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Low variance slots pay smaller winnings often. High variance slots are the opposite: you may not get any wins for a while, but when the win comes - it’s big.
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High variance may result from an algorithm modeling the random noise in the training data (overfitting).
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The most popular fantasy games can have low, medium, or high variance. Gamblers will receive regular payouts in small sums of money by choosing a slot machine with low friction.
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Medium variance slots are pitched in between low and high-volatility games.
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High variance slots are destined for gamblers who are willing to play for huge wins. Kings of Chicago is a great example in that direction because it features not only a high RTP but also a high variance, which makes it ideal for our example.
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The medium-variance slot was released in 2019 and boasts a high RTP rate, instant cash rewards, and bonus features, including free spins.
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Think of it as the game’s “risk profile.” High variance games like some online slots on Hollywoodbets might pay big, but not often.
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In the world of online slot machines, the variance level of slots can be broadly categorized into 3 levels, high variance, medium variance, and low variance.