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Mustang Gold Slot - Review, Free & Demo Play

Mustang Gold
Mustang Gold
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Updated: 23.09.2025
Reviewed by: Joe Booth

Take a trip to the deserts of Arizona in the wonderful Mustang Gold game! Released on 17/01/2019, this great title has a great atmosphere, superb design, and a set of fun features like the Free Spins and even several jackpots!

How do all of these features work, what is the top prize, and where you can play Mustang Gold – we will discuss all that and more as we overview this horse-themed slot, and discuss everything about it!

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In this review
  1. Slot details
  2. Theme
  3. Bonus Rounds & Free Spins
  4. Summary
  5. Where to play
General information about Mustang Gold slot

General information about Mustang Gold slot

Rating by Joe Booth:
7.9
User’s Rating: (based on  reviews):
8
Pragmatic Play
Write a review +25 SJ points
  • Release Date:
    17.01.2019
  • Volatility:
    Medium
  • RTP:
    96.5%
  • Multiplier:
    Yes
  • Max. win:
    12,000x
  • Bonus game:
    No
  • Free spins:
    Yes
  • Scatter Symbol:
    Yes
  • Wild symbol:
    Yes
  • Symbol Stacked:
    No
  • Jackpot Game:
    Yes
  • Slot lines:
    25
  • Slot reels:
    5
  • Layout:
    5-3
  • Stakes range (€/£/$):
    0.25 to 125
  • Slot Theme:
    Wild West
  • Technology:
    JS, HTML5
More infoLess info

Live stats from Slotsjudge

Slotsjudge employs its proprietary simulation, running 10,000 rounds daily to provide updated game data, with the latest figures reflecting the most recent analysis. For Mustang Gold, the simulated RTP stands at an impressive 112.48%, though the declared RTP remains at 96.5%, indicating the theoretical payout over time. The game exhibits a hit frequency of 35.47%, meaning more than one in three spins typically results in a win, and the average win multiplier is 3.17x. Players can expect a moderate level of volatility, with the potential for significant payouts—up to 2049x their bet—highlighting the game’s capacity for larger wins. Overall, the balanced combination of hit frequency and volatility suggests Mustang Gold offers engaging gameplay with the possibility of both steady small wins and sizable jackpots, as captured through Slotsjudge’s ongoing analysis.
  • Declared RTP:
    96.5%
  • Simulated RTP:
    112%
  • Bets sum:
    10000 €
  • Wins sum:
    11248 €
  • Bets:
    10000
  • Average Win:
    3.17 €
  • Max Win Observed:
    2049 €
  • Bonus Frequency:
    61
  • Hit Rate:
    35%
  • Wins:
    3547
More infoLess info

Licensed and tested by

  • GA (Gaming accotiates)
  • Gambling Comission
  • Gaming Board For The Bahamas
  • GLI (Gaming Labs Certified)
  • HM Goverment of Gibraltar
  • ONJN

How to Play

Mustang Gold is an uncomplicated game with a very common layout of 5 reels, 3 rows, and 25 paylines. All the symbols pay left to right on the paylines, and the features – even the jackpot – are very simple and easy to understand. But in order to understand said features, you first need to learn some basics on how to get started playing Mustang Gold! And this is very simple, right after you have launched the game you need to:

  1. Set your bet by clicking the plus/minus symbols near the spin button. The lowest stake at Mustang Gold is €0.25 and the highest one is €125
  2. Selecting the stake right away is important because with a precise bet you also can see the precise value of the symbols, according to said bet. So then you need to press the information button (next to the credit/bet) and take a look at the paytable of the Mustang Gold and the game rules
  3. We also recommend going to the settings menu (3-lines icon), to adjust some options
  4. Following that you can then press the spin button, and play!

Mustang Gold RTP and Volatility

8.5 
Mustang Gold is a medium volatility slot that has an RTP of 96.53%.
The volatility of the Mustang Gold is medium and that means that the slot is well balanced in how often you get a winning combination and how big of a reward the game gives. Although it depends on your playstyle, usually medium volatility is the most desired one by many players. What we also really love is that the Mustang Gold slot has an above-average Return to Player rate, and after the win, you will be paid back 96.53% of the sum.

Theme

8 

The Mustang Gold takes place in the desert environment, accompanied by great Western-inspired music, to set the tone. Just like all the games of the Pragmatic Play, Mustang Gold has a very well-made design: with a detailed background of the desert and canyons, to the colors and the looks of the reels - all this looks very good and we can easily say that the design is one of the strongest aspects of the Mustang Gold. Especially since this is a 2019 slot.

The symbols in the Mustang Gold are also done amazingly, and there are quite a lot of them. You have the basic symbols, such as J, Q, K, and A (all of them have the same value of 0.20x, 0.60x, and 4x), the cowgirl, the cowboy, and 2 stallions – black and white.

