Mustang Gold Slot Review and Guide

What Mustang Gold is

Pragmatic Play released Mustang Gold on 17 January 2019, a Wild West game of cowboys, cowgirls and galloping horses on a 5x3 grid with 25 fixed paylines. Its hook is a money collect system: cash-value symbols land on the first four reels, and a dedicated collect symbol on reel 5 sweeps them up. Some money symbols carry a jackpot label instead of a value, and collecting one opens a pick-and-match bonus game.

The provider lists the RTP at 96.53%, the same value the demo server reports, and the game page names a 12,000x maximum win. The rules describe it as a medium volatility slot. In 2024 Pragmatic followed it with Mustang Gold Megaways, a much larger 6x7 game, but this guide covers the 2019 original.

How a spin works, step by step

1. You pick a total bet, which always covers all 25 lines.
2. The reels stop. Line wins pay from the leftmost reel on adjacent reels, with only the highest win per line counted.
3. The wild appears on reels 2, 3, 4 and 5 and substitutes for everything except the scatter, the money symbol and the collect symbol.
4. If money symbols are visible on reels 1 to 4 and a collect symbol lands on reel 5, all their values are added together and paid.
5. If any of those money symbols shows JACKPOT, each one starts a Jackpot Reveal bonus.
6. Three scatters on reels 2, 3 and 4 pay 1x the total bet and award 8 free spins.

Symbols and paytable

The demo server lists line pays in coins, with 25 coins per total bet. Converted to multiples of your total bet:

Notice the steep drop between five and four of a kind. Five Premium 1 symbols pay 20x, but four pay only 2x. With wilds absent from reel 1, every winning line needs a real symbol on the first reel, and the full five-reel hits are where the line pays matter.

A quick example at a 1.00 bet: a Premium 2 symbol on reel 1, wilds on reels 2 and 3, and Premium 2 symbols on reels 4 and 5 make five of a kind on that line, worth 12.00. If reel 5 had shown a card symbol instead, the same line would pay the 4 of a kind value of 2.00. One position decides a sixfold difference, which is typical of this paytable.

Where the wild helps and where it does not

The wild covers reels 2 to 5, so it can extend any line that starts with a real symbol on reel 1. It cannot replace the scatter, the money symbol or the collect symbol. That last point matters most: a wild on reel 5 never acts as a collector, and it never turns a near miss on the money feature into a payout. Treat the wild purely as a line-win helper.

The money symbol and the collect symbol also never form line wins themselves. They work only as a pair, values on the first four reels and the collector on the last, so a spin can pay from lines and from a collect at the same time, two separate sources added together at the end.

Money symbols and the collect symbol

The money symbol lands only on reels 1 to 4. Each one shows a value of 1x, 2x, 3x, 5x, 8x, 10x, 12x, 15x, 18x, 20x, 25x, 30x or 35x your total bet, or the word JACKPOT. On its own, it does nothing. It pays only when a collect symbol lands on reel 5 in the same spin. Then every visible value is added up and paid, a straightforward money collect mechanic with no extra multipliers applied.

This creates the game's distinctive rhythm. You will often see three or four money symbols worth decent amounts and then watch reel 5 stop on something else. Those near misses are part of the design, so judge the game by what actually gets collected over a few hundred spins, not by what appeared on screen.

The Jackpot Reveal bonus

When a collect lands while one or more JACKPOT money symbols are visible, you get one Jackpot Reveal bonus for each of them, played one after another. In each bonus you pick positions to reveal jackpot symbols, and the first jackpot you match three times is awarded. The four prizes are fixed:

Every Jackpot Reveal pays at least 50x, so even the smallest outcome is a solid win. Two jackpot symbols collected together mean two separate reveals.

Worked example: a collect at a 0.50 bet

You play at 0.50. Reels 1 to 4 show four money symbols worth 5x, 2x, 15x and 3x, plus one JACKPOT symbol. A collect symbol stops on reel 5. The four values add up to 25x, so you receive 12.50. Then the Jackpot Reveal starts. Suppose you match three of the 100x tier first: that pays another 50.00, bringing the spin to 62.50, or 125x your bet.

Without the collect on reel 5, the same screen would have paid nothing from the money symbols. That is the trade-off at the centre of Mustang Gold: generous values on reels 1 to 4, but only one reel that can unlock them.

Free spins with extra money and collect symbols

Three scatters on reels 2, 3 and 4 pay 1x the total bet and start 8 free spins. Special reels are used, and they carry more money symbols and more collect symbols than the base game. The money collect feature works exactly as before, so the extra symbols mean more frequent collections and more chances to grab a JACKPOT symbol along the way.

Three more scatters during the round add 8 more spins, with no limit on retriggers. A strong round usually combines several collects of mid-sized values with at least one Jackpot Reveal.

To picture the scale, imagine a 1.00 bet and eight free spins in which three collects land. The first picks up 3x and 8x, the second 10x, 2x and 5x, and the third 20x plus a JACKPOT symbol that reveals the 50x tier. The collects bring 48.00 and the reveal 50.00, so the round pays 98.00 before any line wins. Nothing in that round is extreme, which shows how the extra symbols in free spins add up through repetition rather than one huge hit.

Bankroll and stake sizing

• Plan for a few hundred spins per session. At 0.50 a spin, 150.00 gives you 300 spins.
• Read the jackpots as cash at your stake: at 0.25 the tiers are 12.50, 25.00, 50.00 and 250.00.
• Do not chase a collect. Reel 5 has the same chance on every spin, however many money symbols you just missed.
• Keep your stake flat and set a stop-loss before you begin.

If you enjoy money symbols with a western setting, Wild West Gold takes Pragmatic's frontier theme in a sticky wild multiplier direction, while Chilli Heat uses a respin round where money symbols fill the grid.

Testing it in the demo and reading the rules

The demo on this page runs on Pragmatic's own server with the real rules. Before playing for money:

• Check the RTP shown in the game information for your operator. The provider lists 96.53%.
• Look at the bet limits, which depend on the operator and currency.
• Count in the demo how often a collect lands while money symbols are on screen. That ratio drives the base game.
• Note that the 12,000x maximum win is a ceiling, reached only in exceptional rounds.

Real-money play is for adults 18 and over. Keep it to a budget you are comfortable losing.

Where to play Mustang Gold for real money

Welcome bonus up to 500% on the first deposits18+ · Terms apply · Check that the platform is available in your country

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PaylinePilot editorial team · Numbers on this page come from the in-game rules and paytable, not from press releases.