Alongside variance and RTP, volatility completes the online slot statistical holy trinity, allowing players to effectively assess the general gameplay experience of a slot with a glance. But can this knowledge also empower you when playing online slot tournaments? In today’s article, we’ll be demystifying volatility, learning what it is, and how it can help you engage with UK online slot tournaments in a more informed manner.
Slot Volatility Simply Explained
Volatility is a slot statistic often seen alongside RTP (return to player) and variance. It dictates the likelihood of how frequently a player wins and how substantial those victories are. Slots are usually presented as high, medium, or low volatility, but some developers display volatility on a scale of 1-5.
It is important to note that volatility, like the RTP value of a slot machine, is purely theoretical and based on a statistical average gathered over hundreds of thousands of games. Therefore volatility should be considered as a general guide to how the slot may behave as it has no bearing on how frequently you will win in any particular session.
For example, you could go 50 spins without winning with low volatility slots. Similarly, you could win 10 out of 30 spins with high volatility slots. In the short term, random chance leads to greater fluctuations, meaning that for the average slot player spinning the reels for a session or two anything may happen in one session. However, if you’re a long-time player with a few favourite games, were you to look over your outcomes across all your sessions, you’d likely see the numbers shift in one direction to either low or high volatility.
Volatility is commonly confused with variance as when averaging these concepts, variance can be viewed as a long-term application of volatility; however, when talked about in articles such as these, volatility and variance refer to two separate terms. Put simply where volatility refers to the frequency and value of winning outcomes, variance refers to the expected variance of payouts that a player may experience while playing slots, typically measured over a longer period.
Exploring Low, Medium, and High Volatility Slots
Low Volatility Slots
A low volatility slot typically has a high hit frequency meaning that rewards occur more frequently than they do for medium and high volatility slots. However, this frequency comes at the cost of the value of the payouts won, as though frequent, wins tend to be much lower in value when compared to the other volatility levels.
For example, a low volatility slot may have an average payout frequency of 75% meaning a win should occur every 4 spins or so. However, the average prize won might be worth 50% of your bet value meaning if your bet was £1, average wins would pay £0.50 back. This is in contrast to a high volatility slot which may have a 20% payout frequency, meaning a win in every 5 spins or so, but the average prize is 200% of your bet amount meaning if you wagered £1 you’d get £2 back.
Some of the most popular low-volatility slots include: Starburst, Agent Jane Blonde Returns, and Age of Gods: God of Storms.
Medium Volatility Slots
Medium volatility slots are between the high and low categories. In principle, you'll receive a steady stream of medium-sized payments. Many of the fan favourite slots fall into this category as it offers the best of both worlds. In modern slots, it is common for a slot to be classed as low-to-medium or medium-to-high. If we think about the 1-5 scale, 1 is low volatility, 2 is low-to-medium, the medium is 3, medium-to-high is 4, and high volatility is 5.
Some of the most popular medium volatility slots include Rainbow Riches, Eye of Horus, and Fishin' Frenzy the Big Catch.
High Volatility Slots
What does a "high" slot rating signify in terms of volatility? A high volatility slot has a low average payout frequency. This means payouts occur less frequently than in medium and low volatility slots. However, the positive side of a high-volatility slot is that when you do win, the average value won is higher than medium and low-volatility games.
Some of the most popular high-volatility slots include Fluffy Favourites, Book of Dead, and Big Bass Splash. Currently, high-volatility slots are in vogue with many of the new releases being medium-to-high, high, or extra-high volatility.
Considering Volatility During Slot Tournaments
Somewhere where you’ll want to consider the volatility of online slots is in an online casino tournament setting. Usually, in an online slot tournament, players have a defined credit count or a certain playing time to climb as high on the leaderboard as possible. Wins or specified combinations landed during the play session will award points, and the more points you get the higher your tournament score.
As we’ve learned, volatility is directly connected to hit rates and payout values and therefore should be considered before engaging with an online slot tournament in the following ways:
Gameplay Strategy
If the volatility of the eligible games involved in the tournament is fixed or all at the same level, then considering volatility when implementing a gameplay strategy holds less weight.
However, in the case that the game allows customisable volatility, or the selection of eligible games have varying volatility levels, you’ll want to consider which one to play, depending on the scoring and ranking rules outlined in the terms and conditions (more on this later).
You’ll also want to consider the type of gameplay to enjoy, as tournaments, just like slots themselves, are about having fun, and not making money. Therefore, if the tournament involves four slots three of which are high volatility and one of low volatility and you’ve always preferred playing low volatility games, there’s no point in choosing a high volatility game that doesn’t suit your style.
Scoring and Rankings
As with any promotion, you should always read the terms and conditions thoroughly. However, paying attention to this information isn’t just part of responsible gambling, but can give you an edge in a tournament setting.
Tournaments can score and rank players in a variety of ways. For example, some tournaments may award points for each winning combination added, while others rank players by the highest payout they’ve achieved. With this in mind, in the first instance, a low volatility slot is the smartest choice, as wins appear more frequently, but in the second example, a high volatility slot is more favourable due to the typically higher payout values.
Risk Management
While volatility can be a smart factor to consider to optimise your online slot performance, remember that there is no way to increase odds beyond the stated values nor is there any way to predict wins or outcomes.
All casino games including online slots are games of chance, and nothing is guaranteed. While statistically a high volatility slot (in the very long term) will award higher value payouts, in the short term it is just as likely to land higher payouts or even jackpots on low volatility games.
In general, remember tournaments should be played for fun and you should always gamble responsibly. Never wager more than you can afford to lose, and set yourself a budget and time limit for your session.
Choosing the Right Slot Tournament
Picking the right type of slot tournament for you goes further than volatility considerations alone. You’ll also want to consider the type of tournament. Most commonly you’ll encounter free-roll tournaments which are free to enter, and buy-in tournaments where an entry fee is involved. Lastly, there are invitational tournaments which are typically for VIP and high rollers, but the average player is unlikely to encounter these. If you want to try a slot tournament for the first time, a free roll tournament makes for a great option, but plenty of sites also offer low-cost buy-in tournaments too.
Next, you’ll want to consider how long the tournament will run for. Plenty of sites offer daily tournaments which are perfect for casual players who can engage with them as part of their usual session. Longer-running tournaments tend to be more competitive, and will require repeat engagement, which can be costly and tempt players into irresponsible gambling practices; so always consider your options before wagering, and proceed with awareness and caution.
Lastly, check out the games which are featured in the promotion. Some tournaments will be focused on a single slot (often a new or anticipated release), while others will focus on a series of slots (usually a selection from a single developer, or those that match a certain theme). If you’re not interested in the slot or slots eligible for the tournament and a buy-in is required, then don’t play!
Tournaments are a consistent feature of top online casinos, so there’s always another around the corner, hopefully with games that are more to your taste. If the tournament is free-roll, then you might want to have a small dabble with the slots featured, as they could be your new favourite; but that’s completely up to you.
Show Your Competitive Side With Spin Genie
Understanding volatility and its impact on your gameplay is important whether you're playing a slot tournament or not, or even slot games at all, as other similar games such as Slingo also feature volatility information. While they don’t predict or guarantee outcomes, volatility ratings are a great way to get an ‘at-a-glance’ picture of what to expect from the game you’re considering playing.
For slot tournaments, understanding volatility can help you make an informed decision of whether you want to play as well as which games may be best to pick. At Spin Genie we offer both free-roll and buy-in tournaments daily. Sign up and show your competitive side today. Summarize the key points discussed.
