Choosing a slot game requires careful consideration of the math behind every release. Volatility is one of the mathematical aspects that directly influences winning outcomes. But what does volatility mean in slots, and how does it work? We’ll tell you.
As you read on, we’ll do a little throwback to the early days of slots and the common misconceptions that can now be linked to volatility. Once you understand the concept, we’ll tell you which types there are and what to consider when choosing slots by variance. Read all the way to the end for answers to some common questions.
Variance and the hot vs cold slots assumption
In the early days of online slots, down to when most people played at physical casinos, there was the idea of hot and cold machines. People often point to those slots when you sort a game recommendation because they think the hot machines always hit. Then, there were the cold ones, which were considered “not so fun” because you had to wait a very long time to win. These were misconceptions because players thought it was more of a chance thing and less of “math.” Now we know they were trying to explain slot variance, which is how high-stakes the sessions on a particular game are.
What is volatility in slots?
Variance or volatility is how risky a slot is or how long it takes between winning spins. It can come in three intensity levels: high, medium, and low. The frequency of winning spins and the size of the wins are also related. Here is how each type of volatility plays out:
| Volatility type |
Frequency of winning spins |
Payout size |
| High variance |
Slow (rare and far between) |
Large |
| Medium |
Moderate |
Moderate |
| Low |
Most frequent |
Small |
High volatility slots
High volatility comes with the most risk. The
best online slot
games are designed for players who are patient enough to wait through lots of non-winning spins till they land a spin that pays out. Waiting isn’t what makes high-volatility slots risky; it is the portion of your bankroll that burns as you go through multiple rounds of play. That’s why the rewards are larger when you eventually win a spin.
Games like these are designed for players with a lot of patience and a hefty bankroll to back the wait time. We’d say it is best suited for high rollers because they are able to accommodate the risk-reward setup of games like these. So, the next time someone asks you, " What does high volatility mean in slots?” you can simply tell them that it means longer delays between hits but larger-sized wins.
Low volatility slots
With your knowledge of high volatility, you should be able to answer what a low volatility slot machine is. However, for clarity, it means slots that pay at very short intervals. The win patterns are still very random, so you can’t calculate if you will actually hit a win every two or 5 spins. However, you don’t get to use up a large chunk of your balance before you record a successful spin. The catch here is that more frequent payouts mean low win sizes, but it is ideal if you are looking to balance your bankroll and possibly build gains slowly.
If you are just getting into playing slots, have a low risk appetite, or have a smaller bankroll, releases with low variance are ideal. When you compare a low- and high-variance slot, there is no difference in how the sessions play out in terms of mechanics. The fun factor remains the same; you just experience different payout potential.
Medium-volatility slots
The third kind of variance you will encounter is medium, which is between the high and the low. With these kinds of slots, you can expect moderately sized wins and moderate wait times between wins. These are particularly enjoyable if you want more of a balanced session, as the intense swings of high and low-variance slots can throw you off easily. Even these medium-variance games can come in three forms: low-medium, medium, and high-medium volatility.
Things to consider when choosing slots based on variance
Now that you know what volatility means in slots, you can’t just go ahead to select a slot once you know its variance. There is more that goes into how the session plays out. These are a few things you should look into before making a selection:
Rather than thinking if high volatility is good in slot or if you should opt for low variance, you should consider what risk level you can tolerate. If you don’t have the patience to wait for a long time before hitting a win, then something on the low end is perfect. However, if you are prepared to wait until a win lands, even if it takes a long time, then the high variance is better.
Some software providers only make high-variance slots, while others make a mix of risk levels. However, we’ve noticed that the intensity of the risk levels differs across studios. Try demo versions of games from various providers with the same volatility to see which is the most extreme and which is more flexible. Then, you choose what works best for you.
The look and feel of a game is important as well. When you pick a slot with a risk level you like, but the aesthetics and sound don't match your taste, it can feel less rewarding than it is. You can choose a theme based on your mood, a storyline, or even the colors and graphics. A good idea is to always have a design you like in mind before visiting the online casino of your choice. Some sites even group their slots based on theme to make the selection process easier. Once you choose a game, you can then click on the information button to confirm the volatility and other details.
Game mechanics work together with the volatility to give you a sense of reward or a long wait. A game with a cascading feature, for instance, can feel more engaging and potentially rewarding than it is. That’s because every cascade builds anticipation for a following one by default, which will also create more winning chances.
RTP means Return to Player, which is the percentage of your bets that you should get back over a series of spins. The higher the RTP, the higher the potential reward you can expect from your selected slot. You’ll often find that most highly volatile slots can have RTPs over 96%, which is the industry benchmark. That means that if you choose a slot with a 96% RTP, you should get roughly $96 for every $100 that you spin. Keep in mind that the figure is theoretical, meaning you won’t get 96% returns every time you play that game, but it naturally provides higher potential in win size.
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Pros and cons of slot volatility
Slot variance is flexible, which means you can choose games based on your risk comfort level. Still, there are a few things to note about how variance can be beneficial or “not so comfortable.”
Pros and Cons
- Choose between three variance levels
- Low volatility ensures consistent wins
- High variance for high winnings
- High volatility means longer wait times
Final thoughts on slots' volatility
All casino-type games come with their risk potential, which is what is known as "variance." However, there are three volatility levels, which give much-needed flexibility to accommodate all kinds of players.
If you are someone who likes to win often, regardless of the payout size, then a low-variance slot works best. These ones help you manage your bankroll better, or at least prevent you from burning through your balance quickly. High volatility, on the other hand, is what we would like to describe as a high roller’s dream. With this approach, you can take on more risk with a larger bankroll, knowing that when you win, the payout will be substantial enough to cover the cost of previous dead spins and potentially provide additional profit.
If you’re ready to choose some slots that meet your risk tolerance level, then you need to join a casino with an exceptional variety in its catalog. Click on any of the banners on this page to join a reputable casino site right now.
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FAQs on slots' volatility
🎰 Is low volatility good in slots?
Yes, low volatility slots are particularly beneficial if you are a risk-averse player, testing new games, or have a limited bankroll.
⚖️ When should you choose a slot with medium variance?
Slots with medium variance are best for you if you are looking to play games with a stable risk level.
📈 Do all high-variance slots have high RTP?
No, high RTP slots are not necessarily high-variance slots. You will need to check the variance of the slot you have chosen by looking at the information section. That area details everything from the paytable to the features and lots more.
