If you’re just getting started with casino offers, you’ll probably come across tons of terminology that doesn’t mean a lot to you. RTP? RNG? EV?
Fortunately, the Oddsmonkey team is here to guide you through all the jargon – you’ll be sailing through casino offers before you know it!
In this article, we’re tackling volatility (also known as variance) – a term for how much variation there is in the average size and frequency of wins on a slots game.
How Do Slots Games Work?
Slots games almost all work on the basis of several reels, each of which spins before landing on symbols from a predetermined range. If you match a certain number of symbols (usually at least three), either in a row or along specified paylines, you win.
The amount you win depends on which symbols you’ve matched, as each has a different value. The higher value symbols appear less frequently, meaning that a small win is more likely than a large one.
Most modern slots games also offer bonus features, which either give you free spins or begin a mini game if you land at least three bonus symbols in a spin.
There are nigh infinite variations on the traditional slots format, with new, weird, and wild extra features being developed all the time, but the vast majority of slots games work roughly along these lines.
The outcome of the spin itself is determined by a Random Number Generator, or RNG, which is built into the game software. Each possible outcome is assigned a number, and weighted according to how frequently it should occur.
This ensures that the outcome is fair, but also that it’s reliable, with the ‘correct’ amount in winnings being awarded on average.
The Difference Between RTP And Volatility
‘Return to player’ (RTP) and ‘volatility’ are somewhat related concepts, and people often get confused between the two.
To make sure you never have that problem, we’ll give you a rundown of how each differs from the other.
RTP
Return to player, or RTP, tells you the average percentage return players receive on the amount staked.
For example, for a game with an advertised RTP of 96.51%, on average players will receive £96.51 for every £100 wagered.
It’s important to note that this doesn’t give you any information about the size of those wins, or the frequency of those payouts. RTP is reached over millions of spins, so, unless they pour vast amounts of money into a slots game, an individual player isn’t particularly likely to see results that reflect the RTP.
Volatility
Volatility, meanwhile, doesn’t tell you anything about the average return to player, but does tell you about the typical size and frequency of payouts.
A high volatility game will pay out less frequently, but has a higher chance of a larger payout. A low volatility game, meanwhile, will pay out more frequently, but typically at lower values.
Is Low Or High Volatility Better?
The answer is that it depends. For many avid casino fans, high volatility games are more exciting, because the chance of a major payout is a little higher, even though the risk of winning nothing at all is larger too.
If you’re getting started with Oddsmonkey’s casino offers, however, we’d recommend sticking to low volatility slots games as far as possible.
You’re less likely to win a big jackpot, but your results are likely to be closer to the advertised RTP of the game, with low volatility increasing your chances of modest wins over the course of your wagering and free spins.
We also recommend using low stake sizes for any wagering you have to do, which should reduce variance in your results – this also helps to get you closer to the advertised RTP.
What Are Examples Of Low And High Volatility Games?
It can be difficult to establish the volatility of a slots game. Not all providers list the volatility of their games, so tracking down the most advantageous eligible game when completing an offer can be tricky.
Volatility can also vary somewhat for the same game between different bookies, meaning you can’t necessarily rely on a game to have identical mechanics across different providers.
That said, as a general rule the following titles can be considered examples of low and high volatility games:
| Low volatility | High volatility |
| Blood Suckers | Immortal Romance |
| Jumanji | Dead or Alive |
| Crystal Vault | Big Bass Splash |
| Starburst | Gates of Olympus |
| Age of the Gods: God of Storms | Eye of Horus |
How Do Casino Offers Work?
Casino offers are pretty simple really! Usually, you’ll be required to wager a certain amount of your own money in order to receive a number of free spins.
Sign up offers for new customers are the most generous, but you can still make excellent profits from reload offers for existing customers.
Based on the RTP of a slots game, you can work out the estimated value of any offer you see (though our helpful casino guides will also do this for you!).
For example, let’s consider a typical sign up offer to receive 100 free spins if you wager £10 of your own money.
If the slot game in question has an RTP of 95%, you’d expect to win £9.50 on average from your £10 wagering, meaning a 50p loss.
But your free spins, if they have a typical value of 10p each, are also worth £10 – and if you again play them on a slots game with a 95% RTP, you can expect to make another £9.50 in winnings.
As a result, you would end up with an average of £9 in profit from the offer – not bad going at all!
It’s important to be aware that there is risk in completing casino offers. You won’t get results that precisely match the advertised RTP of a game over the course of just a couple of hundred spins – and in theory you could lose your £10 and win nothing from your free spins.
However, the likelihood is that you will end up in profit overall, and this is ever more likely as you complete more offers, reducing the variance in your results.
Other Ways To Make Money From Online Betting Sites
Casino offers are a great way to make money from the comfort of your own home, but they do involve an element of risk.
Even though you are likely to end up in profit on average from following our casino guides, you shouldn’t ever stake more than you can afford on casino offers, as there is a risk of losing your initial stake.
If you’re starting out with a relatively small kitty, you can look at building up your bankroll with Matched Betting before you embark on casino offers.
Matched Betting is a strategy that involves betting both for and against the same outcome, and using freebies from bookies to come out in profit. Oddsmonkey’s handy tools and guides make this a super straightforward process, even for complete newcomers to sports betting.
To find out more, take a look at our beginner’s guide to Matched Betting – or if you prefer to learn by doing, give our free trial a go and earn your first £29 in Matched Betting profits.
