Megaways™ Mechanics Decoded: The Math Behind 117,649 Ways to Win

By Elena Petrova

In 2016, a small Australian studio called Big Time Gaming (BTG) released a slot called Bonanza. It did not look like a normal slot machine. The reels were uneven. The symbols were different sizes. And above the grid, a number kept changing: “117,649 Ways.”

To the casual player, this was chaos. To a game mathematician, it was a revolution. The “Megaways™” engine fundamentally changed how we calculate volatility. It moved the industry away from “Fixed Paylines” (where you bet on a specific line) to “Dynamic Permutations” (where the grid itself shifts every spin).

Today, everyone leases this engine. Pragmatic Play, Blueprint, Red Tiger, NetEnt—they all have a Megaways license. But do you understand what you are playing? Do you understand that the number “117,649” is a theoretical ceiling, not a standard setting? In this deep analysis, I will strip down the engine. We will look at the multiplication of reels, the impact of “Cascades” on RTP, and why the “Unlimited Multiplier” is the most dangerous mathematical variable in modern gaming.

The Core Equation: How “Ways” Are Calculated

To understand the risk, you must understand the grid. A standard slot has a fixed grid, usually 5×3 (5 reels, 3 rows).

Standard Math: 5 reels. Fixed rows. 10, 20, or 50 paylines.

Megaways uses a “Dynamic Row Modifier.” On any given spin, each reel can display between 2 and 7 symbols. The number of symbols is determined by the Random Number Generator (RNG) at the moment of the spin.

The Multiplication Factor

The “Ways to Win” are calculated by multiplying the number of symbols on each reel across the grid.

Let’s look at the “Max Megaways” scenario (the 117,649 figure):

• Reel 1: 7 Symbols
• Reel 2: 7 Symbols
• Reel 3: 7 Symbols
• Reel 4: 7 Symbols
• Reel 5: 7 Symbols
• Reel 6: 7 Symbols

The Math: $7 \times 7 \times 7 \times 7 \times 7 \times 7 = 117,649$.

This is the marketing hook. But let’s look at the “Minimum Megaways” scenario (the reality of most dead spins):

• Reel 1: 2 Symbols
• Reel 2: 2 Symbols
• Reel 3: 2 Symbols
• Reel 4: 2 Symbols
• Reel 5: 2 Symbols
• Reel 6: 2 Symbols

The Math: $2 \times 2 \times 2 \times 2 \times 2 \times 2 = 64$ Ways.

This is the secret of the volatility. The game swings between 64 ways and 117,649 ways. The vast majority of your spins will hover in the 324 to 2,000 range. You are paying a premium bet for the possibility of the 117,649 grid, but statistically, you will see it less than 1% of the time.

The “Cascading” Mechanic: RTP Injection

Almost all Megaways slots use “Cascading Reels” (also called Avalanches or Tumbles). When you form a winning combination, the winning symbols explode. New symbols drop down to fill the gaps.

Mathematically, this effectively increases the RTP of a single spin.

The Cost Efficiency:
You bet $1.00.
Spin 1: Win $0.50. (Symbols explode).
Cascade 1: Win $2.00. (Symbols explode).
Cascade 2: Win $5.00. (Loss).
Total Return: $7.50.

You received three “Outcomes” for the price of one wager. This lowers the “Velocity of Loss” slightly, as the animations and cascades take time. It extends your “Time on Device.” However, the developer compensates for this “Free Action” by lowering the value of individual symbols.

In a standard 10-line slot, 5 Aces might pay 50x or 100x. In a Megaways slot, 6 Aces might pay only 2x or 50x. The value is not in the symbol; it is in the volume of symbols.

The “Unlimited Win Multiplier”: Exponential Variance

This is where bankrolls are either made or destroyed. In the Bonus Round of most Megaways titles (like Bonanza or Extra Chilli), every Cascade increases the Global Multiplier by 1x. It does not reset between spins.

The Linear Progression:
Spin 1: 1x Multiplier.
Spin 2 (after 3 cascades): 4x Multiplier.
Spin 5 (after 10 total cascades): 11x Multiplier.

If you hit a significant combination (e.g., 6 Premium Symbols) while the multiplier is at 15x or 20x, the payout becomes exponential.

