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Volatility in Slot Games: Low, Medium, and High Variance Games.
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VOLATILITY — Casino slot games may have high, medium or low volatility. Games with high volatility may have higher, less frequent payouts, while low-volatility games pay smaller amounts but more often.
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When slot machine games are created, they are given low, medium or high volatility. In the case of high-volatility slots, payouts may be larger but also infrequent.