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Volatility and Variance
Written by: Jasmin Williams | The review was last updated: 03 July 2024 | Fact-check by: Kim Birch
If you've had a go at online pokies, you've probably noticed that no two sessions are alike. The results are all over the show - you can't predict a thing. One minute you might be raking in the dough, the next you're flat broke.
Pokies are way more unpredictable than other casino games like Baccarat or Blackjack. With those, you're usually winning about half the time - though it's never a sure thing.
You've likely heard punters banging on about pokies having high volatility and variance, but what does that actually mean?
Keep reading and we'll break down volatility and variance for you, and how they impact your pokie sessions.
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Pokie volatility measures how often you're likely to win and is linked to a pokie's RTP. It shows your chances of hitting winning combos and the potential payout size. Generally, lower risk games offer smaller wins, while higher risk ones can lead to big jackpots.
Think of volatility as the risk factor in a pokie. It determines your expected win frequency and potential payout size. High volatility pokies, like the Sweet Bonanza demo here on BETO, offer less frequent but larger wins.
Pokie volatility often aligns with the return-to-player rate (RTP), which is the long-term percentage returned to players.
High volatility pokies don't pay out often, but when they do, it's usually a hefty sum. Low volatility pokies offer regular wins, but typically smaller payouts. This concept applies to both online and offline pokies.
Most pokies disclose their volatility rating upfront. Online casinos typically use a 1-5 star scale. A 0-1 star rating means frequent small wins, while 4-5 stars indicate rare but potentially massive payouts.
You might find you prefer a certain volatility level. It's wise to try the free version of a pokie before wagering real money. BETO.com offers free versions of most popular pokies for practice.
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High volatility pokies typically offer larger prize pools.
Want to feel the thrill of a highly volatile pokie? Click the game on the left to give the 5 Lion Megaways pokie a spin. It's a real ripper with top-notch variance and volatility ratings.
If you're keen on pokies and online punting, you'll know that a game's RTP is a big deal when choosing what to play. Some punters are all about those high volatility games, while others prefer to keep things steady with lower volatility titles. At the end of the day, it's all about what floats your boat.
This article will break down what these terms actually mean in the world of online gambling, and how you can use them to figure out if a game's right up your alley or not.
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Low volatility pokies suit newbies and still pack bonus features.
The Return to Player Percentage (RTP) of a pokie is the mathematical return you can expect over time. It's measured by your winnings relative to your deposit on a specific game. Keep in mind, RTP is calculated over the long haul and doesn't guarantee profit. Your actual winnings come down to luck.
Picture a pokie with a 94% RTP. This means the house edge is 6%. If you play this pokie, you're likely to get back about 94% of what you put in. So, if you start with $100, you might finish with around $94. The casino's profit in this scenario would be the remaining $6.
Volatility is a different kettle of fish, but it's related to RTP. Volatility measures the risk level in a game. High volatility pokies can dish out massive payouts - we're talking 100x, 500x, or even 1,000x your bet. The catch? These big wins don't come around often. Low volatility pokies, on the other hand, pay out more frequently but in smaller amounts. You're not risking as much, but you won't see those jaw-dropping wins either.
The type of pokie you choose depends on your style. If you're keen on high-stakes action with the chance of massive payouts, high volatility pokies might be your jam. If you prefer to play it safe and stretch your bankroll, low volatility pokies could be more your speed. Each type has its own appeal, so give them all a spin before picking your favourite.
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Moderate variance pokies still pack thrills and hefty prizes.
In the pokie world, you'll often see the terms Volatility and Variance used interchangeably. It's important to note that these aren't actually synonyms, and they mean different things outside of gambling.
Volatility is more commonly used in finance to describe risk in stocks. Variance, on the other hand, is a proper gambling concept. It's often used in Texas Hold'em Poker and is becoming more popular when talking about pokies.
In online gambling, both terms essentially refer to the risk factor of a particular game. The volatility or variance of a game indicates the level of risk you're taking on, as well as giving you an idea of the expected hit rate and average payout size.
There is a subtle difference, though. Variance typically refers to the spread of wins over a longer period, while volatility describes the distribution of wins in the short term.
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When you're playing pokies online, you'll come across two key terms: Slot Volatility and RTP. These both impact your gaming experience, but in different ways. Slot Volatility is all about the risk factor. It affects how often you'll land wins (the hit rate) and the average payout sizes.
Many punters reckon high volatility games are a blast, adding a bit of excitement to the mix. But keep in mind, they're pretty risky. You'll want a decent bankroll to keep spinning for a while on these ones.
On the other hand, RTP (Return to Player) tells you the likely percentage of your money you'll get back over time. It's usually between 93% and 98%, depending on the game. There's no hard and fast rule for RTP across different types of pokies.
You can usually find the RTP for each game in its info section. Naturally, higher RTP games are better for your wallet in the long run, so keep an eye out for those good numbers. This applies to progressive pokies too.
High volatility pokies action from the game 5 Lions Megaways.
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Figuring out a pokie's volatility is pretty straightforward. Give it a few spins and you'll quickly get a feel for how it pays out. Another clue is in the special features - the more a game has, the higher its volatility is likely to be. That's because these features often lead to bigger wins, even if they're less frequent.
Here's a simple way to think about risk in online pokies:
Imagine you're playing a pokie with a bonus that only pops up once every 500,000 spins. You'd expect that bonus to pay out way more than one you hit every 50 spins, right? That's how it works with most real money pokies. Each feature has its own frequency, and the rarer ones often pack a bigger punch. Hit one of these and you could easily cover your costs and then some. It's all about weighing up those odds and potential payouts.
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Choosing which pokie to play isn't rocket science. It's all about what floats your boat. Have a think about what you're after in a game and how much of a buzz you're looking for - that'll help you figure out which pokie's right for you. But there are a few things worth keeping in mind when you're picking a game.
