A slot is a position within a group, series or sequence of things. A slot is also a name for a machine that holds or accepts a paper ticket with a barcode, which can then be redeemed for cash or other prizes.

In slot games, a player can win by landing symbols on a payline, with each symbol having its own specific value according to the game’s pay table. This can be shown on a screen as a small table, often in bright colours so that it’s easy to read and understand. Sometimes the pay tables fit in with the theme of the slot game, with colourful graphics and animations to go along with the information.

The jackpot is also a feature that’s built into the maths of each slot machine, and the random number generator inside the software decides when to trigger it. This can be a fixed probability event, or it can be triggered by other events such as total staked or the number of players playing. Some slots have a “must-hit” or “must-pay” amount, which can be helpful for avoiding big losses if you don’t hit the jackpot.

An airport slot allows an airline to operate a flight at a particular time, and it can be very valuable – a slot for Heathrow was sold in 2016 for $75 million. Airlines compete to secure slots at congested airports, and they can be traded or auctioned.