On the hierarchy of casino games, penny slots used to be on the bottom rung of the ladder. It is something that serious gamblers look down on- a game that is played only by casual gamers and low rollers.
But in this day and age, more and more people are tightening their belts and trying to avoid spending too much on gambling. And this is main the reason why the popularity of penny slots have pretty much exploded. Penny slots appeal to micro-managing players who want more control over how they gamble their money. Most casinos nowadays rake in most of their income, usually from anywhere near 40% to 60%, from penny slots.
What are Penny Slots?
Penny slots are just like any other video slots machines. The mechanics and gameplay are just the same, press a button or push a lever, then wait for the reels to start spinning. The difference is in the denomination that these machines accept, which is a lot less than what standard dollar machines use. While most slots only accept dollar bills or the casino’s own electronic ticket, penny slots accept… pennies. You can even bet only a single penny if you want to!
Betting on Penny Slots
But of course, if you really want to increase your chances of winning something, you have to bet more than one penny. The number of spins varies from machine to machine, but $10 usually gives you 1,000 credits (or 100 credits per dollar). These credits can then be used to increase the number of lines which you can bet on, or to use a multiplier (thereby allowing you to win more coins per line).
Can You Make Money Out of Penny Slots?
If you’re lucky, you can. In May this year, a man from Connecticut won a staggering $2.3 million in just a minute of playing from a penny slot machine at Atlantic City’s Borgata Hotel Casino.
But penny slots, like every other gaming machine inside a casino, are always pre-programmed with a considerable house advantage. And since they are the lowest denomination among slot machine games, they also have the highest “hold” percentages. If you are not careful, you could end up paying even more than what you would shell out for the regular dollar machines.
But don’t fret though. here are a few tips to make sure your wallet won’t take a beating while playing penny slots.
1. Try to play the maximum number of lines, but keep your bets per line down to a minimum. The multipliers aren’t really that important since they don’t increase your odds on hitting something (just the amount you’ll get if you ever do win a jackpot).
2. Aside from the usual playing bonuses, some penny slots machines also offer random jackpots which can be won by players at any given time. These machines give you a higher chance on getting a payout.
3. If you do want to use a multiplier, alternate the amounts that you bet on each line. You can bet three coins per line on the first spin, four coins on the next, then five… and back again to three. This way, your bankroll will last much longer.