Would you believe that it’s still possible to find online casino games that accept bets starting at just 1p? In fact, there are several games of chance that allow players to wager as little as a penny. These include Penny Bingo Games, and the subject of today’s post – Penny Slots. The unprecedented popularity of penny slot games is the main reason that game providers have retained this game with wagers as low as 1 penny. We are going to pull back the curtains on penny slots and reveal all you need to know. Let’s get started, shall we!

What is a Penny Slot Machine Game?

Penny slots games are chance-based slot machine games which accept wagers as low as 1p. As a casual player, or a low roller, penny slot machine games are ideal since they’re affordable and available. With penny slots, you don’t have to worry too much about game complexity, since they’re simple slots. These online casino games are universally enjoyed by players as standalone slots, or as filler games in between online blackjack, online baccarat, or online roulette sessions.

So, what is a penny slot machine game? Well, it’s one of thousands of online casino games readily available to players across the UK. Whether the economy is booming or busting, penny slots have retained their appeal as the must-play online casino attractions. All across commonwealth countries, penny slots games have gained tremendous appeal among players. From South Africa to Canada, New Zealand to Australia, the EU and especially here in the UK too. Software providers and online casino operators alike are scrambling to release penny slots games to players.

Penny slots games come in many different themed options, including ancient Egyptian slots, mythical slots, classic slots, Asian themed slots, celebrity slots, adventure-laden slots, and even rock star slots too. There is no shortage of options with penny slot machine games. Believe it or not, there are hundreds, possibly even thousands of penny slots games available to players. Despite their differences, there is one thing all of these games have in common – wagers begin from as little as one penny.

There are different types of slots games such as traditional penny slots and progressive penny slots. When the progressive jackpot feature is evident, a percentage of every real-money wager contributes towards the jackpot. Popular examples of progressive jackpot penny slots games include the 88 Fortunes slot game by Shuffle Master, and the Burning Hot series of slots by EGT (Euro Games Technology).

Does It Really Cost Just 1p to Play a Penny Slot Machine Game?

The much-fabled penny slots games retain a unique status among players nowadays. The name – penny slots – is a little misleading, however. On the one hand, it is true – the minimum coin denomination for penny slots games is a penny. But, there are rules in place governing how many pennies are required with these games.

Truth be told, you will be required to wager a lot more than one penny to spin a penny slot machine game. That’s because the total bet value in these games is the product of the coin value per line multiplied by the number of lines + the number of coins per line.

Let’s assume that you’re playing a 50 payline penny slot machine game. If the game requires just 1 penny per payline, then the total cost per spin will be £0.50. But what happens if you have the option to play 5 coins per payline and it’s a 50 payline slot machine game? Then, the calculation is a little different. You would be wagering £0.05 per line, with 50 lines in play. That a grand total of £2.50 per spin.

There are some penny slots games with hundreds of paylines in play. In the absence of a quick calculation, you could be spending just as much on penny slots games as you might on a traditional video slots game. For this reason, it’s important to carefully select the specific penny slots game that you’re interested in playing. Check out the volatility, then set a budget and stick to it. This approach bodes well for all forms of online slot machine play. Plus, it’s an incredibly effective bankroll management strategy too.

How Much Are Players Betting on Penny Slots Games?

In 2018, the State of Nevada – the Silver State – played host to 54,000+ penny slots games, and 70,000+ multi-denominational slot machine games. In the same year, the NGCB (Nevada Gaming Control Board) announced slots wagers of $6.3 billion. Some 50% of GGR (Gross Gambling Revenue) was generated by penny slots games. The rest came via multi-denominational slots.

Fast forward to 2020, slot machines in Nevada accounted for $528.5 million in revenues, with $7.52 billion bet on slots. Multi-denomination slots generated $237.8 million, from $4.30 billion worth of bets on slot machines. Penny slots generated $224.4 million in revenue, from stakes of $2.24 billion. The balance of revenues came from table games with stakes of approximately $1.90 billion

Here in the UK, slot machine games make up 70% of all online gaming revenues, with gross gambling revenue amounting to billions of pounds. This, despite a series of responsible gaming codes of conduct that were put into place by the UKGC (United Kingdom Gambling Commission) in 2021. Clearly penny slots games are wildly popular among players, and will continue to be well into the foreseeable future.

Is there Some Proprietary In-Game Mechanic with Penny Slots? 

All online slot machine games are governed by probability, penny slots too. Probability refers to the likelihood that an outcome will occur. The greater the probability of an event occurring, the higher the percentage. Probabilities are expressed in the form of an RTP. This refers to the return to player percentage. It is an intractable component of all gambling games.

