Regardless of the origin of the term, "one arm bandit" has become a common colloquialism for slot machines, and is still used today even though modern electronic slot machines no longer have a physical lever on the side.

A video lottery terminal (VLT), also sometimes known as a video gaming terminal (VGT), video slots, or the video lottery, is a type of electronic gambling machine. They are typically operated by a region's lottery, and situated at licensed establishments such as bars and restaurants.