The concept of nickel slots is very similar to penny slot games. These slots are low-cost machines, that accept bets in the penny and nickel range. On the other hand, they can help you win bigger prizes than you originally wished to. With only a nickel you have thousands of chances to hit the jackpot. This is why they are so attractive.
Crazy Rumors About Nickel Slots
You may find it surprising, but you can come across some very odd advice regarding nickel slot games online. For example, some sources claim that you should choose games with progressive jackpots that offer nickel spins because they can double your chance of winning big. Actually, it is hard to believe this is true because progressive games suggest lower hit rates and therefore lower payout percentages than flat top games.
Another strange comment regarding nickel slot machines is that you should stop playing before hitting a risk. In other words, even though you have made a good profit, it is better to quit while you are ahead. That can be true up to a point, but imagine that on your first spin you earn $5. If you decide to quit at that point, then you risk spoiling all the fun. A better plan of action is to define ahead the amount of money that you are ready to lose without having any unwanted financial consequences. This way you can prepare a small budget that you can either double it or give it away without ending up with empty pockets. It is a win-win situation – you had your very good time gambling, and you can still pay your rent.
To avoid any other misconceptions about nickel slots, we have created a list of terms that can clear the picture and give you a better understanding of the theme.
Online Gambling Terms
- A flat top game – Essentially the term makes reference to the potential jackpot – it is set, and will not increase above a certain amount. In this kind of games, you only extend your chances of winning when you bet more, but not the award as it remains constant (it has been set by the game’s random number generator (RNG) and par sheet beforehand).
- A progressive jackpot game – The case here is opposite to flat top games. The jackpot is a steadily rising (that is why they are called progressive) based on the amount of money being put into the machine. The crucial difference between the two is that flat top games have fixed jackpot and progressives have an ever-increasing one.
- The payout percentage – A very important element. It is set on a comparison of the amount of awards paid out to the amount of bets that have been placed. For instance, if an online gambling site shows a report of 97% in payout percentages on all games, this means that for every $100 that are spent there, $97 is paid out in winnings. So, if you see a higher payout percentage than the return, you will get more, which ultimately leads to a longer gameplay.
- A slot machine’s hit rate – This refers to the fraction of rounds after which the machine tells players they are winners. The higher rate usually means more exciting game, but this is not true for progressive games as they do not allow frequent hits due to the huge jackpot they have to pay.
Now that you know the basic terms regarding nickel slots, we would like to share some statistics with you. The chances of hitting a million dollars on a progressive slot machine equal to 1 in 50 million. So, it would be better if you go with a game that provides you with the realistic opportunity of winning a decent sum of money once in a while.
Difference Between Nickel and Penny Slots
Online slot machines are gaining huge popularity among online chance games. Essentially, the payout percentages get bigger as you increase in domination. So, if you are bored with penny slot games, then you should try playing nickel slots. With the latter, you will be earning bigger bonuses and payments compared to the penny slot games. If you have any doubts, check out some gambling forums, where you can verify this statement with players who review their results after gambling.
Unfortunately, it is harder to locate nickel slots than penny slots in land-based casino around Atlantic City or Las Vegas. Find it surprising? Actually, it is not. A large variety of the penny slot machine games are not one cent per spin. You start with wagers on multiple pay lines, and in a while, you end up with $1.25 per spin.
Nickel slot games are the most inexpensive way to have a great time online and earn a decent award. Moreover, they are gaining more and more popularity online, so space is not a problem likewise land-based casinos. In fact, there are numerous options to play online in front of you!
The amount of prizes that you can earn from slot machines varies a lot. You can even find nickel slot machines with a max wager of 3 to 5 coins per spin. To put this in numbers, for every spin of the reel you will wager 15 cents to 25 cents. The maximum jackpot of these games can also vary, but usually, it is in the lines of $500 and $1500. The nickel machines may not give you the high payout that you can get from the progressive slots, but as we have previously discussed it is easier to hit the jackpot with nickel slots. There is a lot more to nickel slot machines than meets the eye. However, they are easy to play and lots of fun because you have a bigger chance to win than with any other games. Last but not least, you can find extensive selections online, so choose the one that suits you best or try as many as you like.