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Penny slot machines the hottest gambling at U.S. casinos

September 01 2009

Penny slot machines have turned out to be the hottest form of casino gambling during this recession at USA casinos.

It's been reported that land based USA casinos are replacing the $1 machines with video slots that accept wagers as small as one cent at a time.

Recent data released showed that the penny slot machines accounted for 36% of wagers at Indiana casinos in July, up from 8% during 2005.

USA TODAY examined gambling data in seven states and found penny slot revenue is rising all over the states.

Las Vegas was slow to pick up on the penny slots trend, but it finally jumped on board. In the last 2 years, Las Vegas casinos have added more than 7,000 penny slot machines and removed 12,000 machines that require larger wagers. Revenue from every form of gambling has fallen in Las Vegas during the recession except penny slots. Penny slot revenue was up 3% in the year ending June 30. The 32 other types of gambling tracked by Las Vegas regulators from sports gambling to roulette plummeted 19%.

"larger casinos used to frown on penny slots," states Bob Sobczyk, vice president of casino operations at penny-slot innovator Ameristar, which owns casinos in six states. "A consultant told us it was a joke to put all those penny machines in. Then we showed him our revenue," Sobczyk states.

He states penny slots are a hit due to the fact that they're video terminals full of visual glitz and gambling variety that a mechanical slot machine can't match by lining up three cherries.

Modern penny slot machines don't even accept pennies or pay jackpots in coins. players use dollar bills or casino tickets containing a cash balance.

players can make 100 penny wagers simultaneously for $1.

Penny slots typically set to pay off the player more frequently as much as 70% of the time for every $1 bet but pay smaller prizes. Casinos make more on penny slots, even though players bet less. In Missouri, penny slots account for 42% of wagers and 63% of casino profits.

What should a slot player do if they're interested in making money? Feigenbaum claimed "Tell them to invest in a college education," .

Good Luck

From the Online Casinos USA team

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