Slots mining: variance and volatility influence

Slots are an old game. As the years went by, slots not only have remained popular, but also developed a lot. BetFury also has some slots from famous providers. To play them successfully, you should know some key points, which will help you to spend your time both enjoyably and profitably.
First of all let’s refresh memory about the system of mining for Slots on our platform. Slots mining price on BetFury started from 8 TRX/1 BFG. Every stage of mining increased the difficulty by 0,5 TRX. Currently, slots mining price is 12 TRX/1 BFG.
In order to mined, you have to play slots. But the amount and time of mining depends on such factors as “variance” and “volatility”.
While describing online casino slots people often use terms “variance” and “volatility”. They describe the deviation from the estimated mathematical expectation, i.e., the risk level in the game. These terms are similar, but let’s take a closer look at slot machine volatility and variance and discover the difference!

WHAT IS VARIANCE?
The term “variance” is mostly connected to poker, but it also concerns online slot machines. This term describes the range of deviations from the expected value. Within the online casino games, variance shows the deviation from the specific values of RTP (return to player).
For example: RTP in slot is 95%. This means that the percent of the invested money, which will be returned to the players is also 95%.
But there is one point: the RTP is not observable with a small number of spins and the variance will increase. Nevertheless, a large number of bets will decrease the variance, and the percentage of RTP will be closer to the specified value.

WHAT IS VOLATILITY?
The term “volatility” is mostly connected with the gameplay and indicates a level of risk involved in the game. By means of it players know how often and in what amount of money they can expect to win. There are three types of volatility: low, high and medium. Let us describe the difference.
High volatility. Such slots rarely give the winning combinations, but massive payouts. If you’re patient and have a large enough bankroll to continue spinning without any big wins, this type is for you. At some point, the luck may smile and you can hit the jackpot.
Low volatility. Little risk of such type of slots makes them most popular within casino gamblers who are not looking for big jackpots and prefer having small but frequent payouts. However, it’s also possible to win big in such slots, but it’s quite a hard job.
Medium volatility. This is the golden mean between high and low slots volatility. It’s a so-called alternative for those, who want to win big, but don’t want to risk too much of their bankroll.

HOW TO CALCULATE VARIANCE AND VOLATILITY?
Variance and volatility can be easily measured. Why is it so important? Talking about online gambling, the risk level is an important factor affecting the frequency and amount of payouts. It helps to choose the slots according to your personal preference: whether you’re interested in big wins and ready to risk to lose fast, or in playing long, but receiving minimum wins.
Variance level measure is more useful to those, who want to track the profit of the project, for example, online casino owners. Let’s imagine, that many gamblers play the slot and make small bets at $1, then the variance will be low. However, if high rollers get into the game making bets of $100, the variance will increase. After all, the payout x100 for $1 and $100 is a big difference.
The slot machine is considered as high volatility if the payout ratio is higher than x10 000. If the rate varies between x5 000 and x10 000, the machine is considered a medium volatility one. Low volatility — is lower than x5 000.
There are three main ways to determine the variation of slot machines:

play the game. There are free demo games today, which allow the user to see the frequency and amount of payments and decide whether he wants to play it, or not.
find the payout rates of each particular slot. You can easily find this information.
surf the Internet reviews and forums. Other players usually write about their gaming experience on some forums and mention the slots volatility as well.

Conclusion
Slots are easy to play, but you should know the volatility of each game, so that you can predict the amount of winnings. Choose the low volatility slots if you like to win more frequently, but note that mega wins may be rare. Choose the medium and high volatility slots for mining if you have a huge bag of coins, but note that the winnings may take some time. All according to your luck!