Winning at Online Slots – How to Optimise Your Chances

Posted by Harry Kane on Friday, December 15, 2023

The iGaming sector in the UK generated $6.4 billion in GGY through last year, with casino games alone producing revenue of £3.9 billion. Incredibly, slots account for 76.92% of the online casino GGY, generating revenue of £3 million in 2022.

Slots are essentially games of chance, however, as their outcomes are dictated by advanced random number generator (RNG) software. So, how can you optimise your chances of winning or least minimise the risk of loss? Here’s our comprehensive guide to help you learn more!

Getting Started with Online Slots – The Gameplay Basics

No matter which iGaming vertical you target, knowledge equates to power. In this case, understanding online slots and their key gameplay components helps you to stake your money more effectively, while also making it much easier to identify the games that are best for you!

Below, you’ll find a brief exploration of several seminal gameplay elements, each of which impacts your potential enjoyment of an individual slot title and the amount of money you can expect to recoup over time. They also enable you to see how online slots vary when compared with alternative iGaming verticals!

#1. Paylines and Grid Structure

Typically, contemporary online slots feature 5×5 reel grids, which are home to anywhere between five and 50 paylines. In this common grid structure (which may also take on a 5×3 shape in nostalgic, fruit machine-inspired games), paylines usually run horizontally from left to right, while you can find a classic ‘paytable’ that lists every potential winning combination.

However, some software houses have built unique and expansive payline models, which unlock thousands of ways to win and huge multipliers. Take the innovative ‘Megaways’ reel mechanism, for example, which may feature between 243 and 117,649 paylines and introduce variable winning combinations from one spin to the next.

This system works by introducing additional reels and symbols adjacent to the main grid. Megaways also ensures that paylines can pay vertically and horizontally, maximising your chances of winning every time you spin the reels. This doesn’t mean that you’ll end up in profit, of course, but it does create more frequent payouts at least.

As you can see, the grid and payline structures featured in a particular slot game will have a direct bearing on your gameplay experience, especially in terms of the frequency and size of individual payouts. The use of additional paylines also creates greater scope for more in-game features, such as bonus rounds, free spins and increased multipliers.

#2. The Impact of Variance

Before we delve deeper into paylines, it’s important to consider the interconnected idea of variance. You can find low, medium and high variance slots at most online casinos, each of which payout at variable rates and are synonymous with different rates of return during base game and bonus round gameplay.

More specifically, low-variance (or volatility) slots are likely to deliver more frequent (albeit relatively modest) payouts. Conversely, high-variance slots trigger a low frequency of payouts but potentially higher individual prizes, while this type of gameplay is commonly associated with progressive or larger jackpots.

Unsurprisingly, mid-variance slots tread the fine line between these two examples, as they look to combine relatively frequent payouts with sizeable returns to create a lucrative incentive for players. However, this category is much harder to accurately define, so you’ll find that the majority of slots are classed as being either low or high variance.

As we’ve touched on, the terms ‘variance’ and ‘volatility’ may also be used interchangeably when discussing online slots. However, they essentially describe the same thing, and understanding a slot’s level of variance can help you to determine whether it suits your bankroll or outlook as a player.

#3. The Return-to-Player (RTP) Rate

Similarly, each slot has its own return-to-player (RTP) rate. Not only is this a determining factor when it comes gameplay, but it also lets you estimate a title’s variance level. What’s more, you can use the RTP rate to calculate the house edge when playing a particular slot, which also leads to more informed decision making over time.

But how does the RTP rate work? In simple terms, it’s expressed as a percentage and reveals how much you can expect to recoup for every £100 that you stake. For example, if you play a low variance slot with an RTP rate of 97.10%, you can expect to recoup £97.10 for every £100 that you wager on average.

In terms of correlating a slot’s RTP rate and variance, you should note that games with a higher RTP (usually 96% or above) will usually be classed as being low volatility. Conversely, slots with an RTP of between 89% and 94% will be categories as being high variance. For titles with an RTP rate of between 94% and 95%, it’s not uncommon for them to be described as medium-variance games.

If you want to calculate the house edge, simply take a slot’s online RTP rate (which must be published by each operator and development team according to guidelines from the UKGC) and subtract this value from 100. If we take the aforementioned slot with an RTP rate of 97.10%, for example, we will simply subtract this sum from 100 to create a house edge of 2.9%.

Creating a Winning Slots Strategy – The Key Considerations

At this stage, you should have an understanding of how slots work and their key gameplay elements. However, this knowledge and comprehension must be underpinned by an acceptance of the opportunistic nature of slots, which are categorised as games of chance that deliver random, deterministic outcomes.

