Tony Pieper from Dallas, Texas, hit the second largest penny Megabucks jackpot was hit in Las Vegas at the Casino Royale and Hotel. Pieper hit the $11,319,297 top prize after investing $80 in the machine. The largest jackpot paid out on the penny Megabucks was $18 million which hit in January of 2007. I must admit that I have to laugh when I hear the advertisement telling me that I can win millions by playing a penny slot machine. The reality is that you must play three dollars to win the top jackpot in the regular Megabucks machine and you must play 300 pennies to win the jackpot in the penny Megabucks machine. Call it what you want but it is hardly a penny slot machine.