Last updated: May 2026. Comparison based on 200+ test spins on each title at the four featured AU casinos.
A lot of Aussie pokie players load "Mustang Gold" and accidentally end up on "Mustang Gold Megaways" — or vice versa. They're different games, built years apart, with completely different math engines. The original 2018 Mustang Gold is a 25-payline hold-and-win Money Respin pokie. Mustang Gold Megaways is a 117,649-ways follow-up using BTG's Megaways engine. Same theme, same horseshoes-and-cowboys aesthetic, very different gameplay. This article puts them head-to-head and helps you pick. For the editorial take on the original alone, see our Mustang Gold Australia pokie review.
Quick links▶ Play Mustang Gold (original) · 🆓 Free Demo · 🎁 Welcome Bonus
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Side-by-side spec sheet
| Spec | Mustang Gold (Original) | Mustang Gold Megaways |
|---|---|---|
| Released | 6 November 2018 | 2021 |
| Engine | Hold-and-win (Money Respin) | Megaways (BTG-licensed) |
| Grid | 5 reels × 3 rows (fixed) | 6 reels × variable rows |
| Ways / paylines | 25 fixed paylines | Up to 117,649 ways |
| RTP | 96.53% | 96.50% (variant-dependent) |
| Volatility | High (4/5) | High (4/5) |
| Bet range (AUD) | A$0.25 - A$125 | A$0.20 - A$100 |
| Max win | 12,000× stake | 10,000× stake |
| Signature mechanic | Money Respin + Money Collect | Megaways tumble + multipliers |
| Free Spins (initial) | 8 | 10+ (scatter-count scaled) |
| Free Spins multipliers | None | Yes — escalating multipliers |
| Jackpots | 4 fixed (Mini/Minor/Major/Grand) | None |
| Bonus Buy (AU) | No | Yes (in some markets) |
| Bonus Buy cost (where offered) | ~100× | ~100× |
| Sticky horseshoes | Yes (Money Respin) | No |
Different engines, different feel. Megaways is about tumbling cascades and escalating multipliers. The original is about horseshoes locking into a grid and a respin counter ticking. If you're weighing the original against its older sibling instead, our Mustang Gold vs Wolf Gold comparison covers that pairing.
The two engines explained
Original Mustang Gold — Money Respin / hold-and-win
Spin → horseshoes appear → Collect symbol fires → cowboy lassos horseshoes → cash + jackpot payout. Or 6+ horseshoes trigger the Money Respin: locked horseshoes, 3 respins resetting on new symbols, payout when counter expires or grid fills.
Pacing: slower, structured around discrete events. The Money Collect and Money Respin are clearly defined moments.
Payout shape: lumpy. Long stretches of base-game line wins, then a big Collect, then back to base. The 12,000× max win is reached by compounding Free Spins retriggers with Money Collect events.
Mustang Gold Megaways — Megaways tumble
Spin → variable number of symbols on each reel → ways calculated → winning combinations evaluated → winning symbols tumble away → new symbols cascade down to fill the gaps → winning combinations re-evaluated → repeat until no new wins. This is the classic Megaways "tumble" feature.
Pacing: faster, continuous. Cascades chain mid-spin. A single spin can deliver multiple sequential wins as the tumble engine resolves.
Payout shape: smoother in the moment-to-moment (cascades extend wins on the same spin) but the variance is still high. The 10,000× max win is reached through Free Spins with high multipliers and long cascade chains.
Free Spins — completely different
In the original, Free Spins is 8 free spins with the Money Collect feature active throughout, retriggers possible, and Money Respin possible from within.
In Megaways, Free Spins is typically 10+ free spins (scaling with scatter count at trigger) with an escalating win multiplier that grows as you land cascading wins. Each cascade adds to the multiplier. By the end of a long Free Spins run, multipliers can reach 50×, 100× or more on a single chain — which is the path to Megaways' big wins.
Two entirely different bonus-round philosophies:
- Original: big payouts come from compounding discrete Collect events.
- Megaways: big payouts come from escalating multipliers on long cascade chains.
Our original's Free Spins bonus and retriggers guide walks through the Collect-driven path in detail.
Volatility and bankroll
Both games are rated high volatility (4/5) by Pragmatic Play. The session feel is different though:
Original Mustang Gold sessions feel more punctuated. You spin, you wait, you spin, then a Money Collect fires, then you spin some more. The big events are concentrated.
Megaways sessions feel more continuous. Cascades extend wins; multipliers grow during Free Spins. The variance is still high but the time between "something happening" is shorter.
Bankroll requirements are similar — both want 150-200× bet as a sensible starting buffer.
RTP — basically tied
- Original Mustang Gold: 96.53% (single-variant deployment at featured casinos)
- Mustang Gold Megaways: 96.50% (variant-dependent — some casinos run 94.50% or lower variants)
The RTP gap is negligible. What matters more for Megaways is variant verification — Megaways titles ship in multiple RTP builds and the worst variants can be 4 percentage points below the certified default. Always check the in-game info panel before depositing on Megaways.
