Slots games have different types of Variance between them. What exactly is Variance and how does it affect your winnings? Many people see the word "variance" used to describe online slots without really knowing what it means. Variance describes the possibilities of having large and wild oscillations in your sessions. It is a term that describes how far from the average most of the sample will be. The greater the variance, or volatility, the more likely you are to see big changes in your results. Although many slot players don't care much about what type of online slots they choose to play at the most reputable online casino, knowing the variance of the game you have chosen is important. Because knowing how it has been designed not only to play, but also how it has been structured to pay, will give you an advantage. Try our hundreds of free slot games and find your personal style. Every online slot machine will have many unique features that some players may like, such as its theme or bonus games. Some aspects of the slot machine may discourage players, such as small prizes or fixed coin values. It's about finding the best one that suits your tastes to make you feel comfortable.

Variance as a statistical indicator

The variance will dramatically affect the way the slot game pays. Each slot will have one of the following types of variance below, so read the following to find out what to look for when you play. Also to understand how it is that you are going to play and pay in a certain way. The point is that, in an ideal situation, you would end up betting the same amount on a high variance slot as a low variance slot, but you would do it differently by making more bets of a smaller size.

Low Volatility and Low Risk Slots

A low variance slot game will attract many slot players who aspire to have as long a slot session as possible, the best description we can give to low variance slot machines are the low risk ones and this is due to the way they have been designed. When you play a low-variance slot, you will often find that the prizes offered are modest in value. You'll get lower-value winning combinations by forming your activated paylines, and credits won't run out as fast as some of the medium and high variance structured spaces we'll discuss later. Slots with low variance due to their low risk, but low reward game structure are often used in conjunction with an offer of no deposit bonuses and free spins, as with many winning combinations these players regularly get real value from these bonuses.

In fact, with a little luck in the game, players who choose low volatility slots can reach and exceed the number of bets required on those bonus requirements and reach a point at which they can withdraw their winnings.

Medium volatility and medium risk slots

The most common slots available to play online are of medium variance, unlike the types of slots mentioned above. They offer an average risk format and game structure and will generally give you pleasant surprises while you are playing them!

Medium variance slots can offer high and low prize amounts. In addition, they will offer bonus game features and a bonus round in which both low and high cash amounts can be won. When you choose to play a medium variance turn, you should have a good chance of winning the low and high prizes. But you won't see as many lower-value winning combinations as low-variance slots. You also won't play for a high risk type of reward, like the one offered by high variance slots. If you are a conservative online slot player and want a medium risk session, this type of games will be worth it. Since slots are completely random, you will always have a chance to win. You will have similar odds of having a winning session as well as losing it. However, if you are averse to risk, it would probably be better for you to stick to the low-variance slots mentioned above. If you want to be more adventurous, then take a couple of turns on the high variance slots.

High Volatility and High Risk Slots

You will often need nerves of steel and a good credit base if you choose to play high variance slots. These types of slots have been structured in such a way that the payouts listed in the paytable are often very high. By playing at these slot machines, it is possible to get a winning combination of great value that is formed on any activated payline. With this type of slot machine you won't win as often, but when you win, you win big! When you have a high level of variance, you increase your chances of having a losing session, but you increase the value of your wins the moment you win. This will affect your game by making you more likely to explode before you reach a big winning session. To compensate for this, you should use smaller bet sizes with high volatility slots. Ideally, you would also play longer sessions to give you a better chance of smoothing out those changes with some big wins, but not everyone has time for that. The point is that, in an ideal situation, you would end up betting the same amount on a high variance slot as a low variance slot, but you would do it differently by making more bets of a smaller size.

Additional reading https://www.forbes.com/sites/davidschwartz/2018/11/26/six-leadership-secrets-from-casino-slot-managers/#49879ca949c5