1. Penny Jackpot Winners 2020
2. Old School Penny Slot Winners
3. Youtube Penny Slot Winners
4. Big Penny Slot Winners
5. Penny Slot Wins

Ask any retiree who visits Las Vegas regularly about their favorite casino game, and you’ll invariably hear about the fabled penny slots.

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These slot machines take their name from their low coin denomination, ditching the nickels and quarters typically wagered on each spin for a single penny. Or so the story goes anyhow…

In reality, the advent of payline-based slot gameplay ensures you’ll almost always be playing for more than a penny per spin. That’s because you need to pay one penny for each payline in play, so a standard 30-payline machine would charge $0.30 each time you let the reels fly. Despite this deceptive misnomer, however, the penny slots reign supreme in Sin City.

And that discrepancy occurred even though Nevada is home to far less penny slots (54,754 machines) than multi-denominational games (70,658 machines).

Indeed, just like your grandparents have reported, the penny slots are by far the most popular game on any casino floor. A major casino might spread a dozen blackjack tables in the pit, but the penny slot parlor will be chocked full with hundreds of machines from dozens of manufacturers. And when you run the numbers, it’s easy to see why.

That equates to an average expected loss of between $0.36 and $0.96 per hour, amounts which won’t threaten to bust your bankroll anytime soon. But when you up the stakes to $1 per spin, those 300 to 800 spins per hour can cost between $24 and $64 every 60 minutes.

With these figures fresh in your mind, it’s easy to see why so many players are flocking to the penny slots – especially folks working with a limited bankroll. When you only have a small stake to gamble with, the ability to play – and hopefully win – for a few pennies at a time is invaluable.

Nobody likes to lose, but there’s something about blowing through a few hundred bucks in a matter of minutes that stings just a little bit more. By sticking to the penny slots, casual players can limit their losses, all while chasing that elusive jackpot dream.

The casinos bank on casual players ignoring this fact while focusing on the inexpensive cost of entry. And sure enough, as the NGCB data mentioned earlier makes clear, most players don’t bother thinking about the nuances of penny slot play.

If you’re a slot player nursing a smaller-sized bankroll who is searching for ways to improve their penny ante action, look no further. The guide below will cover four essential tips and tricks for successfully navigating the world of penny slots.

You’ll learn why the old maxim about always betting the max doesn’t apply, the value to be gained by leaving tourist hotspots behind, the modern systems casinos use to deploy their machines, the importance of payback and hold percentages, and how to avoid the most common myths and misconceptions about slot gameplay. When its all said and done, this page should leave you better prepared to maximize your limited bankroll while minimizing your liabilities and losses.

The first strategy tip most slot players learn offers the following advice – always bet the maximum number of paylines and coins.

On a typical quarter slot, the machine offers anywhere between 1 and 5 coins per spin. That equates to $0.25 for minimum bettors, and $1.25 for folks playing the maximum.

And on a quarter machine which includes bonus rounds, free spin rewards, and a progressive jackpot, that strategy makes perfect sense. After all, most games are designed to provide those perks only if the player has bet the max, so playing for anything less removes much of the game’s inherent value.

As the old saying goes, “why play for a progressive jackpot you can’t even win?” But for penny slot enthusiasts, that bit of wisdom can be tossed out the window.

For one thing, these games usually ditch the massive progressive jackpots for fixed awards – and these can be won at any wagering level.

Secondly, even the more modern penny slots usually eschew in-game bonuses and side games for standard spinning. That is to say, you’ll be competing for the game’s primary pay table prizes, rather than a chance to spin the wheel, play memory games, or earn free spins.

Jean Scott – a veteran casino player and author of the popular “Frugal Gambler” series of strategy books – captured this sentiment perfectly in a blog post for the Las Vegas Advisor:

“Now I well know the problem with slots. The negative EV (the house edge) will eventually put players in the loser category and sometimes very quickly. The fun factor can disappear very quickly if you are losing more money than you can afford.

Players with small bankrolls know that they need to play minimum bets so they can extend their fun time.

