When it comes to casino games, most of them have a fairly low house edge, which means the average player won't lose much if they keep bets low. But even with this being the case, many players aren't comfortable wagering $1 - $5 per spin. And these people like to opt for penny slots because, as the name implies, you only have to bet $0.01 per spin.

By only betting a penny per spin, you can play slots for quite a while and not worry about losing much money. However, the overall amount of cash that you're risking shouldn't be the only aspect worth considering. In fact, there are other things to think about in regard to playing penny slots, as you'll see below.

Chasing the Top Payout Percentage

Most slots players know that the payout percentage concept is important in slots. After all, the higher the payout percentage is, the better your chances are of making money. For instance, a slots game with 97% payback would theoretically offer $0.97 back on every $1 wagered.

Unfortunately, you don't always get the best payback when betting a penny on each spin. The reason why is because some penny slots only offer the top payout percentage to those who are wagering the maximum amount per spin. Going further, if the max bet was $1.00 and you didn't wager this, you wouldn't be eligible for the jackpot.

So while it's perfectly in your right to bet a penny per spin, just know that your expected payback will take a hit as a result of wagering less than the max.

Finding the Right Penny Slots

Rarely will you find a game that allows you to bet a penny per spin and achieve the top payout percentage. However, that's not to say some penny slots aren't better than others.

Some slots don't feature much of a drop-off from the max to penny wager in terms of payback. This is especially the case in 'random jackpot games,' where players can win the top prize on any spin of any value. So no matter whether you wager $0.01 or $1.00, you still have an opportunity to hit the jackpot.

Bet what makes you Comfortable

As we've discussed, wagering the maximum amount in a slots game is the best way to achieve the top payout percentage. But if you can't afford to bet $1.00 or more per spin - yet still want to have fun with online slots - stick with penny or nickel bets. After all, slots is about entertaining yourself, so wager whatever amount you can comfortably afford.