What is slots variance? Should you even care? Well, yes- this is a pretty important concept for casino players and in particular, of course, slots fans. If you are a fan of the modern day 5 reel slot (read our tips on how to play 5 reel video slots), you ought to know about variance.
Many slots players get the impression that certain slots are rigged, and others pay out more. But do they? Or is it just the variance at work?
Variance is a measure of the riskiness of a slot game. Generally speaking, the bigger the jackpot, the bigger your risk and the bigger the variance.
Slots machine will normally be spoken about in terms of “low, medium or high” variance. Some, such as the Marilyn Monroe Slot will be much more volatile than others like the Lobstermania Slot Machine.
Play at a low variance slot, and you can expect lower (if more steady) payouts. Play high variance slots- like Great Blue for instance, and you are moving into the high blood pressure and adrenaline zone- the wins may not drop in so frequently, but there is the potential there of some big ones. And then there are slots in the middle like the Aliens slot, which sits somewhere between.
Bear this in mind when choosing slots. If you are going to play high variance, you are going to need a bankroll to ride out the dry periods. If you play a high variance slot with £100 and you are betting 3 quid a spin, your budget will be wiped out in no time- you´d be better off playing a low variance slot. You could always aim for a medium variance game like the Iron Man 3 slot, for example.
High Roller slots players will tend to play the highly volatile (high variance) games with a decent budget. They´ll be fishing for the big win.
Always remember, when you are playing, that the casino has the edge. There is nothing you can do about that. Don´t chase your losses and make sure you have a good plan before you start spinning those reels of when you are going to quit the machines (if you either hit your playing budget, or your profit target).
(Read our article on Casino Churn).
You must be disciplined, and understand that the casino is aiming to make you play as long as possible, so that it can claw your money in. So if you win big, don´t keep playing for another win.
Quit, and take the profit.
The best advice I ever heard from a big progressive jackpot winner was the following: “When I had confirmed that the progressive jackpot had hit, I first confirmed it with the casino, and then obviously went mental. And then I checked to make sure that there was no one below, and threw my laptop out of the window.”
Pretty good advice after a big win if you are lucky to land one of the truly big ones.
Cost of new laptop these days: £500?
Savings you make by not being tempted to just spend a little bit of your win trying to win again……I would guess, easily over £500.
Of course, you could always sell the laptop on eBay and make a bit more cash that way.