Hit those buttons with higher level bets and, yes, your bonuses may be more frequent and jackpots bigger, but you will very likely go broke before you can gain this advantage!”

And using a simple table devised by John Grochowski – a longtime professional gambler and strategy writer – you can see exactly how upping the ante increases your bankroll requirements:

This table is especially informative, because it shows just how differently maximum stake players must approach penny slots. When you’re working with a smaller bankroll than most, $125 is probably a sensible amount at which to limit your losses. Thankfully, that’s the exact amount you’d need to play a 50 payline game for one penny per line. But if you found the same machine and decide to bet the max with five pennies per line, you’d need to bring a whopping $625 with you to survive three hours of action.

Unless you’re stuck on the idea of playing for progressive jackpots, the penny slots simply don’t require a maximum bet to have fun – and hopefully, collect a steady stream of smaller payouts while you do.

This piece of advice is counterintuitive to most recreational players, especially those who haven’t yet experienced the sights and sounds of famous Las Vegas Strip.

But while The Strip can be quite the entertaining experience for tourists, gamblers are preyed upon like sheep by the wolf-like casinos.

Take a look at the data below, which was compiled by the NGCB as part of the regulator’s annual statewide slot machine survey:

Las Vegas Slot Machine Payback Percentages by Location

1¢ Slot Machines

• The Strip – 88.45 percent
• Downtown – 88.66 percent
• Boulder Strip – 90.42 percent
• N. Las Vegas – 90.71 percent

5¢ Slot Machines

• The Strip – 91.84 percent
• Downtown – 92.08 percent
• Boulder Strip – 95.73 percent
• N. Las Vegas – 95.38 percent

25¢ Slot Machines

• The Strip – 90.59 percent
• Downtown – 94.48 percent
• Boulder Strip – 96.39 percent
• N. Las Vegas – 96.58 percent

No matter which slot games you prefer, playing on The Strip inherently increases the odds against you. The percentage figure listed next to each location reflects the average payback rate – also known as the return to player (RTP) rate – offered on average by all slot machines in that area.

And as you can see, playing on The Strip always provides players with the worst possible payback rates. As a penny slot specialist, you’ll be up against an 88.45 percent payback rate while playing on The Strip. That equates to a house edge of 11.55 percent, making penny machines in the heart of Sin City a moneymaking monster for the casinos.

Penny Jackpot Winners 2020

But take your action to the Boulder Strip or North Las Vegas, and that payback rate bumps up all the way over 90 percent. That may not seem like all that much of an improvement, but when you factor in the rapid pace of play found on slot games, padding your expected return by a full 2 percentage points is a massive improvement.

And it doesn’t matter if you’re playing true penny slots, or the nickel and quarter variety, as the pattern holds true across the board.

Another benefit of playing off the beaten path is the discounts and perks off-Strip casinos tend to lavish on their players. For the big boys like MGM Resorts and Caesars Entertainment – two casino conglomerates that control almost all properties on The Strip – enormous profits are practically ensured. They have a steady stream of tourists walking in the doors, so these venues can offer lower paying games and skimp out on the comps and perks.

But as Lucas Peterson – author of the “Frugal Traveler” column in the New York Times – recently discovered, venturing outside of the tourist traps offers a vastly different experience. Peterson visited the tiny Ellis Island Casino, located just east of Las Vegas Boulevard on Flamingo Road.

While the Ellis Island may lack the amenities and ambiance of a Strip establishment, this joint sure does know how to treat its customers.

Here’s how Peterson described his experience playing penny slots at Ellis Island:

“All casinos have rewards programs. You sign up, get a little card with a magnetic strip, and as you spend money you collect coupons for freebies and discounts.

At Ellis Island, they’ll give you that cheap steak dinner (normally $12.99) if you play just $5 worth of slots. But isn’t that just breaking even?

Well, in addition to it just being a little mindless Vegas fun, you can push it further: If you play $10 worth of slots instead of $5, not only do you get that discount on the steak dinner, Ellis Island also rewards you with bonus play money – a random amount between $10 and $500.”

