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Penny Slots Strategy

One of the biggest games among casual slots players is penny slots. As the name implies, penny slots enable players to make spins for as little as one penny each time. And what's really cool about these games is that people have even won million dollar jackpots while playing penny slots games. For instance, somebody at the Four Winds Hartford Casino recently hit a $1.53 million jackpot while playing a Monopoly penny slots games. Of course, before you can win huge jackpots like this, it's very important to know some penny slots strategy first. 

That being said, one of the most important things to understand in the way of penny slots strategy is that you really have to pay attention to the paytables before putting any money into the games. For example, if you are expecting to win a million dollar jackpot, but only play for a penny each spin, these turns won't qualify for the jackpot prize. After all, this is somewhat of a trick by casinos because they don't give players a shot at the jackpot if they don't make maximum spins. So the name can be quite misleading.

Another thing that you need to understand with penny slots is that you really need to set a bankroll for these games. For example, if the qualifying spin for the penny slots jackpot is $1.00, the game offers a 92% payout rate (8% loss rate), and you want to play for five hours, you're going to need at least $100 to survive variance if you make 100 spins per hour.

To come up with this number, you multiply the following numbers from the previous scenario: $1 x 100 spins x 5 hours = $500 wagered. Then you multiply this number by your expected loss percentage: $500 x 0.08 = $40 in expected losses. Seeing as how there's plenty of variance involved in slots, you should have a bankroll of at least $100 to survive any big downswings.

As you can see, there's quite a bit of strategy involved in penny slots, and you shouldn't take the game so casually if you want to win big. However, those who are just waiting on somebody to finish up on a casino table game can play for a penny each spin just to pass the time. Remember though that if you're a casual slots player, you have to make sure the game's set at $0.01.