How Much Does a Slot Machine Cost?
By
Jerry Smith
Staff Writer Updated: 10/28/2022
Jerry’s greatest advantage is his extensive experience on the casino floor. His time as a casino manager taught him everything about what makes a player tick. Besides being a skilled poker player, he has deep knowledge of all live table games and gambling regulations in the US.
How Much Does a Slot Machine Cost
You must be painfully familiar with the concept of shower thoughts as you likely have those almost daily. You think of something ridiculously random that you don’t know and you end up googling the hell out of it until you find the answer.
Well, if you ever wondered how much a slot machine costs while having a shower or trying to fall asleep, look no further. We will answer this odd, yet interesting question.
How Much is it to Buy a Slot Machine
The short answer as to how much a slot machine costs – a lot. Like, a lot, a lot. But we are sure this brief answer will not satisfy your burning desire to discover how much a casino slot machine costs, so we will break down the price and we’ll explain exactly why it’s so expensive to buy one.
We will go through the elements that make up a slot and tell you how much each costs. So, enjoy this incredibly detailed article on the price of slot machines. After reading, you might want to play online slots in the US.
- 📜 The History of the Slot Machine
- 💰 Cost of Slot Components
- 🧐 Explaining the Components’ Cost
- 🎰 Buying a Slot Machine
- 🤑 Gambling Machine Price
The History of the Slot Machine
Charles Fay was an innovator from the Bay Area who in 1894 unveiled his new odd creation – the Liberty Bell. The Liberty Bell was a three-reel slot machine with a single payline that was exceptionally sophisticated for the era it was produced in. It had many of the features we know and love today, including a fully automated payout system.
Liberty Bell took the Bay by storm and soon the whole country followed. Slot machines could be found at drug stores, taverns, and many other public spaces where everyone could try their luck.
In 1907, fruits became the paying symbols, previously it was card symbols only, and now many retro slot machines have both. In the next decade, Mills Novelty Co. created the stop button that locks in the reel for (perhaps) a better chance to win.
In 1963, the first electromechanical slot, Money Honey, was unveiled by the Illinois company Bally. A few years later, in 1976, the first video slot machine was invented and the graphics only got better over the years.
It is not clear when the online slot was created, but it must have been around the end of the 1990’s. One of the first states to offer legal online slots was none other than New Jersey. If you are in the state, you can legally play online slots in New Jersey from your smartphone or computer. Although online slots have become increasingly popular, there is still a place in everyone’s heart for a little old-fashioned fun.
The Cost of Slot Machine Components
Now that we know how the slot came to be, we should go straight to business and discuss how much does a casino slot machine cost.
A slot machine is made out of various different components that have to be sourced from different places, which naturally, increases the price even more. We will mention the main components that make up a slot machine, because we doubt you have the time to read about every button and switch. Here they are and their estimated price:
| Component | Cost |
|---|---|
| Slot housing | ~$1,000 |
| LCD Display | ~$300-$500 |
| VGA Convertor | ~$100 |
| Embedded Game Board | ~$100-$1,000 |
| Game Software | ~$300-$5,000 |
| Security System | ~$500 |
| Cash Dispenser | ~$400 |
| Connection and Transferring | ~$100 |
The price for each of these components greatly varies, as you can imagine. For instance, you can find relatively cheap games for slots; you might be surprised to know that some game software goes for $300 and less, but more popular titles can cost upwards of a few thousand dollars. These are generally reserved for larger casinos such as the casinos found in Las Vegas, Nevada.
In addition, since most people and businesses that purchase slot machines are not looking at buying just one, aka they buy in bulk, so they can get discounts for each of the parts that make up a physical slot machine.
Explaining the Costs Behind the Components
We realize that you might not know what each component does, and therefore you will not understand its price either. Let us briefly explain the role of the slot machine components and why their price is so volatile.
The slot housing is a pretty self-explanatory part; it’s the casing in which all components are put. Most slots are made out wood and some metal, so you now might be asking yourself why it’s so expensive. Well, it’s not just the outer shell, it also includes buttons, lighting, card readers and so on. There’s a reason why it’s the most expensive component.
The LCD display is another self-explanatory part. It’s the screen on which you will play the game and if you’ve ever gone shopping for a TV screen, you know that little differences can greatly affect the price; a slot’s display is no different. The size of the display and the features (such as touchscreen) can quickly increase the price.
The VGA convertor might be a part you don’t know you need, but it’s integral. It stands for Video Graphics Array, and it enhances the graphics of the screen, and it also established connection between devices. It’s quite cheap, which is good.
The embedded game board installs the game software and it ensures that it works properly. As you can see, the price range is quite wide; this is mostly affected by the number of game software the game board supports.
The game software is quite literally the slot game you buy. It also has a very wide price range based on the quality of the game and how popular it is. If you require an on-site installation, you’ll need to pay some more. It’s generally the most expensive part of a slot.
The security system is an important component of a slot machine. It ensures that the slot cannot be hacked and that nobody can cheat to win. Then comes the cash dispenser, which, well, gives you the cash. Most of them work the same way, so the price range is more contained.
The connection and transferring system is a relatively new addition to physical slots. It uses Wi-Fi and/or Bluetooth to run the games. Most contemporary slots cannot work on their own so to speak. Luckily, it’s one of the cheapest components.
Buying a Slot Machine
There are a few things you should know before you start looking into buying a slot machine. To begin with, if you want to use your new slot machine to profit from it, you must follow the local gambling laws and apply for a license, if necessary.
You’ll find out that there are many regulations concerning the device (slot machine) and the games. You have to adhere to them if you want to use it in your business. This is why eBay is not a good choice to source your slot machine from. There are many great finds there, but most of them are old and do not conform to the current standards.
Gambling and Slot Machine Prices
So how much does a used slot machine cost? Well, you can find anything from $200 up to thousands of dollars on sites like eBay or flea markets. This includes some rare slot machines that are class. If you want to buy one to place at home, go ahead and browse the offers. You’ll be sure to find good deals.
Casinos and other establishments, however, have to be diligent and cannot afford to spend thousands on slot machines sold by random sellers online. Most of the time, they have an expert who evaluates the machine/s to make sure they get a good deal for it.
It’s rare, but not impossible, to source each of the parts individually and build your own slot machine. It will however cost you a lot of time and effort to do so, and you might need professionals to do the job for you. It is, however, possible to be able to do it and get it for cheaper.
Still, most casinos choose to get their slot machines from reputable slot manufacturers. If you remember our section on the history, Bally, which created the first electromechanical slot machine, is still in business and it sells a lot of slots in the US.
They don’t display the gambling machine price online, but some sources place the cost at around $10,000. IGT, another famous company, sells their slots for about $15,000. Still, take this information with a grain of salt, because as this article has shown, a slot machine cost is affected by many factors and thus the price will greatly vary.
Generally, a new slot machine will cost between a few thousand dollars to up to $25,000. While we told you earlier that you shouldn’t buy a used slot machine from eBay for your business, as they will likely not have appropriate licenses, the same is not true for some reputable companies selling used slot machines.
All in all, make sure you properly research the market before you commit to a slot machine. Since the slot machine price can vary so greatly, it’s your job to explore various options before you eventually settle on one.