The original Mustang Gold appears to be single-variant 96.53% at all four featured casinos at time of review.
Max win — 12,000× vs 10,000×
The original Mustang Gold's ceiling is higher at 12,000× stake vs Megaways' 10,000×. Counterintuitive — you'd expect a 117,649-ways Megaways title to have the bigger ceiling — but Pragmatic Play tuned the original's cap higher to compensate for not having multipliers.
From a A$10 bet:
- Original max: A$120,000
- Megaways max: A$100,000
Both are massive ceilings; both are extraordinarily rare.
Jackpots — only the original has them
This is a significant difference. The original has the four-tier fixed jackpot ladder (Mini/Minor/Major/Grand) — payouts that drop regularly across longer sessions, especially the Mini.
Megaways has no jackpots. Big payouts come entirely from cascade-and-multiplier compounding in Free Spins. There's no equivalent to "Mini drops 1 in 150 spins" rhythm.
For players who like the jackpot-ladder structure, the original wins this category outright.
Bonus Buy availability
In EU regulated markets, both games offer Bonus Buy at roughly 100× of base bet.
In AU featured casinos:
- Original Mustang Gold: No Bonus Buy at any of the four featured casinos.
- Mustang Gold Megaways: Bonus Buy available at Joe Fortune and CasinoRocket (verified May 2026). Not at Vegasnova or GreatSlots.
If Bonus Buy is the deciding factor for you and you want it on AU casinos, Megaways is the one to pick.
Theme — same aesthetic, different art direction
Both games share the Wild West frontier theme — horses, cowboys, sheriffs, ranches. The art direction differs:
Original Mustang Gold is a tighter, more focused 5×3 grid against a sun-bleached ranch backdrop. Cleaner UI, fewer moving parts, more old-school slot feel.
Megaways is a busier 6-reel layout with variable row counts. More visual movement (rows shifting between spins), more particle effects, a more modern UI. Some players find it more exciting; others find it visually overwhelming.
When to pick the original
Choose the original Mustang Gold if:
- You like structured, discrete bonus events (Money Collect, Money Respin) over continuous cascades.
- You like the four-tier jackpot ladder — Mini/Minor/Major/Grand drops as session rhythm.
- You want the higher max-win ceiling (12,000× vs 10,000×).
- You're not bothered by the lack of Bonus Buy.
- You like the cleaner 5×3 grid aesthetic.
When to pick Megaways
Choose Mustang Gold Megaways if:
- You like the Megaways cascade-and-multiplier engine (escalating multipliers in Free Spins are addictive).
- You want Bonus Buy available at AU casinos.
- You prefer the variable-row 6-reel grid visually.
- You don't care about fixed jackpots — you'd rather chase compounded cascade payouts.
- You're already a Megaways enthusiast (Bonanza, Buffalo King Megaways, etc.).
The recommendation — start with the original
If you're choosing for the first time:
Start with the original. It's the cleaner introduction to the Pragmatic Play hold-and-win family. The Money Respin engine is iconic, the jackpot ladder gives sessions a rhythm, and the 96.53% RTP is reliably deployed at the featured AU casinos.
Try Megaways once you've enjoyed the original. If you find yourself wanting more visual chaos, faster pacing, and Bonus Buy access, the Megaways follow-up will scratch that itch.
If you only ever play one, the original is the more cohesive design.
Try both — same casinos, same horseshoes▶ Play Mustang Gold (original) · 🎁 Welcome Bonus
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Quick FAQ
Are they made by the same studio? Yes — both Pragmatic Play. Megaways is licensed from Big Time Gaming (BTG).
Can I claim a welcome bonus on either? Yes — both qualify as eligible slots at the featured casinos.
Which has the higher RTP? Original: 96.53%. Megaways: 96.50% (variant-dependent). Practically identical.
Which has the higher max win? Original wins: 12,000× vs 10,000×.
Which is better for beginners? Original — the mechanics are more structured and easier to learn.
Which is better for Bonus Buy fans? Megaways — only Megaways offers it at AU casinos.
Do they share progress / loyalty / etc.? No — they're separate titles. Account history is shared at the casino level; in-game state is per-title.
Same scatter / wild symbols? Visually similar but reskinned for Megaways' 6-reel layout. The trigger logic differs.
Same Money Respin mechanic on Megaways? No — Megaways doesn't have the Money Respin. Free Spins is the only bonus round.
Which is more popular? The original is more played overall. Megaways has stronger appeal among Megaways-engine enthusiasts.
About this comparison
Comparison based on 200+ test spins per title at all four featured casinos in April-May 2026. RTP and max-win figures verified against Pragmatic Play product pages.
Gambling responsibly. Whichever you pick, set limits before depositing. AU support: gamblinghelponline.org.au · BetStop · 18+ only.
Further Reading
Related reading in this guide: