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The first-ever slots were cheap to play. But they were not penny slots: back in 1891, you had to shove a whole nickel (or 5 cents) into your game to play.
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Rules of Lucky Penguins Slot. The slot has 5 reels and 20 paylines. To start the spins, you can use one of the following keys: The Info button opens the payout table. Once the prize combination appears, the Double Up button appears in the button’s place. It is used to start the risk game. In the game, a card lying face down appears on the screen.
Unfortunately for the purposes of this guide, penny slots is not a well-defined category. Most penny slot machines these days offer a good range of betting options with a defined top and bottom end. Actual penny slots – slots that it costs literally 1p to play – are a relative rarity, but many games fit the bill in that they are cheap to play, costing less than 10p to get a single spin.
In this guide, we’ll take a look at the history of slots. We’ll explain how betting on slots works, explaining volatility, the theoretical return to player, and odds. We’ll look at safe gambling – at all stakes – and why online penny slot machines might be the safest way for you to play slots. Ultimately, we’ll look at the penny slots style, and give you some examples of penny slot games titles.
Let’s get spinning!
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Penny Slots: The History of Slots
Slot machines are now shiny and sophisticated real or virtual machines, but they have a long lineage that goes back to some much simpler automation.
The first games were attempts to replicate the experience of playing cards. The game that Sittman and Pitt first made in Brooklyn, New York in 1891, worked by sticking playing cards onto revolving drums. In order to improve the house edge, the makers took out two of the 50 cards in a standard deck. A player shoved in that nickel, pulled a lever, the drums span, and if they stopped on a winning poker hand the player could march up to the proprietor of the shop or bar where he was playing and demand his prize. In order to increase the house edge, the makers took out two of the cards from a standard deck.
There was no mechanism for automatic pay-outs in these machines, so they had to be manned or watched in some way. Independently from this East Coast operation, over in San Francisco, a man called Charles Fey was coming up with a solution for that problem.
Cards are all unique and come up with a bewildering array of possible combinations. To work out – with the relatively simple technology of the late 19th century – what should be paid on a particular winning “hand” was impossible.
Charles Fey took the concept of creating sets of matching symbols to win a prize, but cut down the number of reels to three and replaced the unique cards with a set of symbols, some of which are still in use today.
Fey’s patriotic use of the Liberty Bell as the top-paying symbol gave the machine its name, while the lucky horseshoes, and familiar card suits (hearts, diamonds, and spades) gave generations of slot players the symbols they have to look out for. With just five winning combinations to pay out, it became possible to set up an automatic prize system, and machines could be left in the corner of a bar or shop quietly picking up cash. They were a sensation across the US, though Fey couldn’t profit from them because California’s gambling laws didn’t allow him to properly patent his inventions.
These machines were very simple, but they are recognisable, a 5-reel, 50 symbol slot game, and a simpler 3-reel game.
With a relative free-for-all on the intellectual property of these games, local inventors and entrepreneurs started to get in on the action, some of them also coining symbols and names that live on.
The laws of the United States were much more complicated than the games though, and gambling at the state and national level was not straight-forwardly legal.
That’s one reason why the explicit link to card games was cut with the new sets of symbols and fewer reels. Games could also get around the law by masquerading as vending machines, with an element of chance – I don’t know about you, but when I buy something from a machine, I love to not know if they’re going to give me what I pay for.
This led to games that offered food as a prize. It’s hard to keep a large stock of cheese sandwiches ready and waiting to be “paid out”, but chewing gum is long-lasting and portable, and as a relatively novel product it was also sought after. Fruits came to represent the flavours of the gums, and the bar symbol we still use was either a graphical representation of a pack of gum or a logo from the Bell-Fruit Gum Company.
These games were all single-stake operations. You put in a coin and took a chance. We would love to tell you when that changed, but no such information exists as far as we can find.
Certainly, in 1963 slots entered a new age of sophistication when Bally (who are still around) put out the first electromechanical slot.
In 1976 the link with machinery and actual spinning reels was broken when the Fortune Coin Co used a Sony TV screen to screen computer-generated images. This was the start of the age we are in now.
The story of the games since then is of increasing sophistication and the birth of internet gambling in the 1990s took the slot spinning into cyberspace.
Here, there is almost no limit on variables.
And yet, online video slots remain relatively true to the pattern that was set back in the 1880s or 90s.
Staking in Gambling
Stakes determine prizes in gambling.
That’s true in pretty much every gambling game. The link is less explicit in slot games than in older forms of gambling, but it is generally there, being broken only for special games and fixed or progressive jackpot games.
Gambling is a simple thing – with layer upon layer of potential complexity!
It is based on relatively infrequent or unlikely events.
In order to generate these events, a random series must be generated. In traditional gambling, this was done by using some form of equipment: a shuffled deck of cards, a coin flying through the air, a dice, a spinning roulette reel.
When it comes to online video slots, this sequence is now entirely virtual and uses a random number generator, a piece of software that spews out a series of random numbers. These numbers decide how the symbols on the “reels” will end their “spin”.
When slots were simple mechanical devices working out the odds was relatively simple. A machine with three reels and 10 different symbols repeated on each reel delivers odds on a match of 999/1.
A modern slot has many more possible combinations
You will struggle to find published odds for games. Presumably, this documentation does exist somewhere, and it would be interesting to examine if you can find it.
For now, the best guide we have to odds is the pay-table and the theoretical return to player.
The theoretical return to player is the amount that a game is expected to return to a player over its lifetime. It assumes particular behaviour from a player, so it is not an exact guide, but it’s the best we have.
Typically, the modern online video slot delivers a theoretical return to player of around 96% (these figures are governed by licensing and regulation, and must be between 75% and 99%). That means for every pound bet on the machine, the operator will expect to retain 4p.
As we know this we can take an educated guess at the odds from a paytable. The paytable shows you the pay-outs for each possible combination on the reels of the slot you’re playing. It’s always a good idea to take a look at this as you start playing – as well as the game and site rules.
As an example, we’ll use a very simple slot called Arcade by Wazdan, and take some liberties with an actual game operation to simplify the explanation. This is a classic slot with a single pay-line.
When staking £100 we see a paytable promising us a prize of £200 for a set of three cherries, or pineapples, or a pair of raspberries. And so it continues all the way up to the top prize of £40,000 delivered by scoring three Vegas symbols.
The total of possible prizes offered by this paytable is £156,000 on a £100 spin.
As the slot has a theoretical return to player of 96.62%, we should expect the slot to collect £161,457.26 before paying out every prize on that pay-table a single time.
That’s a total of 1,615 spins at £100 goes a pop.
Of course, in reality, the maths is much more complex than this. Those low prizes will be paid out many, many times more than the top prize.
But if we take the return as a rough guide to event frequency we can guess that the lowest prizes paying out a 2/1 prize are 200 times more likely to happen than the top prize that pays out 400 times your stake.
All this means for you is that penny slots will pay out much lower prizes: in this example, a penny stake would yield the lowest prize of 2p and a top prize of £4.
Theoretical return player interacts with the other measure of slot performance, volatility (or variance or variability) to deliver your experience. A game that has high volatility is more likely to deliver bigger wins but is likely to pay out less often. A game with low volatility is the other way around, with more frequent small prizes. Most games are rated as having medium volatility.
There is one exception to this rule and that is with fixed jackpot games and progressive jackpot games.
These are relatively rare in the penny slots style, but they do exist.
Fixed jackpot games have a prize, or more usually a set of ranked prizes, that exist as jackpots independent of staking. They are often awarded via a randomly triggered bonus game.
Progressive jackpots are prizes that are dependent on staking, but not on your stake. These games take a slice of every bet on a game and add it to a prize pot that is won via a jackpot game. Because we’re playing online games manufacturers can now link up thousands and thousands of iterations of a game and the stakes from many millions of spins in order to build up massive life-changing top prizes.
The most famous slot game in the world, Mega Moolah, which has created numerous millionaires and has twice broken the world record for top pay-outs is literally a penny slot, with betting from 1p upwards. That means you could win many millions of pounds from a 1p stake, though like most big progressive games, Mega Moolah makes it more likely that the jackpot game will be triggered when you stake the top amount.
Penny Slots and Safe Gambling
Safe gambling is an enormous subject. It covers internet security, hacking, identity theft, addiction, and much more.
You owe it to yourself to take safe gambling seriously.
You should only ever play at licensed, legal, quality sites – like the ones we recommend in our reviews.
And you should also make sure you’re on top of your internet security, using the latest versions of your browser, with properly updated anti-virus and other protective software.
It’s in the personal finance arena that we talk about safe gambling and penny slots though.
Gambling is potentially addictive. The only real “cure” for addiction in most accepted treatment models is complete abstinence. Gambling addiction can cause terrible damage in all areas of your life – you should take it seriously.
Most people can and do gamble perfectly safely, playing for fun, and enjoying their games.
And that is where penny slots may help you stay safe
We’ve covered some of the mechanics of slot games here: including that theoretical return to player of around 96%. This is baked into the algorithms that run online video slots. That means, that while the outcome of each spin is random, and you could win a lot of money the next time you press play, the reality for most gamblers is a small loss in the long term.
Accept that gambling is entertainment, not a means of making money, and you’ll be in a much healthier place with regards to your slot play. You pay for entertainment, so you should expect to pay for gambling.
The UK Gambling Commission has some good advice on gambling. Its 9-point guide to safe gambling includes this advice:
“Are you gambling to escape debt or as a way to make quick money? Think carefully about your motivations to gamble. Gambling shouldn’t be seen as the answer to improving your personal finances. If you have concerns about money, speak to a financial adviser or student support services.”
Playing for penny stakes is a short-cut to lower spending. If you have a realistic expectation of your returns you’ll know that you’re very unlikely to get rich betting 5p or 10p a spin, and that way you can just enjoy the games and take any wins as a bonus.
One of the ways the UK Gambling Commission suggests to gamble more safely is to set limits on your spending. You should certainly never gamble with money that you can’t afford to lose. If you set a low limit, then stick to the low-spending games, you’ll get much better value for money.
If you need help, you can contact a number of UK-based safe gambling organisations, or start by ringing the National Gambling Helpline on Freephone 0808 8020 133.
Penny Slot Games: The Style
Penny slots are a stake amount rather than a genre of slots, but they do tend to favour a certain style.
Online penny slot games are cheap and cheerful, and their design and play are likely to reflect that. A good way to find low-stakes games is to search for classic slots.
Classic slots are old-fashioned games that deliver a very pure gambling experience. They are more likely to have fewer reels, perhaps the old-standard 3-reels. And they are more likely to feature classic themes in their symbols and designs like fruits, bars, gems, and cards.
The gameplay is more likely to be simple too. There may well be bonus games, but you’re more likely to find a game that focuses on the base game and unlikely to find four levels of character-based three spins with different wilds in each version.
Penny Slots Online Examples
But penny slots online exist independent of style, and because modern online video slots are such supremely adaptable machines a “penny slot” might as well be described as a choice by the player.
Here are just a few examples that you can play for small stakes, check them out:
- Mega Moolah: life-changing sums on a machine that can actually be played for 1p.
- Lucky Leprechaun: if you’ve got 2p you can spin the reels of this game, a classic in the very popular Lucky-Irish theme.
- Starburst: the most popular game in the UK for a good long stretch, Starburst has classic design given a great sci-fi sheen by NetEnt. Staking from 1p.
- 50 Dragons: Asian-theming is also very classic, and you can play this very sleek-looking slot from Aristocrat for just 1p.
- Fishin’ Frenzy: this massively popular game from giants Reel Time Gaming has inspired a whole series of titles, and you can cast your bets from just 1p.
That’s just five of our favourite examples. Look for penny slots online at your favourite online casino site because they’re a great option for financial reasons, but they’re no bargain-basement option these days, offering all the quality you’d expect from a game that costs £5 a spin.
Penny slots are simply defined as slot machines that can be played at 1 cent per line although have evolved to often require a minimum number of lines that must be played per spin. Instead of costing the minimum you’d expect, as we would have seen in the past, players will be wagering 25c, 40c or 50c per spin.
How do penny slots work?
Penny slots work almost exactly as you’d imagine – you pop a penny into the slot, pull the lever (or press the button) and the reels will spin. Make the correct combination of symbols and you’ll win a prize – simple right?
But go into any casino or play any online slot and it won’t take long to realize that it’s far from the truth. In the majority of casinos, you’ll find that you can’t get away with 1c in the penny slot section, shocking, I know.
Instead, you’ll find yourself having to wager 50 or 100 credits on the pennies so you’re still betting a dollar a spin. Sneaky.
The payline problem
The confusion with penny slots comes with the paylines and how they have evolved from the very first slots.
Where once there would be a single payline in which three matching symbols across the reels would allow for a prize, we now see several different paylines available in the slot.
From zigzags to trapeziums, there’s plenty of different paylines that you’ll be able to win with, all of which can be found in the paytable alongside how much you’ll win by bagging them.
So instead of a single simple play, you’ll be offered to wager on all available paylines, often with multiple credits on each line. A typical slot machine nowadays will include between 25 and 30 paylines per slot and if you’re wanting to win the biggest jackpots, you’re going to have to wager on the lot of them.
The paylines dictate the different prizes, bonuses, free spins and multipliers and must span the length of the reels so it’s vital to the game that they’re up to scratch, so it’s one of the first areas that designers consider when building a new game.
Depending on where you’re playing and what the machine allows, you might be able to choose the number of paylines that you’re wagering per spin (free slots) or be confined to the predefined setting on the machine (fixed). Regardless, it’s important to go ahead and check what you’re actually betting…
What you’re actually betting
So we now know that you’re not actually going to be betting 1c at a time, but really, why would you?
For a casino, taking 1c bets is a terrible business model and for a player, that’s not exactly going to be super stimulating. It might be a blessing in disguise that the limits for the penny slots are a little higher – although a name change wouldn’t go amiss.
Typically, you’ll be betting on every line for at least a single credit, instead of a single payline for a dollar like you may expect. For example, if you’re betting 5 credits a line on 20 lines in a 5 reel slot you’ll be wagering 100 credits (or $1.00) per spin.
You’re not betting a penny, but it’s much more interesting.
Not all slots require to you bet the maximum. Brick and mortar casinos might be difficult when it comes to finding cheaper slots, but head online and you’ll see plenty of minimum spins sitting at 25 (for 5 cents) so you can pop a penny on each payline without worry.
Shop around and you’ll have no problem finding slots with low minimum wagers.
Differences between penny slots and free slots
When it comes to defining free slot machines, you’ll get mixed messages depending on who you ask, simply because it can mean one of two things.
Free to play slots
The first definition is the one that most of us think of when something’s free – as in they’re free to play slot machines. That means that there’s no real money on the line and, more than likely, no real money to win.
Granted there’s the odd exception to the rule with free slot spins available when playing penny stocks as well as being available in several new player bonuses – but you’ll rarely get something for nothing.
You can play free slots all over the web and with a variety of applications for mobile and tablet.
Free vs. fixed slots
Not the free slot you were thinking? The other form can be identified with its ability to choose the number of paylines that you’d like to run with during a game – the number of paylines chosen is ‘free’.
The opposite of this is where the number of paylines is fixed, meaning that you can’t change the number and must play the listed paylines.
When playing in most brick-and-mortar casinos, you’ll find the majority of penny slots take the fixed approach, letting you wager $1, $2 or $3 etc. at a time, depending on the machine.
However, when playing online you’re often free to set the exact number of paylines that you’d like for the spins that follow.
Unfortunately, you do have to pay for these though, although you’ll be getting much more control over your wagering.
Penny slots mistakes
Penny slots may seem pretty simple to understand and play, it’s one of the biggest reasons that they’re so popular, but that doesn’t mean that the machines don’t see their fair share of mistakes each and every day.
By making sure that you’re on top of the information, familiar with the terms and conditions and informed on strategy, you can make sure you’re not making any rookie mistakes when playing penny slots.
Ignoring bankroll management
By far the biggest mistake that we see with players on the penny slots is the total neglect of bankroll management during play.
They’re called ‘penny’ slots for a reason and it’s not because of their low-cost, low-risk nature, but as a marketing technique to make players think that they’re barely wagering.
If you’re going to fall for it and keep on putting pennies into the machine, that’s mistake number 1.
Instead of ignoring how much you’re putting into the machines you should manage your bankroll to know when enough is enough.
