If you dabbled around Bitcoin casino platforms for some time, exploring the ins and outs of various games, you’ve probably stumbled upon the term ‘volatility.’ Namely, different games or even types of bets within those games can have a different level of volatility, usually presented on a simple spectrum of low and high, and sometimes medium.

But what does this term actually refer to, and, most importantly, how does it affect your chances of winning? Let’s find out.

Basic Definition of Volatility

Volatility in gambling is used to determine how risky and potentially profitable a certain bet can be. Better yet, it suggests whether a player is expected to win more often or more seldomly in comparison to the potential payout.

If a bet has low volatility, it will be successful more often but with smaller payouts. Alternatively, a high volatility bet would rarely hit, but it will carry a large profit once it does. Naturally, medium volatility bets are somewhere in between, having both mid-sized odds and payouts.

Examples of Volatility

The best way to show how volatility works in gambling is by explaining it through some specific examples.

Let’s say that you’re playing European roulette, a quite common game on Bitcoin casino sites and one of the simplest gambling games to master. If you were to put your chips on ‘red’ continuously, you would roughly win around 50% of the time with the payout of 1 to 1. This is considered a low volatility bet — a high success rate but a low payout.

On the other hand, if you were putting your chips on a single number, your chances of getting it right every time would be 1 in 36 (roughly 2.7%), but the payout would be 35 to 1, making it a high volatility bet — a low success rate but a high payout.

Many people like roulette because it features all sorts of bets, effectively allowing players to choose the level of risk and, therefore, the volatility they want to play with. However, that’s not the case with all gambling games.

Volatility in Video Slots

Unlike most other traditional casino games, video slots don’t let the players choose between different types of bets. Instead, the reels spin and randomly award nothing, a jackpot, or anything in between. Every spin allows for a chance to win an amount that multiplies your stake hundreds or even thousands of times, which is not possible in games with precalculated payouts like roulette or baccarat.

So, how is volatility determined in video slots? Well, it again has to do with the frequency of wins and their size. A low volatility slot will trigger wins more often, but they will be rather small, as would be the potential jackpot. Alternatively, high volatility slots rarely pay and put the player through a lot of so-called “dead spins.” However, once they do pay out, the prizes are huge.

Should I Make Bets With Low or High Volatility?

The right answer to this question will depend on the size of your bankroll and your gambling goals.

If you have a sizable gambling budget and are looking for a life-changing win, bets with high volatility are the way to go. But if you’re only entering Bitcoin casino sites to have some fun and are satisfied with breaking even, you should stick to low volatility wagers.

Just remember always to gamble responsibly and know what your odds are. Good luck!