You know that you are a risk-taker when the idea of owning a slot machine gives you a gambling high. These unique items can be a bit challenging to acquire, but potentially addictive and surprisingly collectible. With a little strategy you can add some fun to your play cave with a used slot machine!
Think you are interested in buying a one-armed bandit? While it can be a fairly complicated endeavor, if you break it all down there are really just three main things to take into account: state laws, costs and how to buy.
So why are used slot machines illegal in the first place? The number one reason is to stop people from obtaining them for commercial use. State law says that because these used machines are not regulated or monitored to ensure any industry standards, licensing, fair play or customer safety, they cannot be used commercially.
Illegal slot machines have actually been raided and tied to human and drug trafficking, gang violence and organized crime. So, you really want to know what’s what. Nothing ruins your collecting fun like having your new find confiscated by law enforcement.
Some sellers of used slot machines have the buyer sign a disclaimer note promising that the machines will only be used legally for home entertainment purposes.
The most popular selling machines are coin-fed slots because buyers like the adrenaline inducing clinking sound of the coins pouring into the bucket. Often slot machines become a nostalgia piece gifted to a grandparent, a new addition to a brilliant gaming collection or just for those who are into buying a one-armed bandit!
State Laws
In the US there are 41 states where it is legal for individuals to buy and own used and antique slot machines. Nine states have banned the buying and selling of all previously used gaming machines. Many of these states such as Utah or Hawaii are anti-gambling states in general and have a strict ban on gaming machines. Socially conservative areas in the south like the Tennessee and Alabama tend to be thumbs down on gambling and are most likely to have slot machine bans.
So, depending on where you live, state law will make the difference in whether you will be buying a one-armed bandit for personal use. In Nevada? Go for it. In Indiana? No way. Some states like California allow for the purchase of some specific antique machines like those 25 years or older. You will want to do a little research into your local state law.
Selling slot machines is a growing business especially online. It is advised to deal directly with a direct seller rather than a third-party dealer. Third party sellers take your order for a specific machine, locate and buy it for you, then ship it. Sounds easy enough but beware of scams; there are many sellers out there who will send fake stock photos or lie about the condition of the machine. Not fun.
Direct dealers will often offer you a nice warranty as well as other services like customer support. Third parties can’t offer this. Be a detective, direct dealers have warehouses or showrooms. Ask about stopping in for a look to check and make sure it is a real direct dealer. Then you are on the fast track to buying a one-armed bandit.
Costs
Buying a used slot machine is a heavy investment. As collectibles, they’re priced accordingly. Prices can range from $600 – $300,000 depending on the machine. Other costs include shipping which varies according to the size, weight and distance of the machine.
Slot machines made in the 1930’s and after are considered contemporary. Machines older than that are considered antique. Antique slot machines usually have all original parts because replacement parts were rare. The more original features and parts, the better.
Contemporary slots have often been tinkered and with, so they usually have easy to find part replacements.
You also don’t want to forget to budget for the costs of replacement parts and possible repairs which can get steep.
If you are interested in buying a one-armed bandit, original condition is your best bet. Finding a slot machine in mint condition is rare, but they do exist. If a slot machine has been restored, the value actually decreases. If you find one from the 1930s -1940s for less than $3,000, it more than likely was restored. Some used slot machines do grow in value over time.
How to Buy
Here comes the fun part: buying your first machine. Visiting a showroom is a fun way to start. There are also many online vendors catering to the demand for used slot machines. Convenient! Auction sites are another way to find the used slot machine that will become a draw to your play cave.
