Penny slot machines are an incredibly attractive option mainly due to the fact that wagers only cost pennies making them quite affordable and therefore friendly to just about any budget. The word ‘penny’ is often synonymous with the word ‘free’ automatically making players feel as though such a wager is an extremely low risk. Likely, this is the reason why this type of slot machine is so popular. That said, the thought of something only costing a penny makes it easy to spend more than intended. Let’s have a closer look.
From the invention of the 1st mechanical slot over a century ago to the advent of computerized slot machines, the technology behind slots has evolved to modern day online slots that rely on algorithmic Random Number Generators (RNG). Video slots playable online from desktop or mobile device are the most recent addition to the slots category of casino games.
Modern day slot machines found in brick-and-mortar casinos are designed to take pennies, quarters and dollars. Online casinos offer similar options with minimum bets of 1p, 25p, 50p and £1 quite commonly seen. Penny slots offering a minimum bet of 1p often have adjustable paylines allowing players to choose from a much more flexible and affordable range of bet options. To select a minimum bet of 1p, players must activate only 1 payline. If that option is chosen, while the wager will be extremely low, you will essentially get what you pay for as there is only 1 way to win. Even if a slot allows players to select up to 25 paylines at once, a penny per line would affordably cost 25p per spin with all lines activated.
The word ‘penny’ can sound deceptively safe and risk-free. However, it is important to keep in mind that even if a wager only costs 1p, 5p or even 10p, consecutive wagers can be made with intervals lasting only seconds long. 100 spins can go by in minutes. Depending on a slot’s design and game speed options, it is certainly possible to spend money quickly. Always set a budget before starting a slot session and then stick to it.
Another thing to consider, particularly when playing Progressive Jackpot penny slots, is that some are designed to not award a Jackpot unless the maximum bet is wagered. Always read the game rules before you begin playing to be certain.
Mega Moolah is not only the Guinness world record holder for the largest Progressive Jackpot payout in the category of online slots, but it also allows its 4 Progressive Jackpots to be won off of any bet selection. In other words, a Jackpot can be won with a bet costing only pennies! In fact, the lucky player who won the record of £13.2 million wagered only a 25p bet which is incredible! The largest of the 4 Progressive Jackpots, the Mega Jackpot, starts at £1 million. This penny slot is easily one of the most popular online video slots ever created. It has an RTP of 94%, a low volatility and the chance to win a Jackpot off a minimum bet.
Mega Fortune is also a Guinness world record holder for the second-largest Progressive Jackpot payout in the amount of €17.8 million. It offers an RTP of 96,6% and the chance to win 1 of 3 Progressive Jackpots via a Wheel of Fortune Bonus Game.
Hell Boy is a Microgaming slot based off of popular Dark Horse Comics superhero. It offers an RTP of 95,5% and the chance to win up to 100,000 coins. A substantial coin prize can be won via the Underworld Bonus which can randomly activate even when only a minimum bet of 1p is selected.
Hugo is a Play’n GO slot based on the popular computer game character Hugo the troll. This slot has an RTP of 96,4% and the chance to activate either Free Spins or the Bonus Game even when the minimum bet of 1p (1 line active) is selected. Win up to 500x the bet in a single round.