In the aviation industry, a slot is the right of an airline to operate at an airport. The slots are issued during periods when runway throughput and parking space are constrained. They can be traded and are very valuable; one airport slot was sold for $75 million in 2016. Air traffic management slots are also issued by air traffic control organizations such as EUROCONTROL. These slots help manage air traffic at busy airports and prevent repeated delays caused by multiple flights.

Modern slot machines utilize microprocessors and assign different probabilities to the different symbols that make up a winning combination. In addition, some symbols represent more than one symbol. In the 1980s, manufacturers of slot machines began incorporating electronics and programming into their machines. The computer-powered machines had greater flexibility and could now include 20 symbols per reel. The payouts of these newer machines were much higher than in the past. The bonus features on these machines were also aligned with the theme.

The slot receiver is another versatile position in the NFL. It can line up on either side of the offense, and there can be as many as three receivers on the field at one time. Some NFL teams use multiple slot receivers, referring to them as the Inside Slot and the Outside Slot. Another position commonly associated with slot receivers is the nickel cornerback. The nickel represents the additional defensive backs that a team uses on defense. In football, a nickel is equivalent to five cents.