Etymology[ edit ] The "slot machine" term derives from the slots on the machine for inserting and retrieving coins. Plaque marking the location of Charles Fey 's San Francisco workshop, where he invented the three-reel slot machine. The location is a California Historical Landmark.
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Also known as volatility or payout frequency, variance refers to how often a slot pays out jackpots, and the size of the winnings. Slot variance can be broken down into three types: Low variance slot games - these games land wins frequently, but the amounts are usually small token jackpots.
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