While the in-game mechanics such as the technology, reels, symbols, and potential combinations of symbols will vary from one game to the next, all slots feature random outcomes, multiple symbols, and multiple reels. As a consequence, every spin of a penny slots game should theoretically yield a random outcome. This is figured into the house edge which is 100% minus the RTP. The greater the house edge, the lower the return to player, and vice versa.

For players, the most important point to remember is the effect that RNGs have on game outcomes. Random number generators are computerised programs that continually generate hundreds or thousands of unique sequences of outcomes every second. It’s impossible for a player to predetermine the precise sequence of combinations that will result when the play button is depressed. This is true for penny slots, and it’s true for all online casino games with random outcomes. The algorithm is designed to mimic chance in nature.

Players can rest assured that the proprietary in-game technology and RNGs are independently tested and audited for fairness, transparency, and reliability. These tests are conducted by independent regulatory authorities such as TST (Technical Systems Testing), eCOGRA Safe & Fair, and various licensed authorities. The technology is secure, courtesy of bank-level encryption protocols to prevent tampering, fraud, or manipulation of data.

Useful Ways to Boost Your Chances with Penny Slots Games

  • Set a Budget: You’ve heard it before, but it’s worth repeating. Always set a budget for all gambling games. With a budget, you determine how much you’re prepared to spend on each penny slots game. Next, you divide the cost per spin into your budget to determine how many spins you have for your gambling sessions. If you have exhausted your gambling budget, walk away. Never chase your losses. Never borrow money to gamble on penny slots. A firm budget is a personal guarantee that your gambling activity never gets out of control.
  • Understand the Rules: It may appear feeble, but it’s really important to take a quick peek at the rules of play for your chosen penny slots game. Rules tell you important information such as what combinations of symbols are needed for winning. But the rules also tell you how many coins must be wagered, and how many paylines must be in play on every spin. It’s easy to get sidetracked with a low-cost penny slot game that doesn’t expressly state that 5 coins must be played on 200 lines.
  • Use Bonuses & Promotional Offers: Whether you are a new player or a returning player to the online casino arena, it’s always a good idea to make use of bonuses and promotional offers. These can be especially handy with penny slots games. There are specific types of bonuses and promotional offers which are really enticing to players such as no deposit bonuses, match deposit bonuses, free spins bonuses, and free play vouchers. A caveat is in order: Check the terms and conditions vis-a-vis wagering requirements before accepting bonuses and promotional offers.
  • Be wary of token payouts: Many of us are blinded by what has come to be known as ‘token payouts’. These payouts are small and insignificant, and designed to keep us playing even though we are losing in the broader scheme of things. Test the volatility/variance of a slot machine game in demo mode first before you play for real money. If you like the frequency of payouts, and the size of potential payouts, then you can choose to switch to real money play.
  • Assess Volatility with Free Penny Slots: As alluded to above, volatility/variance refers to the fluctuations in winning potential that you can expect with a slot machine game. If you are playing a high volatile slot machine game, you are going to burn through your penny slots bankroll much quicker. At the same time, infrequent wins could be common, but the size of those wins could be substantial.

Summary on How to Play Penny Slots Games

Penny slots games are similar to regular slots in style and structure. They include spinning reels, symbols, and randomly generated outcomes. Always select a penny slot game with a high RTP (Return to Player) percentage. The higher the RTP, the more favourable the penny slot game. Note that the RTP is the flipside of the house edge.

A high RTP has a low house edge, and a low RTP has a high house edge. Next, decide whether you enjoy high variance or low variance penny slots games. With high variance, expect whipsaw activity with your payouts. You’re more likely to burn through your bankroll quickly with volatile games. Low variance games are the opposite. While your bankroll may last longer, the size of the potential wins will be smaller.

Always play penny slot games in demo mode before you play for real money. That way, you get to test the games before risking any of your bankroll. Your budget is perhaps the most important component of your gambling strategy. Set a limit for each spin, and determine how many spins you can enjoy during your gambling session. Naturally, it’s best to maximise your time playing penny slots, since every outcome is determined by chance.

Remember, even though these are called penny slots games, you’re going to be spending a lot more than a penny on every spin. Take a look at the paytable of every penny slots game that you play. This indicates how much you can expect to spend on every slots spin. If perchance you have an opportunity to grab a generous bonus with easy to fulfil play through requirements, do so. A bonus is a great way to boost your bankroll in anticipation of real money gaming.