Some are fact and some are fiction, so thankfully for you, we are here to share three simple tips which should increase your chances of winning big. Of course, not every penny slot strategy that is printed on the internet is a good one. Employ the right strategy while hitting up the low stake games and you can keep your risk minimal while increasing your chances of a big pay-out. We don’t mean to be crude, but those gamblers are completely wrong. Many gamblers associate penny slots with ‘low risk and low reward’ gameplay. Depending on the type of slot, you’ll have to choose a stake and a level and push the Spin button. The playing process is virtually the same as if you played any other slot games, only the stakes are different. This way you can play one penny per pay line and you won’t take any big risks. Penny slots are slot machines that can be played for low stakes.