As the name might suggest, a dollar slot is the kind of slot machine that requires the gambler to spend no less than $1 to spin the reels. When it comes to the choice of a slot based on your budget, the general rule is: go for the highest-denomination machine you could afford. For example, pick a nickel slot over a penny slot. This rule of thumb is explained by the correlation between a machine’s denomination and its RTP coefficient. Basically, the more you are required to spend per spin, the higher is the payout percentage.

Are Dollar Slots The Right Choice For You?

Following this logical principle, a dollar slot is a perfect choice for a gambler whose interest in Quarter Slots is starting to dissipate and whose budget prevents them from switching straight to the more expensive 5-dollar machines. If you’re a novice in online gambling, it might be worth reminding that many dollar slots will require you to wager more than just a single $1 coin on one payline. As a rule, the machines available in web-based casinos feature various betting options, allowing you to wager several coins on each of the several paylines. Consequently, a single spin of the reels is likely to cost you more than one dollar, despite the name of this slot category.

To state it differently, it would be an unreasonable decision if you straight up launch the slot, put in a hundred bucks and hit the Max Bet button. Before starting a gambling session, it’s recommended you check out the particular machine’s rules to make sure that the max bet option will not make a hole in your budget. However, when choosing between the minimum or maximum bet, take into account that many machines give you a higher RTP and greater odds of winning the jackpot when you’re willing to take the risk and bet the maximum. Depending on your planned gambling expenses, it might be rational to return to quarter (25-cent) slots in order to afford the maximum possible bets.

The Difference Between Penny And Dollar Slots

Aside from the obvious difference in the minimal cost of a single spin, the significant distinction between these two categories is your chances of winning. Many 1-cent slots offer progressive jackpots (sometimes even more than one), but the gambler needs to max out the bet in order to have a chance of hitting the biggest win. This implies your per-spin wager will range between 100 and 150 cents, but the RTP will remain low, which is typical for penny slots. Moreover, if you prefer to budget carefully and refrain from maxing out the bets, you’re unlikely to see a winning that exceeds some 20 bucks.

All things considered, it’s a more reasonable choice to play free dollar slots of traditional design: 3 reels and 1 payline. In this case, you will enjoy higher chances of winning due to the game’s greater RTP coefficient, as well as jackpots of a thousand dollars or more.

The Cost Of Playing A Dollar Slot

If you’re grimly determined to have a dollar-per-spin gambling session, it’s important to keep in order the financial resources you intend to spend on the slot machine. First of all, you need to make an estimation of your per-hour losses at the given machine. This calculation is done as follows: determine how many bets you make every hour and how much you wager each time, then multiply the two values. The resulting amount should be multiplied by the game’s house edge.

Estimating Your Losses In 3 Steps

  1. Here’s an example of how to perform such a calculation. According to statistics, the rough average number of spins made on a dollar slot every hour is 600. Let’s assume you’re trying out your luck at a machine with three paylines and you are bold enough to max out your bet each time. Consequently, a single spin costs you 3 dollars, and one hour of gambling may entail the loss of a whopping 1800 dollars, if the gambler is totally out of luck.
  2. As a gambler, you can’t really know the house edge for this or that particular game. However, you can resort to the slot’s rules and get familiar with the officially stated payout percentage values (also known as the return-to-player coefficient). To determine the house edge value, you need to subtract the RTP established in the rules from 100%. For example, if the payout percentage in the game is 96%, the house edge is 4%.
  3. According to statistics for dollar slot machines available in online casinos, the average RTP percentage is equal to 95%. In monetary terms, when starting a gambling session at such a slot, you should expect to lose no less than 5 dollars out of every 100 dollars that you wager in the game. To continue the above calculation, if you spin the reels 600 times per hour and wager 3 dollars each time, your estimated average per-hour loss is 90 dollars.

Setting A Budget

Thus, before you decide to entertain yourself with a gambling session at dollar slots online, have a careful and thorough consideration of your budget. Determine the amount of money you can lose without causing yourself any financial discomfort. Compare that figure to the expected duration of your gambling session. Let us suppose that you’ve decided to devote an entire weekend to this hobby and plan to spend 8 hours at the slots. Your fun budget should be in the range of 700-800 dollars.

However, gambling is a matter of chance and fortune, so you may stumble upon a lucky streak. Of course, a series of wins will add to your budget, allowing you to enjoy more hours of gambling. And who knows, perhaps when you decide to play free dollar slots at an online casino, you’ll have a true stroke of luck and snatch up the jackpot!