Slot machines don’t pay as consistently as most casino games. Instead, your results can vary greatly from one session to the next.

• What Does Volatility Mean In Slots
• High Volatility Slots Meaning List

Casino slots are considered volatile due to these highly diversified results. You may win a couple of big payouts one hour, then lose hundreds of dollars the next hour.

In gambling, variance or volatility is an indicator of the frequency and volume in which a slot game is likely to pay out. Low variance games typically generate small, regular payouts, whereas high variance games produce irregular but bigger payouts, with long lean spells. As an Australian online casino player, wouldn’t it be great to know which sites have the best pokies, bonuses, and payout ratings? With reviews of casinos and individual pokies games, as well as all of the latest news, Pokies.com is your one-stop-shop for everything pokies. High volatility slots are high risk, high thrill and fast-paced. They’re the equivalent of bungee jumps or fast cars. In short, they’re the casino’s answer to YOLO. If a slot machine volatility is high, it will promise mammoth jackpots. Some slots pay out regularly but with small amounts; these are known as low volatility slots. Others have bigger prizes but pay out less frequently; these are high volatility games. Choose the type that suits you best. Ideally, you will try a few to get a good feel for them. How to play slot machine games wisely. High volatility slots are slots that have a large difference between the minimum and maximum win amounts. The bigger the jackpots that are promised, the higher you.

It can feel like all of these games are extremely sporadic. However, online slots differ from each other in terms of volatility too.

You may gravitate towards high-volatility slots without knowing it. These games usually have larger jackpots and more bonuses, which makes them attractive.

But you should know the pros and cons of such games before playing them. Keep reading to see the advantages and disadvantages along with more on volatility itself.

What Is Volatility in Slot Machines?

Volatility is a measurement of how much short-term results differ from a statistical mean. Results are highly volatile when they vary wildly from the average.

Regarding slots, this term often describes how explosive results are when measured against return to player (RTP).

Here’s an example:

• You play two different slot machines for three sessions each.
• Slot #1 offers 95% RTP.
• You have one great session and two terrible sessions on this game.
• Slot #2 offers 90% RTP.
• You have two decent sessions and one below-average sessions with this game.
• Slot #1 appears to have the higher volatility.

Slot machines don’t pay as consistently as many other games. They offer a wide discrepancy between the top and bottom prizes.

Here’s a simple pay table to explain:

All casinos, both brick and mortar and online casinos, would lose a fortune if this game paid as often as online blackjack, for example. After all, it offers prizes that are much larger than the average bet.

Online slots must be volatile by nature to compensate for big payouts at the top. While these varied results can be frustrating, they’re a necessary evil in order for large jackpots to exist.

High vs. Low Volatility Slots

Many gamblers commonly associate all slot machines with extreme results. This line of thinking isn’t wrong to a degree.

However, not all slots are the same with regard to volatility. Some offer more-severe winning and losing streaks than others.

Slot machines with big progressive jackpots are highly volatile. They don’t pay out as often in order to compensate for their large jackpots.

Meanwhile, slots with smaller top prizes normally have less volatility. These games can afford to pay more often, because their prize structures aren’t as extreme.

Two Methods for Figuring Out Slots Volatility

You don’t have many options for determining volatility in online slot machines or even brick and mortar slots. In fact, there are really only two ways to figure this out:

• Look at the help/info screen.
• Look at the pay table.

Some casino slots developers offer a volatility rating for their games. You simply need to visit the help/info stream to see this rating.

The problem, though, is that most slots don’t have such a rating. In this case, you need to go with the second option that involves looking at the pay table.

You should consider multiple factors when estimating a game’s volatility.

Here are the aspects that can indicate high variance:

• Large jackpot
• Multiple big non-jackpot prizes (e.g. 500 coins or more).
• Few small prizes (e.g. 10 coins or less).
• Three or more bonus features

A slot machine doesn’t necessarily need all of these traits to be volatile. However, 2-3 of these aspects can indicate potentially extreme results.