In his case, Peterson’s initial $10 play on the penny machines produced a $66 free-play reward. He used that to play for a little while longer, cashed out for $30 profit, all while enjoying a free steak dinner on the side.

In his words, the casino paid him to play (and win), while throwing in a comped meal to boot.

You just won’t find customer appreciation like that on The Strip, which is why penny slot players on a lower bankroll should always get out of dodge to explore Las Vegas’ outlying areas.

Spend enough time around the slot parlor and you’ll inevitably hear players whispering about “loose” machines.

While the concept has faded into the realm of myth in the modern age, the notion that some slots are programmed to be loose – paying out more winners more often than the baseline – used to be based somewhat in reality.

Back in the day, when the average casino only carried a few hundred slot machines rather than a few thousand, casino managers could carefully tailor the arrangement of their games. No, they couldn’t control the actual outcomes (more on this to come in the Myths and Misconceptions section), but they could purchase a certain selection of higher paying machines before placing them in choice locations on the floor.

At the time, the idea was to get people standing in the lobby or by the buffet interested in playing slots because they kept hearing jackpot payouts and celebrations.

Today, however, the big casinos have thousands of slot machines under a single roof, making this level of management impractical. Rather than place certain games known to pay more often in select locations, casino managers simply stock their entire venue with games offering varied payback rates.

Here’s how John Robison, author of“The Slot Expert’s Guide to Playing Slots,” summed the placement situation up in a post for the American Casino Guide:

“The last change in the slot floor that I want to mention is perhaps the biggest change of all.

Casinos used to have hundreds of slot machines. Now they have thousands. One slot director in Las Vegas said in an interview a few years ago that with so many machines on his floor, he didn’t have time to micro-manage them.

He and his management decided the hold percentage they wanted for each denomination and he ordered payback programs close to that percentage for his machines. Furthermore, he said this was the common practice in Las Vegas.”

I’ve made mention of payback percentages many times now, and for good reason.

What the house edge metric is for table game players, payback percentage – and its inverse, the casino’s hold percentage – means for slot enthusiasts. Manufacturers and designers like International Game Technology (IGT), Scientific Games, Konami Gaming, Bally, and Aristocrat are all bound by strict gaming regulations which require games to have predetermined payback rates.

A popular themed game like The Walking Dead by IGT, for example, offers a generous 96 percent payback rate – good for a 4 percent house edge. But when you bring your bankroll to an older game like Mr. Cashman by Aristocrat, the payback percentage falls to 91 percent.

As it turns out, casinos rely on players not knowing their way around payback rates, as Steve Walther – senior director of marketing & product management for Konami Gaming – wrote in a 2017 column for the Las Vegas Sun:

“There are multiple schools of thought with regard to hold percentage and players’ ability to determine the hold in an individual session.

As games become more complex, the types of winning combinations have grown exponentially. When old games only had a certain number of slots on a wheel, maybe it was easier. Now, being able to feel the hold in a single session could be very difficult.

However, other schools of thought are different for repeat gamblers and those schools say maybe they can notice.”

Fortunately, these companies are bound by law to publish their payback percentages, so you can run a quick Google search for your favorite games to check up. If the game is offering anything less than 90 percent, you should avoid it like the plague. Low to mid 90s are the norm for penny slots, while anything higher is a gift from the heavens.

On a final note, of all the gambling games under the sun, slots seem to give rise to mistaken beliefs more than most.

Maybe it’s because players can’t make decisions to influence the outcome, but superstition runs rampant in the slot world.

Olaf Vancura- who serves as vice president of game development for slot maker Mikohn Gaming, a subsidiary of IGT – offered his take on the most pervasive slot myths during an interview with the Las Vegas Sun:

“I guess the No. 1 myth is that slot machines keep track of wins and losses and will compensate to get to a win.

But in the U.S., this is is illegal. Slots aren’t allowed to make adjustments.

They cannot and do not. Each win is a separate event.”

