Slot Volatility

Meaning, slots which are either low-medium volatility, or medium-high volatility. Thunderstruck II, for example, happens to be one of these types of slots. It’s a low-medium type, which means that the base game is low volatility whereas the special feature is medium volatility. Volatility or Variance is one of the few mechanisms that make a slot run. If you’re a newbie player, the slot volatility may have no meaning to you whatsoever. But experienced players will tell you that it is actually a very important factor to consider when playing online slots.

Why Volatility Is So Important In Slots

There’s no use in sugarcoating it: we play slots for real money because we like to win some real cash. And yes, the excitement and thrill of the game are also important. But slots are exciting and thrilling because of the winning potential.

And do you know what largely determines that potential? Volatility.

➞ High Volatility
➞ Medium Volatility
➞ Low Volatility
➞ How to Calculate a Slot Machine’s Volatility
➞ How to Choose the Right Slot

Also called variance, volatility actually speaks of three things at once. These are the frequency of the payouts in a slot game, the size of those payouts and the risk involved for the player. There are high variance offerings out there, as well as slots with very low and medium volatility. What that means exactly we’ll explain below. And we’ll show you how to pick the right slot games for you based on their variance.

Types of Volatility in Slot Games

As mentioned, there are three main types of volatility you will see in slot games: high, medium and low. Here’s what you need to know about each of them.

High

To help you better understand the concept of variance in slot games, you can substitute with the word “risk”. Thus, high variance slots become high-risk slots, and that is precisely how they work.

If you are someone who enjoys taking risks, high-volatility titles will certainly be more appealing to you. Such titles are characterized by long dry spells when it seems like it takes forever to land a win. Hence, high variance slots will not pay out often. But when they do pay out, the sizes of the winnings usually more than compensate for the long wait.

Screenshot from Book of Oz Slot

With that in mind, however, slot games that are highly volatile will require you to pace yourself accordingly. These offerings have a strong tendency to deplete your bankroll in record time. So it’s crucial that you play with the right amount of cash, and that you also have the right mindset. Don’t worry – we won’t leave you hanging. This guide will also cover the budget and mindset necessary to be able to enjoy high volatility slots to the fullest.

A great thing about high variance titles is that they often come equipped with very lucrative bonus rounds. And just as you might expect, those bonus rounds don’t exactly trigger very often. But when they do, they can be littered with multipliers and various other added perks to help make the prizes very large.

A great example of a high variance slot game is Microgaming’s Book of Oz. Featuring a very basic setup with 5 reels and only 10 paylines to keep things simple and fast-paced, this title has two special features. One is the respins bonus, which triggers more frequently. But the crown jewel is the free spins bonus that can grant you up to 25 free spins initially. But for even more varied special features and a Viking theme, don’t miss out on Champions of Valhalla by software provider Eyecon.

Medium

Medium variance titles are easily the most played and most popular category of slots in terms of volatility. And it’s quite obvious why that is. Slot games with medium volatility bring forth the best of both extremes and offer a very agreeable balance of feature, win sizes and payout frequency.

Screenshot from Divine Fortune Slot

They make a great choice for both newbie players who are barely getting started in the iGaming world, as well as for seasoned professionals who know their way around. With medium variance titles, you can expect to win at relatively even intervals, and the amounts will be smack in the middle between their low and high variance counterparts.

And usually these types of games are loaded with all sorts of thrilling bonus features. Developers really like to get creative with medium volatility offerings, because in them you aren’t quite on edge as with high variance slots. So you get to relax a little bit more and enjoy the finer details of the game instead, like the design and how well-woven the bonuses are into the theme.

Medium variance slots are also great if you like to extend your gaming sessions, because your bankroll will simply last longer compared to more volatile offerings. And the payouts are definitely much more satisfying than you can expect from low variance titles. Like for instance in Divine Fortune from Netent players get to enjoy 4 different bonus features including free spins and extra Wilds. And on top of that, there’s a massive Progressive Jackpot to aim for.

