RTP vs Volatility

The two key factors to consider when selecting online slots are return to player (RTP) percentage and volatility. While closely related, these metrics gauge completely distinct elements of the gaming experience to make informed decisions.

What RTP Measures

RTP is the theoretical long-term percentage of wagered money that a slot game returns to players. For example, a 96% RTP slot is programmed to pay back R96 for every R100 wagered over a very large number of spins. This is not a guarantee but rather an expected outcome when looking at the gaming experience across millions of individual rounds using complex algorithms and random number generators. This means that in the longer term, a 96% RTP slot should expect to pay back 4% less than the amount staked.

What Volatility Measures

While RTP sets the payback, volatility dictates how that return is experienced. Also known as variance, a slot’s volatility refers to the frequency and magnitude of wins. Low-volatility slots pay out small wins often, even after each spin, but exceed R100 more rarely. Conversely, high-volatility slots are known to be hit-or-miss, resulting in long driers interspersed with infrequent big wins over R100.

For many players, volatility matters more than a slightly higher RTP percentage because how you enjoy a game session depends more on the distribution of wins and losses than how much you anticipate winning. It’s worth remembering that regardless of which slot machine you select, the payout over the vast majority of spins will be under the amount you have wagered.

Why Two Slots Can Feel Different

Slots can have the identical theoretical RTP but feel entirely different due to variance. A low-volatility game might pay small amounts frequently, while a high-volatility game might pay nothing often, with occasional larger wins. This means the big winners are also bigger, it’s the little wins that are so infrequent compared to the big droppers.

The perception of volatility is therefore a crucial determinant of satisfaction for players. If you love picking up frequent wins, you’ll favor low-volatility slots. But if you like the idea of taking 60 dry rounds for the chance to pick up big, then you’re more at home on the higher-volatility options. In this case you’ll want to pay particular attention to your bankroll, as they’re more sensitive to the big losses they dispense.

What the Numbers Don't Tell You

It's important to note that neither RTP nor volatility numbers give you a precise prediction for your next session, except in the abstract. Knowing a slot has a 96% RTP doesn't tell you if that's what you'll hit in the evening enjoying a game, or what sort of run you're going to go on across the clock. Similarly, while a high-volatility slot will most frequently lead to the highest-highs, it's not a guarantee you'll ever see them. A low-volatility slot like this would balance out to these returns lot earlier with a higher hit threshold, and fewer big wins down the line.

Terminology

It’s worth noting that the terms volatility and variance are often used interchangeably when it comes to the risks of the gaming experience. Although variance is the mathematical measure of the deviation amongst a set of values, you’ll still see volatility quoted in slot descriptions, even across the same games.

Responsible Play

There are a huge number of options at your disposal, and you’re sure to love the range of games out there, just make sure you’re set up in a space that’s fun and feels good.

Lastly, while the information linked here should help you make choices that guard your balance better, always play responsibly. If you feel you need to talk to somebody about the way you play, or are concerned about addictive tendencies, then call the NRGP helpline for South Africa on 0800 006 008 (for 18+).