A slot is an opening in a piece of wood or metal. It is typically rectangular, but can be oval or round as well. A slot is also an opening in the body of a machine or in a machine component. The slot can be used to hold a lever or button for actuation, to accept a coin or paper bill, or to hold the revolving wheel of a fruit machine.
In a casino, the slot is an area of the floor reserved for the placement of progressive jackpot machines. The idea behind this is to make them more visible, increasing the likelihood of a player hitting one and making the machine “hot.”
The payout odds for each individual slot game are displayed on the paywindow of each machine in either an odds format (for example, 50 : 1 or ’50 to 1′), a multiplication coefficient (for instance, x50), or as a percentage of total credits/coins. These payout odds are inversely proportional to probabilities, with higher probability symbols occurring less frequently than lower probability symbols.
While it is tempting to believe that a machine that hasn’t paid off in awhile is due, this just doesn’t pan out logically. Each spin of a slot is a new start. Even if you played through several long losing streaks, you’re not going to get the “due” hit that’s been waiting for you.