Then there are 4 special symbols namely the Scatter, Wild, Money, and Collect symbols. The Scatter has an icon of the bonfire, and it will pay 1x of your bet and trigger the free spins feature once you collect 3 of them. The Wild – like always – will substitute for all symbols except the unique ones. The Money symbol is the one that carries a jackpot, while the Collect symbol will work in conjunction with the Money one to help you activate the Jackpot Reveal Bonus Game.

Theme
Mustang gold slot paytable

Mobile Compatibility

Mustang gold slot mobile
Made with HTML5 and good technology, Mustang Gold is fully optimized for mobile gadgets, and you can easily play this game on any type of device. Regardless of the OS, the gameplay will be smooth and with exactly the same features as the ones you get on the desktop version of the slot.

About Pragmatic Play

Pragmatic Play is a brand with 5+ years of experience, worldwide recognition, a good reputation, and a diverse portfolio of more than 200 products. Creators of such good games as October Fortunes, Down the Rails, Magic Money Maze, Greedy Wolf, and others, Pragmatic Play consists of an expert team that knows how to create innovative, exciting, and feature-rich slots, with wonderful design. Pragmatic Play itself is a reliable provider that has licenses from Romania, MGA, Bahamas, and the UKGC. Plus the company is certified by Gaming Laboratories International and Gaming Associates.

Bonus Rounds & Free Spins

8 

Money Collect Feature

During every spin, the Money symbol will take in a random value from the predefined set of jackpots. So when the Money symbol lands on reels, and a Collect symbol lands on reel 5, the values of all the Money symbols on the screen will be added together and paid to you.

When the 1+ Money symbol with a Jackpot appears anywhere on the screen and the Collect symbol hits reel 5 you will get 1 Jackpot Reveal Bonus Game for every Money symbol with a Jackpot hit.

Jackpot Reveal Bonus Game

In this feature, you will have to pick a money symbol to reveal a jackpot symbol. Once you match 3 of the same symbols you will be awarded the corresponding jackpot:

  • Mini – 50x
  • Minor – 100x
  • Major – 200x
  • Grand – 1,000x of your total stake

Free Spins

The Free Spins Feature will be activated after you hit 3 Scatter symbols on reels 2, 3, and 4. Then the game awards you 8 free spins.
Mustang gold slot Free Spins

Mustang Gold Demo Play

On this page, you can also enjoy the demo version of the Mustang Gold. This is the version that requires no deposit or registration at a casino, so anyone anywhere can launch this demo, and play Mustang Gold for free, enjoying the same gameplay. This is a great mode, which allows anyone to check the game and play with all the same features, learning how they work.

Max Win

7.2 
Mustang Gold offers the maximum win of 12,000x.
Not only the good volatility and Return to Player of the Mustang Gold slot will make it a bit easier for you to win the top prize of 12,000x, but also the presence of different game modes. You have the free spins bonus game you can retrigger and 4 lovely jackpot options! Sadly though, Mustang Gold has no bonus buy.

Overall Rating

7.9
Given that the Mustang Gold has good, medium volatility, straightforward gameplay, and a good RTP of 96.53%, we think that Mustang Gold is a game that will appeal to most players, especially those that like more relaxed gameplay. And the huge winning potential with 12,000x of your stake, and several jackpot options, will be quite interesting to high-stake players.
Hits
A good RTP/volatility balance
Fine top prize of 12,000x
Great design
Presence of jackpot
Misses
Getting a jackpot is a bit tricky

Mustang Gold Slot - FAQ

Is it possible to retrigger free spins in Mustang Gold?

Of course! If during the Free Spins Feature you land on 3 Scatter symbols on reels 2–4 this will give you 8 free spins.

Which symbol is the highest-paying one in the Mustang Gold?

The most valuable symbol in the Mustang Gold is the white mustang and it will bring the payout of 0.40x, 2x, and 20x.

How to get a jackpot in the Mustang Gold?

To activate the Jackpot Reveal Bonus Game, which carries a jackpot, you need to land on 1 or more Money symbols that carry a jackpot, and the Collect symbols must hit reel 5.

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Joe Booth
Joe Booth
Expert in: News, Blog, Slot reviews, Payments
Joe is an expert online casino player, who knows all the tricks and tips on how to get to the most massive wins. He is also an experienced online casino games reviewer, with hundreds of written articles behind him, on all kinds of online casino games. He makes sure to play them, see how they work, and then gives his honest expert opinion about them to other players, our readers. 

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Reviewed by Editor-in-Chief
Nikita Lukanenoks
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Overall rating

Based on 1 reviews

8/10
Sloto Toto own avatar
Sloto Toto
6 lvl Superstar
8
Winning: €27
Multiplier: x54
A classic Pragmatic Play slot about Wild West and its fauna. It’s hard to count how many slots of this genre PP has released.
And this one of the best in the whole collection. A volatile and tricky, but potentially very generous one. Base spins are good for cash symbols that can be collected. But the heart of the matter is hold&respin with fixed jackpots.
From my experience, the slot in unbearable if in cold mood. And it’s much better to just wait than to spin and lose ur bankroll.
Review image 1679-0
27.09.2022
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