Mustang Gold Slot Review
A canyon sunset in orange and magenta, a ranch-gate sign, and horseshoes glinting on four of the five reels. Pragmatic Play has built a game where the paylines barely matter: nearly everything that makes Mustang Gold worth a spin hangs on whether a single symbol lands on reel 5. Strip out the western scenery and this is a low-volatility collect slot with a jackpot ladder bolted on, and that combination is rarer than the theme suggests.
It runs on a 5×4 grid with 25 paylines, at 96.53% RTP, with a 12,000x ceiling on wins and bets from 0.25 to 250 per spin. The Money Collect system and its four-step jackpot ladder do the real work here, in the same stable as Mustang Gold Megaways and Wild West Gold.
Base Game & Features
All symbols pay left to right on adjacent reels from the leftmost reel, across 25 fixed paylines. Each line pays just its best combination, and wins on multiple lines add together. It’s a conventional setup, and the 5×4 grid gives it a touch more room than the usual three-row layout.
The paytable is a modest ladder, with all values as multiples of the total bet:
- White Horse: 0.4x for three, 2x for four, 20x for five
- Black Horse: 0.4x for three, 2x for four, 12x for five
- Cowboy: 0.4x for three, 1x for four, 10x for five
- Cowgirl: 0.4x for three, 1x for four, 8x for five
- A, K, Q and J royals: 0.2x for three, 0.6x for four, 4x for five
The horses lead the way and the royals trail well behind them. The gap opens late: a white horse and a royal pay the same 0.4x for three of a kind, and only at four and five symbols do the premium symbols pull clear.
Even five aces returns just 4x the total bet. The line wins are there to keep the balance ticking over between collect hits rather than to carry a session on their own.
Wild and Scatter
The Mustang Gold logo is wild and substitutes for every symbol except the scatter, the money symbol and the collect symbol. It only appears on reels 2, 3, 4 and 5. The bonfire scatter lands on reels 2, 3 and 4, and three of them pay 1x the total bet while opening the free spins round.
Money Collect Feature
The horseshoe is the money symbol, and it sits on reels 1 to 4. On every spin it takes a random value from a fixed set, or carries a jackpot marker instead. The full set of possible values runs:
- 1x, 2x, 3x, 5x, 8x, 10x, 12x, 15x, 18x, 20x, 25x, 30x and 35x the total bet
- Or a jackpot marker, which opens the Jackpot Reveal Bonus Game when collected
Those values are worthless on their own. A collect symbol appears only on reel 5, and when it lands alongside one or more horseshoes, the values of every horseshoe on screen are added together and paid in one go.
The two symbols never share a reel, so a spin either pays every horseshoe on screen or none of them. Because horseshoes occupy four of the five reels, a full screen of them behind a single collect can build a serious total from small individual values. That’s the top of what the collect pays without jackpot markers involved.
Jackpot Reveal Bonus Game
When a horseshoe carrying a jackpot marker hits together with a collect symbol on reel 5, the Jackpot Reveal Bonus Game opens. Each jackpot-marked horseshoe awards its own round, and the rounds play one after another in sequence, so a single spin can open several.
Inside, you pick horseshoe icons one at a time to reveal jackpot symbols, and matching three of a kind awards that jackpot and ends the round. Every pick is a fresh reveal until the third matching symbol lands, and the jackpot ladder is fixed rather than a growing pot:
- Grand: 1,000x the total bet
- Major: 200x the total bet
- Minor: 100x the total bet
- Mini: 50x the total bet
The steps between the rungs are uneven. Major sits a fifth of the way to Grand, while Mini and Minor sit close together at the bottom, so the jump from Major to Grand is by far the largest prize gap on the ladder.
Mustang Gold Free Spins & Jackpot Round
Three bonfire scatters on reels 2, 3 and 4 award eight free spins. The round keeps it simple: the Money Collect Feature stays active, but special reels are in play, carrying more horseshoe and collect symbols than the base game. The whole round bends towards the collect mechanic.
Retriggers are generous. Three more scatters during the round award eight additional free spins, with no limit on how many times that can happen. A long round with a dense reels setup is where the horseshoe values do their best work, because every extra spin is another chance at a screen of values meeting a collect.
The jackpot markers stay in the mix too, so the free spins round is also the likeliest route into the Jackpot Reveal Bonus Game. Wins land often and small, which is the low-volatility contract: frequent payouts in modest amounts, with the 12,000x ceiling and the 1,000x Grand jackpot at the far end of what the maths allows.
Free spins and bonus wins are added to payline wins, and the free spins total is paid once the round completes. Beyond the features, the game keeps its housekeeping familiar. Bets are set through the plus and minus buttons, and autoplay is available.
Spin speed options cover normal, quick and turbo. Space and enter on the keyboard also start and stop a spin. None of it changes how the game pays; it’s all standard Pragmatic Play furniture.
Our Honest Verdict
Overall Rating: 7.7/10
This is a quiet game wearing loud boots. Sessions move at an amble: line wins trickle in, horseshoes stack up, and the whole thing turns on whether that collect symbol arrives. That’s exactly why somebody picks it over the dozen other westerns – you’re always one spin from a screen of values paying out at once, with a jackpot pick round hiding in the same mechanic.
The free spins round is the best thing here, because the denser reels make the collect fire properly and the unlimited retriggers let a good round keep growing. The weakness is the base game between bonuses: the paytable tops out at 20x for five white horses, so a barren stretch of collect misses gives you almost nothing back.
If you want volatility and brutal swings, this canyon isn’t where you’ll find them. For anyone who likes steady small returns, a jackpot chase inside a calm frame, and a pretty sunset to watch while it grinds, Mustang Gold is an easy slot to sit with.
Mustang Gold FAQs
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What is the RTP of Mustang Gold?
96.53% -
Is Mustang Gold high volatility?
No. Mustang Gold is a low-volatility slot, which means it pays out more often in smaller amounts while still offering the chance of a big win. -
How many paylines does Mustang Gold have?
Mustang Gold has 25 fixed paylines, all paying left to right from the leftmost reel. -
What is the grid size of Mustang Gold?
Mustang Gold runs on a 5×4 grid, with five reels and four rows. -
How do you trigger free spins in Mustang Gold?
You need the bonfire scatter on each of reels 2, 3 and 4 in a single spin. That awards eight free spins, and the same combination during the round adds eight more with no limit on retriggers. -
How does the Money Collect Feature work in Mustang Gold?
Horseshoe money symbols land on reels 1 to 4 carrying random values from 1x up to 35x the total bet, or a jackpot marker. If a collect symbol lands on reel 5 at the same time, all horseshoe values on screen are added together and paid. -
What are the jackpots in Mustang Gold?
The Jackpot Reveal Bonus Game offers four fixed jackpots: Grand at 1,000x the total bet, Major at 200x, Minor at 100x and Mini at 50x. You pick horseshoes and match three symbols to win the corresponding jackpot. -
Who makes Mustang Gold and what is the maximum win?
Mustang Gold is made by Pragmatic Play, and the maximum win is 12,000x the bet, with stakes from 0.25 to 250 per spin.

