1964: Bally Build Money Honey. The swinging sixties saw the rise of electromechanical slot machines. Bally was the first company to create a slot machine with electric reels, called Money Honey. The game still needed to start with a mechanical lever, but the electric reels were a game changer.
In 1963, Bally developed the first fully electromechanical slot machine called money honey. Though earlier the High Hand a poker machine by Bally had exhibited the basics of electromechanical construction only in 1940.
The very first slot machine was called the Liberty Bell and was invented by Charles August Frey. It was named as such because the highest payout available from the machine occured from matching three bell symbols.
In collaboration with the company, Liberty Bell, the first slot machine was developed and officially invented in 1887, created in San Francisco, California. Despite this being the official unveiling, it is widely suspected that there were several prototypes made by Fey that came a little earlier.
One of the symbols used was the Liberty Bell, and this became the name of the world’s first slot machine. The fact that this game had a limited number of winning combinations available meant that it actually had an automatic payout system, which was absent from the more complicated poker machine a few years earlier.
History of Slot Machines at the Turn of the 1900s. Finally, in 1894-5, a Bavarian-born San Franciscan named Charles Fey created the “Liberty Bell”, the first true slot machine. This used three spinning reels with five symbols on each.
In 1963, Bally developed the first fully electromechanical slot machine called Money Honey (although earlier machines such as Bally's High Hand draw-poker machine had exhibited the basics of electromechanical construction as early as 1940).
The slot machine was invented in 1895 by a man named Charles Fey in San Francisco, California. Fey had a background in mechanics, and his first slot machine, which he called the Liberty Bell, was indeed a brilliant mechanical system of reels and levers.