Slot machines like almost all other casino games are games of chance. Using random number generation technology (RNG), all outcomes from your favorite slots are completely random, meaning you always get to play fairly. However, there is a way you can clarify some of the randomnesses of your favorite slots. This is by looking at useful statistics such as RTP, volatility, and variance. In this article, we’ll be taking a closer look at these three factors to help you get to know your favorite slot machines a little bit better.
Just because slot games are completely random, doesn't mean there aren't some statistics that can be applied to your chosen game in order to help understand its potential payout rate and payout potential. The key statistic here is known as the slots Return to Player (RTP). This will inform you a little about what to expect, in terms of the percentage you are most likely to get back (out of 100%) from the slot you're playing. The discrepancy between the RTP and 100% is known as the house edge, and slots with large house edges will tend to be more challenging and statistically less likely to payout. This information can be used in combination with volatility (which we’ll be talking about next) to give you a clearer picture of what to expect from your chosen slot game.
As previously said, RTP simply provides us with a better understanding of the game's statistical payout likelihood. Volatility allows us to further understand our slot and is used to assess the time it will take to achieve the percentages presented in the slots' RTP. The concept of a slot jackpot is directly tied to volatility, as the jackpots grow larger as volatility lowers.
The terms "variance" and "volatility" are frequently used interchangeably. There is, however, a distinction between the two. Volatility indicates how likely a slot machine is to win in the near future. Variance, on the other hand, tends to provide us with a general notion of a slot machine's risk factor over a longer period of time. For example, if a slot machine has a high Variance, it will take less time to trigger two consecutive jackpots.
We can estimate how long it will take for a slot machine to trigger the next big jackpot by combining all three of the above-mentioned parameters. Of course, we want to emphasize again that chance plays a huge factor in how slots machines payout, so these three factors only act as a guide and not a surefire prediction.
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