Very often players tend to focus on the payout percentage of online slot games, without paying attention to other factors, such as the variance and the hit frequency. When it comes to online slot games, volatility which is also known as variance plays a big role in the flow of funds to and from the player’s bankroll.

Volatility is a term used to assess the risk of losing a bet. It essentially states how rare or how often the player is expected to win and whether the wins will be big or small in size. This is why it is important that if you like playing online slot games, you are aware of the variance.

Even if you are not necessarily playing to win money but for fun, you need to factor in whether going for a high variance slot game will quickly cut your gambling session short or not.

Slot games come in three different types of volatility levels, namely low, medium and high.

Before you kick off any gambling session, you need to have a good understanding of the different volatility levels available on the market:

Low Volatility Slot Machines

Low-variance online slot games are better categorised as giving plenty more chances of wins to players, albeit on a smaller scale. Some players think these games are the bee’s knees due to the fact that they rope in a lot of wins on a regular basis.

That said, players also fail to take into consideration the concept of ‘false wins’, which comes part and parcel of the slot experience. False wins essentially refer to winning a bet that is considerably smaller than the bet itself. While the game may celebrate and whoop when you hit the win, you are essentially getting back much less than what you have put in.

Low variance slot games are usually, as a result, not considered as thrilling as slot games with higher volatility, but they deliver speedy payouts. There are other advantages to low volatile games too, including the better management of your bankroll as well as extending gameplay.

While these games may not come with massive jackpots attached and they won’t turn you rich overnight, they extend gameplay.

Best Low Variance Slot Games 2022

  • Jimi Hendrix (NetEnt): 96.90%
  • Star Joker (Play ‘n GO): 96.25%
  • Lara Croft: Tomb Raider (Microgaming): 96.56%
  • Aloha Cluster Pays (NetEnt): 96.42%
  • Esqueleto Explosivo (Thunderkick): 96%

Medium Volatility Slot Machines

Medium slot games are not as widely available as low and high-variance ones. However, they make a fine compromise between the two. They can be frustrating to play since they are not quite as predictable as the other two types of games.

The wins can be substantial in size. Medium volatile games tend to have a good number of bonus features, which is a step from low volatility ones.

Best Medium Variance Slot Games 2022

  • Hell’s Kitchen (NetEnt): 96.07%
  • Guns ‘n Roses (NetEnt): 99.98%
  • Mystery Joker (Play ‘n GO): 96%
  • Koi Princess (NetEnt): 96%
  • Reel Rush 2 (NetEnt): 95.53%

High Volatility Slot Machines

Playing online slot games with high volatility requires some patience and bankroll. You have to be prepared for spinning your way through several spins without any returns. While there is a higher element of risk than with other types of games, the rewards can also be highly rewarding.

Managing your bankroll is important with these games, especially if you are a low roller. High variance slot games, such as Immortal Romance and Thunderstruck II won’t do much to your bankroll, especially if it is considerably small.

The bonus rounds are the main features of these slot games, as this is where the payouts are more likely to be generated.

Best High Variance Slot Games 2022

  • Immortal Romance (Microgaming): 96.86%
  • Book of Dead (Play ‘n GO): 96.21%
  • Punk Rocker (NoLimit City): 96.01%
  • Pink Elephants (Thunderkick): 96.10%
  • Jurassic Park (Microgaming): 96.67%

Volatility vs RTP

Volatility and the Return to Player are two various metrics that have a direct impact on the gambling session of the player as well as the quality. While volatility refers to the risk factors attached to the game, the RTP is a percentage value that states the total number of bets that are expected to be returned to the player in the shape of winnings over time.

Volatility also refers to the risk of losing your funds, and equally determines the amount of money that you could possibly win.

Which Slot Volatility Level is Right for you?

Depending on the kind of player you are, you can choose which level of volatility you want to play. If you have a big bankroll, you can weather the dry spells of a highly volatile game and give you the best chances of winning money after a good number of wins.

If, on the other hand, you have a low bankroll, opting for a high variance game would not be the wisest option. Opting for a low to the medium volatile game would be best.

How to determine the volatility of the slot games

This can easily be determined by a quick search. The information is usually supplied by the game provider. However, in the unlikely case that this information is not readily available, you can carry out the following measures:

Playing the slot game

While game developers will not usually hold back from disclosing the game’s volatility, most online casinos will. If you cannot figure out the volatility, we suggest playing a few rounds in free demo mode.

You will be able to gauge the variance of the slot machine this way. If you receive regular wins, it is a low variance game. If you receive substantial wins after playing a few rounds, then it’s high variance.

Playing in free demo mode first will enable you to learn the mechanics of the game as well without putting your money on the line.

Look at the game’s features

The features in an online slot game are what drive the popularity of many games these days. They also increase uncertainty and push the odds up.

While features have been designed to increase your wins, there is also a probability that you will not hit any. Sometimes the more features a game has, the less likely you will generate wins.

Small payouts

Small payouts don’t exactly thrill players, but they ensure that you will reel in small wins on a regular basis. Slot games with three or more prizes with low multipliers are considered low volatile. Again, they won’t make you rich, but they will pay out on a frequent basis.

The worth of the jackpot

Slots with big progressive jackpots such as the Mega Moolah game by Microgaming, allow players to dream big and possibly retire comfortably if they hit one or more of these prizes.

In order to generate these 6 or 7-figure prizes, they also need players to play the game. Generally speaking, all jackpots are made up of losses generated by players. The bigger the jackpot, the higher the variance.

The Hit Frequency

Hit frequency and volatility are not the same thing though they are very closely related to one another. Hit frequency refers to your chances of winning a payout of any sort on a single spin.

The hit frequency helps players figure out the volatility. If a slot has a high hit frequency, then it ensures that you will get paid often and that the game is low volatility.

In conclusion, it is always better when the game developers and online casino sites are forthcoming when it comes to information such as the volatility rating. This way, you know from the start what type of game you are about to play and cater to your bankroll accordingly.

As mentioned, if this information is not available, playing a few rounds in free demo mode will ensure that you get a good basic idea of what you are dealing with. If you have ever wondered why you go through cold and hot streaks with slots, then you must pay close attention to the volatility.

As a player, you need to factor in volatility. As much as it would be nice to win a big jackpot, if your bankroll cannot take several reel spins without any wins, then it may not be worth your time.

Games with medium variances, such as Gonzo’s Quest by NetEnt, allow you to get to stable middle ground, without going through long dry spells with high variance slot games or low levels of entertainment with low variance slot games.

What mostly matters is that you get enjoyment out of your gambling session. Whether you are after winning small or big amounts, you should be able to find a game that suits your style.

Personal preference is important and does not matter if you are after low or high volatility. If there is money to spare, trying the occasional hand at higher-risk slot games would not hurt, as long as you know when to call it quits.