Barcrest’s Ooh Aah Dracula is another very fun title with a variety of bonuses to choose from and a spooky theme for fans of the genre. Mermaids Millions is another example of a popular medium variance title brought to you by software developer Microgaming.

Low

Low variance titles are a fantastic entry point for new slot game players. But they are just as well suited for players who may have all the experience in the world but just prefer to extend their gaming sessions over longer periods of time.

Screenshot from Thunderstruck Slot

Contrary to high volatility slot games, slot with lower volatility tend to pay out much more frequently. However, the size of the payouts is, of course, significantly smaller. The perks of such titles is that you get to play with a smaller budget and you can make that budget last you much longer than in a higher volatility offering.

In addition, slots that have low volatility are usually also very fast-paced and that is in part what still makes them very exciting to play. In fact, some of the most played online slot games out there are exactly very low variance. And players enjoy them exactly because they land wins much more often (roughly about every 5 to 10 spins).

Low Volatility Slot Machine List

And rest assured there’s no need to compromise on special features when you’re playing a low volatility title. You can find your fair share of simple slot games that let you lock into just spinning the reels, and you can come across just as many titles equipped with an abundance of bonus rounds.

For example, Thunderstruck is an extremely popular title from Microgaming that offers up to 30 free spins with up to 6x multipliers. But if you want a lightly more exotic theme, then Eastern Emeralds by Quickspin can give you a similar experience. It’s also fast-paced and has a similar selection of bonus features that trigger very often.

But for a real classic, don’t pass up the chance to try 1429 Uncharted Seas from visual experience masters Thunderkick. Not only are the theme and design here of masterpiece status, but the structure is unrivaled. The RTP is a rare 98.5%, which means your bankroll can last you an eternity.

How to Calculate a Slot Machine’s Volatility

Determining a slot game’s volatility on your own can be tricky business, especially if you aren’t well aware of the fine technicalities involved. And given the fact that slot developers are not normally inclined to disclose such information to the general public, that task becomes even more challenging.

Sometimes you can find a slot’s variance published in the official Program Accounting Report (PAR) sheets of the respective slot game. And theoretically speaking, if you know the odds and frequency of symbol combos, along with their respective value, then it is possible to calculate the volatility index of a given slot game.

1) Use the paytable. Have a closer look at the difference between payouts for 3, 4 and 5 symbols on a payline. Especially note the difference between the 4 and 5 symbol payouts. If the former seems relatively low, whereas the latter is significantly higher, then chances are you have yourself a high variance title. In medium variance offerings the gap between payouts for 3, 4 and 5 symbol combinations should be in the range between 3x and 5x the payout.

2) Note the prizes promised by the provider. As a rule of thumb, if the developer is offering eye-watering jackpot sizes and cash winnings that make your heart race, then it’s most likely a medium to high variance title you’re looking at. As we already covered, larger winnings are the domain of the more volatile slot games.

3) Check the bet limits. More specifically, pay attention to the maximum possible bet in a slot game. Developers tend to curb the upper betting limits in high variance slots due to the large payout potential. So if the maximum bet seems small, then it’s most probably a volatile game.

4) Play the demo version. Another good way to determine a game’s variance if you have the time is by playing it for free. By noting how frequently it pays out and how large the winnings are, you can get a pretty good idea of its volatility.

But that’s just theoretically. Realistically, there are complex formulas involved in order to determine a game’s exact variance. Trust us – we would know. All our slot game reviews contain information regarding the variance of each separate title, and we did not pull that information out of a hat.

But if you happen to come across a title that, say, has not been reviewed by us yet and there’s no trustworthy data about its volatility anywhere, there are ways, in which you can get a good idea about how volatile it is.

What’s the Right Slot Volatility for Me?

So now that you know what volatility is and how it affects gameplay, how do you know what variance is better suited for you? Here are some pointers you may find useful.

HIGH

If you have a larger bankroll and can afford to take long losing streaks, then high variance titles can be a good option for you. These are also a great choice for risk lovers and those hungry for large prizes, no matter the wait. Hence, you need to also be patient and be prepared that it may take a while before you can trigger the bonus rounds. Then last but not least, discipline is a must-have if you want to play volatile slots. You should be able to stop paying once you’ve reached the budget you had set for yourself.

