What Is Volatility and How Does It Work?
Wondering what role volatility plays in the payouts of slots and other casino games? This guide explains the differences between low, medium, and high volatility slots and table games. Scroll down to discover which type of game is right for you.
What is Volatility and How Does It Work?
In slots and other casino games, volatility (also known as variance) refers to the risk level of a game and how often it pays out. Low volatility games offer small, frequent payouts, making it easier to keep your balance steady. High volatility games pay out less often but usually reward players with bigger wins when they do hit.
RTP (Return to Player) works alongside volatility to give you a clearer picture of the game’s overall potential. While volatility tells you how risky the game is in terms of how often and how much it pays out, RTP gives you an idea of the long-term returns you can expect. For example, a slot with 96% RTP means that, on average, the game will return £96 for every £100 wagered over time.
It’s important to remember that every spin is determined by Random Number Generator (RNG) software, which ensures that each result is completely random. This means that no matter how long or short you play, the outcome of each spin is independent and unpredictable.
If you're playing for a short while, don’t pay too much attention to the game’s volatility - since both low and high volatility slots can produce random results, you could win big on a high volatility game or hit frequent small payouts on a low volatility slot in a brief session.
In a low volatility game, the RTP may be realised through lots of small, consistent payouts. In a high volatility game, the same RTP might be achieved with fewer, but much larger, wins. Understanding both volatility and RTP helps you decide which games fit your goals and playing style.
View our RTP guide to learn more about payout rates of online casino games.
Volatility of Table Games
In table games, volatility works differently from slots because you have control over the types of bets you place.
Games like roulette and craps give you the option to choose between high and low volatility bets. For example, a straight-up bet in roulette on a single number has high volatility due to its 35:1 payout, but it hits less frequently.
On the other hand, even-money bets like red/black or odd/even are low volatility, as they hit more often but offer smaller, 1:1 payouts. Similarly, in craps, high-risk bets like hardways are more volatile, while pass line bets are lower in volatility with more frequent but smaller wins.
Unlike slots, where volatility is built into the game mechanics, table games give you the ability to adjust your risk by selecting different types of bets.
Tips on Choosing the Right Volatility Level of Slot for You
Choosing the right volatility level can help you find the perfect slot game that matches your playing style and goals. Here’s a breakdown to help you decide which volatility level suits your preferences.
Low Volatility
If you enjoy consistent, smaller wins, low volatility slots are ideal for you. These games offer frequent payouts, helping you keep your bankroll steady and giving you more playtime. If you prefer a more relaxed and low-risk gaming experience, low volatility slots are the best choice for you.
Medium Volatility
Medium volatility slots give you a nice balance between risk and reward. You’ll see a mix of smaller, frequent wins with the occasional bigger payout. These slots are perfect if you're a casual player looking for some excitement without the high risk of big swings in your balance.
High Volatility
If you're after bigger payouts and don’t mind taking on more risk, play high volatility slots. These games don’t pay out as often, but when they do, the rewards can be huge. If you’re chasing large jackpots and can handle waiting through longer dry spells, high volatility slots will suit your style.
| Low Volatility Slots | Medium Volatility Slots | High Volatility Slots |
|---|---|---|
| Starburst – NetEnt (Play Demo) | Thunderstruck II – Microgaming (Play Demo) | Gems Bonanza – Pragmatic Play (Play Demo) |
| Blood Suckers – NetEnt (Play Demo) | Immortal Romance – Microgaming (Play Demo) | Book of Dead – Play’n GO (Play Demo) |
| Da Vinci Diamonds – IGT (Play Demo) | Reactoonz – Play’n GO (Play Demo) | Jammin' Jars – Push Gaming (Play Demo) |
| Starmania – NextGen Gaming (Play Demo) | Razor Shark – Push Gaming (Play Demo) | Dead or Alive – NetEnt (Play Demo) |
| Aloha Cluster Pays – NetEnt (Play Demo) | Legacy of Egypt – Play’n GO (Play Demo) | Bonanza – Big Time Gaming (Play Demo) |
Gambling Game Volatility - Final Thoughts
Understanding volatility is key to making the most of your casino experience. It helps you choose games that match your risk tolerance, whether you prefer frequent, smaller payouts from low volatility slots or bigger, less frequent wins from high volatility games.
Remember, each spin is determined by Random Number Generator (RNG) software, so every result is random and unpredictable, especially in the short term. Volatility matters most over longer play sessions, but knowing how it works lets you tailor your strategy and make smarter choices for your gameplay.
By aligning your game choices with your goals, you can maximise your enjoyment and potential returns, no matter what type of slot or table game you prefer.
