Megabucks still climbing

RENO, Nev. - The Nevada Megabucks jackpot is gradually approaching uncharted territory.

The Megabucks jackpot now stands at more than $26.4 million, the second largest jackpot in the promotion's 13-year history.

And it's only about $1 million shy of the $27.5 million record payoff at was won in November 1998 at the Palace Station in Las Vegas.

Megabucks, manufactured by Reno-based International Game Technology, links slot machines in about 150 Nevada casinos to a single jackpot that grows each time a coin is played.

It takes a $3 bet to take home the giant reward, which is paid out in annual installments over 25 years.

Until now, the second-best payout was $21.3 million, hit at Caesars Palace in Las Vegas in June.