Did you know that the average income in 1913 was $4,000? That every penny back then is worth a quarter in today’s dollars? 
Okay, but what does that have to do with penny slots?
A lot. Let me explain.
Back then playing penny slots was a much bigger deal. Every penny you risked made up a much larger percentage of your income than it does today. Never mind playing 40 lines (had they been around) – that would’ve equaled almost $10 per spin today.
So back then you’d get pretty dang excited hearing 100 pennies hit the tray. CLANG! CLANG! CLANG! That’s the equivalent to one-third the average weekly salary. A big deal, to say the least.
But that’s hardly the case nowadays. Hell, what does a penny get you anymore? Even Obama is open to getting rid of the penny. 
So that brings us to a very important question:
I think so. Let me give you a few reasons why (below).
1. You can win lots of money, for starters.
You’d be forgiven for thinking you could only win hundreds of thousands – or even millions of dollars – by playing the costly progressive slot machines. Nothing against them, but I have no desire to spend $5 or more per spin. Do you?
And that’s okay, because it’s 100% possible to win life altering money playing penny slots. Here’s one of many examples:
In 2006 a 66-year-old man in Nevada stuck it rich when he won the largest amount ever recorded from a Penny Megabucks machine. How much did he win?
Oh, only $18,799,414. 
But lets make something clear – this isn’t normal. I am not saying you’re going to win millions of dollars. The odds are against you, honestly.
I’m only saying that it’s possible.
2. Some of the coolest machines are penny slots.
Just check out some of the slot games you can play:
This barely scratches the surface – there are TONS more where these came from. And they come from the best slot software companies, such as:
One thing to keep in mind though –
Where you live will determine what slots you can or can’t play. For example, players in the United States can only play penny slots from BetSoft or Real Time Gaming. Software companies like Microgaming and Playtech don’t cater to US-friendly casinos.
3. You can still play for (and win) slot jackpots.
Think you can only win jackpots by playing those big, expensive dollar machines?
Well, you’d be wrong. Many penny slot machines have jackpots you can win.
For example, a few weeks ago in Missouri I was playing a random slot machine. It had two jackpots – one was for smaller stakes and the other for larger stakes. I happened to win the smaller one for $30. The cool part is this jackpot HAD to payout before it reached $40.
And here’s another example…
The wife and I enjoy playing the Adventures to Neverland slot. This has a progressive jackpot for each of the characters – Captain Hook, Peter Pan, Wendy and I think Tinkerbell. Whenever you play a bonus round you have a chance to win one.
Then you have my example above where people have won millions playing penny progressive slots.
So the jackpots are out there – you just have to find them. (And a good way to do that is to visit our recommended casinos above or read our casino reviews.)
4. You can try them out for cheap.
Maybe a machine catches your eye, but you have no idea if you’ll like playing it. The theme might suck or maybe it doesn’t have bonus rounds.
The good news is penny slots let you find out for cheap. You can wager as little as one cent, which means you won’t lost more than $3-$6 (on average) in an hour.
Plenty of time to decide if the machine is any good.
Then once you do then bet all the lines (for $12-$30 per hour). At that point you’ll be having fun and increase your chances at hitting something good.
I wanted to wrap this page up with some tips for playing penny slots. These tips will help you online or in a brick and mortar casino. So lets get to it.
1. Be careful! You can spend money fast playing penny slots.
Yes, you’re only spending 1-60 cents per spin. But keep in mind you can make 400-600 spins PER HOUR. Do the math:
And that’s only at one bet per line. You can usually make 3-5 bets per line, which means you can spend upwards of $1,800 per hour.
2. Some machines payout more often or trigger more bonus rounds than others.
One thing I have noticed is that some machines are just setup to payout more, and more often. The same goes for bonus rounds.
So I suggest finding a machine that does. Because even if you’re not winning any money, at least you can have a good time playing mini-games and getting small wins here and there.
3. Get a players card.
Remember what I said above about how much money you can spend on a penny slots?
If you get a players card then all that money you spend will contribute to you getting more spins (which can turn into LARGE WINS), cash back or, if you’re playing live, buffet or drink coupons.
4. Find a machine with bonus rounds and jackpots.
Even if the winnings won’t often be as big as the larger denomination machines, hitting any kind of jackpot or bonus round is exciting. And any sort of winning – no matter the size – will give you something to talk bout with your friends later.
And that sounds like a good time to me.