Paper Lanterns Demo & Review 2026 – RTP, Features & Latest Wins!

Looking for a Paper Lanterns review or want to try Paper Lanterns before playing for real? You're in the right place. Developed by Mascot Gaming, Paper Lanterns is a medium high volatility slot with an RTP of 94.91% and a maximum win potential of 5,000x your stake, with an engaging visual design. With 30 paylines and a 5-reel, 30-payline layout, it delivers engaging gameplay.

Written by Michael Torres · Last updated: January 2026

Paper Lanterns Review – Game Overview

Paper Lanterns is a slot developed by Mascot Gaming with an engaging visual design. The game features a 5-reel, 30-payline layout with an RTP of 94.91% and medium high volatility, offering impressive win potential for players of all experience levels.

Pros

Impressive max win of 5,000x
Available to play for free in demo mode
Mobile-optimised for play on any device
HTML5 technology for smooth gameplay

Cons

Below-average RTP at 94.91%
Limited bonus features
No scatter symbol feature
No bonus buy option available

Paper Lanterns RTP & Volatility

Return to Player (RTP)

94.91%

The RTP of 94.91% is below the industry average of ~96%. This is common for older slots or those with special features. The lower RTP may be offset by unique mechanics or higher maximum win potential.

Volatility

Medium High

Medium-high volatility means wins come less frequently but tend to be larger when they hit. Players should be prepared for dry spells between bigger wins, requiring a moderate bankroll.

Maximum Win

5,000x

Hit Frequency

~30%

About 1 in 3 spins results in a win. This is a moderate hit frequency that balances win frequency with payout size.

Final Verdict

3.0 / 5 — Good

Paper Lanterns by Mascot Gaming is a solid offering that delivers good entertainment value. The 94.91% RTP combined with medium high volatility creates a well-balanced gaming experience.

Paper Lanterns – Frequently Asked Questions

What is the RTP of Paper Lanterns?: The RTP of Paper Lanterns is 94.91%, which is slightly below the industry average of ~96%. RTP stands for Return to Player and represents the theoretical percentage of wagered money that is paid back to players over time.
What is the volatility of Paper Lanterns?: Paper Lanterns has medium high volatility. Medium-high volatility means wins come less frequently but tend to be larger when they hit. Players should be prepared for dry spells between bigger wins, requiring a moderate bankroll.
Can I play Paper Lanterns for free?: Yes! You can play the Paper Lanterns demo here on GamesReviews with no registration or deposit required. The demo version plays identically to the real money version with the same RTP, bonus features, and mechanics.
What is the maximum win in Paper Lanterns?: The maximum win in Paper Lanterns is 5,000x your total stake. This is an impressive max win that can be achieved through the game's bonus features and special mechanics.
Is Paper Lanterns available on mobile?: Yes, Paper Lanterns has been fully optimised for mobile devices using HTML5 technology. It runs smoothly on all modern iOS and Android devices, with responsive touch controls and auto-scaling to fit any screen size.
Where can I see the Paper Lanterns paytable?: You can view the full Paper Lanterns paytable by clicking the info or menu icon within the game. The paytable shows all symbol values, winning combinations, special symbol functions, and bonus round rules at your current bet level. We recommend reviewing the paytable before playing to understand the payout structure.
Can I play Paper Lanterns for free without registering?: Yes. Paper Lanterns free play is available right here on GamesReviews with no registration, no download, and no deposit required. Simply load the demo above and play with virtual credits to experience all the game's features risk-free.