Penny Slots can be identified as slots that take on the smallest currency denomination as the amount you can use to place a bet on your favorite slot. In classic slots, Penny slots meant that the only amount you actually required for a spin was a penny because they had only one line of pay. As the slots evolved and started having more lines of pay, the penny slot meant that you can place a penny on the active lines in order to play.
With the Online Penny Slots, now you can play at the online casinos with the lowest denomination available to you. This is usually great news to people that love gambling but cannot afford to spend large sums on the slots or players that would like to play over a certain period of time, and using larger denominations means that they will have to play for a shorter period because their bankroll will get used up faster.
How Penny Slots Operate
Penny Slots online have succeeded in taking advantage of the human psychology. When a person goes to the casino and bets a penny, the amount usually seems negligible. If you place a penny on a 5 reel and 25 line of play slot, you will spend about $1.25 on a full spin. This will give you the sense of the game being affordable which is what the house would want you feeling. This type of slot will, therefore, appeal so much to low rollers who will want to enjoy a real money slot.
How do Houses Gain from Penny Slots?
In any gambling activity, the house always wins. You are, perhaps, wondering how the house gains from such small bets. With payouts having to be done and the expenses of running the casino, isn’t playing at a penny such a waste?
Well, casinos have given the punter the impression that they are using the least amount of currency and will therefore not use a lot of money, which is not true. Unless you are betting on only one payline, you will end up using a lot more than a penny for a single game as we have seen above. Other ways the casinos have learned to take advantage of the human psychology are these;
- Usually, when using the small denominations, punters gamble without having a set budget. This may see you using more than you can spare. Having a bankroll amount set prior has always been advised but when playing with pennies, one may assume that they will end up using very little money. Before they know it, they have gone beyond an amount they could comfortably loose.
- Casinos have percentage payouts within which they operate. The payout percentage is dependent on the different types of slot as well as what is at stake. With such slots, the percentage payout is lower because the casino has to make a profit in the end. Since the minimum payout allowed is about 75%, the casinos will set the percentage payouts at around the same amount. This means that you will end up losing more than you would gain if playing at a casino with higher payout percentages. Here’s an example. If you are playing at 45 cents per spin, you will spend $270 an hour for 6 games. If the payout percentage is 80%, you will lose $44. If another would play at a casino who’s percentage payout is 98%, then for the 6 games played, you will lose about $32.4.
This said it doesn’t mean that playing on a penny slot is a bad idea. There are certain strategies that you must employ to ensure that your playing at the casino does not lead to you losing more than you anticipated.
How to Successful Play at A Penny Casino
The following tips will have you enjoying playing at a penny casino without necessarily being on the losing end.
- Decide how much bankroll you can afford to lose. Once you have your amount set, stick to that budget and do not spend more than that. As a matter of fact, have a percentage of the bankroll beyond which you should not spend if you are on a losing streak.
- Decide on the amount of time you would like to spend playing. Depending on that, divide your bankroll to fit the number of spins you expect to play at that time. That way, you won’t spend so much on say, 3 spins and you are out of money you have set aside for the game before your time is up. This will help prevent the temptation to spend money you did not intend on spending.
- Set an assumption of the payout percentage the casino will have for the game. Since the lowest they are allowed is 75%, you could place your estimate between that amount and about 86%. That way, you know how much you expect to lose to the casino. If the amount is reasonable in relation to your bankroll, then you can comfortably play at the casino.
Online Penny Slots
The following are some of the Penny Slots available to you online. They include online penny slots with bonus rounds.
- Beauty Salon
This slot is a product of Topgame Tech software developers. The video slot has 25 paylines on a 5×3 reel. The slot includes other bonus features like the wild, the scatter and free spins. The minimum bet amount per payline is $0.01. The maximum bet per line is 0.40. With the little amount, you can enjoy some other bonuses which include the gamble option which will see you go home with some handsome amount, or nothing.
- 8 Lucky Charms
This 5×3 reels and 50 lines of play slot are from Spinomenal Software providers. The slot accepts minimum deposits of a penny for a spin and about $10 per payline.the slot also boasts some features that include the wild symbols, scatter symbols, and free spins. This video slot incorporates the theme of the Chinese people.
A brainchild of the IGT software company, this slot has 5 reels and 80 paylines. The minimum deposit to enjoy this slot is $0.01. This slot has bonus features as well and these are ways through which you can earn more instead of constantly rushing to top up your bets.
- Cleopatra’s Gold
This slot by Real Time Gaming is available to play for free and with real money. The slot is available on both the online platforms through your PC and laptop as well as through the handheld devices including the iPad, iPhones and Android devices. The 5 reels, 20 lines of play allows a minimum bet of 0.01 pennies to 5 coins per line. The game boasts some bonus features that could see your bankroll earn some handsome profit.
Penny slot are an awesome option for players with a low budget for gambling. It’s, however, imperative to remember that the lesser the money you invest in a game, the lower the profits you make. Some games require that you spend some substantial amount in order to actually have a shot at the jackpot.