When playing online casino games, particularly slots, you have probably seen the term volatility mentioned on info screens or in game reviews.

In simple terms, slot volatility refers to the frequency at which a slot may trigger prizes and the potential size of the returns. This key factor shapes many gaming experiences, helping users choose games that match their playing style.

Understanding the basics of volatility

Often referred to as variance, many players see volatility as a game’s risk level. This is a way of describing how gameplay is likely to work within a release, telling you how it delivers its RTP. Volatility does not indicate how much you could see returned but instead highlights how the gameplay experience might be. For example:

• A low-volatility slot could present regular payouts of smaller value.
• A high-volatility slot might have long spells without returns, but with the potential for higher prize value when triggered.

The spectrum of slot volatility

The spectrum of slot volatility is rather vast. The different levels of variance each indicate a distinct type of gameplay, with its own unique characteristics. Volatility tends to be found in most Random Number Generator (RNG) based games; however, slingo games are one of the exceptions. Slot volatility can be broken down into 3 main models, which are as follows:

1. Low-volatility slots: Low-volatility online slots can often yield frequent returns, with the value of these being smaller on average. The space-themed Starburst is a perfect example, as the NetEnt creation is renowned for its smooth gameplay experience.
2. Medium-volatility slots: Medium-volatility slots, on the other hand, offer a mix of moderate win frequency and prize sizes. Medium-variance slots essentially offer the best of both worlds, and the original jungle-based Gonzo’s Quest is a popular medium-volatility slot alongside the Cleopatra slot, too.
3. High-volatility slots: Moving on to high-volatility slots, these can offer infrequent returns, but when they do occur, they can be of higher value. Jackpot slots are the perfect example of this, as these have dry spells over long periods, but the potential for higher return values in play.

Volatility vs RTP: A crucial distinction

The casino space often sees volatility and RTP mentioned together; however, these two terms are not the same. RTP, which stands for Return to Player, is the theoretical percentage of money a machine takes in which is paid back over thousands, if not millions, of spins. These percentages aren’t only found in slots but also in online scratch cards and other sub-genres of releases, too. Volatility, on the other hand, is about how the RTP in question is delivered. This could either be steady or in more sporadic bursts.

For example, two slots might both have an RTP of 94%. One of these may see frequent, smaller returns due to its low volatility, while the other may have sparse, higher-value wins. The latter would be considered the high-volatility slot, and although they share the same return-to-player percentage, the gameplay experiences provided are entirely different. It is this key difference that determines what volatility means in slots, in the context of how RTP functions.

How To determine a slot's volatility

Sometimes a game will tell players outright, but if this isn't the case, there are a couple of ways of figuring it out:

• Checking the paytable: When looking at the potential returns for combinations or clusters, a jump in value between combination types can suggest high volatility.
• Looking at the maximum win: Slots that have 5,000x+ max wins often lean towards being higher in terms of their volatility.
• Bonus features: Games that feature high multiplier mechanics and other rarely triggered bonus rounds usually have a higher volatility than others.
• Reviews & forums: Players may share their experience of a particular game, including its volatility or variance levels.
• Developer information: Some providers and game developers may state the volatility outright, labelling a game as having high or low variance directly.

Frequently asked questions

Is higher volatility better than lower volatility?
In theory, higher volatility can offer bigger potential wins but less frequently, while lower volatility may offer smaller wins more often.

How can I tell the volatility of a slot machine?
You can often get a feel for it by checking the paytable for differences between symbol payouts, looking for information from the game provider, and reading online reviews.

Does volatility affect a slot's RTP?
No, volatility and RTP are independent. RTP is the theoretical percentage of money paid out by a game over a very long period, while volatility describes how those wins occur (frequency and size). A high-RTP slot can have either high or low volatility.

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