Definition
Volatility
Volatility describes how a game's payouts are distributed over time — small and frequent, or rare and large. It is the main lever of how a slot feels.
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Volatility (or variance) describes how a game's payouts are distributed over time. A low-volatility game pays small amounts frequently; a high-volatility game pays rarely but in larger amounts. Two games can share an identical RTP while feeling completely different to play because of their volatility profiles.
Volatility is determined by the paytable structure: the size of top prizes relative to the bet, hit frequency, and how weight is spread across the symbol set. It's the main lever of a slot's "feel."
Related: RTP · Hit Frequency