Page 6 - December 2010 • Southern California Gaming Guide

Bill Burton: About Gambling
TPenny Slots: Pennies Add Up
he other day I was watching one of the cable news channels, and they aired a segment about the cost of minting a penny. e story stated that since 2006, it has cost the United States Mint more to produce a penny than the face value, and they questioned whether it
was time to do away with this denomination coin.
When I watched the story I had to laugh because this “news story” has been reappearing every few years since 1982. at was the year when the penny changed to mostly zinc because of the high cost of copper. Every year since, there has been a debate on why the penny should or should not continue to be used. e penny has become the Rodney Danger eld of currency because it gets no respect from a lot of people.
e corporate world knows the value of a penny and they have their budgets
reel machines. A few penny games even have 20 lines that can take up to 50 coins per line which would be a maximum bet of $10 a spin. Some penny slot machines o er life-changing million-dollar progressive jackpots. However, to qualify for them you must play the maximum bet, which costs several dollars.
Frequency and Payback
Hit frequency is the percentage of spins that will result in a win. One
Unless you are playing a machine that is a progressive or has a special bonus for maximum coins, the payback percentage will be the same whether you are playing one coin per line or the maximum. You may choose to start with playing a single coin on each line. If you get ahead, you can increase the number of coins you play per line. If you are losing, you can go back to a single coin per line.
Another reason why penny slot machines are so pro table is because at the end of a session, players have a tendency to play o credits when they are playing a penny machine more than they would if they were playing a higher denomination slot. is fact has not been lost on casinos or slot makers. It is easier to just play that last dollar down to zero than wait in the cashier’s line or walk over to the change machine to convert your slot ticket into a few coins. If you move from machine to machine, instead of playing o the credits, cash out your vouchers and save them until you are ready to leave for the day. Your pennies from your sessions can add up into dollars that you would have played o .
Penny slot machines can be fun to play. Just remember that even a penny has value. e casinos know this and you should, too. Even though they are called penny slots, you can still win big—or lose big dollars.
Until next time, remember: “Luck comes and goes.. Knowledge Stays Forever.”
Bill Burton is the author of 1000 Best Casino Gambling Secrets and Get the Edge at Low Limit Texas Hold’em available online at www.billburton.com. Burton is also an instructor for Golden Touch Craps: www.thecrapsclub.com.
and expenses calculated down to a fraction of a cent. A penny here and there can add up to big pro ts in the long run, and nobody knows this better than casinos.
Pennies Are King
“One thing that makes penny machines so popular is the excitement of the high hit frequency. Because there are more lines on which symbols can appear, there are more chances of hitting
a winning combination. The hit frequency will be higher, although sometimes you will win less than the coins you played for that spin.”
thing that makes penny machines so popular is the excitement of the high hit frequency. Because there are more lines on which symbols can appear, there are more chances of hitting a winning combination. e hit frequency will be higher, although sometimes you will win less than the coins you played for that spin. You might play one coin for each of the ve lines and have a winning combination that pays you back two coins. You
Several years ago, the
casinos discovered the
true value of a penny when
penny slot machines made
their way onto casino
oors. Revenue from every
form of gambling has
fallen in Nevada during
the recession—except for
penny slots. Penny slot revenue was up 3% in the year. In some gambling jurisdictions the revenue from penny slot machines accounts for 25% to 40% of casino pro ts. Penny slot players are the new high rollers in regards to casino pro ts.
are still getting something back on more spins, and these small wins can be replayed through the machine.
Penny Slot Playing Tips
If you want to play penny slot machines, you should approach them with caution. Don’t just automatically hit the maximum spin button. Read the help screen and nd out how many coins it takes to have a bet on all the lines. en decide how many coins/credits you want to risk per spin.
When I rst wrote about penny slots back in 2006, I described them as a wolf in sheep’s clothing. Penny slot machines cost a lot more than a few pennies to play. In fact, playing maximum bet on most penny machines will sometimes cost you more than dollar
Page 6
SOUTHERN CALIFORNIA GAMING GUIDE
December 2010
About Gambling with Bill Burton