And Konami Gaming’s higher-up Walther echoed those sentiments, warning players to steer clear of fallacies and misinformation about the casino’s ability to control payouts from on high:

“There is all sorts of lore out there.

If you push buttons in a certain combination, if animals look at you funny, there are all sorts of myths.

And one is that there is a magical control center that can update games at a touch of a button.”

As the major myth associated with slots, many people will swear up and down that the casino’s “control room” has direct access to the reels spinning on their screen. Fortunately for players who enjoy fair play, Vancura clarified that this is simply an impossibility:

“Some people believe a slot director off in a back room somewhere is sitting at a computer and can change the machine right out from under you.

So if you are playing a good machine that you were doing well at, someone can tighten it down and you will run into a cold streak.

It’s not possible for the casino to pull the rug out from under you.”

And according to Vancura, another commonly heard myth – that players can “vulture” jackpots by waiting for a machine to be primed by previous play – just doesn’t hold up to technological scrutiny:

“Today’s slot machines don’t work that way. They are based on RNGs or random number generators.

Different manufacturers have different rates. But a good rule of thumb is that the RNGs are running hundreds of times per second.

So unless you had initiated that same spin at precisely the same instant, you would not have won the jackpot. If you’re even a tenth of a second off, you will get a completely different outcome.”

Penny slots can be a great way to enjoy the casino experience on the cheap, but only when you know how the game is really played. Using these five tips, you should be able to get your coins behind the best bets only, while avoiding the pitfalls that ensnare uninformed players.

There isn’t a single casino enthusiast who hasn’t dreamt about winning the jackpot. What could be more satisfying than taking a spin on a slot machine to have a $100,000.00, $1 million or even $10 million jackpot triggered that would change your life forever? Not much!

But how do you win the jackpot at a penny slot and how is it possible that winnings can reach such enormous amounts? These are just two of the questions that we will be answering in the following guide. In this, we will also take a look at some of the biggest penny slot winners online, as well as in Vegas, and share useful strategies that you may want to apply when going after the life changing reward.

This Is a Penny Slot

The term penny slot is used to describe any slot machine that allows you to bet 1 cent per payline. While this may sound obvious, the reality is that more often than not you will be paying 10, 20, 25 or even up to 50 cent per spin. This is because the vast majority of today’s slot machines don’t allow you to change the number of paylines that you would like to play with. So if a penny slot comes with 20 fixed paylines, the minimum bet will be 20 cents.

Modern slots are very different from how slots used to be back in the days. In the late 1990’s, many slot machines only had a single payline. Back then it made sense for a penny slot to actually be played at a minimum stake of 1 cent.

How Do Jackpots in Penny Slots Work and How Big Can Winnings Get?

Penny slots that offer jackpots are not much different from any other slot machines. Depending on how you define the word jackpot you could even say that they’re identical. This is because jackpot is sometimes thrown around as a term to describe a really big win or the maximum win of the slot machine and all slot machines have a maximum win. It would be quite weird if they didn’t, now wouldn’t it?

However, most of the time when someone speaks about a jackpot in a penny slot, they’re referring to a progressive jackpot. In difference to a fixed amount that can be won, this means that the jackpot is constantly growing bigger as players are spinning on the machine. A certain percentage of every stake that is made will simply contribute to the jackpot, which keeps growing until it has been won.

For instance, if 5% of every stake is contributing to the jackpot and you make 100 spins at a stake of $1 each, you would solely increase the jackpot amount by $5. A total of $100 has been spent and 5% of this has been added to the big prize.

Since the jackpot has no upper limit to it, this means that lucky penny slot winners can become filthy rich if they play a slot at the right time and manage to hit the jackpot. Winnings can easily reach several million dollars. Some slot machines even have their jackpots set to a $1 million starting value.

Not All Jackpots Can Pay as Much Though

As jackpots grow bigger and bigger until someone has won them, there are two things that affect their likelihood of reaching a certain amount. The first thing is the probability of hitting the jackpot. The harder it is to hit the jackpot, the more likely it is for the cash prize to grow big.

