Slot tournaments are the fairest of all tournament games, because they place the smallest premium on skill. Tournaments that give players a set amount of credits and unlimited time to play them incorporate no skill factor whatsoever. If everyone contesting a tournament gets to pull a slot handle the same number of times, the winner will be determined purely by luck.
Some tournaments, though, limit the rounds to a set amount of time, often 30 minutes. This format allows fast players to gain a small advantage by getting in more pulls. The following strategy enhancements will help you in these "timed" tournaments. Though the suggestions may seem obvious, they're routinely ignored by slot tournament players.
We've seen formats (especially in Atlantic City) that use a single meter that increases with winning combinations and decreases with losers (acting much like a meter in actual play). This complicates things somewhat, since you risk lowering your tally every time you take another spin. If you're lucky enough to play in the last round, you might be able to determine a good stopping point by monitoring the best scores from the early rounds. If you have to play early, you'll have no choice but to set a lofty goal (a score that you think has a good chance of winning) and just play away until you reach it. As in most tournament play, as a rule, aggressive is better than cautious.
Finally, the best thing you can do to enhance your prospects for winning at slot tournaments is to devote your time to identifying tournaments that return the highest percentage of the entry fees ("equity") and those that offer the best perks for playing ("vacation value"). These are different considerations than just wailing away at a spin button; analyzing equity and vacation value is discussed in many Huntington Press publications.