#1 Hot/Cold Slot Machines: People often categorize slot machines into HOT or COLD. A hot slot machine is believed to be one that has just recently or previously paid out big money while a cold slot machine has not paid in quite a while. The fact is there is no such thing as that. Slot machines use a random generator that makes each individual spin unique and independent of the previous spins.
I do not see this as Myth because if a slot machine gives huge return, especially like two times or three times within a short period of time, people will prefer to use a good word to describe the machine. And hot can be used for it. Also if a machine is not giving high yield return but giving small amount and people are losing, people can say such machine is not hot. Just a fast meaning to understand how a slot machine has given return in the recent past.