A slot is a narrow opening, as a keyway in machinery or a slit for a coin in a vending machine. It can also refer to a position in a group, series, or sequence. In computers, a slot can refer to a memory location or a place for an expansion card (such as an ISA, PCI, or AGP card). See the motherboard definition for a visual example of these slots.
There are a number of misconceptions about playing slot machines. One is that a machine that has gone a long time without paying off is “due” to hit soon. This is not true, and the fact that a machine has been up for a while does not guarantee it will continue to be so. In addition, many players play with money they cannot afford to lose and end up chasing their losses, costing them more than they would have lost had they played with less money and walked away when they were ahead.
Keeping your gambling costs down is the best way to minimize your losses. It is advisable to play only one machine at a time, especially if the casino is crowded. If you play more than one machine, you may be inadvertently pumping coins into machines that are not accepting them. Even in a light crowd, you should limit the number of machines you play, so that you can watch them all easily. It is also a good idea to avoid playing for too long in a single session, as this can lead to bad decisions and expensive mistakes.