Penny slots are exactly what they sound like – slot machines you can play for pennies. Some of them allow you to wager literally one penny and some require you too wager five cents or so. Either way, they classify as penny slots.

Penny slot machines are low-stakes games designed for players who don’t want to risk a lot. You can bet larger amounts on them, and some players increase their stakes after a big win, but you don’t have to.

With this rise of cryptocurrencies that allow microtransactions, you ca even find slot games that allow you to wager fractions of a cent per spin. That’s another story for another day, though.

Tips for Penny Slots

They can’t change the odds and guarantee wins, but your chances to make money playing penny slots will increase.

Investigate the RTP Before You Play

There’s a myth that penny slots have notoriously low RTPs. Most slots will have an RTP of 95% – 96%, regardless of the minimum and maximum stakes. The exceptions are mostly progressive jackpot slots that have lower RTPs. Penny slots may have a lower average RTP, but it’s not the case at online casinos.

Nonetheless, you should check out the RTP of a given game before you play it. This percentage determines how much money the game will return to players over the long run.

Know That the Smaller Your Wager, the Smaller the Payouts

This will be obvious to experienced players, but I don’t assume my readers know everything, so I’ll spell it out. If you bet pennies, you’ll win smaller amounts than someone who wagers dollars per spin.

Slot machine payouts are multiples of your wager. For example, a game might pay 5,000x your wager. Naturally, 5,000x a penny is a lot less than 5,000x a dollar. That’s just the way it works.

Also, keep in mind that progressive jackpot slots and other games with large jackpots will usually require you to bet more than a few pennies to qualify. For example, Jackpot Giant by Playtech requires a minimum wager of £1 to be in with a chance of winning big money.

Develop a Strategy and Manage Your Bankroll Accordingly

Slot machines are games of pure chance. Slots are random, unlike blackjack and video poker, both of which you can alter the outcome of with skill and strategy. No penny slots strategy works every time.

However, you can form certain strategies related to your bankroll. For example, you could begin by wagering $0.01 per spin, and if you win a 10x payout, double your wagers. You could even go high-risk and wager what you’ve won, 10xing your bet for a single spin.

If you win again, great, keep wagering larger amounts. However, if you lose your winnings, you could revert back to wagering pennies again until another big win comes.

When managing your casino bankroll, and especially when playing slots, have a ‘walk away’ number in mind. I have a hard, fast rule when playing slots: when I have made 50x my initial deposit, I walk, no matter what. You’ll have to decide how much is enough for you.

Are Penny Slots Worth It?

Whether or not something is worth it always depends on what you’re looking for. Is it worth it to go skydiving? How about visiting Las Vegas? It all depends on you, what you want, and the person you are.

Online Penny slots will suit players on a smaller budget or who like to play for fun without wagering serious money. However, players who enjoy the thrill of winning larger amounts will likely find them boring.