If you are a bonafide slot player, then you may have graced many a slot machine with varying stakes in possible wins. Higher-stakes slot machines feature betting limits as low as $5 so you can budget your bankroll accordingly. However, have you heard of penny slots? These are slot machines where you can bet as little as $0.01 per spin with some maximum bets being up to $2 to $5 for each spin depending on your betting strategy.