Using these factors to determine volatility isn’t a perfect science. However, you can improve the process by understanding how each element correlates to the industry.

When looking at progressive jackpots, always consider the “seed” amount rather than the current value. Developers only care about what they must seed a progressive jackpot with when setting a game’s volatility – not how much these prizes grow to.

Here’s an example:

• Microgaming seeds Mega Moolah’s progressive jackpot at $1 million.
• This prize grows to $10 million.
• Microgaming only cares about the $1 million with regard to a game’s volatility.
• The extra $9 million comes from players’ bets, rather than Microgaming’s pocket.

The number of large and small payouts is self-explanatory with regard to volatility. A game with more big payouts, versus small, can’t deliver as many low prizes.

Extra bonus features provide more chances to collect big payouts. Online slots with all of these features won’t pay as frequently.

Pros of High Volatility Slot Machines

I mentioned earlier that slots with high variance are popular among players. Their big jackpots are a huge selling point.

However, this is just one example of why volatile slot machines are worth playing. Check out all of the main benefits below.

You Can Win Big Jackpots

No other online casino and land-based game provides the chance to get rich as quickly as slot machines. Of course, you have to be playing the right slots in order to win big.

I mentioned earlier that high-volatility slots normally offer the largest jackpots. Some of these games feature prizes worth seven or even eight figures.

Megabucks, which is found in Las Vegas casinos, once paid a jackpot worth $39.7 million. It’s delivered plenty of other eight-figure prizes in its existence too.

Microgaming’s Mega Moolah online slot has paid a jackpot worth almost $22 million. This windfall is just one of the many life-changing prizes that Mega Moolah has awarded.

Low volatility slot machines can also offer decent-sized payouts. However, they’ll never come close to the multimillion-dollar prizes that are available in games with higher volatility.

You’ll Have Access to More Bonus Features

Slot bonuses have become highly advanced over the years. Some slots now feature detailed mini games that serve as bonuses.

Here’s an example:

• You’re playing a racing themed slot.
• You trigger a bonus with three scatter symbols.
• You’re taken to a second screen that features a racetrack and multiple cars.
• You must pick one of the cars.
• The hope is that your chosen car wins the race and offers the biggest prize.

What Does Volatility Mean In Slots

Of course, the casino slots world is filled with plenty of other types of bonuses. Free spins, scatter payouts, click-me features, and cascading reels are just some of what’s available.

Many gamblers are initially attracted to slot machines because they want to spin the reels and win big. However, bonuses are part of what keep them coming back.

Larger Regular Wins

Jackpots get all of the attention in the slots world. However, the chances of winning these prizes are very slim.

Most slots don’t offer many payouts worth 500 coins or more. But you can still find games that feature multiple bigger prizes.

Cons of Low Volatility Slot Machines

Chasing huge jackpots and triggering bonuses is exciting. But more-volatile slot machines are far from perfect.

They feature several downsides that may make you reconsider playing them. Here are the biggest drawbacks to these slot machines.

You Won’t Win as Much

Hot streaks, where you rack up plenty of small payouts in a short time span, can be almost as satisfying as hitting jackpots. Unfortunately, you won’t experience this joy much with high-volatility games.

These slots don’t pay with anywhere near the same frequency as less-volatile machines. You’ll experience more losing streaks as a result.

It’s never fun sitting at a slot machine and losing over and over. You have to accept this scenario more frequently, though, with high-variance games.

These Slots Make Bankroll Management Harder

Bankroll management is a crucial aspect to getting more entertainment out of slot machines. Properly managing your bankroll allows you to prepare for potential losses and avoid betting too much.

But highly volatile games make this process harder. You don’t know what to expect as much, which makes it more difficult to judge the amount of funds you’ll need.

You can still make a bankroll plan for these types of casino slots. Just remember, though, that your plan has greater potential to go off track.

