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Hi ,
My Bally Gold Award has two play options with a hold.
I think these machines all have the same loom and wires that aren’t needed are left but cut.
See pics attached. My loose wires are at the back of reel three and you will notice the contacts are longer on my machine needing more wires.
But one problem that can stop payouts is the connector block at the back of the reels. If that is loose, it can stop functions operating correctly.
Part of mine is missing a guide and it does stop holds from working and sometimes I get a win but it doesn’t recognise the payout.
Hope this helps. There is a wiring diagram in this forum for the Gold Award.

pipcaff wrote: ↑Sat Aug 31, 2019 8:44 pm... But one problem that can stop payouts is the connector block at the back of the reels. If that is loose, it can stop functions operating correctly.
Part of mine is missing a guide and it does stop holds from working and sometimes I get a win but it doesn’t recognise the payout.

There were modifications made in the early 1970s regarding holds. To prevent "incentive to play" as the gaming laws described it, the "hold when lit" only illuminated when a coin was inserted. Prior to that, it would be lit all the time unless the hold buttons had been used on the previous game. Two consecutive holds were not possible until the random hold was introduced. I had this on a Bally Quick Draw which I owned in 1978 and sold at an auction following year for nearly double the price!

The random hold was selected by a cam which, after a coin was inserted, slowly rotated to make or break the "hold available" contacts for the next play. The cam would stop as the handle was pulled. An experienced player would be able to listen to the cam as it revolved and know when to pull the handle. By doing this, a hold would be available several times in a row but you had to make sure that not too many people were watching you!