Slot Volatility Ratings: A Bankroll Survival Guide

Volatility Index Methodology

Volatility shows you how a slot’s winnings are distributed. You may not have known this, but some games offer small, frequent wins, while others offer rare but much larger wins. However, don’t confuse it with win frequency that is, how often the game pays out. These are two completely different things.

Keep in mind that there’s no universal scale from 1 to 10 for volatility. We’ve noticed that most game studios use general categories, such as low, medium, or high volatility. Only Pragmatic Play does things differently, offering ratings from 1 to 5.

Neither we nor anyone else has tested hundeds of games under controlled conditions to provide you with a rating based on such tests. So we can’t lie to you and say we have something like that.

For each game, we used the RTP published by the developer and the official volatility classification. We then mapped these categories onto our own scale from 1 – 10. If a game fell on the border between two categories, we also took into account the frequency of wins and the maximum win multiplier.

This allowed us to compare the games with one another even without an official rating from the developer. If the sources we consulted disagreed we noted this.

How Much You Need to Play at Each Volatility Level

The higher a slot’s volatility, the more spins you may go without a decent win, until a bonus round or a substantial prize comes along and turns things around. What does this mean? You’ll need a larger budget if you want to keep playing until that win finally comes.

Our Hit Frequency vs. RTP guide explains the math behind losing streaks. If a game has a hit frequency of p, the average number of spins without a win before a winning spin occurs is (1-p) / p. However, you should know that volatility adds another factor. Even when you do win, the amount can vary. If you choose a high-volatility slot, the win might be so small that it doesn’t even cover your bet.

• Volatility 1-3 and approximately C$30-C$50. Here, wins will be small and frequent, and your balance will stay active. You can handle the usual fluctuations.
• Volatility 4-5 and approximately C$60-C$90. You may experience long losing streaks, but also larger wins. However, you’ll need a more substantial reserv to get through periods without wins.
• Volatility 6-7 & C$120-C$180. Here, too, you may go through long periods without a win, and if you have a limited budget, you risk running out of money before the bonus round is triggered.
• Volatility 8-10 and C$200 or even more. We’ve noticed that a large portion of the potential winnings in these games comes from rare bonuses and high multipliers. However, you should be aware that there’s a real risk of running out of money before these features trigger.

Don’t forget that no amount of money guarantees you ll have enough for the entire session or that you’ll win. We’re providing you with general guidelines. This way you can understand how volatility can affect the duration of a session.

Low-Volatility Slots (1-3) and How Much You’ll Need to Play

Low-volatility slots offer more frequent wins. This means your balance can change from one spin to the next, even if your wins are small.

NetEnt’s Blood Suckers is the game with the lowest volatility on our list. It has a volatility score of 2. The RTP is 98.00%, which is an excellent value. In addition, NetEnt officially reports a win frequency of 45.00%, which is clearly one of the highest on our list. This means that one out of every two spins results in a win.

Starburst by NetEnt is also a good choice and receives a score of 3. The RTP is 96.08%, a figure we’ve confirmed directly with NetEnt. However, the provider allows operators to configure the RTP, so it’s best to check the information at the casino where you’re playing. This game’s volatility is low to medium.

We believe both games can be a good choice if you want to meet a wagering requirement or if you want to play a short session. A budget of C$30-C$40 is suitable for one of these games.

Medium-Volatility Slots (4-6) for a More Balanced Experience

With medium-volatility slots, we say that balance is key. Wins come often enough, and every now and then you can land a bigger win.

NetEnt’s Twins Spin scores a 5 on our scale and has an RTP of 96.55%. We consider it a medium-volatility game. It features a distinctive mechanic based on twin reels that allows two to five adjacent reels to lock onto identical symbols.

IGT’s Cleopatra also receives a score of 5 from us. However, we must admit that things are a bit more complicated here. Sources contradict each other; some classify the volatility as medium, while others classify it as high. Not even the RTP is the same everywhere! We’ve included it in the medium volatility category because this is the classification used by most operators. Still, we wanted you to be aware of these differences.

Wolf Gold by Pragmatic Play has a score of 6. Third-party sites assign this title a medium volatility level. However, we were unable to confirm this on the game’s official page. The RTP is 96.01%.

We’ll wrap up with another slot, Mega Moolah. Although it also has a score of 6, its RTP is 88.12%, the lowest on our list. The reason is that a portion of every bet goes toward the progressive jackpot.

High-Volatility Slots (7-10) That May Require C$200 or More

Immortal Romance from Games Global sits right at the lower end of this category. It has a score of 7! The game has high volatility, but you should know that things vary from one bonus feature to another. In the Michael bonus round, the volatility is noticeably lower. If you want more of a thrill, the Amber feature delivers just that. The game’s RTP is 96.96%.

