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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 crack at online pokies, you've probably noticed that no two sessions are the same. The results are all over the shop - you can't predict a thing. One minute you might be rolling in it, the next you're down to your last dollar.
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 'volatility' and 'variance' in pokies, but maybe you're not quite sure what they're on about.
Keep reading and we'll break down what volatility and variance mean, and how they affect your spin on the pokies.
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Pokie volatility measures how often you're likely to win and is linked to a game'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. Basically, it's a gauge of your likely performance and the jackpot size up for grabs. For a taste of high volatility, check out the Sweet Bonanza demo here on BETO.
Pokie volatility often aligns with the return-to-player rate (RTP), which is the percentage of money punters win in a game long-term.
High volatility pokies don't pay out often, but when they do, it's usually a hefty sum that makes up for the dry spells. Low volatility games, on the other hand, offer regular wins but smaller payouts. This concept holds true for both online and brick-and-mortar pokies.
Most pokies at your favourite online casinos will disclose their volatility rating upfront. Some games, however, don't advertise a fixed payout rating or percentage. Online casinos typically rate pokie volatility on a scale from 1 to 5 stars. A 0 or 1-star game means frequent small wins, while a 4 or 5-star game offers a more explosive experience with rare but massive payouts.
You might find you prefer a certain volatility level. For instance, you could favour high volatility games over low volatility ones. It's always smart to try the free version of a pokie before wagering real money. Most popular providers' games are available here at BETO.com for free practice spins.
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Free game
High-risk pokies usually pack bigger jackpot punches
Want to experience a high-volatility pokie in action? Click the game on the left to try out the 5 Lion Megaways pokie. It's a ripper example of a game with sky-high variance and volatility.
If you're into 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 low-volatility options. At the end of the day, it's horses for courses.
This article will break down what these terms actually mean in the world of online gambling, and how you can use them to suss out whether a pokie is right up your alley or not.
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Low volatility pokies: ideal for newbies, still packed with bonus features
The Return to Player (RTP) percentage 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 a long period and doesn't guarantee profit. Your actual winnings depend on luck.
Imagine a pokie with a 94% RTP. This means the house edge is 6%. If you play this pokie, you're likely to get a payout of around 94%. So, if you start with $100, you might end up with about $94. In this case, the casino's profit margin would be $6.
Volatility is related to RTP but measures risk differently. It's the level of risk in a specific game. High volatility pokies offer massive payouts, like 100x or even 5,000x your bet. The catch? Wins are less frequent. Low volatility games have more regular wins, but smaller payouts. This is due to the higher hit rate.
Your game choice depends on your style. If you're after big thrills and don't mind higher stakes, high volatility pokies might be your go. If you prefer to play it safe with smaller bets, stick to low volatility games. Each type has its own appeal, so give them all a spin before picking your favourite.
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Mid-range pokies still pack a punch with ripper features and big wins.
In the casino world, you'll often see the terms Volatility and Variance used interchangeably. It's worth noting that these terms aren't synonymous and have different meanings outside of gambling.
Volatility is commonly used in economics and finance to express risks and options in stocks. Variance, on the other hand, is more of a gambling concept, frequently used in Texas Hold'em Poker and increasingly in pokie machines.
In the world of online gambling, both terms essentially refer to the risk factor in a specific game. The volatility or variance of a game indicates the level of risk you'll encounter, as well as giving you an idea about the expected hit rate and average payout sizes.
There is a subtle difference, though. Variance typically refers to the distribution of wins over a longer period, while volatility describes the spread of wins in the short term. Understanding these concepts can help Aussie punters make more informed choices when hitting the pokies.
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When it comes to online pokies, both Slot Volatility and RTP play a big role in shaping your gaming experience, but they're quite different concepts. Volatility is all about the risk factor in a pokie machine. It affects how often you'll land wins and the average size of those payouts.
Many punters reckon high volatility games are a blast, adding a real thrill to the action. But keep in mind, these games can be pretty dicey. You'll want to make sure you've got a decent bankroll to keep spinning for a while.
RTP, or Return to Player, is a different kettle of fish. It's a percentage that gives you an idea of how much of your bet you might get back over the long haul. Most pokies have an RTP between 93% and 98%, but it varies from game to game. You can usually find the specific RTP in the game's info section.
Naturally, pokies with a higher RTP are going to be more favourable for players, as you're likely to see more of your money coming back. This holds true even for progressive jackpot pokies. So, when you're choosing a game, it's worth keeping an eye out for a solid RTP.
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 the number of special features - the more features a game has, the higher its volatility tends to be. This is because games packed with special features offer more chances for big wins, as these features can be quite lucrative.
Here's an example to help you understand the risk factor in online pokies:
Let's say you're playing a pokie with a bonus feature that triggers, on average, once every 500,000 spins. Naturally, this bonus would offer a much bigger reward compared to one that pops up every 50 spins or so. In real money casino games, you'll encounter various rewards with different hit rates. It's worth paying attention to these, as landing just one high-value feature could easily cover your spinning costs and then some.
