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A slot machine designed for gambling in which you pull down a lever on one side that generates a random combination of three shapes, which may or may not award the player money depending on the combination received. After my wife lost her entire month's wages to the one-arm bandits in Atlantic City, we've decided to stay away from casinos altogether.
See also: bandit
Farlex Dictionary of Idioms. © 2015 Farlex, Inc, all rights reserved.