High Volatility Leads to High Emotions

Playing slots with extreme payout percentages can lead to a rollercoaster of emotions. One day you might win thousands of dollars, only to lose it all throughout the next few days.

Online casinos are filled with plenty of other games that will give you thrills without causing near-panic attacks.

RTP Means Less with These Slots

RTP is a great way to judge how much you can expect to win back from slot machines. However, it carries less short-term significance when more volatility is introduced.

Payout percentages merely indicate what a slot machine will pay over time. It’s not a good indication of what you can look forward to winning within the next few sessions.

You’ll have even less of a clue when it comes to volatile slot machines. Even if one of these games has 97% RTP, it could deliver 25% to 300% payback in the short run.

Your Bankroll Will Run Out Quicker

Most slot machines pay back between $0.92 and $0.96 on the dollar. They’re not terrible wagers on a per-bet basis.

You of course still have the potential to win big and pad your bankroll. But you also have to account for the increased chance that you’ll lose everything.

Should You Play Slots with High Volatility?

Slots with greater volatility aren’t for everybody. They don’t pay often and can lead to more downswings during gambling sessions.

But these slots can still be worth the headaches. Many players find them far more entertaining than slots with evener payout structures.

Weighing the pros and cons gives you a good idea on if volatile slots fit your tastes. You can’t beat the bonuses and large jackpots in terms of thrills.

But you must also be willing to put up with longer losing streaks, tougher bankroll management, and more unpredictability. As long as you’re okay with these aspects, then volatile games are a fine choice.

Conclusion

Many gamblers don’t even think about volatility before choosing a slot machine. They instead sit down to play whatever game has the most-interesting theme, best graphics, and/or biggest jackpot.

Ignoring volatility, though, can be a mistake. You want to take into account how a game’s features and payouts will affect your short-term chances of winning.

Of course, this isn’t to say that you should discount the graphics and theme. Casino slots are, after all, about the entertainment aspect before anything else.

Be aware, though, of how volatility affects your payout frequency. You’ll normally win less often with volatile games.

This scenario causes problems in terms of bankroll management and extending your slots sessions. You’ll also experience more frustration when more dry spells occur.

But again, you may be fine with these problems as long as you can win big and trigger more bonuses. It’s up to you to decide if the advantages outweigh the downsides.

Different casino games offer you varied chances of winning in the short run. Some see you win nearly half the time, while others keep you waiting longer for payouts.

The latter variety is what’s referred to as high-volatility games. They don’t pay as frequently as the average casino game.

Chances are that you don’t want to be kept waiting on wins. However, you should at least consider playing high-volatility games.

I’m going to cover several volatile casino games that are worth trying. But first, I’ll discuss what volatility is and why it’s important in gaming.

What Does High Volatility Mean in Gambling?

Volatility refers to measuring how close or distant results are from a statistical average. High volatility, therefore, means that results are quite distant from the average.

This term also refers to measuring results within a specific timeframe. For example, you may consider the volatility for a three-hour slots session.

Variance is similar to volatility because it’s also a measurement of whether outcomes closely correlate with the average. But the key difference is that variance has no timeframe.

People often use volatility and variance interchangeably when speaking of slots outcomes. However, the distinction is that volatility measures short-term results.

Speaking of which, slots are considered one of the most volatile forms of gambling. These games can pay you a huge prize in one session, then drain your money over the course of your next several casino trips.

The reason why slots are so volatile is because they offer both large and small payouts. Slot machines must make up for the huge prizes by paying less frequently than other casino games.

Here’s a simple example of a slots pay table:

• 3 racecars = 100,000 coins
• 3 Ferraris = 5,000 coins
• 3 regular cars = 1,000 coins
• 3 minivans = 100 coins
• 3 buses = 10 coins
• 3 bicycles = 5 coins

You can see that the top prize is worth 100,000 coins. This game can’t pay out frequently when there’s such a big prize available at the top.

Any other casino game that offers one or more large payouts will also be fairly volatile. Meanwhile, games like blackjack and baccarat are less unpredictable.