MEDIUM

Medium variance titles are great for those who like balance. If you want to enjoy good wins just as much as you want to indulge in the thrill of the game itself, then medium volatility offerings are the perfect type for you. Even if you are a new player but have garnered enough confidence for a little riskier gameplay, medium variance titles will spare you’re your bankroll and still give you very decent wins. In addition, such slot games are ideal for players who expect the entertainment to be on a high level with elaborate and varied special features.

LOW

Low variance titles are a great choice for players with a small bankroll and/or for players who are just getting started with slot games. But even players who aren’t new to slots will enjoy low variance offerings if they are more interested in gameplay itself and want to relax and enjoy long sessions at a time. Choosing a low volatility game will allow you to experience its full scope of special features and win very frequently, even if the prizes are relatively humble. So if you want more and less risk, the less volatility – the better.

When it comes to a player’s online casino experience, slot volatility can often play an important part, however, many have not heard of the term or even know what it relates to. This comprehensive guide will take you through all of the elements of slot volatility and the role that it plays in the online casino industry.

What does slot volatility mean in the online casino industry?

With regards to what ‘slot volatility’ means in the online casino industry, this relates to the level of risk that an online slot has associated with it. Therefore in this sense, the higher that the slot volatility is for a particular slot means that in order to win more, you need to gamble more per stake, thus explaining its association with risk.

When it comes to finding a slot to play online, many enthusiasts are enticed by a number of different features including the content, gameplay and in a lot of cases, the potential jackpot that you can win, however many do not really understand the ins and outs of the technical features which in the case of slot volatility has an influence on the latter reason.

It does tend to be the case that those slots which have a higher jackpot have a higher slot volatility percentage.

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How can you understand the Volatility of Slots?

When it comes to determining and working out the slot volatility in the online casino industry, there are a number of things that you can do. This is because there are a number of factors which can help to define the volatility of a slot and as a player if you are wanting to know what you can do to find ways of working out levels of volatility, there are a series of things that you can do.

Play slots on Demo mode

One of the best ways of working out the volatility level of a slot is to play it in demo mode, making between 500 and 1000 spins. While this may seem time-consuming, it will give you an effective indicator as to whether the level is high or low.

You are able to get a good idea of this by noting the results of each round and how often they occur, but also the frequency at which bonuses are presented as well as credit payouts.

When working out slot volatility, it makes no difference whether you use real money or free credit via demo mode; they are all programmed the same.

Understand the Paytable

For every slot, there is a paytable which is basically a way for customers to see how much they will receive for the different reel combinations that are produced. The amounts which are listed in these are often changed accordingly in order to what stake is placed in some sets, however, in others they remain the same.

It is sometimes the case that slots which provide lower payouts are more liberal with their winnings, while conversely, the ones that offer bigger winnings have these more spaced out for more infrequent hits.

The way in which players can find out the lowest value is by finding the icon that has the least value associated with it and see what it pays out for three symbols; this often being the smallest combination. Because in low volatility slots, the wins are generally small, it means that they are distributed more aggressively in order to compensate for this. Some games that have small wins, however, also space out their winnings, while others that have significant volumes usually have more frequent prize money for players. This trait is often associated with high volatility slots.

Bonus Frequency

Out of all casino games, slots usually are the ones which have the most amount of bonus features, due to the depth of randomness that is associated with them. This means that the more bonuses which are included in slots, gamblers can expect a much lower hit frequency, though usually, bonuses are a bolster to winnings which are included in the slot without players needing to make any wagers.

This means that when a considerable amount of bonuses are in place, it means that players have more of a chance of winning a lot more than what they staked initially. The size of the bonus also has some determination on how frequently it lands, so if the slot has a free bonus round of spins, this means that it is much more likely to land with one rather than 20.

The most common of any hit rewards, tend to be wilds because their main purpose is to help the completion of winning combinations, while free spins and multipliers also have their role in determining the volatility in slots.

