Last Updated on July 20, 2022
Written by CPA Alec Pow | Content Reviewed by Certified CFA CFA Alexander Popinker

A lot can be said about a slot machine – many good things! Of course, not everything can be positive, because gambling can lead to addiction. But if you are moderate and can maintain the necessary balance, you will only enjoy the fun. Games of this type are, in fact, fun, but by no means a source of income.

The first game of this kind was a wheeled device, and today we meet it under the name of slot machine. Some also call them fruit machines, because most games are with fruit.

How Much Does a Slot Machine Cost?

If you are planning on buying a slot machine, be prepared to pay around $250 for a novelty model to as much a $3,500 for a higher-end model like those you can find in professional casinos. These estimates are available for second-hand slot machines purchased by those who want to play at home.

On the other hand, when we talk about the slot machines purchased by casinos, these would cost much more. According to experts, the cost of an official casino slot machine is around $22,000. For example, Bally charges almost $10,000 for a slot machine, while the manufacturer Multimedia Games sells its slot machines for around $19,000 each. In the end, the costs will depend on the quality of the hardware, the intellectual property it represents, title and manufacturer.

You might also like our articles about the cost of arcade games, lottery tickets, or Bingo games.

You can purchase a cheaper slot machine from the retailer Gambler’s Paradise with $650 to more than $3,200.

In the table below you will find the average costs of different second-hand slot machines.

Type of Slot Machine Average Price
Williams Slot Machines $700 to $2,100+
Video Slot Machines $450 to $1,700+
Jennings Slot Machines $1,700 to $3,400
IGT Slot Machines $450 to $750
IGT Game King $1,300 to $2,750
Bally Slot Machines $150 to $900
Antique/Vintage Slot Machine $1,100 to $3,300

Slot machine details

In general, there are two types of slot machine, computerized and mechanical.

Slot machines are games of chance that do not require much preparation or memorization of rules. The action is simple. Pull the lever or press a button that moves the drum mechanism, and the result is displayed on the screen shortly. These machines are not designed to give players greater or lesser chances depending on various external factors.

The whole mechanism is based on a random algorithm, which can offer consecutive winning spins or many losing hands. What is certain is that the owner of such mechanical games wins a small part of the bets.

What are the extra costs?

Depending on how much you will use a slot machine, you will have to take into consideration its repairs. There are machines that may be more difficult to repair than others, while some will rely on a battery that has to be replaced over time. This needs to be replaced even though you don’t use the machine for a long period of time.

According to an eBay guide, a common problem the slot machine owners are confronted with is a lost door key. In case this happens, you will have to buy a new one for around $25, learn how to drill and barrel the locks or hire a locksmith.

Be prepared to pay for the freight shipping because of the size of the slot machine.

Important things to consider

Slot Machine TypeIf you are thinking about purchasing a slot machine verify the legal implications beforehand. Owning a used slot machine is illegal in nine states including Wisconsin, Alabama, Tennessee, Connecticut, South Carolina, Hawaii, New Mexico, Indiana and Nebraska. In the other 41 states it is legal to have your own slot machine.

Also, in 17 states there is a law that says that you must be a minimum of 25 years old to use a slot machine.

Many players believe that slots strategically placed, fixed at the entrance or close to the door will pay more and more often (these are also called “loose slots”). The truth is that the place where the devices are placed has no relevance because the results are decided by the payment rates and the mathematical algorithm.

Today’s slot machines are capable of generating up to 16 million combinations of numbers and are controlled by chips and software enhanced with dozens of anti-fraud algorithms. Moreover, most casinos order sets of devices from the same developer, so they will all offer the same payment rates no matter where they are located.

Slot games provide up to 80% of a casino’s revenue. But that doesn’t mean they’re not generous with the players. The slot machines return in the form of prizes up to 90% of the amounts bet by the players. This does not mean that 9 out of 10 players will win the big jackpot. Slot games offer small amounts of money to daily players, and the rest are accounted for the impressive jackpots.

How can I save money?

You will be able to save up to 50% if you will purchase a used slot machine instead of a new one.

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