If you're eyeing up a high volatility pokie, remember that wins might not come as often. Sure, when they do hit, they'll likely be bigger than in low volatility games, but there's more risk involved. Also, if you're working with a smaller budget, you might want to steer clear of high volatility pokies. They can take a while to pay out, and you could find yourself out of pocket before you land a decent win.
On the flip side, if you're playing a low volatility pokie, a smaller budget isn't such a worry. You'll probably see wins more regularly, but keep in mind they might not be as hefty. The gameplay mightn't be as heart-racing as the high volatility pokies either.
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In the world of online pokies, slot volatility can be broadly categorised into three levels: high, medium, and low. This applies to both physical pokies in pubs and clubs, and online versions. It's worth giving games of all volatility ratings a go before settling on your preferred level.
For seasoned punters who've been having a flutter for a while, pokie volatility can be further broken down into five levels. Here's a rundown of these levels and the type of player they might suit:
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Sussing out slot volatility and payout frequency can be tricky.
Pokies are a dynamic game, coming in all shapes and sizes. Online pokies often pack special features like Scatter Symbols, Free Spins, Progressive Jackpots, and Fixed Jackpots. While these features amp up the gameplay and overall experience, they also impact the game's volatility and the associated risk.
Games with fewer special features offer a more balanced experience. You'll regularly win small amounts, topping up your balance. Even after hours of play, your balance might look similar to when you started. These low-feature games typically have low volatility.
On the flip side, pokies loaded with flashy features tend to have high volatility. This is because these special features can be incredibly rewarding - triggering one could result in a massive payout. As a result, these games can't offer frequent wins at such high payout levels, so their hit rate tends to be quite low.
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The main factor affecting a pokie's volatility is the size of the wins. You can suss this out by checking the game's paytable. It shows what you'll pocket for different combinations. If the paytable's showing massive wins, you're looking at a high volatility pokie. But if the payouts are on the smaller side, you're dealing with a low volatility game.
The special features are what make online pokies a real buzz. These game boosters add heaps of excitement. You might find bonus games, mini-games, free spins, respins, scatter, and wild symbols. There's a clear link between the number of special features and the game's volatility. Loads of features usually mean a lower hit rate and higher volatility. On the flip side, basic features with lower payouts typically mean a higher hit rate and lower volatility.
The bet size is crucial in determining a pokie's variance. It's important because your final winnings directly relate to your initial bet. High volatility games often have a higher minimum bet, while low volatility ones let you start with a smaller wager.
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Heaps of bonus features often mean bigger wins but more risk.
Now that you've got your head around online pokies, you're practically an expert on volatility and variance. You can size up games based on their volatility rating and RTP, which'll help you pick your go-to online pokie.
There's a massive range of online pokies out there, with all sorts of volatility ratings. At the end of the day, volatility comes down to personal preference - you can go for any game with any variance rating, as long as you're having a good time.
To find a ripper game, just keep giving different pokies a spin. You'll eventually land on one that hits the spot. Heaps of games are available here at BETO.com as free versions, so you can have a go without putting any money down. These games let you get a feel for the variance levels without risking your hard-earned cash.
We reckon this article's given you a solid understanding of what volatility and variance actually mean, and how they can impact your punting experience.
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Ever come across the terms 'volatility' and 'variance' while playing pokies online and wondered what they're on about? No worries, we've put together this FAQ to clear things up. Here, we tackle the most common questions about volatility and variance in online pokies, so you can play with a bit more know-how.
When it comes to online pokies, volatility is all about the risk factor. It gives you a sense of how often a particular game pays out and the typical size of those wins. Volatility is a short-term measure, so you'll notice its impact on your gameplay pretty quickly.
In high volatility pokies, you're looking at bigger payouts when you hit a win. The catch? Those wins don't come around as often. It's a trade-off - less frequent wins, but when they do land, you're in for a decent chunk of change. Despite the ups and downs, the overall return to player (RTP) tends to balance out to about what you'd expect.
Nah, it's not that low volatility pokies pay out less than high volatility ones. It's more that the average win size on low volatility games isn't as hefty as what you'd see in high volatility pokies. But here's the thing - you'll land wins more often on low volatility games. So at the end of the day, you should still come away with a decent chunk of change.
Getting a sense of a pokie's volatility isn't too tricky. Usually, you'll find volatility ratings for online pokies in the game's specs at most online casinos. If it's not spelled out, you can still suss out the RTP by checking the paytable, counting up the special features, and looking at the betting range. These details can give you a good steer on what to expect.
When it comes to balancing risk and reward, medium volatility pokies tend to hit the sweet spot. These games strike a good balance, offering wins that aren't too massive or too tiny, with a decent hit frequency. You could say they're the Goldilocks of pokies, sitting right in the middle between high and low volatility options.
High volatility pokies can be a real thrill, offering the chance to win massive payouts - sometimes up to 50,000 times your stake. But keep in mind, these games don't pay out as often, and landing that top prize is a long shot. So, it's crucial to manage your bankroll wisely when having a punt on these machines.
When it comes to pokies, both the RTP and volatility are crucial factors to consider. While they're both important, they tell you different things about the game. RTP gives you an idea of your potential winnings over time, while volatility indicates the typical payout size and frequency. It's worth noting that these two don't influence each other - a high volatility pokie can have the same RTP as a low volatility one. Understanding both helps punters make informed choices about which pokies to play.
There's no such thing as the ideal volatility rating. Each level of volatility comes with its own set of features, advantages, and drawbacks. The best way to find a pokie that suits your style is to give a range of games a go. Here at BETO.com, we've got heaps of free versions available. Have a crack at different ones to find a game that hits the spot for your punting preferences.
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