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In general, penny slots are played in the same way as regular slots. Any money strategy that you apply to regular slots can be applied to playing penny slots online. That said, there are a few things to consider when playing these games.
Remember money management
Pay attention to RTP
Play all paylines
Know when to stop
Remember bankroll management
In Hawkplay if you are playing penny slots because they are cheap. We get it. But that doesn’t mean you need to abandon your money management plan. You may only be betting $0.25 per spin, but a few dozen spins of bad luck could cause your money to drop straight down.
In short, remember the old adage: watch the pennies. Bet on your game and stick to it. Don’t try to raise the stakes after a win, or (worse) chase a loss. Set aside a portion of your money for playing games (e.g. $25 for 100 spins) and stick to the plan.
Pay attention to the RTP
In Hawkplay while penny slots offer great entertainment value, depending on the game’s RTP, you may be better off by playing fewer spins on higher priced slots. The RTP (Return to Player) of a slot machine is a measure of how much a player can expect to lose when playing a game for a long period of time.
A penny slot machine with a low RTP (less than 90%) may be worse than a high risk slot machine with a higher RTP. Of course, you need more money to play higher value slots in the same amount of time. Therefore, you should consider whether you are more concerned about the time spent on the game entertainment or the impact on your money.
Play all the paylines
For some people, this advice may run counter to the way you play penny slots, but it is advice well worth taking. Because some penny slots allow you to choose how many paylines you play, it can be tempting to play fewer paylines in order to get smaller bets.
This will reduce your bets, but it will also reduce your chances of winning. If a slot machine has 20 paylines, this means that there are 20 patterns that can be dropped into it to bring you a payoff. If you play only one of the paylines, there are 19 patterns that will only lose your bet.
In addition, many progressive jackpot slots can increase the chances of winning the jackpot if the player bets more. By reducing the number of paylines you play, you can effectively reduce your RTP as well as your principal.
PENNY SLOT ODDS
We have already mentioned the concept of RTP (Return to Player) in slots. This number, expressed as a percentage, is the determining factor of your long term chances of winning. Keep in mind that RTP does not tell you about the volatility of the game, i.e. the frequency and size of payouts.
In short, RTP is the amount the machine returns after a statistically significant sample (usually millions) of spins. It gives you an average view of the machine’s value. Online slots with an RTP of 97.23% will return an average of $97.23 for every $100 wagered. This is true whether it’s a million spins for $100 or 100 million spins for $1 – although some slots will adjust the RTP based on the current bet.
On average, you’ll find that penny slots have a lower RTP than most online slots. Typically, online slots with an RTP of 96% or lower are considered low. RTPs below 90% are very low. Most penny slots have an RTP of about 95%, which is not shockingly low, but does put them at the lower end of the slot spectrum.
How much can you win playing penny slots?
While the RTP of penny slots may be low, the maximum potential winnings are not necessarily lower than other slots. For example, Age of the Gods has a multi-level progressive jackpot that can be won on any spin. The game has an RTP of 95.2%, which is at the low end of the average for online slots.
Usually in jackpot slots, the lower your bets, the less chance you have of winning the jackpot. This is true in the Age of Gods, but you can still win the jackpot with a minimum bet of $0.20. A lower RTP in penny slot games doesn’t necessarily mean you can’t still win big.