Understanding variance and volatility for casino games
Understanding Variance and Volatility
If we’re completely honest, maths isn’t everybody’s cup of tea but, if you enjoy playing at online casinos, you can use mathematical information to your advantage. More than just adding up your wins or losses, you can use the language of maths to determine what you gain from your favourite online games or online casinos.
If you’re a regular visitor to casinos, you will be familiar with the terms ‘variance’, ‘volatility’, ‘return to player percentage’ and ‘house edge’. While you might not fully know or understand the maths behind your favourite games, you surely know that any mathematical information you receive can be used in your favour.
In the casino industry ‘variance’ has also been dubbed Lady Luck. Variance ultimately explains how easy it will be for you to move away from the house edge. The house edge and return to player (RTP) are basically different sides of the same coin: if the RTP is high, the house edge will very likely be low and vice versa.
Slot variance or risk
One of the great attractions of online casino games and slots is the unpredictability of whether you’ll walk away as a winner or not. Slots might come with impressive themes, graphics and free features but ultimately, it’s the chance of striking it lucky that has players falling head over heels for these types of games. The RTP of an online slot is calculated over over millions, or sometimes billions of simulated spins.
The different levels of variance
In order to win higher amount or more frequently, it would be a good strategy to play high-return games such as Immortal Romance. It never hurts to know what your chances are of getting payouts and how much they can be for each slots game.
Slots games will, of course, always involve luck. It might be wise to read a few reviews of the games you are considering playing beforehand, to help you determine whether they are low, medium or high variance slots. At Wishmaker, we will almost always provide you with a free to play option for a game to help you make up your mind and get playing faster. We like to arm our players with the knowledge to enhance their enjoyment!
High variance games are the cherry on top for players who like to chase big wins rather than go for more numerous but smaller payouts. High variance slots and games don’t provide you with frequent wins, but when you do win, you could walk away with a considerable amount of cash.
When playing a high variance game, you need to have the bankroll ready and be prepared to play the maximum bet if you want a chance at landing any substantial win. The outcomes are random but the minute you trigger one of the bonus features like sticky wilds, multipliers or free spins you are in for a real treat.
Patience is key when playing high variance slots, as is, of course, having enough money to play. Because the stakes are higher than in low or medium variance games, the bonuses are rarely triggered, which could mean you play out your bankroll without any wins. But there’s always a chance that you will strike big and even hit the jackpot, and that’s the appeal of high variance games.
Any slot with medium variance is ideal for those who want slightly bigger chances of winning but also better bankroll management ability. These games are extremely popular among players who tend to go for the best of both worlds.
Medium variance slots generally offer high and low payouts and plenty of high-quality entertainment. They pay out regularly and come with medium sized jackpots. With their higher payout lines, it makes it easier to trigger bonus features and place higher bets knowing a win could be around the corner.
Overall, medium variance slots and games are the most popular because they come with a variety of fun bonus features, exciting themes, surprising wins and plenty of excitement. Luckily for you, many of our slots here at Wishmaker fall into this category.
The low variance games available are perfect for the gamblers on the go. With online gambling going from strictly desktop-based to being available on your tablet, mobile browser and phone it’s easy to play for a few wins from anywhere at any time.
The low variance slots are also ideal if you like playing online, but you don’t like losing. These slots and games offer more frequent winnings, which keeps your balance stable while providing you with cost-effective entertainment.
How to tell which is which
A low variance slot can easily be identified by how often you win. If you win frequently, it’s a low variance slot, whereas if you play for a while without winning anything, it’s most probably a medium or high variance slot.
If you’d like to find out before you play, the quickest way to do so is hit the info button on the slot or game you want to try and check the paytables. If there is a five of a kind payout of about 500x, then you know it’s a high variance slot; if the paylines are fixed and the bets can only be lowered a little, then it’s more than likely a medium-to-high variance slot.
Why variance is needed
Because of the maths, we as a casino can provide you with stats and numbers that help you determine whether or not a game is to your liking. It enables you to choose slots and games that work for your bankroll and the type of entertainment you enjoy.
While maths might not be your favourite subject, it can quickly turn things in your favour when used and read correctly - and here at Wishmaker we want to help make that happen!