• Slot Machine Value Price Guide
• Mills Slot Machine Value Guide
• Mills Slot Machine Value Guide
• Jennings 400 Slot Machine Value Guide

Gambling is making its way through the US as sports betting expands and states allow the construction of new casinos. What was once a tourist attraction for Vegas or Atlantic City visitors is now a popular pastime.

The first nickel slot was created in 1893 by an inventor named Gustav Schultze, whose Horseshoes game paid two nickels if the wheel landed on one of ten horseshoes—customers got a free drink if they landed on a joker, and the remaining 14 out of 25 symbols were worth. Every unique symbol on a slot machine has a specific value. If the symbol ends up in a pay line with identical symbols, you earn a payout based on the value of each one in the pay line. Slots typically make their highest paying symbols images of the main character on which the slot is based or something similar.

While sports betting is making the most headway in the US, online casinos and land-based gaming are making more gradual moves to new markets. Illinois recently allowed for the construction of six new casinos while nearby Michigan is gearing up to launch online casinos.

And where there are casinos, be they land-based or online, there are also slots. The glitzy, ring-dinging contraptions are often a source of confusion for rookie gamblers. But slots are actually fairly easy to understand, and I’ve compiled a beginner’s guide so you know how they work and what to expect when you spin the reels.

Are Slot Machines Rigged?

This is the first question many slot players have, and it’s a fair one. Slot machines are not “rigged” in the sense that the casino chooses when a jackpot or big win hits.

Slots are games of chance, just like blackjack, craps, sports betting, or poker. But the mechanics of slot games vary, and the house edge is bigger when you play slots compared to most table games.

The House Edge

Slot Machine Value Price Guide

The house edge is the profit a casino (or online casino site) makes on each bet you place. You can still win money; the house edge represents a percentage of all bets placed and what the casino will make on those based on the match of a given game.

Online slots and slot machines have a house edge ranging from 2% to 15%, though the 5-10% range is most common. By comparison, blackjack usually has a house edge of 0.5% and double zero roulette sits around 5%.

How To Play

It’s easy enough to sit down at a slot machine, put $20, and spin. But understanding how the actual games work makes the experience much more fun.

Understanding Denominations

You might find slots that advertise themselves as “penny slots.” Even though the name may make you think they cost a penny per spin, it’s not quite so simple. “Penny slots” mean that each pay line you’re betting on costs a penny. A pay line is a left-to-right pathway that connects symbols on the reels. Some are straight lines and some taking a more winding path, such as in the shape of a “W.”

When you play a slot, you choose how many lines to bet on, and this varies based on the slot you’re playing. Some have 243 lines, some have 50, and there are plenty of others in between. The more paylines you hit on a given spin, the more you win.

The more you bet, the more pay lines you have access to. So if you’re max betting on a penny slot with 50 pay lines, each individual spin would cost you $.50.

The cost of each bet changes from one slot to the next, so always check the machine or online slot you’re playing to be sure you know where your money is going.

Symbols And Paylines

Every unique symbol on a slot machine has a specific value. If the symbol ends up in a pay line with identical symbols, you earn a payout based on the value of each one in the pay line.

Slots typically make their highest paying symbols images of the main character on which the slot is based or something similar. Perhaps a pot of gold on a leprechaun game. Lower-paying symbols are usually A, K, Q, J, and 10, similar to cards at a table game.

Spinning The Reels

This, of course, is the ultimate draw of slot machines. The reels blur as they spin into oblivion, then slow to a stop and hopefully get you a winning pay line (or multiple). Depending on how you play, you’ll have a few options for spinning.

Most slot machines have a button that kicks off the spin, while others have the traditional mechanical lever. Some have both, giving you an option. There’s no difference in outcome with either method, but it’s a unique thrill to pull the physical lever.

For online slots players, spinning usually comes in the form of a quick tap of the screen. Certain online slot themes let you auto spin, continuously repeating spins and automatically logging any wins.

Bonuses And Jackpots

If you’ve seen someone win big on a slot game, it’s likely thanks to a bonus or a jackpot. Though you might be inclined to think they’re the same thing, there are crucial differences.

Bonuses

Bonuses are triggered by events during normal slot play. This often means landing three specific bonus symbols on a single spin. There are countless ways to trigger a bonus, though, and slot makers are always thinking of new mechanics.

Bonuses take many shapes and sizes. Many give you a number of free spins with added flair, like a whole row of wild symbols or a payout multiplier.

In many cases, bonuses also give you the opportunity to win a jackpot.

Jackpots

Jackpots are the big wins, the multi-hundred or -thousand dollar hits that you see in movies and on TV. There are two common jackpot types.

Some jackpots can be hit during normal play, and others are triggered by bonuses.

Local Progressive Jackpots

Every time you spin the reels on a slot, you’re contributing to the larger jackpot pool. Machines usually have a top box component or a special area used to display the current jackpot levels.