They offer even-money payouts on wins and only have a house edge of around 1%. Therefore, gamblers can look forward to more consistent wins.

Why Does Volatility Get a Bad Rap in Casino Gambling?

The biggest problem with volatile casino games is that they’re very unpredictable. Furthermore, you never know when to expect your next payout.

This inconsistency makes it hard to plan in terms of bankroll management. Your money will also quickly disappear as you play these games.

The sad fact is that you’re going to walk away a loser with volatile games most of the time. They just don’t pay often enough to help you net consistent wins.

However, the upside is that you can also look forward to big payouts. I’m going to discuss this and other advantages in the next section.

Advantages of Volatile Casino Games

Playing unpredictable casino games with varied payout schedules may not seem like a great idea. This is especially true when considering that you’ll experience many dry spells with these games.

However, volatile forms of gambling do offer some advantages that you may enjoy. Here are the key benefits of playing such games.

Play for Big Jackpots

If you’re looking to win a huge jackpot, then you’ll most likely find it with a volatile game. Slot machines are especially well known for offering huge payouts.

For example, Microgaming’s Mega Moolah has paid out a jackpot worth over $20 million. Several other progressive online slots have delivered prizes worth eight figures too.

But you don’t necessarily have to shoot for payouts that’ll make you rich beyond your wildest dreams. You can also find plenty of life-changing prizes worth six figures in the online slots world.

You don’t even have to play slot machines to try for big jackpots. Progressive blackjack and Caribbean stud can also deliver large prizes as long as you’re willing to make a side bet.

Play for Large Payouts on a Budget

One advantage of progressive jackpots is that they give you a chance to win big without spending much money.

Most online slots only feature around a $0.25 minimum bet (25 lines at one cent apiece). Even at this rate, you can still qualify for some of the big jackpots mentioned earlier.

Table games require a $1 side bet to qualify for the jackpot. Most players don’t mind putting in a dollar every hand to take a chance at a five- or six-figure payout.

Of course, the downside is that you’re probably not going to win a jackpot anytime soon, but this might not bother you when considering how cheap it is to play volatile games.

A Huge Win Could Be Right Around the Corner

Earlier, I mentioned how games like baccarat and blackjack can offer you consistent payouts. The drawback, though, is that you can’t win payouts that are way larger than your original bet.

Volatile games differ in this aspect because they give you an opportunity to play for huge payouts in every round. This scenario lets you dream big about winning a massive prize at any point.

How likely you are to win one of these payouts depends upon the odds. For example, you have a much better chance of getting a royal flush in video poker than you do winning a $10 million slots jackpot.

Regardless of the payout size, it’s always fun to play for these types of payouts. And if you play long enough, you may very well get lucky.

Which Volatile Games Should You Play?

You can see that there are plenty of reasons to consider volatile casino games. However, you don’t want to choose just any unpredictable game.

Some have extremely high house edges that make it unlikely you’ll win any profits. You want to choose games that at least give you a decent chance to win in the long run, in case you don’t collect a big prize.

The following games not only offer you a solid chance to win but also have other aspects that make them worth considering.

Online Slots

You have two main choices when it comes to playing slot machines: land-based casinos and gaming sites.

You used to have to visit Las Vegas or Atlantic City just to enjoy land-based slots. Times have changed, though, with numerous brick-and-mortar venues popping up all over the US.

You can therefore visit a land-based casino in many places to enjoy slot machines, but you also should consider that these games have high house edges.

Land-based slots feature anywhere from a 5% to 12% house advantage. Penny slots are especially terrible because they give the casino between a 10% and 12% edge.

Online slots are a great alternative if you want a better chance of winning. The average internet slot only has between a 4% and 5% house edge.

What’s more is that you can bet a penny per line (a.k.a. penny slots) and still qualify for these low house edges. That said, internet slots give you both a cheaper way to play and a better chance to win.

