39 44 49
Wednesday February 6, 2019	7 11 22 23 28 39
Saturday February 2, 2019	6 17 18 24 31 35
Wednesday January 30, 2019	12 21 37 38 44 49
Saturday January 26, 2019	3 4 15 23 39 45
Wednesday January 23, 2019	6 10 16 20 44 49
Saturday January 19, 2019	2 15 19 31 39 44
Wednesday January 16, 2019	12 16 18 31 34 47
Saturday January 12, 2019	15 20 26 27 41 49
Wednesday January 9, 2019	2 8 19 22 42 48
Saturday January 5, 2019	6 9 11 25 35 36
Wednesday January 2, 2019	1 3 14 24 33 44