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Online slots jackpots have grown immensely within the past decade. In fact, 11 jackpots have paid over $10 million in the last decade.

These prizes may not compare to the largest Powerball and Mega Millions jackpots. However, they’ve definitely made gamblers filthy rich.

As big as online slots jackpots are today, they’re about to get much bigger. One gaming developer plans to launch a $50 million jackpot within the coming months.

I’ll discuss this upcoming prize below along with how it’ll smash the records set by previous internet slots jackpots. I must add, though, that I’m not sure if this payout will truly materialize.

What Is the Biggest Online Slots Jackpot Ever?

Mega Moolah (Microgaming) and Mega Fortune (NetEnt) have paid most of the largest prizes in online slots history.

Mega Fortune set world records when it delivered €11,735,446 (approx. $13.3m) and €17,860,868 (approx. $19.5m) in 2011 and 2013, respectively.

Mega Moolah has taken the reigns within the past few years, though. It awarded record payouts of $20,057,734 and €18,915,872 (approx. $21 million) in 2019 and 2018, respectively.

The $21 million prize from September 2018 currently holds the Guinness World Record for being the biggest online slots jackpot of all time.

Hacksaw Gaming Announces Upcoming $50 Million Jackpot

Hacksaw Gaming is a developer that just recently came onto the scene. However, they’re already looking to make a big splash with a series of massive jackpots.

They’re going to roll out a line of “insured” jackpots that feature payouts worth between $5 million and $50 million. These prizes will also be listed in equivalent euro and pound amounts.

Every huge online slots jackpot available today is of the progressive variety. They take small amounts from each bet to fund the prize and need time to grow.

“With our new concept, operators can rely on having huge, exciting jackpots on offer without having to wait for the progressive jackpot to build up,” said Marcus Cordes, COO of Hacksaw. “It also enables smaller operators to offer the same huge prizes as the Tier 1s, levelling the playing field.”

Hacksaw’s plan involves launching My Lucky Number with a $25 million jackpot. This game is scheduled to come out somewhere around the middle of 2020.

From here, the developer will launch a flurry of other big jackpot games. $5 million, $10 million, and $50 million prizes are all on the agenda.

A Record Setting Online Slots Jackpot

Earlier, I covered how Mega Moolah currently holds the record for the biggest-ever internet slots prize at $21 million. It could be on its way to offering another such prize when considering that its “Mega Jackpot” is worth $11 million at the time of this post.

However, the $21m record could be a distant memory if Hacksaw’s plan goes off without a hitch. The proposed $50m jackpot would break the current mark by a wide margin at $29 million.

Even the second-largest jackpot in Hacksaw’s proposal would be a record-setter. At $25m, it would top Mega Moolah’s mark by around $4 million.

What Is Hacksaw Gaming?

Hacksaw Gaming definitely isn’t the biggest name in online gambling. One reason for this is that they’ve only been around since September 2018.

They gained a foothold in the industry by producing online scratch cards. Hacksaw has been successful in this endeavor so far.

One year after opening, they produced their first online slot in Stick ‘Em. This game, which revolves around a marshmallow mafia member, brought a totally new theme to the industry.

They’ve produced one other internet slot in Om Nom. A 4×4 slot based on desserts, Om Nom gained praise for its simple, yet unique, style.

Can Hacksaw Really Pull Off a $50m Jackpot?

Hacksaw has had a very successful start. However, I’m skeptical on their plan to offer the biggest slots jackpots known to man.

At the time of this post, they haven’t even been around for two years. Already, they’ve proposed slots prizes that would easily crush any payout that’s been offered so far.

Neither Om Nom nor Stick ‘Em features a top payout that’s anything notable. Their next upcoming slot, My Lucky Number, will allegedly leap onto the scene with a $25 million jackpot.

I’m not accusing Hacksaw of lying about what they intend to do. They’ve proven to be a reputable developer so far with their online slots and two dozen scratch cards.

Most likely, Hacksaw Gaming has secured large outside investments and/or big loans to help them offer these jackpots. They’re assuredly not announcing $25m and $50m prizes based on air.

Again, though, I want to see these jackpots before automatically believing that slots prizes will reach astronomical heights in less than a year’s time.

Will Hacksaw Encourage Other Slots Providers to Up Their Jackpot Game?

Microgaming and NetEnt have had no trouble offering big slots payouts in the past. Playtech and Yggdrasil Gaming have delivered massive prizes too.

However, none of these providers hold a candle to the upcoming Hacksaw insured jackpots. I wonder if the latter will kick-start an arms race to feature bigger and better top prizes.

Microgaming is best positioned to challenge Hacksaw’s $25m and $50m payouts. They currently seed Mega Moolah at $1 million, but they could increase the seed to $5m or $10m and encourage faster-growing jackpots.

Bovada Casino, which uses proprietary software, also features a large jackpot through Shopping Spree (currently $4.56m). They could conceivably offer bigger payouts when considering their large share of the US market.

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GTECH has built a large jackpot through Aladdin’s Lamp €5 that’s worth over $4 million. They might be a dark horse contender for the future slots jackpot record.

Playtech, Yggdrasil, Realtime Gaming (RTG), Blueprint Gaming, and NetEnt are other possibilities that could factor in.

Of course, the idea that developers will suddenly began offering bigger jackpots just because of Hacksaw is pure speculation. But I wouldn’t be surprised to see at least 2-3 of these software providers make an attempt to compete with Hacksaw.

Should You Play for These Record Setting Prizes When They Launch?

Assuming these giant online slots jackpots become available as planned, they figure to cause hysteria among the gaming community. As for whether you should join in this frenzy depends on your personal preferences.

If you’re somebody who dreams of getting rich through slots, then you can best accomplish your dreams through these upcoming games. No slot machine—online or land-based—has ever paid out $50 million.

Only Megabucks, which is available in Nevada casinos, has delivered over $25 million. It currently holds the record for the biggest slots jackpot ever at $39.7 million (2003).

Therefore, Hacksaw Gaming’s slots will offer the largest prizes you can find at any casino. You should target these games above all if you have visions of mansions, Lamborghinis, and private islands.

Downsides to pursuing this prize include volatility and the odds. Regarding the latter, you’re almost assuredly not going to win $50m, $25m, or even $5m.

Of course, the dream is that you’ll defy the odds and win big. However, I wouldn’t count on it in this lifetime.

Any slot that offers even a $1 million jackpot will have serious volatility. Just imagine what kind of volatility you’ll deal with when a $25m or $50m prize is introduced.

Finally, you also need to worry about the taxes and potential payout structure if you do somehow win. Lumpsums for big gambling prizes usually only deliver 60% of the amount, while annuities (annual payouts) reduce the value of the prize when account for inflation.

Conclusion

Hacksaw Gaming is embarking on an insane plan to offer several insured slots payouts worth between $5 million and $50 million. The latter would smash the record for the biggest slots jackpot of all time.

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I’m still skeptical on whether these prizes will launch as planned. After all, Hacksaw is proposing to more than double the largest online slots jackpot ever.

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Nevertheless, I’ll be watching with vested interest if these games do roll out as planned. Based on Hacksaw’s solid reputation so far, I’m guessing that they will actually offer the $25m and/or $50m payouts at some point.