The Math of the “Dead Bonus”:
However, the inverse is also true. You can trigger 12 Free Spins. You can spin 12 times and get zero cascades. Your multiplier stays at 1x. You exit the bonus with a 5x total win.
Because the “Ceiling” (Max Win) is so high (often 20,000x or 50,000x), the “Floor” (Min Win) must be incredibly low to balance the math model. Megaways bonuses are notorious for being “All or Nothing.”

The “Top Tracker” Variable

Many Megaways games (like Bonanza) feature a “Cart” or “Top Tracker” above reels 2, 3, 4, and 5. This adds an extra symbol to those reels.

From a probability standpoint, the Tracker is crucial because it often contains the Wilds. Since it is a single row moving horizontally, it acts as a “Bridge.”

If you have matching symbols on Reel 1, 2, and 3, but nothing on Reel 4… the Top Tracker is your only hope to connect to Reel 5 and 6. Mathematically, the Tracker increases the “Hit Frequency” of 6-of-a-kind wins by providing a secondary route for connectivity.

Game Clones: Same Engine, Different Skins?

Since BTG licensed the engine, the market is flooded. But are they all the same math?

No. Let’s compare:

1. Bonanza (Big Time Gaming)

• Volatility: High.
• RTP: 96.00%.
• Mechanic: Standard Megaways. No Feature Buy.
• Analysis: The purest form. Brutal base game, high potential bonus.

2. White Rabbit (Big Time Gaming)

• Volatility: Very High.
• RTP: 97.77% (with Feature Buy).
• Mechanic: “Expanding Reels.” The reels physically grow during the bonus.
• Analysis: The highest RTP Megaways slot. The “Expanding Reel” mechanic reduces variance slightly by permanently increasing the ways for the duration of the bonus.

3. Madame Destiny Megaways (Pragmatic Play)

• Volatility: Extreme.
• RTP: Variable (96.56% down to 94%).
• Mechanic: “Multiplier Wilds.” Wilds multiply each other.
• Analysis: A “Gambler’s” slot. The addition of multiplier wilds on top of the progressive multiplier creates a “Double Exponential” curve. The dead spins are frequent, but the max win cap is hit more often.

The “Feature Buy” Dilemma in Megaways

I previously wrote about Bonus Buys, but in Megaways, the math is specific.

When you buy a Megaways bonus (usually for 100x), you are skipping the “Base Game Grind.” In the base game, the RTP is often heavily weighted toward low-paying symbol connections (Ace, King, Queen) to keep you afloat.

In the Bonus Buy, you are paying strictly for the volatility of the multiplier.

The Strategy:
If you buy a bonus on a slot like Extra Chilli, you are offered a “Gamble Wheel” to increase your spins from 8 to 24.
Mathematically, you must gamble.
Why? Because with only 8 spins, the probability of building a high multiplier (15x+) is statistically low. You need Volume (Spins) to generate Cascades.
However, the Gamble Wheel has a 50/50 chance of losing everything. This is the ultimate “Risk of Ruin.” But if you want to realize the 50,000x potential, 8 spins is rarely enough. The math demands you take the risk on the wheel.

Tracking the License: Who Actually Makes the Game?

It is important to note who “Built” the math.

• Blueprint Gaming: (e.g., Genie Jackpots Megaways). Known for “Busy” math. Lots of modifiers, mystery symbols, and base game features. Higher Hit Frequency, slightly lower top-end volatility.
• Pragmatic Play: (e.g., The Dog House Megaways). “Sticky” math. They prefer Sticky Wilds over Unlimited Multipliers. This changes the distribution curve. It is less about a long string of cascades and more about landing a specific setup of Wilds on Reels 2, 3, 4.
• Red Tiger: (e.g., Gonzo’s Quest Megaways). “Balanced” math. Often lower RTP (due to Daily Jackpots attached), but smoother gameplay.

Conclusion: Respect the 117,649

Megaways is the most successful slot mechanic of the last decade for a reason. It creates an illusion of “Massive Possibility” on every spin.

But as an analyst, I see the truth. The 117,649 number is a “Max Cap.” It is not the norm. The game is a beast of variance designed to drain bankrolls quickly with complex animations and “near miss” grids.

If you play Megaways, you need a bankroll of at least 300 bets. You need patience. And you need to understand that 90% of your session will be watching 2s and 3s drop, waiting for that one moment when the 7s align and the multiplier climbs. It is a game for the patient, not the desperate.

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