What Does Volatility Mean in Slots
Written by: Filip Gromovic Reviewed by: Nashon Khamala
Read time: 11 minutes
Also called variance, volatility is the metric that determines the risk and reward level of a slot. When it comes to online machines, there are many metrics and statistics that players need to consider. The return to player percentage, known as the RTP, is one of the most important ones and so is the volatility metric. Variances determine how quickly and how well a game pays.
FreeSlots99 discusses this metric, highlighting all the different types you may choose depending on your style and preference. We also compare the functionality of the RTP percentage to this metric, pointing out how they differ and complement each other.
How Variance Works and Definition
So, what does volatility mean in slots? It is a system that informs players about the reward and risk level of an online machine. Knowing your title variance gives you an insight into how often it pays and the expected size of winnings.
Most providers make their game’s volatility easy to find. They are often located at the paytable or at the instructions window. A few studios are secretive about theirs, not stating them for enhanced thrill and suspense on the reels.
It is important to clarify that there is no bad or good variance. The ideal type is the one that aligns with your risk tolerance and objective. A slot’s risk and reward level manifest in three ways:
- Low: Frequent wins and small payouts
- Medium: Standard level of wins and standard level of payouts.
- High: Not so frequent wins, but sizable payouts.
Now, if someone asks what does high volatility mean in slots, they would be referring to the third one in the list above. The first is the low option, and the second is the medium type.
Types of Volatility
Now that you know what is slot volatility, it’s important to have a complete understanding of all the types available. This knowledge can help you make a more informed choice when choosing a title to spin.
High Variance
High volatility machines are known to offer big, life-changing pay. They are also popular for their infrequent payouts. You could have spells of unsuccessful outcomes on the reels occasionally. When you eventually win, the payout is usually worth the wait.
Playing a high volatility game takes will and determination. Usually, it is the ideal choice if your objective is to earn one-time large sums. Nevertheless, you must be ready to take a bit of bruising on the reels because you are playing at a high risk level. Also, we should mention that not every payout will be big. Some may just be standard.
If you choose a high volatility machine, you must pay attention to its bonus features. Those with multiplier features are often very profitable. Also, focus on selections with progressive jackpots, as a random drop could change your fortune.
See some of the standout characteristics of high-variance machines:
- Payouts are large, but combinations are infrequent.
- High-risk sessions could see you experience a spell of unsuccessful outcomes.
- Big multipliers and jackpot payouts.
- These selections are ideal for those who want to make a profit.
Some quality selections to spin for sizable payouts after knowing what is high volatility machines are NetEnt Dead or Alive 2, Big Time Gaming Bonanza Megaways and Push Gaming Jammin’ Jars.
Medium Variance
Medium volatility slots offer a balance of occasional big wins and small, frequent pay. Sometimes, you could spin these selections and just have a jolly ride of profitable wins. Other times, they may act similarly to high-variance picks. The unpredictability of these titles makes them entertaining to many online players. The medium-variance design would be perfect for a player who does not mind scoring decent wins while having fun on the reels.
We outline what to expect from these selections:
- The payout frequency is moderate or standard on average.
- Wins may be sometimes small and sometimes really big.
- Your experience on the reels is balanced and more stable compared to other types of variances.
Microgaming’s Book of OZ is a nice release, popular for its mix of small and big payouts. Gonzo’s Quest is also another well-known medium-volatility gem.
Low Variance
nowing what is a low volatility slot machine is the next step. Slot games with low variance provide frequent but smaller wins on average. These designs are programmed to offer consistent combinations to keep players engaged with their session. Also, their wins, while small, have the potential to become profitable if players enjoy a streak of lucky outcomes. We consider these titles as safe choices. They are ideal for new gamblers and great for casuals who are not so keen on taking massive risks.
A major feature of these selections is their budget-friendly, accommodating bet range. Most starting bets are usually in cents, giving players on a budget a chance.
These characteristics define what is a low volatility slot machine in the online space today:
- Their win combinations are usually frequent.
- The win sizes are usually lower than average.
- Significantly reduced risk of exhausting your bankroll.
- Great for new players and free-riding casuals.
Starburst by NetEnt remains one of the best low-variance selections. Sugar Rush and Aloha! Cluster Pays are also well-known releases in this category.
