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A lot has been written about the honesty of land-based slot machines. An excellent article by Steve Bourie is titled, "Are Slot Machines Honest?" and originally appeared within the 1999 American Casino Guide. (It may be found online by searching for the title in Google or Yahoo!.) Physical, land-based slot machines have a great deal of "variations" (being polite) than can deceive the player. Bear in mind, they may be all illegal and do not happen. But read the article, closely.
At the same time, online casino slots use an electronic "random number generator" or RNG, operating inside a very large computer program that manages the game graphics, the player accounts of people that join the game, the statistics of every hand played, as well as more. The random number generator is hard-coded software instructions that don't change. There's no "sense switch" (see the Bourie article) that will be flipped to give players worse odds. Regarding control parameters, each utilization of the RNG matches the final use, and may be the same as the next use. The numbers will come out randomly, though the pattern of randomness never changes. This is a true advantage of software-based online casino slots.
Land-based slot machines can also have payout percentages as low as 83%, which isn't true with quality online casino casino slots. In online gaming, each machine has the exact same winning percentage as the other machines. You can see the payout percentages for many online gaming sites, and you shall see which it rarely drops below 95% - that is, the house makes a 5% profit, on the average. In reality, most casinos can document that their payout percentages will be in the 97% - 98% range. This means you may spend per hour, gamble your $100 stake about 3 times, and on the common it's going to cost you $7.50. But players do not gamble to be average: the true reward is the high-paying win. And the well-paying win is balanced, remember, by a number of players who lose and finance that win.
So are online casino slots fair? Yes, they clearly are. The software that operates the games is tested regularly by independent testing laboratories (look for logos at the bottom of the casino website), and no game is individually controllable to be biased. That is a far cry from the situation with land-based slot machines, appropriately called "one-armed bandits".
Players improve odds, they get absolute consistency across all games - but no-one can guarantee a win every time. That's just the nature of gambling, and that's a division of the thrill.