Let It Ride comprises three betting rounds and many versions of the game also give players the chance to place a bonus bet. The New Jersey player had bet $500 in each of the three rounds, plus another $500 bonus bet. When he hit the Royal Flush, the hand (which by then had a total of $1,500 wagered on it) paid out at odds of 1,000/1, and the $500 bonus bet paid out at odds of 40/1.
The total payout of $1.52 million for the single online game beat the previous state-wide record of $1.3 million. That previous record had been established in November 2014 by a woman playing the online Millionaire Genie slots game, so it didn't stand for very long and it will be interesting to see how long New Jersey will have to wait for the latest record to be broken.
Paying out a seven figure jackpot obviously has quite a negative impact on the balance sheet of the venue concerned in the short term, but over the long term the large payouts can actually be very good for business. In the first instance, news of such big wins tends to make headlines, and reading about someone succeeding on a large scale invariably encourages others to start playing online casino games. That increased 'virtual footfall' helps the industry as a whole and can actually help venues which deliver big payouts to make even larger long-term profits as a result.
We will probably never know the identity of the man who set the new online jackpot record for New Jersey, but we would like to extend our congratulations to him regardless. As far as the question of how long the new record will last is concerned, only time will tell.