A slot is a narrow opening in a machine or container, for example a hole that you put coins in to make a machine work. The term is also used to describe the area in a slotted wing of an airplane that allows airflow for a high-lift device such as an aileron.
The pay table is a list of symbols that can be matched up to complete a winning line on a slot machine. It is a part of each machine and is usually listed on the face of the slot, though it may be contained in a help menu on video slot machines.
The payout percentage, or return-to-player rate, of a slot machine is an estimate of how much the game pays out to players over time. The theoretical rate is set at the factory when the software is written and is not changed after the machine has been installed on a casino floor.
A slot hold is the average amount that a slot machine holds over a period of time. The higher the hold, the more money a casino expects to receive for each dollar wagered on the machine.
Some casino owners are seeking to lower the slot hold of their machines in order to increase guest satisfaction and increase visitation. However, it is difficult to quantify whether a lower slot hold will result in increased visitation or not. Nevertheless, it is likely that a lower slot hold environment will benefit guests who are wallet-constrained as well as those who are time-constrained.