Penny Slots Take Gambling World by Storm
According to recent studies, casinos have increased the number of penny slots they have in record numbers throughout the past two years. There used to be a time when larger-denomination slots were all the rage. If you went into any local land-based casino, you’d see the high-end slot machines packed and customers trying their best to win some big money at them. Then the recession happened. Many people couldn’t afford the change. Margaret Billingworth of Plainfield, Wisconsin said, “I used to be able to bring $250 and play for hours at my $10-slots. Now that I have a limited income I only can bring $100. If I play on the $10-slots, I’d be done in 20 minutes. If I play on the penny-slots though, I can have lots of fun for the same amount of time I used to.”
It’s no secret that throughout the recession many people have cut back. But a lot of gamblers want to be able to play for extended period of time just like they did prior to the recession. Penny slots are making that possible. It’s somewhat surprising to the gambling world and the economy that penny slots have taken off so much throughout the economic downturn. In addition, penny slots have grown in popularity exponentially since the troubles first began. For example, in the past two years Nevada had removed 12,000 of their more costly slot machines to make room for 7,000 additional penny slots. The state has been watching what machines do best for some time and the performance of penny slots can’t be argued.
Another state that is working to push penny slots is Missouri. Missouri did a recent study and found out that their penny slots make up 42% of the total betting and about 63% of the casino profits throughout the state. That’s a huge number and reliance on penny slots for more than half of their business’ operations is indicative of how well they are doing.
The great thing about penny slots is that the computerized games take dollar bills and then apportion it out at ¢1 increments. Players can enjoy penny slots that are designed to pay out smaller totals, but pay out more often. One casino executive said, “A consultant told us it was a joke to put all those penny machines in. Then we showed him our revenue.”
Tags: gambling, penny, penny slots
