Posting to keep active on this site
3Dice slots are higher variance than most, and they can generate some truly spectacular, if rare, payouts.
Greetings, I got a few emails saying I haven't visited in a while and requesting a post, so I thought I would respond to this interesting statement.
Recently I have been doing the programming for some slot machines for a Nevada based slot machine company. They request two things when I do the programming. One of the things is called the RTP, the "Return to Player" -- this means that over the long run, what fraction of each $1 invested will be returned to the player. The RTP of the slots I have been making is under 90%, which is pretty tough on the players. The other thing they request is the variance.
The RTP has to be separated from the variance when designing a game. A variance of 0 on a game with RTP = 90% would mean that on each pull of the handle, with a $1 wager, the player won 90 cents (lost 10 cents). Period. That would not be much fun, but is essentially an equivalent form of the game from the casino's perspective.
Most people when they get a paycheck, expect to earn $x dollars, with 0 variance. If you told someone they would get paid an average of $1000 per week, over the long run, but on some weeks they might earn $0, and some weeks they might get paid $2000, and they never knew which would happen, well, that would make it hard to pay the bills. So a variance of 0 is good when it comes to income and bad when it comes to enjoying a casino experience.
When someone speaks of high variance slots, it is really not the key point. The key point is "what is the RTP?" Slots that return 92% or more are good slots. Slots that return 96% or more are great slots. Slots that return under 88% suck. That's the theoretical RTP built into them by the programmer, not the individual's experience.
As for variance, I've built slots that are high variance and low variance. They pay the same in the long run, but some players like to go for the few but huge wins, others like to play games that stress more frequent lower payouts. In either case, the player loses. In the first case, the variance is higher.
So, in practical terms, one can compute these two numbers for ANY casino game (slots, table games, etc.): the RTP and the Variance. The RTP is the actual amount the casino is winning from you when you play the game. The Variance describes the ride you go on while the casino takes your money.
If I wanted an answer, and a casino rep was willing to come forward, the real question is the RTP, not the variance. You're going to lose at the rate determined by the RTP. That's the bottom line.
Hope this helps clarify the matter,
--Eliot