Real Money Slot Machines
Slot machines that accepted coins and paid out money were introduced in 1899 by Charles Fey. His first slot machine was called “The Liberty Bell”. It was a 3 reel slot machine with various symbols including the featured symbol which was a cracked liberty bell. The first machine was placed in a San Francisco saloon as a trial. The machine was so popular that Fey quit his job and started developing as many slot machines as he could. He was the only person at this time developing slot machines, and he made a very nice living for himself.
In 1909, Stephen Mill saw the opportunity to capitalize on Fey’s invention. He altered Fey’s original design making the slot machine smaller and easier to install. The smaller machine was widely accepted by businesses and quickly became a hit.