The terms volatility and RTP get thrown around a lot, confusing new players. They indicate a game's risk profile and payout pattern, but there’s more to it than that. It’s important to understand them both before playing a slot. We’ll cover everything you need to know about RTP vs volatility in this guide, and how to choose the right slot per your budget.
What Volatility Actually Means
Slot volatility, or slot variance, is a term that describes the risk level and payout frequency in slots. The volatility is embedded into the game by the developer. There are low, medium, and highly volatile slots, and they differ in terms of how often each slot pays and how large the payouts tend to be. In short, it describes the game’s risk profile, but it’s not a measure of its generosity.
Think of it as the game’s rhythm. Low-rhythm games pay frequently, but in smaller amounts. Medium-rhythm games strike a balance between smaller and larger payouts. A high-rhythm game may have dry spells, but when the beat hits, the result is a large payout.
To contrast low and highly volatile games, we’ll use Starburst by NetEnt and Gates of Olympus by Pragmatic Play.
- Starburst is one of the famous low-variance slots. It relies on win streaks that activate the Starburst wilds, which can initiate up to 3 respins with wild wins. The slot’s low volatility means higher win frequency, but the payouts are tiny. A session on this slot feels rewarding, so it’s a good pick for beginners.
- Gates of Olympus sits on the other side of the spectrum. It’s a highly volatile slot with several special features and a much larger payout size, precisely ten times Starburst’s win potential. Reaching those big wins doesn’t come often, and requires a trip to the bonus round, which isn’t hard to hit. However, when a win comes, usually after a dry spell, it dwarfs Starburst’s tiny wins. Sessions in this slot are less generous, and it's for players who can endure some time without wins.
Medium-variance slots fall somewhere in the middle. The win frequency varies, as do the rewards, so most players go with them. Big Bass Bonanza by Pragmatic Play is one good example, although it occasionally dips into highly volatile waters.
Volatility vs RTP
Online slots are riddled with all these technical terms such as volatility and RTP. Players who are just starting often wonder what is RTP vs volatility. These are two different things, even though some players treat them as identical. The RTP, which stands for Return to Player, is a theoretical figure expressed in percentages attached to each slot. It describes how much money the slot is expected to return over many spins.
The keyword here is expected. A figure of 96% RTP doesn’t mean you can invest $100 and get $96 in guaranteed returns. These are averages over longer sessions, and not a single one. It may take over a million spins to test a game’s RTP and get the specified returns, so don’t treat it as certainty over just a few spins. It’s the long-run theoretical return of a slot.
We already described how volatility works. Compared to the RTP, it’s a short-run pattern. A slot with a 96% RTP figure can be low or highly volatile. The RTP doesn’t affect volatility. If you’re ready to start, we suggest a list of the highest RTP slots to see whether the figures work.
How to Test a Slot's Volatility Yourself
While most developers state the slot’s volatility and RTP, you can test the hit frequency yourself. Your observation will not differ much, but if you prefer to test things yourself, you can do so.
The best way to do so is via demo play. Most online casinos offer demo versions without an account so that you can test the waters on each theme and gameplay feature, or for an honest observation of a slot game’s RTP and volatility.
Pick a slot and start with 50 spins at a flat stake. Track your progress, including the hit frequency, or how many spins return, the dry streaks, and the biggest single win at that stake.
Frequent and smaller wins mean lower volatility. If you’re waiting on over ten spins or even longer to hit a few larger wins, it’s a higher volatility slot.
Keep in mind that 50 spins are just a feel for the slot, not a real measure. The RTP figure and volatility extend to long runs, not a single session. But overall, 50 spins are enough for a test drive and should align with the stated volatility and RTP figures.
For our test, we tried Gates of Olympus by Pragmatic Play. We ran 50 spins on a bet of 0.40 credits each. Wins came often in our session, with a total of 13 across 50 spins. However, most were smaller than the stake: a 0.32 credit win on the 7th spin, a 0.10 on the 16th, a 0.60 on the 22nd, and so on. These wins kept our balance ticking.
The volatility showed in the spikes. The larger wins came through tumbles. On the 28th spin, we hit 2.62 on two tumbles, and the 40th spin returned 1.94 from three. The penultimate spin returned 1.58 on three tumbles. So, the pattern relied on sub-stake wins while larger payouts came from tumble chains.
That’s what high volatility looks like in Gates of Olympus: smaller wins that fuel the balance, and larger payouts tied to the features. The session still finished down, which is the expected outcome for a short stretch. But that’s not the point here. The point is that the high volatility showed, and we’ve seen it in action rather than trusting the label.
High or Low Volatility for Small Sessions?
To decide whether to go with a low- or high-volatility slot, you need to define your bankroll first. Ask yourself: How much do you have to start with? Are you comfortable enduring long dry streaks? How long will you play? This will help you determine whether to choose a low- or highly volatile slot game.
For beginners on a small budget, low- or medium-volatility slots will help you stretch it. Small frequent wins offset each spin, giving your balance a much-needed boost. Higher-volatility slots require a larger balance to survive dry stretches. So unless you want to play for a while and you have the bankroll, highly volatile slots should be off limits.
The live developer documentation is a reliable source on RTP and volatility. However, more often than not, provider labels are self-reported marketing. A highly volatile slot isn’t calibrated against another high variance slot. It’s useful as a starting point, but a self-test can give you better answers. Use one of BitOfGold’s bonuses to test a slot and see if the risk level is accurate. Start with a smaller amount, play responsibly, don’t chase your losses, and you’ll have a fun session.
FAQ
Can you trust provider volatility labels?
Yes, you can trust the provider label as a useful starting point, but treat it as a hint rather than a verdict. Providers often self-report volatility without tests, which is why volatility differs in some highly volatile slots. A quick 50-spin demo test will tell you more.
Can you change a slot's volatility?
You can’t change or adjust a slot’s volatility. It’s built into the software at a code level and never changes during play. The only way to experience a different volatility is to try another slot.
Which volatility suits my style?
Beginners with a small budget should choose low-volatile slots to start on. They offer frequent, albeit smaller returns per spin. For those with a larger budget and a bit more experience, highly volatile slots work better.
Responsible Gaming
Slot gaming at any volatility level involves financial risk. Outcomes are determined by random number generation, and no strategy or timing approach changes that. Gaming is entertainment only, and any budget set aside for it should be an amount you are comfortable losing in full. Set a clear session limit before playing and stop when it is reached. If your play is causing stress, affecting your finances, or interfering with daily life, help is available through gaming support services. This content is not legal or financial advice.
Conclusion
Now that you know how RTP and volatility work, you can make an easier decision on your next slot game. The risk profile of a slot is one of the most important metrics, showing you what to expect from your sessions. Make your pick now by signing up to play slots on BitOfGold, and jump into high-RTP slots or choose low-volatility games for more frequent returns.