Local jackpots take from either a single machine or a small group of slot machines, such as a bank of five neighboring machines. As a result, these jackpots don’t get quite as high as their wide area progressive counterparts but can still reach multiple thousands of dollars.

Wide Area Progressive Or Linked Jackpots

Wide area progressive jackpots take from every dollar put into a large number of machines. Because they can pull from a wider pool of players (even across multiple casinos), these jackpots can reach much higher amounts. These are the jackpots that can reach hundreds of thousands of dollars or higher.

Need Help? Slots Have Guides Built-In

If you’re having trouble figuring out how a slot works, try clicking the “Help” or “?” button. Most video slots and all online slots have this option. It will open a page that tells you the value of each symbol, how to hit the bonuses, and more helpful info.

If you’re playing on a mechanical slot machine on the casino floor, you can always ask a casino employee for more information.

The Slot Fan’s Guide to Olden Day One Arm Bandits

A quick search on eBay reveals some interesting results for antique slot machines. Few people would believe that archaic devices with minimal spinning reels and a handful of symbols could be worth a small fortune. Collectors know better. Slot machines from the 1930s and 1940s can fetch a pretty penny, depending on their condition, brand name, and rarity. For example, an Antique 1930s Mills War Eagle 5 cent Nickel Slot Machine can fetch as much as $2,595 on the market. These contraptions are typically a little worse for wear, and they may not have all their original working parts. In the United States, there are rules in place which regulate the sale of antique slot machines, and certain states may not qualify.

If you’re looking to spend a small fortune, you may be on the prowl for an antique 1899 Mills 5c Dewey slot machine. This device retails for $16,800, and it is in its mint, original condition. These devices were expertly crafted, full of intricately detailed artwork and mechanical parts. If the sticker price is a little steep, you may wish to consider the Mills Novelty Company Owl Slot Machine antique at a price of $15,750. These slot games are worlds apart from the video slots we see nowadays at land-based casinos and online casinos. These are fully functional freestanding machines with ball and claw feet, solid oak carved frames, and beautifully-furnished metal housing. It’s always important to check for damage, especially with the wood items.

Specs of Antique Slot Machines

The Antique range of slot machines are extremely expensive, and can retail at $19,000+ apiece. The original machines were created around 1906, and have a devout following among slot machine collectors and gaming experts. Many slot fans choose to refurbish their antique slot machines, to keep them in pristine condition. The antique slot machines business is a roaring trade, with a niche market of highly motivated buyers and sellers. Only the most skilled technical experts in slot machine restoration professionals can work in this arena, since customers are highly specific and detail oriented when it comes to these high-priced antiques. The typical weight of an antique slot machine ranges from 75 pounds through 100 pounds. Their dimensions are typically 16” x 16” x 28” in height.

Mills Slot Machine Value Guide

There are many examples of popular antique slots, including the following:

Mills Slot Machine Value Guide

• 1941 Mills Diamond Front
• Mills Hi-Top
• Mills Bursting Cherry
• 1938 Mills Roman Head 5 Cent
• 1946 Jennings Super Deluxe Club Chief
• 1935 Watling Coin Front 25 Cent
• 1947 Mills Black Cherry 5 Cent
• 1933 Watling Treasury 5 Cent
• 1948 Mills Blue Bell 10 Cent
• 1950 Pace Four Reel Harrah’s Club 10 Cent

Jennings 400 Slot Machine Value Guide

The price of an antique slot machine may range from a few dollars to as much as $50,000 +, depending on its condition, rarity and how much the buyer is willing to pay for it. Many antique collectors seek these devices as decorative pieces, or as investments for posterity. The most common brand is Mills, both with its Golden Nugget slot machine and its Orange Front QT slot machine variants.

Slot Game Variety Over the Years

Believe it or not, various slots enthusiasts consider any slot machine created after 1930 as a contemporary slot machine, and not an antique. These contemporary machines are largely comprised of replacement parts, and many of them have been fully restored and tested. The cost of these machines is less than those with a limited number of replacement parts. If you’re looking to buy an antique slot machine, it is best to select a machine that is relatively untouched, and in its original mint condition. Once restoration work has begun, the perceived value of the machine diminishes. If you find an e-commerce platform selling a 1930s/40s slot machine under $3,000, it is likely a contemporary machine with replacement parts.

The strict definition of an antique is a collectible object that has a high value because of its considerable age. In the United States, the Customs Service regards antiques as items that are at least 100 years old. With slot machine games, antiques are considered old-school slot games – typically the 3-reel classic slots. Nowadays, players can enjoy sophisticated HD slots with 5 spinning reels and hundreds of paylines. Video animation, 3D technology, and a virtual presence are worlds apart from the physical nature of antique slot machine games. Online slot games offer a modern-day perspective on this age-old pastime. You can still experience the classic slot titles online, except that now you have far more variety in every way.