Are Dollar Slots Better Than Penny Slots?
Penny slots are known for their affordable bets. As their name suggests, penny slots only charge $0.01 per payline. This makes them very popular among gamblers who count their money. If you want to play for real money but your budget is scarce, penny slots will become a great solution. With them, you get a chance to make profits without spending a fortune!
Advantages Of Penny Slots
The key advantage of small-denomination slots has to do with low minimum bets. If the size of your bankroll leaves much to be desired, there is a way out! Even with little money at your disposal, you’ll still be able to make a few dozens (or even hundreds) of wagers.
Penny bets are an ideal solution for trying out a new slot. Go ahead and make a few bets. Even if you don’t like the game, you won’t regret wasting a small fortune on it! Penny slots minimize your spending while allowing you to enjoy gambling full-scale! You can also use penny slots for testing strategies.
Penny Slots vs. Dollar Slots
The main difference between penny and dollar slots has to do with the size of winnings. Naturally, a small bet won’t bring you a big payout, even if you land the highest-paying combo. Let’s take an example to clear things up.
Suppose, you’re playing a penny slot and make a $0.01 bet. If you hit a x1000 multiplier, you’ll get paid $10. Not much, huh?
If you played a dollar slot and your initial bet was $1, the same multiplier would generate a $1,000 payout. The difference speaks for itself!
Here is another important distinction. Penny slot machines tend to have a lower RTP than their regular counterparts. This is because small-denomination slots are less profitable for a casino. To make up for missed profits, casinos lower RTP percentage. For players, this means less frequent winnings or lower multipliers.
For example, the player wagers $1 per spin and makes 300 spins per hour. If the slot has a 90% RTP percentage, the player will get back $270. The remaining $30 will go to the casino.
In the same player played a penny slot, the casino would only earn $3. Now you can see why the only way for the casino to boost its profits is to lower RTP.
Penny slots usually don’t have progressive jackpots. If your ambition is to grab a life-changing money prize, keep away from small-denomination titles. If you’re dreaming of big wins, you’ll have to forget about 1 cent bets!
Penny slots are characterized by plenty of paylines. This is a smart trick that encourages players to activate more paylines - and therefore increase their total bet. Instead of the familiar paylines, you may come across slots with 243 ways to win, where all the pay ways are always active by default. At the same time, dollar slots tend to have fewer paylines.
When playing dollar slots, each losing streak can take a serious toll on your bankroll. With penny slots, you don’t have to worry about big losses.
Things To Remember When Playing Penny Slots
Don’t let the whole small-bets-thing put you off guard. When playing penny slots, you’ll be experiencing losses like in any other game. Your bankroll will be melting slowly without you even noticing! As a result, you risk draining away a big part of your budget. To avoid this, be sure to follow the basic money management rules. Set a stop loss and stop win, make same-size bets, and keep an eye on your bankroll.