Next up is Book of Dead from Play’n GO, which has a score of 8, and the provider classifies it as a high-volatility game. The RTP is 96.21% when playing in the standard configuration. Be careful, you may also find versions with a lower RTP, so check directly with the casino where you’re playing.

Bonanza Megaways also receives a score of 8. It’s a popular game, you’ve probably tried it by now. It has high volatility, sometimes even very high. And it offers plenty of free spin rounds, you’ve got to give it a try.

Big Bass Bonanza rounds out the group of games with a score of 8. Its RTP is 96.71%. However, we must acknowledge that the hit frequency is relatively low. According to the independent sources we consulted, it ranges between 12.6% and 13%.

We should also mention Dead or Alive from NetEnt. The provider has published the win frequency, which is 30.00%. So we’re dealing with extreme volatility. A large portion of the winnings is concentrated in the bonus round.

We recommend that you set aside a budget of at least C$200 for all these games. However, even that won’t guarantee that you’ll reach the bonus round before running out of money. Don’t forget, gambling is also based on luck!

Reference Table of Rated Games

If you’re used to filtering games by volatility, RTP, or provider, Isabell Dreghiciu, the editor of this article, has put together a table with the most important information:

Not corroborated means that we were unable to find an officially published win frequency. So we left the field blank. We don’t want to make assumptions or write false information.

Choosing the Right Slots for Your Budget

Let’s look at things from a different angle. Depending on how much money you have in your account right now, which game should you choose?

If you have around 50C$, choose slots with volatility between 1 and 3, such as Starburst. The advantage is that you’ll have enough spins and a good chance of still having money left even after playing for a full hour.

For a budget of 75-100 C$, you can try slots with volatility up to 5-6. Look for Wolf Gold, Cleopatra, or Twin Spin. Don’t forget that dry spells can be longer, so keep your bets small.

If you have around 150-180 C$, you can definitely move on to games with volatility of 7. Take Immortal Romance, for example it’s a good choice, but keep in mind that you’ll experience greater fluctuations than with the slots mentioned above.

On the other hand, if you have a budget of $200 or more, you can also check out slots with volatility between 8 and 10. How about Book of Dead or Big Bass Bonanza? There are plenty of games you can try.

Keep in mind that none of these will guarantee a specific outcome. It’s just a way to estimate how well you can handle losing streaks. As you can see, a larger budget give you more time to weather even a series of unlucky spins. With a small budget things change.

Canadian Casino Availability Notes

Ontario and Alberta are the only provinces in Canada where the online casino market is regulated. Here you’ll find operators registered with the AGCO. If you live in another province, you’ll find casinos licensed internationally typically in Malta, Curaçao, or the United Kingdom.

When it comes to game availability, rest assured. You’ll find games from NetEnt, Play’n GO, and Pragmatic Play that is, from the industry’s leading providers. Even the games we mentioned above are produced by these providers. However, if you’re looking for Big Time Gaming’s Megaways games, keep in mind that they aren’t available on all platforms. However, you’ll find them at a few casinos!

That said, nothing and no one can guarantee that a casino offers a specific game or a specific RTP. The game selection is constantly changing. It’s up to you to check availability before signing up at a casino.

The Bottom Line for Players

Volatility isn’t a cause for alarm, we don’t want you to misunderstand us. It’s a factor you need to consider when setting your budget. If you choose a game with volatility of 8, 9, or 10, you’ll need a more generous budget and more patience. The biggest mistake isn’t choosing a high-volatility slot, but choosing one for which your budget is too small.

We recommend choosing volatility based on your budget, not the game’s theme. If you have a budget of 50 C$, a slot with volatility 9 can cause you to lose your money quickly. On the other hand, if you choose a slot with volatility 2, you can play for about an hour.

How We Verified This

All the RTP values you see in this guide are standard values published directly by the developers. We didn’t stop there. We verified them by comparing with public information provided by IGT and Big Time Gaming.

All volatility ratings are based on the labels or numerical ratings published by each developer. Where necessary, we supplemented this information with our own rating system on a scale of 1 to 10. Where sources did not agree on the classifications, we have clearly stated this.

Keep in mind that volatility assessments and budget ranges are planning tools, not guarantees of a session’s outcome. Even when you choose a budget that’s appropriate for the game you’ve selected, you might run out of luck and lose your money faster than you’d expect.

We recommend that you set a budget you can truly afford before you start playing. If the game is no longer fun for you, you can take a break at any time. Additionally, if you live in Canada, you can contact support services such as ConnexOntario at 1-866-531-2600.

We, the experts at CasinoAlpha, have written this article for informational and educational purposes. Do not treat it as financial advice, as that is not its pupose. And don’t forget! The RTP values and volatility ratings are figures we recorded at the time of writing this article. These can change from one day to the next, so it’s best to check for yourself.