Variance and volatility in casino games

Variance and volatility in casino games

Most players at the casinos simply play without any form of expectation of return and firmly believe it’s the price one has to pay for entertainment and hence become the bread and butter players of the casino.

We believe obviously playing for entertainment is important but why hand the casino your hard-earned cash on a silver platter without putting out a solid fight. Now, this is where the dreaded math walks in.

We get it, the math looks evil and complex to people but in this scenario, if you want to be successful in casinos and not just rely on your lady luck for it to happen then math should be your best friend from this point and onwards. You don’t require to be a mathematician, all that is required is basic math skills and making accurate decisions between the not-so-good and the good.

If you have ever been to a casino then you are most likely to have heard terms such as “variance” “volatility” “return to player percentage” and “house edge” which probably sounded like gibberish at the time.

Well not to fear, because we’re here to explain to you the mathematics that works behind your favourite casino games and would also give you an edge in your gambling life. 

What is volatility at slots?

One of the great attractions of online casino games and slots is the unpredictability of whether you’ll walk away as a winner or not.

Slots might come with impressive themes, graphics, and free features but ultimately, it’s the chance of striking it lucky that have players falling head over heels for these types of games.

The RTP of an online slot is calculated over millions, or sometimes billions of simulated spins. Variance determines whether it will be easy for you to move away from the house edge.

The house edge and return to player (RTP) are basically indirectly proportional which means that if the RTP is high, the house edge will very likely be low and vice versa.

Variance or volatility. Image explains  .

Volatility and its levels 

In order to win a higher amount or more frequently, a good strategy would be to play highreturn games and it also never hurts to know what your odds are of getting payouts and how much they can be for each slot game.

Slot games obviously always involve a certain element of luck hence It might be wise to go through a few reviews of the games you are considering playing beforehand, to help you determine whether they are low, medium, or high volatility slots. 

Low volatility

The low volatility games available online are ideal for gamblers on the go.

With online gambling going from strictly desktop-based to being available on your tablet, mobile browser, and phone it only takes a few finger taps to play for a few wins from anywhere at any time.

The low volatility slots are also perfect if you like to play online, but you don’t like to lose.

These online slots games offer more frequent winnings, which keeps your balance stable while providing you with cost-effective entertainment.

Thunderstruck 296.19%Low
Pink Panther95.39%Low
Dead or Alive 296.82%Low

Medium volatility

A slot game with medium variance or volatility is perfect for those who want a slightly higher chance of winning but also better bankroll management ability.

These games are extremely popular among players are looking to find the perfect balance between the best of both worlds.

Medium volatility (variance) slots provide high and low and plenty of high-quality entertainment for its players.

The payout at regular intervals and also comes with medium-sized jackpots.

Their higher payout lines make it easier to trigger bonus features and place higher bets knowing a win could be around the corner.

Wild Worlds96.47%Medium
Ice Joker96.23%Medium
King Kong Fury96.71%Medium

High volatility 

High volatility games are the cherry on top for players who like to chase big wins rather than go for more numerous but smaller payouts.

These slot games don’t often provide wins, but when you do win, you could walk away with a considerable amount of cash in your pockets. When playing a high volatility game, you need to have the bankroll ready and be fully prepared to play the maximum bet if you have your eyes on the prize.

The results are put out at random but it only takes you one minute to trigger one of the bonus features like sticky wilds, multipliers, or free spins you are in for a real treat.

High variance games require players to have patience if they wanna take home a winning because you are betting more money than in low or medium variance games, the bonuses are rarely ever triggered, but since there is always a chance that you will strike big and even hit the jackpot, and that is what is appealing about high volatility games.

Immortal Romance96.80%High
Gonzo’s Quest96.10%High
Book of Dead96.10%High
Golden Osiris96.27%High

Learn to recognize different volatility levels

A low variance slot can easily be spotted by how often you win. If you win frequently, it is a low volatility slot, whereas if you play for a while without winning anything, it’s most probably a medium or high variance slot.

If you’d like to find out before you play, the quickest way to do so is to hit the info button on the slot or game you want to try and check the paytables.

If there are a handful of kind payouts of about 500x, then you know it’s a high variance slot but if the paylines are fixed and the bets can only be lowered slightly then it’s more than likely a medium-to-high volatility slot.