The second thing that matters is the percentual contribution. If players pay more of their stake towards the jackpot, it’s obviously going to grow quicker and become larger.

To fully understand the concept of penny slot jackpots, you must know that there are three different types of them. More often than not, a single slot machine is making use of at least two of these. This is when the machine has more than one jackpot that can be won. For instance, a “Mega”, “Major” and “Minor” jackpot.

The three different types of penny slot jackpots that exist are known as “Global Jackpots”, “Local Jackpots” and “Stand-Alone Jackpots”. Below, we have briefly described all three of these.

Global Penny Slot Jackpots

These are the major type of jackpots that can pay truly life changing amounts of several million dollars. The jackpot is globally connected to all slots that have the same name or belong to the same series. An example is the popular slot Mega Fortune which can be found at many of the best online casinos in the US. No matter what casino you choose to play this slot at, you will find that the “Mega Jackpot” is identical.

Another example is the Mega Moolah series that consists of several games, such as the original Mega Moolah; Absolootly Mad; Atlantean Treasure and Fortunium Gold. You can pick any of these games and will find that the “Mega Jackpot” is the same.

Local Penny Slot Jackpots

Jackpots that are locally connected with each other are connected within a specific network. What this means in reality is that if a gambling company is running multiple casinos, the local jackpot will be the same at all of these casinos. However, should you visit the same slot machine at another gambling site that isn’t part of the network, the jackpot amount would be different.

Mega Fortune, which we mentioned above, is one of many penny slots that have a local jackpot (actually two) in addition to its global one; the “Major” and “Rapid” jackpot.

While local jackpots always pay much less than global ones, many can still reach substantial amounts of up to $100,000.00 or even more.

Stand-Alone Penny Slot Jackpots

These types of jackpots are usually those that can pay the least; expect your penny slot winnings to be capped at $20,000 or so. The jackpots aren’t connected to anything at all, except for the specific slot machine that you are playing. So if a penny slot has gotten a stand-alone type of jackpot, the jackpot amount will always be different when you go from one game to another, even though the games are the same.

It doesn’t matter if we’re talking about two identical slots in the same venue (when playing land based) or two identical slots at two online casinos that are both owned by the same company. If the jackpot is stand-alone it is only connected to one slot machine and only spins that are made on that particular slot machine will contribute to the jackpot amount.

How to Hit the Big Win in Penny Slot Machines

Hitting the jackpot in a penny slot is not exactly rocket science. It almost always comes down to being lucky and to win big you will need a ton of luck. However, there are some things that are good to be aware of in terms of how the jackpot win happens.

The one and only crucial thing that comes to mind, is that some slot machines require you to bet a certain amount to be able to trigger the jackpot. It may for instance be that the minimum stake of the slot is 20 cents, but to have chance at the jackpot you would actually be required to bet at least 40. Make sure that you read the paytable of the slot so that you aren’t spinning for too little.

In some penny slots you can also affect the probability of winning the jackpot by betting more or less. It’s not too uncommon to find that the probability is linear to your bet size. This means that a 40 cent bet would have twice the chance of hitting the jackpot compared to a 20 cent bet.

When it comes to actually triggering the jackpot, this is often done during some kind of a bonus round, such as spinning a lucky wheel. This bonus round can either be activated randomly as you play or by hitting a certain set of symbols. There are also penny slots though where the jackpot is simply and instantly won by lining up the right type of symbols on the reels.

Some of The Biggest Jackpot Wins in Penny Slots Listed

Every year there’s a ton of newborn millionaires that have made a fortune from gambling. Some of these lucky people have hit the jackpot and gotten their big wins from penny slot machines. Below we have mentioned a couple of these wins, which include some of the biggest ones that have been won over the internet as well as in the gambling capital of the world, Las Vegas.

Biggest Penny Slot Wins Online

Please note that the big wins that we have listed below are all from different kinds of penny slot machines. We have mentioned the biggest ones from each machine. Had we only mentioned the largest jackpot winnings, Mega Moolah and Mega Fortune would have been the only slot machines on the list as these two games have paid massive amounts a heap of times.

