Slot machines date back to the late 1800's. They didn't become popular until the 1940's. In the 1990's, with the gambling development boom including river boats and Indian reservations, they became a huge hit. Now, slot machines have evolved into sleek machines that are controlled by a computer chip.
On the old machines with just three reels, your chances of hitting a jackpot were 1 in 8,000. Now, with the new technology, your chances of hitting a jackpot are almost unthinkable.
Most of the slots you will play are scheduled to pay back somewhere between 75-99% of the money you play. Because of the randomness put forth into these machines, you will find that your short-term results will vary quite a bit.
You should also know that if the machine you are playing on has more than one payline, you will most likely have to put in an extra coin or bill for each extra payline to be eligible to win on the other lines.
If you want to play a slot machine with several paylines, a flat top, or a progressive with a big difference in payouts for the number of coins played, again, don't forget to put in the extra cash folks.
Slot Machine Tips
First and foremost, there is no such thing as a 'hot' or 'cold' slot machine. Due to the random number generators located inside the machine, the possible symbol combinations are always changing. Every outcome is random and is not defined by the previous outcome.
You should look for machines that have a guaranteed higher payout of between 95 to 99%. You should also know that these machines usually cost a dollar or more to play. If you are playing in a casino and not online you can always ask an employee where the better machines are to play.
Do not buy into all the myths you will most definitely here other players around you talking about. For example, pulling the arm on the machine instead of hitting the button, does not increase your chances of winning.
Because the random number generators on progressive slot machines have a higher number of reels and symbols, slot players have better odds at winning when playing flat rate slot machines.