What is Variance (Volatility)?
Describes how a slot distributes its payouts — the balance between win frequency and win size. Low variance means frequent small wins; high variance means rare but potentially large wins. Also called volatility.
In Depth: Variance (Volatility)
Variance and RTP are separate metrics:
- RTP tells you how much a game pays back overall
- Variance tells you how it pays — frequently in small amounts, or rarely in large amounts
Low variance: Frequent wins keep your balance relatively stable. Good for bonus wagering and limited bankrolls. Example: Starburst, Blood Suckers.
Medium variance: A balance of frequency and size. The most popular category for casual players. Example: Book of Dead, Gonzo's Quest.
High variance: Long losing streaks punctuated by potentially massive wins. Requires a larger bankroll to ride out dry spells. Example: Dead or Alive 2, Money Train series.
Matching variance to your goals:
- Completing wagering requirements: Low-medium variance
- Chasing large wins: High variance (but ensure your bankroll can sustain it)
- Entertainment/casual play: Medium variance
Related Terms
Progressive Jackpot
A jackpot that grows continuously as a percentage of every bet placed across a network of linked games or casinos, until one player wins it. Progressive jackpots can reach millions of pounds.
RTP (Return to Player)
The theoretical percentage of all wagered money a game pays back to players over an infinite number of rounds. A slot with 96% RTP returns £96 for every £100 wagered on average. The inverse of the house edge.
House Edge
The mathematical advantage a casino has over players on any given game, expressed as a percentage of each bet. The complement of RTP. A game with 97% RTP has a 3% house edge.