By taking out and setting aside a certain amount of money purely for gambling you can be sure that you’re not delving into your funds that are needed for more important things.
You can use your gambling money on rent, but don’t use your rent money for gambling.
Failing to find the slots’ return to player (RTP)
The slots return to player (RTP) is the figure telling you, the player, how much of a percentage you should expect back in the long run for each wager.
Of course, the figure you’ll find is an average so you won’t be bang on the money each time, but it’s a good ballpark figure to know before taking a seat at the slots.
You should look for those with the highest RTP (100% is the maximum, but you’ll never find one with the value) for the best returns whilst you’re playing.
If you’re going to gamble, you might as well do it with the best odds, right?
Only playing the big-time progressive jackpots
With the big-time progressive jackpots showing the biggest rewards, it’s no surprise that it’s always tempting to get involved with the progressive jackpots.
Only play these though and that’s another big mistake of the penny slots if you’re in it for the long run that is anyway. The jackpot that you’re eyeing up to win comes from the players, just like you, that are chasing big money.
The more that play, the more money that goes in, the more players lose for just one lucky player to win big.
If you’re playing for the smaller jackpots you’ll be in a much better standing at the end of the day, providing that nobody wins the big one at the end.
Not betting the maximum
If you’re not checking out the terms and conditions before playing, you might stand to be leaving money on the table if you’re lucky enough to bag a jackpot.
Some casinos, both brick-and-mortar and online, have requirements making grand prizes unavailable unless you’re betting the maximum on the spin you win with, so it’s important to always bet the maximum when chasing the big prizes.
There’s nothing worse than thinking you’ve bagged a big pot of cash only to have your success pulled away from the limit you’ve set yourself.
It may sound backward, but the odds of winning stay the same, it’s just the numbers that sit a little bigger.
Failing to know when enough is enough
Perhaps the biggest problem that comes with playing penny stocks is their addictive nature that prevents players from being able to stop and recognize when enough is enough.
It’s hardly a surprise that so many struggle to put the pennies down, especially once you consider the amount of time and effort that goes into developing the slot machine to have that exact effect.
Everything from the way it feels, the way it looks and the way it sounds is not an accident, it’s all precisely engineered to keep the mind focused on spinning the reels.
It’s more vital than ever with the popularity in online slots to know when enough is enough and when to head home or turn off your smartphone for the night. There’s no reason not to stop before your bankroll does – just make sure that you’re keeping it in mind when playing.
Can you win a lot of money on penny slots
One of the questions we hear all the time when it comes to penny slots is whether or not you can win a lot of money with them and the simple answer? Yes.
Plenty of people have won big when playing penny slots with countless stories from friends, family and around the web (including numerous on Reddit) all telling tales of big wins from minimal bets in the casino.
Some penny slots are linked to the huge progressive jackpots that often get the better of our temptations (and our bankroll) that boast truly lucrative prizes for those willing to play and to win.
With grand prizes in tens or hundreds of thousands, it’s easy to understand why people love to play to the penny slots.
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But don’t let this give you tunnel vision, as previously mentioned these jackpots are usually restricted to those wagering the maximum amount on each spin so it’s important to check out the rules before pulling the lever. You don’t want to miss out on a life-changing prize because you jumped the gun.
Does Vegas have penny slots?
If you’re looking to play penny slots in a brick-and-mortar casino you won’t find anywhere better than the fabulous Las Vegas strip to hedge your bets.
Every single casino throughout vegas has penny slots, in fact, you’ll probably have a harder time avoiding them than you would be finding a place to play.
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In a typical casino, the idea is to build a gaming floor that draws as much revenue from players as possible with the use of games, entertainment, and hospitality and there’s nothing quite like the penny slot for maximizing revenue.
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The average spin of the reels on the penny slots takes as little as 6 seconds, meaning that each player is running through 10 spins per minute. If we say that each wager is a respectable 50c, you’re looking at $300 per hour that players are sinking into the machine.
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Granted that there are wins to be taken into account throughout the game, perhaps at 95% payout, but when you consider that there are 1000+ slots available to run 24 hours per day in most casinos, it soon adds up. There’s no wonder that there are so many slots throughout Vegas…