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Choosing which pokie to play isn't rocket science. It's all about what floats your boat and how much of a thrill you're after. That said, there are a few things worth mulling over before you dive in.
If you're eyeing off a high volatility game, just remember that wins might not come as often. Sure, when they do hit, they'll likely be bigger than what you'd see in low volatility pokies, but there's more risk involved. It's also worth noting that if you're working with a smaller bankroll, these high volatility games might not be your best bet. They can take a while to pay out, and you might find yourself tapped out before you hit the jackpot.
On the flip side, if you're keen on low volatility pokies, a smaller budget isn't as much of an issue. You'll probably see wins more regularly, but don't expect them to be massive. The trade-off is that your gameplay might not be as heart-racing as with the high volatility options.
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In the world of online pokies, the variance level can be broadly split into 3 categories: high, medium, and low. These levels apply to both physical machines in pubs and clubs, and online jackpot pokies. It's worth giving games of all variance ratings a go before settling on your preferred level.
For experienced punters who've been having a punt for a while, pokie variance can be broken down into 5 different levels. Here's a rundown of these levels and the type of player they might suit:
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Sussing out pokie volatility and payout frequency's a tricky one
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 betting experience, they also impact the pokie's volatility and the risk involved.
Games with fewer special features offer balanced gameplay, with regular small wins topping up your balance. After hours of play, you might find your balance hasn't changed much. These low-feature games typically have low volatility.
On the flip side, pokies loaded with cool features usually have high volatility. Why? Because these special features can be seriously rewarding - triggering one could mean a massive payout. But this means you can't expect frequent wins with such high payout potential, so the hit rate on these pokies tends to be pretty 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 combos on the reels. If you're seeing massive payouts listed, you're looking at a high volatility pokie. But if the wins are on the smaller side, you're dealing with a low volatility game.
The special features are what make online pokies a real ripper. These game boosters add some serious excitement to your spin. 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. Heaps of features usually mean a lower hit rate and higher volatility. On the flip side, fewer features with smaller payouts typically mean a higher hit rate and lower volatility.
The bet size is another crucial factor in determining a pokie's variance. It's important because your final winnings are directly tied to your initial wager. High volatility games often have a higher minimum bet, while low volatility pokies let you start with a smaller punt.
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More bonus features often mean bigger wins but higher risk.
Now that you've got the lowdown on online pokies, you're practically a pro when it comes to volatility and variance. You can size up games based on their volatility rating and RTP, which'll come in handy when picking your go-to pokie.
There's a massive range of online pokies out there, with all sorts of volatility levels. At the end of the day, it's a personal choice - you can go for any game with any variance as long as you're having a good time.
To find a ripper game, just keep spinning different pokies with various volatility ratings. 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 crack without putting any cash down. These games let you get a feel for different variance levels without risking your hard-earned dosh.
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 online pokies 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 get your head around these key concepts.
When it comes to online pokies, volatility is all about measuring risk. It gives you a heads up on how often a particular game pays out and the typical size of those wins. Unlike some long-term stats, volatility is something you can suss out pretty quickly when you're having a punt. It's the kind of thing that can make or break your gaming session, so it's worth keeping an eye on.
High volatility pokies are a bit of a rollercoaster. When you hit a win, it's often a big one, putting a decent chunk of change in your pocket. But these wins don't come around too often - that's the trade-off for those larger payouts. In the end, though, the overall return to player (RTP) tends to balance out to about what you'd expect from your average pokie.
It's not that low volatility pokies pay out less than high volatility ones. The difference is in the size and frequency of wins. Low volatility pokies dish out smaller wins more often, while high volatility games offer bigger payouts less frequently. In the long run, though, you can expect a decent return from both types. It's all about your playing style and what kind of experience you're after.
Getting a handle on a pokie's volatility isn't too tricky. Usually, you'll find volatility ratings for online pokies in the game's tech specs at any online casino. If it's not spelled out, you can suss out the RTP by checking the pokie's paytable, counting up its special features, and looking at the betting range. These details can give you a fair idea of what you're in for.
When it comes to balancing risk and reward, medium volatility pokies tend to hit the sweet spot. These machines offer a solid middle ground, dishing out wins that are neither sky-high nor pocket change, with a fair hit frequency to boot. You could say they're the Goldilocks of the pokie world - not too hot, not too cold, but just right for punters looking for a steady session without breaking the bank.
High volatility pokies can be a real thrill, offering the chance to score massive wins up to 50,000 times your stake. But don't get too excited - these games have a lower hit frequency, and your odds of snagging that top prize are pretty slim. So, keep your wits about you and bet wisely when you're having a punt on these ripper machines.
When it comes to pokies, both RTP and volatility are crucial factors, each offering unique insights into the game. RTP gives you an idea of your potential winnings, while volatility sheds light on the average payout size and frequency. It's important to note that these concepts are independent of each other - a high volatility pokie can have the same RTP as a low volatility one. Understanding both metrics can help punters make more 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 few different ones a go. Here at BETO.com, we've got heaps of free versions available. So why not have a crack at a few and see which one tickles your fancy? You might just stumble upon the perfect game for your punting preferences.
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