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Can Playing Online Slots Get Expensive for New Players?

To answer it too sweet, no, trying out online slots, whether as a new or seasoned player, doesn’t have to cost a bomb if you don’t want it. The question is – how?

Before we continue, let’s keep in mind that there will always be a cost involved with playing slots, regardless of the game you choose or how you play it. Obviously, if you prefer to play free slots and don’t want to spend or win real money, the situation would be different.

Think of it as enjoying any other sort of entertainment, like booking a day trip to an amusement park, going to the movies, or attending a concert. You will need to invest money in each of these activities.

Now, the question is how much you would want to spend. Since there are no real restrictions, in this case, you should probably investigate the costs before determining whether to splurge or save. The same holds true for slot machine gambling, too.

But how do you find out how much it will cost to play a slot machine online? How can you ensure that you have enough money in your bankroll to participate in the game without overspending? Let’s understand this now.

Factors that Impact a Slot Player’s Bankroll

  • RTP, House Edge, and Volatility
  • Cost of Play Per Hour
  • Player Expectations

RTP, House Edge, and Volatility

These three aspects of a slot game might lead you to lose a lot of money in just a single gaming session and then win quite a bit in another.

RTP determines how much you will get back from a slot game over a period of time. House Edge is the opposite; it determines how much the casino will win from you over a period of time.

Volatility, on the other hand, is the risk associated with the game; slots with low volatility pay out small wins frequently, whereas those with high volatility pay out large wins, but rarely.

As a new player, you can expect to lose a significant amount of money playing low RTP and high volatility slots over a shorter period of time. On the other hand, a high RTP, low volatility slot might allow you to be in the game for a longer period of time.

Whatever the case, it’s good to keep in mind that the house always wins. The longer you play, the more likely it is that your expenses will align with the slot’s cost of play (discussed in the next section).

Cost of Play Per Hour

Think about the last time you played your favorite slot online. Do you remember how much money you burned in an hour and how many spins you got during that window? Well, that’s the cost of play for that particular slot per hour. It is calculated using this formula:

Cost of Play Per Hour = (House Edge x Bets per Hour x Amount Bet)

For slots, the speed of spinning the reels is measured as bets per second. The average is usually considered to be 1 bet per 5 seconds or 12 bets per minute, or 720 bets per hour. If a player decides to bet $1 per spin in a certain slot game and plays it for an hour, he is likely to spend $720 theoretically.

Therefore, if the player is playing a slot game with House Edge 3%, the Cost of Play Per Hour would be 3/100 X 720 X 1 = $21.60. This is the amount you are likely to lose on an average per hour based on long-term play. However, if you play for short periods and place small bets, you will spend less and hence, lose less.

The best way to ascertain this is to try out demo slots for at least an hour. You will get a rough idea of how much money the games will warrant in the short and long run.

Player Expectations

This is one of the most important factors that will determine how expensive slot gaming can get for an individual player. Ask yourself what you really want from a gaming session.

Do you wish to revisit your favorite slots and enjoy them regardless of how much you spend? Do you wish to double or triple your bankroll? Are you looking to land big wins? Or do you simply want to pass the time?

When you have a particular objective in mind, it becomes easier to decide on the money you want to spend. Those looking to simply enjoy their favorite slots aren’t too bothered about the bankroll, perhaps.

But those looking to get large payouts must prepare to keep handy as much disposable cash as possible. Even if it’s just for casual gaming, keeping aside money worth one-fourth of your travel expenses are generally recommended.

Tips to Make the Most of your Bankroll for Slot Gaming

  • Bet Small, Bet Less
  • Don’t Chase Losses
  • Set Limits for Profit and Loss
  • Make Use of Bonuses

Bet Small, Bet Less

The best way to play slots for cheap is to invest less money. Doing so won’t lead to disappointment for new players if they end up losing it all. A good starting point should be a minimum deposit casino that requires a measly amount to get started.

Additionally, make deposits using an e-wallet that can help you keep track of your expenses. Skrill is one such payment provider that offers an e-wallet where you can view your total funds as well as credit and debit amounts.

You can find the best minimum deposit Skrill casinos at minimumpodesitcasinos.ie.

Don’t Chase Losses

Once you are on a losing streak, don’t chase losses in an attempt to win back your lost money. You might end up losing more money and getting frustrated. A smart gambler knows when to quit. Also, remember that slot gaming is for entertainment purposes only. It must never be treated as a source of income.

Set Limits on Profit and Loss

This pointer is a continuation of the previous pointer. Before you begin, set limits for how much you can afford to bet and lose. If you reach a certain profit, make it a point to quit the game instead of continuing and losing it all. If possible, set aside at least half of your winnings before continuing to put in more money.

Make Use of Bonuses

There’s no better way to raise the RTP of a slot game than use casino bonuses and free spins. Also, this is free money the operator is handing out, which increases your bankroll. Availing yourself of bonuses helps you stretch out your slot money without spending much from your pocket.

Read about the nitty-gritty of slot games here.

To conclude, slot gaming can get as expensive and as cheap as you want it to be. If you are a new or budget player navigating your options, keep all the above pointers in mind, and you should be good.