The features of slot machines can feel confusing at first. Terms like volatility, RTP, and variance are used a lot, yet it is not always clear how they fit together or what they mean for payouts.
This guide unpacks each concept in plain language. You will see how volatility shapes payout patterns, what RTP means in real terms, how features like jackpots and bonuses tie in, and how different versions of the same game can behave differently.
Along the way, you will learn how to read a slot’s information table and avoid common misconceptions, so you can make informed choices and manage your play.
What Is Volatility In Slots?
Volatility describes how a slot tends to distribute its wins over time. It is sometimes called variance:
- Low volatility: wins can appear more often, usually for smaller amounts.
- High volatility: wins may be less frequent, with the potential for larger individual payouts.
- Medium volatility: a balance between the two.
This is not a promise of what will happen in a short session. It is a guide to the game’s rhythm across many spins. Outcomes are always random, so two sessions on the same slot can look very different.
If volatility sets the rhythm, RTP helps explain the overall return. Let’s look at how that percentage works.
What Is RTP And How Does It Work?
RTP stands for Return to Player. It is shown as a percentage that indicates the share of total stakes a slot is designed to return to players, on average, over a very large number of spins.
For example, a slot with 96% RTP is calibrated so that, across millions of spins, about £96 is paid out for every £100 wagered. This is a long-term average for all play on that game, not a forecast for any single person or session.
Because results are random, short-term outcomes will vary. A player might experience returns above or below the displayed RTP during a brief visit. The percentage is best used as a comparative guide when weighing up one slot against another.
With RTP in place, it helps to clear up how variance relates to volatility, since the terms often appear side by side.
How Does Variance Relate To Volatility?
In slot games, variance and volatility describe the same idea: how frequently wins are likely to occur and how large they might be when they land. A high variance or high volatility slot tends to deliver fewer, larger wins, while a low variance or low volatility slot tends to produce more frequent, smaller wins.
Think of RTP as the long-term share of stakes returned, and variance or volatility as the way those returns might be spaced out across many spins.
Before looking at how these two factors shape payouts together, it is useful to know where the RTP number comes from.
How Are RTP Figures Calculated?
Developers calculate RTP using the game’s rules, symbol values, reel layouts, and bonus features. They run large-scale simulations that cover every possible outcome to estimate how much the game would return compared with total stakes over time. The result is shown as a percentage.
Independent testing agencies may also review and verify games. These checks confirm that the software functions as intended and that published figures are accurate within regulatory standards.
With both RTP and volatility defined and verified, we can see how they interact to shape payout patterns.
How Do RTP And Volatility Affect Payouts?
RTP sets the long-term proportion of stakes a slot is designed to return. Two slots can share the same RTP, yet feel very different because volatility controls the distribution of wins.
- A higher volatility slot might cluster more of its return into fewer, larger payouts. This can mean longer quiet spells between more significant hits.
- A lower volatility slot spreads its return across more frequent small wins, so the balance may feel steadier.
Neither figure predicts what will happen on the next spin. Together, they offer a snapshot of a game’s overall behaviour so players can choose a style that suits their preferences.
What Payout Patterns Should I Expect From Low, Medium And High Volatility Slots?
Low volatility slots often deliver regular small wins. Sessions can feel active, with steady movement in the balance, though individual payouts are usually modest.
Medium volatility slots strike a middle ground. Wins appear at a reasonable pace and the amounts can vary, sometimes small and sometimes more substantial, depending on features and game design.
High volatility slots typically produce fewer wins overall, but the payouts can be considerably higher when they land. This can involve longer quiet periods, so balances may swing more during short sessions.
These are design tendencies rather than guarantees. Results remain random and can vary from one session to the next.
Choosing Slots Based On Volatility And RTP
Understanding RTP and volatility makes it easier to match a slot to your preferences. From there, a few other details can help fine-tune the choice.
Hit Frequency
Hit frequency shows how often any win might appear on average. A higher hit frequency suggests more frequent wins, though they may be small. A lower hit frequency points to fewer wins overall, which can align with higher volatility and potentially larger average win sizes.
Jackpot Structure
Fixed jackpots tend to be won more often and for set amounts, which can complement lower or medium volatility styles. Progressive jackpots grow over time and are awarded less frequently, which usually suits higher volatility games where more of the return is concentrated into rarer events.
Bonus Features
Free spins, bonus rounds, and special symbols shape how a slot pays. Some games trigger features more often, adding small boosts to regular play. Others trigger features less frequently but with higher potential, which can increase volatility and create bigger swings.
Balancing these elements with RTP and volatility helps set expectations before you start.
How To Read Slot Information Tables For RTP And Volatility?
Most slots include a paytable or information section that explains the game’s rules. RTP is typically listed as a percentage such as 95% or 96%. Volatility or variance is usually described as low, medium, or high.
The information table also covers symbol values, trigger conditions for features, and any maximum payout limits. Reading these details gives a clearer view of how the slot works and what kind of session it might produce.
If anything is unclear, the game’s rules or help section will usually explain the finer points.
Can Volatility Differ Between Versions Or Bet Sizes?
Yes, some titles are released in several versions, each with a different volatility profile. A game might have a standard edition alongside higher or lower volatility variants to suit different preferences.
Occasionally, stake size can influence volatility if certain features or bonus modes are only available at specific bet levels. This is less common, but it does exist. The paytable or rules section usually clarifies whether features change with stake size or version.
Common Misconceptions About RTP And Volatility
- A higher RTP does not guarantee better returns in a short session. RTP is a long-term average for all play on a game.
- Volatility does not tell you how much you will win. It describes the distribution of wins over time, not a specific outcome.
- A slot is not “due” to pay after a quiet spell. Results are random and independent.
- Time of day, recent wins, or changing the stake do not alter a game’s underlying RTP or volatility unless the rules explicitly state that features change with stake.
A clear understanding of these points reduces false expectations and supports more informed decisions.
Practical Example Comparing Two Slots By RTP And Volatility
Consider two well-known games. Starburst has an RTP around 96.1% and is generally classed as low volatility. Book of Dead has a similar RTP of roughly 96.2% but is widely considered high volatility.
On Starburst, wins tend to appear more often, with smaller average amounts. This fits those who prefer steady activity and less pronounced swings within a session.
On Book of Dead, wins may be less frequent, yet the amounts can be much larger when they hit, especially during bonus rounds. This suits players who are comfortable with longer quiet periods in exchange for higher potential on individual wins.
The contrast shows how two slots with near-identical RTPs can feel completely different once volatility enters the picture.
Play Slots Online at Bonanza Slots
At Bonanza Slots, you will find a broad range of slot games, including jackpots, Megaways titles, and classic-style options, each offering a different style of play.
Bonanza Slots is licensed and regulated by the UK Gambling Commission, which means the site meets UK standards for fairness and security.
We provide player tools, such as deposit limits, time reminders, and account breaks to help you manage your play. If you decide to join Bonanza Slots, feel free to create an account, deposit some funds to play with and explore our games at your own pace.
**The information provided in this blog is intended for educational purposes and should not be construed as betting advice or a guarantee of success. Always gamble responsibly.