Of course, you still have to deal with the heavy volatility that’s associated with any slot, but the good news is that you can at least look forward to better odds.

Poker Tournaments

Poker tournaments allow you to compete against other players for a tournament prize pool. The exciting thing about these tourneys is that you can use skill to boost your chances of winning.

Assuming you become a really good poker player, then you could even win long-term profits. Perhaps even more exciting is that some tournaments offer payouts worth six or seven figures.

The main downside with these events, though, is that only around 10% of the field cashes. Herein lies the big volatility of poker tournaments.

You can see an example of tournament prize pool distribution below.

• 100 entrants
• $100 + $10 (fee) buy-in
• 100 x 100 = $10,000 prize pool
• 1^st place – $4,000
• 2^nd place – $2,000
• 3^rd place – $1,000
• 4^th-5^th place – $500
• 6^th-10^th place – $400

If you play slots and other volatile games, then you may be perfectly fine with this uneven distribution. You also have a stronger shot at the prize money by improving your poker skills.

Roulette

Roulette gives you a chance to make either low- or high-volatility bets. Low-volatility wagers are found on the outside of the board, while more unpredictable bets are located on the inside.

You can see how roulette wagers differ in terms of their odds and volatility below.

• Single number – 36:1 odds, 35:1 payout
• Split – 17.5:1 odds, 17:1 payout
• Street – 17.5:1 odds, 17:1 payout
• Corner – 8.25:1 odds, 8:1 payout
• Six line – 5.17:1 odds, 5:1 payout
• Column – 2.08:1 odds, 2:1 payout
• Dozen – 2.08:1 odds, 2:1 payout
• Odd/even – 1.06 odds: 1:1 payout
• Red/black – 1.06 odds: 1:1 payout
• High/low – 1.06 odds: 1:1 payout

European roulette features the same house edge on every bet. Therefore, you can make any wager — high or low volatility — and look forward to the same long-term chances of winning.

The main thing you need to worry about is whether you want to chase big payouts with lower odds or go for even-money prizes with higher odds.

In either case, you can’t go wrong with European roulette when considering that each bet only carries a 2.70% house edge.

Video Poker

Video poker is similar to poker tournaments in that it lets you use skill to improve your chances of earning money. The only difference is that video poker is a house-banked game, meaning the casino has an edge.

However, most video poker games feature a very small house advantage. 9/6 Jacks or Better, for example, only has a 0.46% house edge.

The key thing is knowing which video poker games give you the best opportunity to win. You also need to choose the right paytable for each game.

The 9/6 in front of Jacks or Better means that a full house pays 9 coins and a flush pays 6. On the other hand, 9/5 Jacks or Better pays 5 coins for a flush.

This lone difference may not seem that important, however.

The other thing you need to be aware of is that video poker requires a good deal of strategy. You must know which cards to keep and get rid of in every situation.

Of course, you’re not required to learn a strategy before playing, but you’ll definitely want to do so when considering the low house edge that’s possible.

High Volatility Slots Meaning List

As for the volatility, video poker features payouts as high as 4,000 coins (royal flush), 250 coins (straight flush), and 125 coins (four of a kind). You must bet five coins in order to play for these prizes.

The good thing about video poker is that it’s less volatile than slot machines. Most of your hands will be made of up smaller payouts that come quite frequently.

You’ll still deal with some degree of unpredictability when considering the large prizes, but you can at least win around 45% of your hands with correct strategy.

Don’t Play Every Highly Volatile Casino Game

You should never play casino games just for the big payouts. After all, some games and bets feature terrible house edges that’ll cause you to lose quickly.

Here are some high-volatility games that you want to avoid.

• Certain slot machines (mostly land-based)
• Keno
• Craps prop bets
• Side bets at table games

Earlier, I discussed how some slot machines have high house edges. These games not only subject you to serious unpredictability, but they also offer weak long-term chances of winning.

Megabucks, for example, is a famous Las Vegas slots machine that’s paid out a number of mind-blowing jackpots. For example, this game holds the record for delivering a $39.7 million jackpot in 2003.

