For many years, penny slot machines were a novelty of the gaming industry. Relics of the forties and fifties, penny slot machines were relegated to museums until recently.
Casinos are beginning to experiment with one-cent and two-cent slot machines, and new technology is helping them do that. Players can now enjoy multi-line video slot machines that allow wagers on several lines at a time. Ticket-in, ticket-out (or TITO) playing makes these machines more convenient to play as well, because customers carry a ticket rather than a bucket of coins. This means that players who like low-risk, low-denomination games are playing more often. Penny slots are especially attractive to low-income older people.
Some casinos in Nevada and the Midwest report that their penny and two-cent slots are bringing in more profits than their nickel and quarter slot machines. Bally’s in Atlantic City recently added 149 penny slot machines, and Australian casinos have made seventy-five percent of their slot machines penny slots. Customers find that they can play for a long time on a fairly small stake because the penny slots often pay off with bonus spins.
Players can even enjoy progressive slots on penny machines. Most jackpots don’t exceed more than a few thousand dollars, but recently, a man in San Diego won $2.1 million in a progressive penny slot machine.
Customers have given penny slots an enthusiastic welcome, and casinos are discovering that penny slots are serving a previously undiscovered market.