Penny Slots Huge Money Makers
It’s no wonder why so many online and land-based casinos focus their time on penny slot machines. It’s estimated that last year in Nevada about one-fourth of all slot machine revenue in the state came from penny slots. Also, Missouri is showing that their casino revenues made up over half of their total slots income. The penny slots are not waning in popularity. In fact in some areas they are taking over as the biggest revenue generating games on the casino floor.
Surveys are showing that most gamblers like penny slots because they can “play longer of the same amount of money.” In addition, slots parlors love their penny slots because statistically they have been more lucrative for the house than other types of slots. Kansas City player Cora Logan, 72, stated, “It’s all just for recreation. When you come here, don’t expect to win. If you put a lot of money in these you’re crazy.”
Most of the casinos in Kansas City serve the local area market, rather than attract visitors from other areas like Las Vegas or Atlantic City. That means that these casinos are relying on the lower wagering clientele who come in regularly. It is not revenue made up of huge bulk wagers, but rather revenue that comes in steadily and reliably.
Slot machine expert Frank Legato stated, “Affordability is why people love them [penny slots.] Casinos just love them because the average bets are the same as the quarter or dollar games, but their house edge is bigger on these games. People playing penny machines are not concerned about that. They just want to have fun and play a long time with little money.”
To play the penny slot machines players have to place electronic bets in 1 or 2-penny increments. The wager is from 1 penny up to $20 per spin. Gamblers are known to sit at the penny slot machine and play for hours. It’s a game of fun and lasting excitement. As player Stephanie Wright, 41, of Kansas City stated, “I’m just here to have fun. My boyfriend plays cards and I like to sit and play these while he does that.”
Tags: penny, penny slots, revenue
