Online Slot Tournaments
I think that online slot tournaments is one of the best ways that you can actually make money playing slots if you don't want to get yourself to invested financially.
That's the thing I like most about online slot tournaments, they are very inexpensive to play and there is almost no risk of losing a lot of money (unless you rebuy back into the tournament lots of times).
How Slot Tournaments Work
In general, there are two different types of slot tournaments that you can play. There are timed slot tournaments like the ones that you can play Rushmore Casino or Slots Oasis.
Here is how a timed slot tournament works:
You have to buy in to the tournament. Sometimes the buy-in will be free. This is called a freeroll tournament. You will be given a certain amount of credit to start the tournament. The goal is to post the highest score before the tournament as a whole ends.
You will be given a time limit (usually 5 or 10 minutes) to use your beginning credit and try to win as much money as possible before the time runs out. When time does run out, that is your final score. The best final scores win money.
You will have the option to buy back into the tournament and try to post another score.
This kind of slot tournament has less strategy and more luck involved. Your only decision is to select how much you want to bet on a spin and spin the reels as fast as you can.
More Slot Tournaments
The other main type of slot tournament is the kind that you will find at Online Vegas or English Harbour.
In these tournaments, there is a start date and an end date. A lot of online slot tournaments can last a week to a month. Otherwise one to three day slot tournaments are also popular.
The rules are simple: a featured video slot game is chosen. All buy-ins will receive the same amount of beginning credit. The difference is that there is no time limit, except the end date of the tournament.
You have until the end of the tournament to post the highest score possible. The top X number of people (usually top 20 to 100 or so) will win money for placing in the tournament.
This type of slots tournament is a great way for inexperienced slots players to "learn" how video slots tend to work in general. This is because in order to win money in the tournament, you probably had to spin the reels a couple thousand times.
You will start to learn the tendancies of the particular slot machine that you are playing. Here are some things you need to be aware of when you are playing in an online slot tournament:
How often does the bonus round hit? How often do free spins hit? How often does a 10X bet win hit? And so on.
What this allows you to do is try to time your betting pattern with when you think the larger payouts will occur.
Here is a screen picture of my best ever slot tournament payline hit. This was the top possible single payline hit of all 5 substitute symbols.

You can see in the bottom left corner my tournament balance, total number of spins and my current ranking in the touranment. I was kind of bummed because I just dropped down to $1.25 bet per spin after betting $5.00 for a while. The $5.00 bet would have won $1029 had I not dropped the bet.

