A slot is a time or place that someone or something can take. For example, if you have an appointment at the library, you can visit at your assigned time slot. Slots can also be used for project deadlines in work schedules. They help to organize projects and support consistency.

If slot machines never paid out, players would stop playing, and casinos would go out of business. So, casinos have to set some kind of minimum payout, and the percentage of total spins that hit is called the house edge. If you’re playing slots, it’s important to understand the math behind the game so that you can bet responsibly and minimize your losses.

Casinos want to maximize their all-important slot revenue, but they don’t want to raise the price too much, because people can sense hidden increases in house advantages, and they will switch machines if they notice a big change. That’s why many operators resist raising their prices too much, even though they can easily justify the increase using a variety of marketing arguments.

You checked in on time, made it through security, found your gate, queued for your seat and settled in. Then you hear the captain say, “We’re waiting for a slot.” What does that mean? And how can you avoid wasting time in the air, burning fuel, and waiting around on the ground?