Million dollar dip is loaded with smoky bacon, Cheddar cheese, green onions, and the lively crunch of slivered almonds swimming in a rich and savory dip.

As an '80s child, I grew up watching wrestling, and one of my favorite wrestlers was Ted DiBiase, "The Million Dollar Man". I'd like to assume between matches he would host swanky parties where Ric Flair, Hulk Hogan, and Andre the Giant would dine on this million dollar dip. That's probably why they all constantly getting mad at each other, they were fighting over the recipe. It all makes sense now!

Million Dollar Dip

Million dollar dip is a rich and savory cheese dip that primarily consists of mayo, bacon, cheese, green onions, and almonds. My recipe expands on this classic base by rounding out the flavor with sour cream and seasonings. Sour cream, in particular, is a worthwhile improvement as I don't enjoy straight mayo as a dip base.

This recipe calls for crumbled bacon. You can certainly use your favorite brand of bacon that you may already have on hand, but I recommend looking for low-sodium bacon for this recipe. I found some brands of bacon make the dip a little saltier than what is ideal otherwise. It will still taste great either way, but dialing back the salt a bit is best.

Neiman Marcus Cheese Dip

Prior to being called Million Dollar Dip this recipe was known as "Neiman Marcus Cheese Dip". Though, the recipe was first published in Helen Corbitt’s Cookbook as a cheese spread before taking on a life of its own. How did it come to be known as the Million Dollar Dip? Well, I guess that's the million dollar question I cannot answer!

How to Customize Million Dollar Dip

I have already customized the standard version of this dip quite a bit by mixing in sour cream with the mayo for a lighter flavor and adding seasonings such as Worchestershire, garlic powder, and cayenne to prevent it from tasting one dimensional. However, there is more customization that can be done.

If someone has a nut allergy, almonds can be omitted, but I would not recommend it otherwise. Though they seem like an odd ingredient at first, they add amazing texture and crunch that really makes this dip shine. Feel free to go in a different direction with the cheese, such as using blue cheese instead. Many recipes call for more cheese than what I use, however I feel that makes the dip too thick and hard to dip. You are welcome to add more if you wish.

Can Million Dollar Dip Be Prepared in Advance?

This dip makes a great party appetizer not only because it tastes phenomenal, but also because it actually tastes best when prepared in advance. This leaves you free to worry about more pressing matters while waiting for your guests to arrive. Making this dip a day prior and placing it in the refrigerator allows the flavors to meld and noticeably improve.

Keep in mind this is a mayo and dairy-based dip, so when serving it at your party you do not want it to sit at room temperature all day. If it is going to be sitting out for more than a couple hours place it in an iced serving bowl (affiliate link) to ensure it stays at a safe temperature.

What to Serve with Million Dollar Dip

Buttered crackers, such as Ritz are my favorite serving pairing for this dip. However, tortilla chips or potato chips are also great options. You could even spread this on toasted sourdough or baguettes.