Yes, zillion is a Scrabble word!
...and is worth 16 points in Scrabble, and 19 points in Words with Friends
zillion
Adjective
1. Very large indeterminate number
Noun
1. A very large indefinite number (usually hyperbole)
What Scrabble words can I make with the letters in zillion?
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Words that can be created with an extra letter added to zillion:
S:zillions