Quoted from jfh:1) Download the code, should have .BIN as file type
2) Make sure you have a USB drive formatted as FAT32 (default) and copy BIN file to it.
3) With game on, open your backbox and locate the bank of dip switches. Change switch 8 (the top one) to ON.
4) Hit the white button above the dip switches to reboot the game
5) Hit the SELECT button (black button inside coin door)
6) Hit SELECT again when prompted
7) Insert USB drive into USB slot on CPU board
Follow prompts to run the update.
9) Remove USB drive
10) Set switch 8 back to OFF
11) hit SELECT to reboot the game (or power cycle the game)
Did my first update yesterday as well. I was surprised that I could not find instructions on Stern's website.
I flip the dip switch and put in the usb with the power off. Booted up and followed the directions. The game asks you if you want to scan the file. If you are having issues with the file, you might want to do that and make sure it is not corrupted.