The first slot machine was invented in 1894, and this fun contraption has, since then, gone on to become the most popular game on the casino floor. Blending ease of play, convenience, and relatively lax rules that are easy to get behind, it is little wonder that beginners flock to use these slot machines. Crank the wheel, and the reels spin. Crank it a few times, and maybe you will win.
Slot game variance and return to player percentage (RTP) are the key game mechanisms behind how slot machines work. They determine what symbols a player will see while playing, and if a bettor will win big.
Slot Game Variance
If you think variance sounds familiar, it’s because it probably does. If you have any experience with mathematics, statistics more specifically, you would have encountered the word variance a few times.
Variance describes how varied an outcome is from the average or the expectation. Tying this to slots describes how likely or unlikely the player is to win the jackpot. Variance applies to all slot machines, wherever a player chooses to wager. From traditional physical slots in casinos to online slots at gaming sites and even offshore international sites, like non-Gamstop sites, all slots include variance. As long as you are playing slots, the variance (sometimes interchangeably called the volatility) is an important consideration.
It is important to note that the volatility of a slot machine is not something developers willy-nilly share. Doing so might mean some slot games would be less played or not played at all when people figure that the chances of winning with the machine are too slim. However, all slot games come with a volatility index; you might need to comb through the settings to find it or browse the developer’s website to find their game lists. The volatility can be described as low, medium, or high on these lists or by using numbers, usually 0 – 20, with higher numbers meaning higher volatility.
Types of Slot Game Variance
The following are the different types of variance you should expect from slot machines. Below is what they mean and how they can affect your gambling experience.
1. Low Variance
Low-variance slots are games that pay out very often, so every player has a huge chance of hitting the jackpot without spending too much. The downside, you guessed it, is that the payouts are small. However, they are a good option if you are trying to win or boost your bankroll.
2. Medium Variance
Midway between low and high variance, these are slot games for people who want higher-value wins without risking too much of their bankroll. Consider medium variance games to be in the sweet spot, just the right amount of risk for the right amount of reward.
3. High Variance
High-variance slot games are for high rollers. They come with significantly more risks than low—and medium-variance games. These are more likely to take a toll on your bankroll but make up for it with huge wins.
Return to Player Percentage (RTP)
The RTP is another important metric players looking to cover their bases when playing slots in their favorite brick-and-mortar or Bitcoin casino must understand. The simplest way to look at it is a gentleman’s agreement. It is the casino saying how much (in percentage) of the total amount wagered they are willing to turn over and how much they’d keep as the house edge.
You should know that this percentage is not calculated per player but instead per game. If a game has a 95% RTP, meaning it would pay out $95 for every $100 wagered, it does not mean that every player would get $95 every time they spend $100. This means that across a certain period, 95% of all the money wagered would be paid out to different players at random. So, some players might win it all, and some might lose it all, ensuring randomness and fairness in gambling.
While variance talks about the likelihood of winning at slots, RTP discusses how much of your money (theoretically) you could expect to get back. Put together, they paint a clear picture of what games are considered best for different players visiting the casino.
Types of RTP in Slot Games
The following are different RTPs in slot games and how they can influence your gaming experience.
1. Low RTP Games
These are games with 90-93% return. Games in this category usually have a jackpot feature, and the wins are significant compared to the average and high RTP games.
2. Average RTP Games
Average RTP games have a return rate between 94 and 96%. They are midway between low and high and offer moderate returns.
3. High RTP Games
Games with returns of 97% or more are considered high RTP games. They give players the best chance of making their bets, albeit if the payout is relatively small compared to games with average and low RTPs.
How do variance and RTP affect you?
Players should take extra care when considering their RTP and variance options.
It starts with how much you have to risk and how much you are willing to risk. Players with relatively smaller bankrolls and small risk appetites should only consider slot games with low variance and high RTPs. High rollers hunting big games should consider slot games with high variance and low RTP.
Whatever your choice might be, you must practice proper risk management, with the Martingale system being one of the most popular and effective.
Good luck!
