I can't quote a precise number on the 'odds' when playing penny slots, but the staff will tell you that the odds are much better on the 25c, 50c, and $1 slots. You're simply not going to win on those penny slots unless you 'bet max'. And when you bet the max, you're doing 40 lines times 5 or times 10 (as much as $4 or $5 when betting the max).
Again, many gamblers play penny slot machines under the assumption that they’re dealing with inexpensive games. What they don’t realize, though, is that these slots can take their money just asfast as any others.
A penny slot is named for the fact that it only charges you $0.01 per line. However, they usually require you to play a set number of lines.
Land-based casinos normally make you play anywhere from 50 to 300 lines per spin. You’re therefore wagering between $0.50 and $3 on each round.
Of course, you may not think this sounds so bad when considering that you have 50-300 chances to win. But herein lies another problem in that the lines have low odds of hitting.
Every penny slot differs in terms of the hit frequency per line. However, you can almost always guarantee that you have very low odds of winning on any given line.
Sometimes, you’ll spin the reels on a 300-line slot and wind up with nothing. You’ve gone zero for 300 in this particular spin.
Considering the low win frequency of the average penny game, many gamblers quickly burn through their bankroll on these slots.
What Are The Chances Of Winning Penny Slots
Newer players may even think that they’ve been robbed when their funds quickly vanish. The same gamblers are very unlikely to sit down to a slotmachine anytime in the near future.