The American Heritage Dictionary Defines Slot
The payback percentage of a slot machine is the proportion of money put in to the amount of money won. For example, if you spent $1 on a slot machine with 20 paylines, you would win 50 cents if you won on every single payline. But if you won on two paylines, you would still win 50 cents, so in this case, you would lose fifty cents, but your payout would still be listed as a net winner.
In the fifth edition of the American Heritage Dictionary, the word “slot” is defined as “a narrow opening that receives and stores something.” It’s a slang term that can apply to both a guy and a girl. The definition of the word “slot” is quite varied. The most popular usages are to receive something from an object or to improve airflow. In addition, the verb “slot” is also used to mean “to put something into a slot.”
As a verb, slot is transitive and intransitive. In simple terms, slotting means to put something into a slot, such as a lock or a drawer. It can also refer to the interior opening of a copy desk. A chief copy editor occupies a slot in a newspaper. The broader meaning of the word “slot” is “a job opening” or “an assignment.” Another example is an airport authorization slot.