Also note that the winning values below are listed in Euros, which means that if you’re an American the wins are actually much bigger than they already look.

Biggest Penny Slot Wins in Vegas

Being the gambling capital of the world, there’s no doubt that there have been ton of massive jackpot winnings from penny slots in Vegas. However, unfortunately it has been very difficult for us to find information about them.

With that being said, we have managed to scrape together a list of a couple of huge payouts that we’ve found. In this list we have also mentioned where the winnings have occurred. Turns out that Pahrump Nugget is worthy the name of being one of Vegas’s most paying casinos!

How Often Are Penny Slot Jackpots Won?

How long is a rope? All jokes aside, this will vary widely from one jackpot to another. Not only do all slot machines have different probabilities to their jackpots, but slots are also more or less popular. Even if the probability of hitting the jackpot is the same, the slot that is played more often will obviously have its jackpot won more frequently.

However, if you’re looking to win life changing amounts, we can give you somewhat of an idea. Below we have listed statistics from a couple of penny slot machines and their biggest jackpots. These statistics include how often the big jackpot is won on average; how many times it has been won since the game was released and what the average payout of it has been.

Jackpot Strategies to Use in Penny Slots Online

Let’s not beat around the bush. If you want to win a big jackpot from a penny slot you will need all the luck in the world. The life changing jackpot amounts of several million dollars that we all want to get our hands on are super rare, to say the least. As an example, playing with a 25 cent stake in Mega Fortune, the probability of winning the Mega Jackpot is about 1 in 3 million.

Unfortunately, there’s no strategy in the world that can change the fact that winning the jackpot is extremely hard. However, there are in fact strategies that can improve your chances and make the hunt of the big prize a more profitable one in terms of your long term return of investment. Let’s have a look!

Maximize Your Returns by Playing When the Jackpot Is High

In difference to normal slot machines, penny slots that offer a progressive jackpot have no fixed RTP (Return to Player). In other words, the amount that you are expected to win in the long run will vary.

This is because RTP is based on the probability of winning and the amount that can be won. In normal slot machines both of these values are static. In progressive jackpot slots, on the other hand, the amount that can be won is varying as the jackpot grows bigger and bigger until it’s eventually reset.

As you can imagine, this means that the higher the jackpot amount is, the higher the RTP of the slot, thus the more profitable it becomes. There are even occurrences when a jackpot has reached such a high amount that the slot has become favorable to play with an RTP above 100%.

If you want to maximize your returns chasing the big win in a penny slot machine, a valid strategy is to only play when the jackpot is really high. People have then spent their money to boost the value of the slot, which is value that you are able to take part of.

Choose the Casino That Has the Highest Penny Slot Jackpots

As previously explained in the guide, there are three different types of penny slot jackpots. While the global one is the one that you would like to trigger, this is often accompanied by one or two local jackpots that could give your bankroll a nice boost.

No matter the casino you choose to play at, the global jackpot will be the same. The local ones will, however, vary in size. This means that by choosing the right casino to chase the big jackpot win at, you can affect the expected value of your session, similarly to what we just said above.

The bigger the local jackpot is, the higher the RTP. There’s no reason to chase a million dollar jackpot with a side jackpot of $10,000 if you could chase the same million dollar jackpot with a side jackpot of $100,000. After all, the local jackpots are much easier to trigger than the global ones.

Bet More to Have a Higher Chance of Winning the Jackpot

We’ve already covered this in the article and as we said the probability of winning the jackpot is often linear to your bet size. We mentioned early that the big penny slot jackpot in Mega Fortune is won once in 3 million spins when playing at a stake of 25 cents. Should you, on the other hand, bet the maximum amount in the slot (which is $200), the probability would be 1 in about 15,000. Now that’s a huge difference and a number that isn’t that far away.

The strategy of betting more may of course be a very costly one depending on your budget, but it does work very well in combination with the other two. If the jackpot is high, and perhaps even high enough to yield a long term positive return, you may want go all in for a real chance of actually winning it.

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