How Volatility Influences Your Session and Outcomes
The variance of an online machine will influence your gaming experience and, more importantly, the result. It determines your win frequency and payout sizes.
Win Frequency
If you settle for low volatility slots, you can expect small but frequent wins, a great choice if you want an engaging session. The medium option delivers good payouts at a relatively standard frequency. High-variance picks are great if you like big wins and don’t mind the risk that comes with infrequent combinations.
Size of Payouts
If profit and fortune are your primary goals, then you would want to know what is high volatility slot machines and focus on them. These picks are the fortune fairies in the online casino space, delivering massive wins. If you want a relatively sizable payout, the medium variance games take the day. Low picks are not really the go to choice for profits, but they can earn you a couple of bucks over time.
Choosing the Ideal Slot
The ideal slot game is the one whose variance matches your preference. There is a game developer out there with the perfect online machine for you. You only need to know the metrics to look out for to find them.
Consider the Volatility That Matches Your Need
Now that you can answer the question – what is slot volatility? You should choose a title whose risk and reward level match your needs. If you want frequent payouts, low-variance releases like Starburst take the day. Mega Moolah and Gates of Olympus 1000 are great picks if you desire big wins, while the Book of OZ is a nice choice for a balanced medium-level experience.
Bankroll Management
Irrespective of any game you choose, you need to prioritize protecting your money. To do this, establish a bankroll management strategy to determine how much you are willing to spend daily, weekly, or monthly on your sessions. This strategy helps you mitigate losses, protect your wins and, more importantly, encourage healthy gambling.
How to Figure Out Your Slot Variance
Now, when you know what is slot volatility, it is relatively easy to figure out a game’s variance. The ideal approach is to launch the game and go to the Paytable or Rules window. Some titles combine their Paytable and Rules window.
At the Paytable window, pay attention to all the information and details. You will see how the symbols pay and the assigned RTP value for your game. The variance information should be on the same page as the RTP.
Another way to find the variance is to visit your game developer’s official website and look up the details. Most providers highlight the variance and RTP of their releases on their official platforms.
If you do not see information on your title’s variance, then you may have to spin the reels for a considerable spell to figure it out. It is quite simple to tell since you already know what is a low volatility slot machine and how it differs from medium and high variances.
Difference Between Volatility and RTP
The Return to Player is a percentage value that informs players about how well a game pays in the long term. If a title has a 97% RTP, it will pay back 97% of all bets it receives from players and retain 3% for the host casino. The returned 97% bets are the winnings that lucky players receive when they hit combinations. So, let’s say players bet $10,000 on a title with a 97% RTP. $9,700 will eventually be paid back as winnings to one or more people who spin the reels. The remaining $300 goes to the house.
However, be aware that the RTP value only gives a theoretical outcome on paper. While the stated value will eventually turn out to be correct in the long term, outcomes on the reels will always be randomized. Players’ experiences are independent of each other because of the Random Number Generator technology.
Higher RTP slots are the best for profits. While the variance determines the frequency of win outcomes and sizes, it is the RTP that tells if a game has a high potential for profit in the long run. Ultimately, whether you settle for a low, medium, or high variance, always consider the RTP effect to make a more informed choice.
Casinos Where You Can Try Slot with High Volatility
Conclusion
If you had the question what does volatility mean in slots at the start of this piece, you should know the answer now. The volatility metric is obviously very important in determining how your session will turn out most of the time. While the high system delivers big wins, the low types deliver frequent payouts. Your short or long-term goal and priority (whether to win prizes or have fun) should be the primary metrics that guide your choice of slot.
Filip Gromovic is a senior slots reviewer here at FreeSlots99 with over five years of experience evaluating the latest drops in the world of iGaming.
Being a slot fan himself, Filip approaches slot ratings just the way we like it – professionally, but also from a player’s standpoint.
That enables him to give his unbiased take on the slot’s features, gameplay and design, while only recommending top-tier releases to our readers.
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Having served FreeSlots99 for more than 5 years as a senior content editor and reviewer, Nashon Khamala has extensive knowledge in game slots and iGaming.
His membership in the Editorial Freelancers Association helps him deliver content that reaches both editorial excellence standards and an engaging information level.
By using his expertise in slots games combined with player-focused analysis, Nashon delivers a professional evaluation of slot features and player experiences in his reviews.
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