This means that you cannot identify patterns in online slots results or payout, or create strategies that tangibly impact outcomes and directly improve your chances of winning. However, there are strategies that allow you to minimise your risk of loss when playing online slots, and make the absolute most of your starting bankroll. Here’s some to keep in mind!

#1. Analyse the Key Gameplay Elements and Familiarise Yourself with a Slot Game

As you can see from the above gameplay elements, not all slots are created equal. However, the good news is that these components can be used to compare and contrast available games, which in turn helps you to make more informed selections when choosing from online slots’ libraires that regularly feature hundreds of titles.

Historically, the best way to appraise a slot’s gameplay was to access the title in free play or ‘demo mode’. This enabled you play the slot directly online, accessing the full extent of its base game and bonus round gameplay without having to wager your hard-earned bankroll. This feature was widely available across most online casino platforms.

However, the UKGC moved to ban the use of demo games last year, under the belief that this incentivised players to stake real money on online slots and contributed to problem gambling behaviour in the UK. This means that players no longer have access to demo or free play slots, making it harder to test games before playing with real money.

So, how can you analyse slots to determine whether they’re right for you? Well, one step is to check out online reviews of the game in question, either through independent comparison sites or first-hand, customer reviews. These resources can offer insights into a particular game, including the quality of its gameplay and payout frequency.

We’d also recommend confirming a slot’s RTP rate before you gamble real money. The reason for this is simple; as it enables you to calculate how much you can expect to recoup for every £1 or £100 that you wager online. It may also offer some insight into the variance level of a specific slot, which makes it easier to identify games that are compatible with your risk appetite.

#2. Don’t Fall for the Charms of the ‘Max Bet’ Button

Whenever you play a progressive slot game, you’ll notice that contending for the top prize or jackpot requires you to consistently wager at the maximum stake level and coin value. You’ll usually have to unlock all available paylines too, which can dramatically eat into your bankroll and make it hard to wager responsibly over time.

In other types of slots, you’ll usually have the option to wager at the maximum limit or hit the ‘Bet Max’ button. The latter automatically boosts your stake to the maximum level before you set the reels in motion, while enabling you to pursue the maximum potential payouts that are on offer.

While it may be tempting to bet at the max level and pursue the biggest possible returns, however, this is often a counterproductive strategy. After all, this approach may cause you to lose a significant percentage of your bankroll before you’re able to even land a single winning combination, while the eventual payout may not fully recover your losses when playing a high variance slot.

Instead, you should play your chosen slot game with a wider bankroll management strategy in mind. This will encourage to avoid over-committing and only ever wager an amount that you can afford to lose, while keeping your stake amounts within a fixed range. The same principle should also apply to setting coin values and activating paylines if you intend to wager responsibly.

At the same time, we’d recommend tailoring your stake amounts based on the RTP rate in play. Remember, low variance slots will see you recoup more of your bankroll over time, so if you’re a casual player with a relatively small bankroll, this may be your best bet for playing responsibly and making the most of your cash flow!

Never, Ever, Chase Your Loses

If we accept that playing a low variance slot game with an RTP rate of around 97% will naturally minimise losses and help you to make the most of your bankroll, then this is clearly crucial to any slot betting strategy. However, this should also be underpinned by the right psychological state, which must regulate how you treat wins and losses over time.

For example, the whole objective of minimising losses is based on the certainty of loss when playing online slots. Remember, the highest RTP rate associated with any online slot is around 98%, which means that the house retains at least a 2% edge whichever game you play. So, you’re almost always going to lose a percentage of your bankroll, notwithstanding an unlikely winning streak or huge progressive jackpot payout.

This knowledge should inform every aspect of your strategy, while preventing you from chasing losses at all times. As RNGs are used to dictate slot game outcomes, you may embark on extended losing streaks where no winning combinations are struck (depending in part on the variance of your chosen game). This is unavoidable and cannot be changed, so chasing losses at this time will simply see you lose more of your bankroll.

The same principle applies to building on winnings. For example, you may land two or three winning spins in a row, which can in turn create an elevated emotional state that alters your judgement. This could encourage you to ramp up your stake amounts in the mistaken belief that you’re embarked on a ‘winning streak’ and may see you lose your winnings before you’ve been able to bank them!

Instead, it’s much better to stick consistently with affordable coin levels and stake amounts, while prioritising games with the desired level of variance and RTP rate. This enables you to sustain losses over a short period of time and help make the most of any winnings that you bank, while contributing to a well-rounded psychological state that’s capable of making truly informed decisions!