Many players only look at the progressive jackpot meter on Megabucks and immediately start inserting their money. However, the problem with Megabucks is twofold:

• It requires a $3 minimum bet (300 lines at one penny)
• The house edge is 12%

If you have money to blow, then by all means, take your chance at a life-changing payout. But Megabucks hits you hard on two fronts with the large house advantage and big minimum wager.

I don’t mean to pick on Megabucks; there are plenty of other slot machines that present the same problems. Unless your only goal is to get rich through slots, I don’t recommend playing such games.

Keno is a lottery-style game that sees you fill out tickets in hopes of having your winning numbers drawn. The excitement comes from how you can win big on a dollar ticket.

The downside, though, is that some keno games feature up to a 40% house edge. You might as well play the lottery and go for even bigger jackpots with these terrible odds.

Craps offers some good bets, including pass line (1.41% house edge) and don’t pass line (1.36%). Unfortunately, it also has some of the worst prop bets known to man.

Any 7 and “Whirl” are the worst offenders, featuring a 16.67% and 13.33% house edge, respectively. Here are other really bad craps wagers:

• Craps (2, 3, or 12) = 8:1 odds (7:1 payout)
• Hard 4 / hard 10 = 8:1 odds (7:1 payout)
• Hard 6 / hard 8 = 10:1 odds (9:1 payout)
• 11 (Yo or Yo-leven) = 17:1 odds (15:1 payout)
• 3 = 17:1 odds (15:1 payout)
• 2 = 35:1 odds (30:1 payout)
• 12 = 35:1 odds (30:1 payout)

Again, some table games give you a chance to play for big progressive jackpots, but these same games can also feature side bets with really high house edges.

For example, blackjack offers a popular Lucky Ladies side bet. This fun wager pays big when your first two cards are the queen of hearts. But it’s not so fun when considering the 24.71% house edge.

Make Sure You Have the Bankroll for Volatile Games

Even if you choose volatile games that give you decent long-term odds, you still want to perform bankroll management calculations beforehand. Doing so gives you an idea of what kind of funds you need to make your entertainment last.

The only problem, though, is that bankroll management becomes harder as the unpredictability increases. But you can still make some estimations and perform decent calculations.

For example, the average slot machine will see you lose around 250 bets on average. This figure assumes that you don’t win any big payouts.

You can use this number along with other variables to come up with a bankroll plan. Here’s an example:

• You have $1,000 to play slots with
• You make $1 bets on average
• 1,000 / 1 = 1,000 total units
• You lose around 250 bets per hour
• 1,000 / 250 = 4
• Your bankroll will theoretically last for four hours

How precise you get with bankroll management depends on your preferences. For example, you might actually track your losses throughout multiple sessions to get a good idea of how many bets you’ll lose.

However, you don’t have to go this far. The key is to simply have a vague idea of how much money you’ll need for however long you feel like playing.

Conclusion

Highly volatile games may have a bad reputation in the casino world, but they do have some advantages that make them worth playing.

These games offer big payouts for relatively cheap bets. You can spend $1 or less in many cases to play for life-changing prizes.

Many gamblers find volatile games thrilling due to how a big win could be right around the corner. Contrast this to baccarat or blackjack, where you can only win as much as you bet (i.e., even money).

Some of the best volatile casino games include roulette, poker tournaments, video poker, and certain online slots. They all have unique qualities that make them worth checking out.

I personally love poker tournaments because they offer the chance to use skill to boost my chances of winning big. Slots are also exciting due to the huge jackpots.

Of course, I don’t advocate that you play every volatile game. Certain games and bets feature ugly house edges that’ll cause you to lose at an accelerated rate.

Stay away from expensive slots with high house advantages, along with craps prop bets, keno, and most table game side bets.

As long as you avoid these games, then you should have a good time with volatile casino gambling. It gives you the opportunity to play for huge jackpots and dream big.