How does Volatility work in slots?
If you love your online slot games, you may well be wondering if you should be looking for high volatility or low volatility slots, or perhaps something in between. There are pros and cons to both high and low volatility games, so let’s take a look at exactly what they are.
What is slot volatility?
Slot volatility refers to how often a slot game delivers a win, and how big that win will be. Some slots might pay out large amounts, but not very often, while others will pay out small amounts, but much more frequently. That’s down to volatility. Slots are usually classed as being low, medium or high volatility. You’ll also sometimes hear (or read) about low, medium or high variance, which essentially means the same thing when it comes to slot games.
What does low volatility mean?
Low volatility slots are those that pay out quite frequently, but most wins will be relatively small. That’s not necessarily a bad thing. There are actually some big advantages to low volatility slots, and some players prefer them.
Winning more frequently is preferable for some players, who enjoy the win itself, no matter how small. Those who play for fun often like to get lots of smaller wins spread out over the entire session.
These games can also appeal to players who just don’t like taking big risks. Playing high volatility slots, where you might have to wait a long time for a big win, can be pretty nerve-wracking, and watching your bankroll deplete steadily with no wins coming in for a long time is just not fun for many players.
If you like to have a good idea of how much money you’ll leave with at the end of the session, then low volatility slots might suit you. They tend to pay out amounts that more accurately represent the stated Return to Player (RTP) on any given slot.
There are, of course, also some disadvantages. The jackpots on low volatility slots are relatively low, and you will also find that overall, low volatility games have fewer bonuses, such as free spins or stacking wilds, than some of their more volatile counterparts.
Small wins can also mean that you lose track and don’t realise that you have actually had a lot of losses. Small prizes can mean that sometimes your win doesn’t even equal the cost of your spin – so some wins are, technically speaking, actually losses.
What does medium volatility mean?
Medium volatility is simply somewhere between high volatility and low volatility. Wins tend to be reasonably well spaced out, and are neither very big nor very small. Some players love a medium volatility slot and see it as a compromise between the pros and cons of high and low volatility games. Others might see it as the worst of both options, neither paying out very frequently, nor offering particularly big wins when it does.
Medium variance slots can be good for those who play for fun but still want to know that there is a chance of decent wins here and there. It's really up to you to decide what type of volatility you prefer.
What does high volatility mean?
High volatility is the opposite of low volatility, meaning that a high volatility game will not pay out as often, but when it does, it can be a very high amount. These games are aimed at gamblers who are prepared to take greater risks for (potentially) bigger rewards. When you play a high volatility game, you might play for a long time before you experience a win, but when you do, it will usually be a more significant one.
The main advantage of high volatility games is, of course, that you can hit a big win at any time. Even though it’s statistically likely that you’ll have to play for longer before you see a win, it could happen on your first spin. Slots are totally random, so there’s no way of knowing. Many players also find high volatility slots more interesting in general, as they tend to have more of the fun bonus features that most slot players enjoy, such as free spins, stacking or expanding wilds, and bonus games.
The disadvantage is that with wins being so much rarer, you can play for a long time without seeing any money coming back to you at all. This means that you can burn through your bankroll much quicker, hit your budget limit, and have to leave the casino before you even get to enjoy a win. Therefore, it’s important to manage your emotions carefully when playing high volatility slots, and to take a real ‘you win some, you lose some’ attitude, because in some sessions, you may not win at all.
With high volatility slots, it’s harder to predict when the wins will come and what your gains or losses might be. Technically, a high volatility slot might have the same RTP as a low volatility one, but you need to remember that the RTP is based on what will happen over a very long time period. With highly volatile slots, you’re more likely to get a return that is either much lower or much higher than the RTP in any one session, even though the RTP may be accurate over the long term.
Slot strategies depending on volatility
Slots are generally games of chance, so there is no magic betting strategy that can help you win. When it comes to playing any slot, you want to set a betting limit for each session, and when you have lost your money, you stop playing. This can be more difficult when playing a high volatility slot as you may not have won anything at all, but it’s therefore even more important to be disciplined.
When playing low volatility slots, try to keep track of your spending as more frequent wins can deceive you into thinking that you’re ahead, when you’re actually losing more than you win. One tip is to use any no deposit bonus you’re offered (such as free spins) on a high volatility slot. There’s always the chance of a big win, and that’s even better if you didn’t pay to play. Check the wagering requirements, however. Some casinos award these types of winnings as bonus funds that must be wagered in the casino, sometimes many times over, rather than withdrawn.
Pros and cons of each volatility
Playing high volatility games tends to appeal to players with an appetite for risk and a fairly high bankroll.
High volatility pros:
There is a higher potential for bigger jackpots. Prizes may be bigger when they land. These games tend to have more bonus features.
High volatility cons:
You’ll often have to wait longer for a win.
Playing medium volatility games can be good for some players but won’t appeal to everyone.
Medium volatility pros:
Some players see these games as a good compromise between high and low volatility. They can be good for those who play for fun but still want to know that there is a chance of decent wins.
Medium volatility cons:
Some see these games as ‘the worst of both worlds’ without the pros of either high or low volatility games. You may be waiting longer for a win but still getting a fairly low payout.
Playing low volatility games is better for risk-averse players on a lower budget.
Low volatility pros:
You’re likely to see more wins in a short amount of time. Your returns are more predictable, as they’re more likely to be close to the RTP.
Low volatility cons:
You’re likely to win smaller prizes when you win. These games tend to have fewer bonus features.
Setting up a bankroll to play with based on volatility
Uncertainty can make bankroll management harder, and there is more uncertainty involved in playing more volatile slots. With lower volatility slots, you will likely be winning small amounts back regularly, so regardless of the budget you have set yourself, it’s likely to last longer.
With a high volatility slot, you could win on the first spin, but you could also play for a long time and deplete your bankroll without winning anything. In this case, it can be tempting to think that the next big win is just around the corner and dig deeper to find more funds to play with.
However, remember that if you have played for a long time without a win, this is not necessarily a sign that you are ‘due’ a win. This is not how slots work. Slots are completely random.
What slot volatility level is right for me?
It really depends on how much risk you want to take. Generally, the very risk-averse prefer lower volatility slots, and those who don’t mind potentially losing money for the chance to win big will go for higher volatility games. However, there are other things to consider. Even the risk-averse often enjoy the fun bonus features that come with high volatility slots, so it’s fine to play a little of everything, if that’s what you enjoy.
Where can I find a slot’s volatility?
Some casinos list the volatility of each slot, as do some developers. However, that’s not the case with every provider, and often the volatility isn’t listed. It’s still possible to find out though. If you search for the game on the developer’s site, they will often give details, including volatility. If that doesn’t work, look at game reviews online. They will often state the volatility of the slot, or estimate it based on the reviewer’s playing experience.