Lot of Cash from King Cashalot Progressive

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King Cashalot is one of the progressive jackpots in the portfolio of the leading online casino software provider Microgaming. Yesterday through a press release, Microgaming stated that one lucky player had won over £1.5 million wagering on King Cashalot. The hit took place at Ladbrokes Casino. Mike Hebden, Head of Casino at Microgaming, said, "I am delighted that the progressive jackpot network has created another millionaire. It is so exciting when this happens and I am extremely proud that the player is paid in one single payment, rather than an annuity."

The press release also clarified an issue that often vexes new online casino players. The jackpot win amounts are sometimes shown in one currency and sometimes in another currency. The progressive jackpot ticker actually shows the amount in credits. The winner is paid in the currency in which he has played the game. Therefore, if the credits show 1,000,000 and the player is from the United Kingdom he will be paid £1,000,000. However, if the player is from Spain he will be paid €1,000,000.

This payout of 1,527,198 credits is the largest given out by the King Cashalot slot game in the last four years or so. There have been only two other million dollar payouts in this period. The first one was for 1.00 million and the second one for 1.03 million. The average payout per hit from King Cashalot has been about 700,000 credits. This shows just how lucky the player from Ladbrokes Casino has been to win £1,527,198.

King Cashalot is a five reel nine payline video slot with a medieval theme. The symbols on the reels include king, queen and knight with culinary delights from a royal repast. To be eligible for the progressive jackpot, players must wager 45 coins per spin. Each coin has a fixed value of 0.05 credits, so the wagered amount is only 2.25 credits per spin to play for the jackpot. If five king symbols appear on the 9th payline, the player wins the jackpot. Even without the progressive jackpot King Cashalot has plenty to offer. There are multiplied payouts and an exciting Treasure Bonus round.

In all, Microgaming has 37 progressive jackpot casino games in its Progressive Jackpot Network. This is by far the largest progressive network offered by any software provider in the online casino industry. Since its inception this network has paid out over €285 million to over 8,000 lucky players. As indicated by Hebden, Microgaming holds the record of the biggest online jackpot win in history back in May 2009 with a staggering €6.37 million single pay out. This was on the online slot game Mega Moolah.

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