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Blog Posted on 29/12/2020 | Author: Karen Macarthur

Facts and Fallacies You Probably Didn’t Know About Penny Slots

Facts and Fallacies You Probably Didn't Know About Penny Slots

Hearing the phrase “penny slot machines” still makes my mind picture copper pennies dropped into the holes of a slot machine and the winners embracing thousands of pennies. Hope we all know this is nothing but fantasy. 

Penny slot machines are one of the well-known games in the history of the casino that has been on for years. Gaming statistics also show that a large amount of income is being generated from penny slots.

For newbies just gaining entry into the world of betting and scared of playing other games with high financial stakes should consider online casinos with penny slots. 

For penny slot games, you don’t need manuals as its mechanics are very easy to understand after playing it a few times. Compared to online roulettes, online blackjack and other casino games, this is most likely the easiest form of live casino around. That’s why newbies are likely to be naturally interested in this game. Penny slot games will, later on, be the most memorable experience even after going deep into other mobile casino games. 

However, penny slots do not give really high jackpots like online scratch cards. But you get to have fun before betting on games with high stakes.

There are many facts and misconceptions about penny slots. I’ll single out each one of them and get you informed.

1 – You need just a Penny to Play

That it’s called a penny slot does not mean just a penny is what’s needed. A dollar and much more is what’s required.

The word penny just points to the amount you need to wager on each line. Each casino has definite paylines on which you need to pay per line.

Slots like this don’t seem costly when it’s just about a ten or 20-line game. Nonetheless, 100 to 300 lines are placed by some penny slot machines. In this case, wagering $1 to $3 per game is totally impossible.

2- A huge win in Penny Slot Machines is almost impossible

Most people believe that penny slots can only be used to catch fun as a large payout percentage is very low. They think only games with higher stakes have a high payout rate. This isn’t totally untrue as wagering higher money increases your chance of winning a larger payback. This simply means that the amount you wager is directly proportional to your payouts. However, in the progressive penny slots machine, jackpots are available to let you win more.

The probability of winning such jackpots is usually low. But like other online casino games, penny slots also pay well.

3- Online Casinos Do Have Penny Slots

Until many years ago, penny slots were only available physically. And most people still think that they are only land-based. However, online casinos do have penny slots, and more are to come in future online casinos. In most of them, they provide options whereby players can change the amount they wager per line. And when you adjust your option to about one cent, you are playing a penny slot game.

4- Volatility of slot machines affects your winning percentage.

Volatility in slot machines is the amount of time you can expect to win. This really affects low rollers that bank on high and flowing payouts. The higher the machine’s volatility, the lower your winning percentage. 

Facts and Fallacies You Probably Didn't Know About Penny Slots

The bad news is this; most penny slots machines do not provide any hint as regards to its volatility. But don’t fret, I was able to come up with some tips by putting the following into consideration;

The Jackpot: some slot machines provide jackpots while others don’t. However, the lower the progressive Jackpot, the lower it’s volatility.

High payout rate: fewer payouts means less volatility.

Less payout rate: the more, the less payout of a penny slot, the lower it’s volatility also.

Getting to know about penny slots volatility isn’t easy. But then, we can find our way through it by using the above guidelines. If you own small amounts and want to keep playing penny slots, I recommend putting this tip into action.

5- You Can Research Online Penny Slots Payback Easily

Most people have no knowledge of what payback percentage is and how to get information on them. This directly means they didn’t have the best chance to win in the first place.

Finding online penny slots payback is very easy because the gaming industries provide the same payout percentages for every casino they own. This isn’t the case for land-based penny slots since it’s possible for a particular casino to ask for a payback different from the ones being offered for the same games.

6- Penny Slots Offer Complimentary Items

The fact that by playing different casino games, you can get complimentary items is one of the thrilling things about gambling. But many players think penny slots do not offer bonuses since the term “penny” makes it look like it doesn’t involve high stakes. And only high stake games offer comps.

This is not true as we are not actually betting with one penny. Putting your bet size determines how high your comps will be. As in most casino games, if your bet size is small, you won’t get many complimentary items.  

Online casinos do not give off all they earn as complimentary items. They only calculate and hand back a certain amount putting the number of plays into consideration. To get high comps, you need to wager more. But as a middle-class player, you’ll also get your fair share.


If you can rule out the facts and fallacies of Penny slots, you’ll find out how easy and thrilling this game is. You’ll get to play on and on without getting disappointed. The biggest misconception you should clear is that you need just a penny to play. Don’t look forward to paying less than the stakes for other online games.

You need to prepare your mind to lose your stakes as with other games. But the good news is that you get to earn high payouts and complimentary items eventually to ease your loss if you are lucky. 

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