The concept of volatility is associated with the theory of probability. It means a mathematical deviation from the expected result. In the gambling industry, this value shows the level of riskiness of a particular slot game.
There are three main types of volatility:
Low. Such slots bring frequent small wins. As a rule, the amount of the prize does not exceed the amount of the bet made by a player.
Medium. The size of the prize fund is almost equal to the frequency of winning combinations.
High. Winnings do not happen often. However, their size significantly exceeds the sum of bets.
It is important not to confuse volatility with Return Percentage (RTP). Volatility shows how much the level of pay-outs can differ from the indicators declared by the developers.