Examine the RTP Rate

This is a component which is predefined by the developer of the slot and as a result gives an abstract indication of the amount that players can expect back in winnings. These percentages are worked out after scrutinizing games over a particularly substantial period of time and this can be over thousands of rounds. While these predictions are as accurate as they can be, they are just predictions however, they do act as useful benchmarks of what players can expect in a slot from a payout perspective.

As a rule, those slots with higher RTP rates means that players have a greater chance of winning, though, those which do have a lower volatility level, with an RTP rate as high as 99 percent. Consequently, those slots which have a lower RTP percentage have a higher volatility level, because there is more risk associated with them.

Check the Software Provider

While there are over a hundred software developers, the majority appear to be synonymous for specialising in creating slots with a certain type of volatility level. Industry-renowned developers such as NetEnt are known for creating slots which have a higher level of volatility, while Microgaming also falls into this category.

Slots with different volatility levels

Now we have explained exactly what slot volatility is and the effect that it has on the gameplay, you may now be thinking about slots in a completely different way and what volatility levels some of your favourites may have. With that in mind, let’s take a look at some of the most popular slots across the various levels of volatility.

High Volatility Slots

These are the type of slots to look out for if you have a high risk tolerance to playing slots, meaning the higher stakes that you place for each spin, the higher potential reward you will receive in winnings.

Immortal Romance

Courtesy of one of the industry leading software developers; Microgaming, this vampire themed slot is one of those titles which have a high volatility rate, which also has five reels and 243 different ways to win. With Lionhead scatters, multipliers and wilds, it is also relatively easy to gather 25 free spins. Furthermore, this has a return to player rate of 96.86 percent.

Dead or Alive

Slot Machine Volatility Calculation

One of the most popular slot titles with a high volatility level, it is easy to see why with this being developed by NetEnt. Boasting five reels and nine win lines, this gun-slinging slot has a ‘Wild West’ theme accompanied by sticky wilds and a wild symbol, though this depends if you are playing via demo mode or with real money. In line with high volatility slots, it also has a high return to player rate of 96.82 percent, which is certainly respectable.

Book of Dead

With a return to player rate of 96.21 percent, this fast paced and exhilarating, adventure themed slot, perhaps rightly has a high volatility level, considering the daredevil nature of the gameplay. Uncovering the secrets of Ancient Egypt, there is plenty to discover in this slot and with five reels and 10 paylines, this Play’n GO slot carries a 96.21 percent return to player rate.

Low Volatility Slots

In terms of slots which have low volatility levels, there are perhaps more than you would think, especially some of those which you may play on a regular basis.

Starburst

Arguably one of the most popular slots ever created and what helped developer NetEnt to make a name for itself. This title has 10 fixed bet lines across a range of levels and coin values, while there is also a 22 percent hit rate. For a low risk player, this is definitely a perfect option due to the fact that it has a minimum bet of only 10p as well as a generous 96.09 percent return to player rate.

Sunny Shores

This 5x5 reel slot from up and coming developer Yggdrasil, has gone from strength to strength since its release in 2017 and as a low volatility option, there is not a lot to argue with. With 27 paylines and a low volatility score of 24 out of 100 plus a 96.2 percent return to player rate, it is also very calming on the eye; perfect for a low risk player overall.

Thunderstruck II

The sequel slot to the highly rated ‘Thunderstruck’, this title is surprisingly a low volatility slot considering that it is from software giant Microgaming. Equipped with five reels and an impressive 243 paylines, this has a Norse mythology theme with a number of triggers and multipliers and a 96.65 percent return to player rating.

Summary

Slot volatility is arguably one of the most important factors when it comes to understanding how much you can win on a particular slot. The crucial point to remember is that the higher the volatility of the slot, the more you will need to wager at a time to be in with a chance of winning the jackpot, however, the random number generator in the slots means that there are no guarantees. Ultimately, never gamble with more money than you can afford and do not use it as a way to try and ‘get rich quick’. Slot volatility is one thing that will catch you out.