Volatility (also called variance) describes a game's risk profile — how often it pays out and how big those payouts tend to be:
Low volatility — frequent, smaller wins; steady, consistent gameplay.
Medium volatility — a balanced mix of small and larger wins.
High volatility — wins come less often but can be larger; for players who enjoy higher risk and reward.
You can usually find a game's volatility in its Paytable/Info screen.
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