The slot machine is a new addition to Borderlands 2, and it allows you to spend all of your hard earned cash for the chance to win fantastic prizes.

Slot Machine Locations. There are two slot machines in Moxxxis club in Sanctuary. There is one slot machine in The Holy Spirits. There is one slot machine in The Dust hidden inside a building in the large area to the right of Ellie's garage Two slot machines in the Badass Crater Bar (Requires Campaign of Carnage) Torgue Tokens Slot Machines.

For Borderlands 2 on the Xbox 360, a GameFAQs Answers question titled 'Slot Machine Glitch info?'
Slot machines are interactive objects introduced in Borderlands 2. They can drop anything from weapons, to a live grenade depending on the result. Tiny Tina's Lootsplosion Slot Machine was introduced in Tiny Tina's Assault on Dragon Keep.

The amount of money it costs to tug the one-armed bandit varies depending on your character’s level—as do the weapon rewards.

Eridium, character skins and cash are dispensed through the front tray, while weapons are acquired through the side tray on the left.

You can find two slot machines in Mad Moxxi’s bar for double the fun. You’ll also come across them in the wilderness, occasionally hoisted by a rare enemy called the One Armed Bandit.

A handy tip: Play the slots with a group of other players to multiply your cash and Eridium rewards.

Another handy tip: While your friends are doing their shopping in Sanctuary, just head on to Moxxi’s bar and gamble while you wait. Money has little use apart from buying ammunition and rare items from stores and you’ll always find more cash to buy ammo should you ever run out.

The odds may always be in the house's favor, but it's not like you've anything else to do with your money.

Slot Machine Rewards

Three Psycho Masks : A live grenade. This “reward” is the only one that’ll hurt you by doing more than taking away your money. Be sure to avoid the explosion.

Three Single Eridium : One stack of Eridium (4 pieces)

Three Double Eridium : Two stacks of Eridium (8 pieces)

Three Triple Eridium : Three stacks of Eridium (12 pieces)

Three Sevens : An uncommon rarity character skin from a weapons manufacturer.

Three Bells : More money for you to gamble with!

Three Cherries : Uncommon (Green) weapon

Three Moxxi Symbols : Rare (Blue) weapon

Three Marcus Symbols : Epic (Purple) weapon

Three Vault Symbols : Legendary (Orange) weapon

Slot Machines In Borderlands 2

A pair of symbols with a bell: A small amount of cash.

Borderlands 2 Fix Slot Machine That Quit Working

A pair of symbols with a non-matching symbol: Common (White) weapon