Volatility (Variance)

Volatility (or variance) describes how far a game's results stray from the average. A high-volatility game pays rare but potentially huge wins, with long dry spells; a low-volatility game hands out small, frequent wins.

Volatility is independent of RTP: two games can share the same RTP yet feel completely different. It is why sky-high multipliers in game shows stay rare events. Understanding it helps manage bankroll and expectations, without the illusion that a losing streak is "due" to reverse.