This is a working beta of a virtual slot machine I am working on. Eventually I'm going to add a GUI.

# Python 3
# Slot Machine
# By : RLS0812

# Note: The Odds are a bit off of what they actually are.

import random

def Reels():

   # [0]Winning Value, [1]Fruit, [2]Fruit, [3]Fruit
    Ret_Val = [0," "," "," "]

   # Spin those reels !
    Reel_Spin = random.randrange(1,4,1),random.randrange(1,4,1),random.randrange(1,4,1)

# Reel 1
    if Reel_Spin[0] == 1:
        Ret_Val[0] += 1
        Ret_Val[1] = "Banana"
    if Reel_Spin[0] == 2:
        Ret_Val[0] += 5
        Ret_Val[1] = "Orange"
    if Reel_Spin[0] == 3:
        Ret_Val[0] += 20
        Ret_Val[1] = "Cherry"

# Reel 2
    if Reel_Spin[1] == 1:
        Ret_Val[0] += 1
        Ret_Val[2] = "Banana"
    if Reel_Spin[1] == 2:
        Ret_Val[0] += 5
        Ret_Val[2] = "Orange"
    if Reel_Spin[1] == 3:
        Ret_Val[0] += 20
        Ret_Val[2] = "Cherry"

# Reel 3
    if Reel_Spin[2] == 1:
        Ret_Val[0] += 1
        Ret_Val[3] = "Banana"
    if Reel_Spin[2] == 2:
        Ret_Val[0] += 5
        Ret_Val[3] = "Orange"
    if Reel_Spin[2] == 3:
        Ret_Val[0] += 20
        Ret_Val[3] = "Cherry"

    return Ret_Val

# Starting Values
Player_Money = 1000
Jack_Pot = 100
Run = True

while Run == True:

    Bet = 0

    # Reset if player goes broke
    if Player_Money < 1:
        input("You have no more money. Here is $ 1000 \nPress Enter \n")
        Player_Money = 1000
        Jack_Pot = 100

    # User input
    Bet_Line = input(" Place Your Bet ! \n Jackpot $ " + str(Jack_Pot) + "\n Money $ " + str(Player_Money) + "\n Q = quit \n")
    if Bet_Line == "q" or Bet_Line == "Q":
        Run = False
        break
    try:
        Bet = int(Bet_Line)
    except:
        print("Error: '" + Bet_Line + "' is not a number !")
        pass

    # Not enough money
    if Bet > Player_Money:
        print("Sory, you only have $",Player_Money, "\n")

    # Lets play !
    elif Bet <= Player_Money and Bet != 0:
        Jack_Pot += (int(Bet*.15))
        Player_Money -= Bet
        Is_Winner = Reels()
        I_W = Is_Winner[0]
        Fruits = Is_Winner[1] + " - " + Is_Winner[2] + " - " + Is_Winner[3]

        # Match 3 - 1 in 9 chance
        if I_W == 3 or I_W == 15 or I_W == 60:
            print(Fruits + "\n" + "You Won $ " + str(Bet*4) + " !!! \n")
            Player_Money += (Bet*4)

            # Jackpot 1 in 450 chance of winnning
            JP1 = random.randrange(1,51,1)
            JP2 = random.randrange(1,51,1)
            if  JP1 == JP2:
                print ("You Won The Jackpot !!!\nHere is your $ " + str(Jack_Pot) + " prize! \n")
                Jack_Pot = 100
            elif JP1 != JP2:
                print ("You did not win the Jackpot this time. \nPlease try again ! \n")

        # Match 2 - 1 in 4.5 chance
        elif I_W == 7 or I_W == 22 or I_W == 11 or I_W == 30 or I_W == 41 or I_W == 45:
            print(Fruits + "\n" + "You Won $ " + str(int(Bet*.5)) + " !!! \n")
            Player_Money += (int(Bet*.5))

        # No win
        else:
            print(Fruits + "\nPlease try again. \n")

#The End
print("- Program Terminated -")

Was there a question there?

Some suggestions; use a for() loop to pick a random number on each pass, and another list/tuple for the values corresponding to the random number. Also, it is personal preference, but you can use a function to get the input and only return when the input is recognized. A subset of the code you posted:

import random

def Reels():

    # [0]Winning Value, [1]Fruit, [2]Fruit, [3]Fruit
    Ret_Val = [0," "," "," "]

    values = ( (1, "Banana"), (5, "Orange"), (20, "Cherry") )

    # Spin those reels !
    for ctr in range(1, 4):  ## corresponds to element number in Ret_Val
        Reel_Spin = random.randrange(0,3,1)  ## element number in values
        this_wheel = values[Reel_Spin]
        Ret_Val[0] += this_wheel[0]
        Ret_Val[ctr] = this_wheel[1]

    return Ret_Val

def user_input(Jack_Pot, Player_Money):
    """ User input
        Return True and the bet amount, or False and zero to exit
    """
    while 1:
        print("\n Place Your Bet ! \n Jackpot $%-9.2f" % (Jack_Pot))
        print(" Money = $%-9.2f " % (Player_Money))
        print(" Q = quit ")
        Bet_Line = input(" ")

        if Bet_Line in ["q", "Q"]:
            return False, 0

        try:
            Bet = int(Bet_Line)
            return True, Bet
        except:
            print("Error: '" + Bet_Line + "' is not a number !")


Jack_Pot=2000
Player_Money=100

bet_placed, Bet = user_input(Jack_Pot, Player_Money)
while bet_placed:
    # Not enough money
    if Bet >= Player_Money:
        print("Sorry, you only have $%-d \n" % (Player_Money))
    else:
        print Reels()

    bet_placed, Bet = user_input(Jack_Pot, Player_Money)  ## get next bet
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