slotplayer Quote:
The word ‘Variance’ essentially refers to risk-over-time on a slot machine. In a nut shell; a low variance slot will give you a longer play time, at lower risk, than a high variance slot. BUT the chances for huge wins are quite slim. Whereas a high variance slot may not give as much play time, as each wager is higher risk, but the wins it provides can be staggering! There is the middle road as well – medium variance; on these slots you can play for a good long time (depending on your bankroll and bet size) and still stand the chance to make a crushing spin
Sounds like "hit frequency" to me. A slot with a high hit frequency will give you a lot of small hits but seldom a big win (same as low variance). The land based slot Wheel of Fortune is considered to have a high hit frequency with something paid back at more that 50% of the spins.
A slot with a low hit frequency (same as high variance) suchas the land slots Red, White, and Blue and Five Times Pay and Ten Times Pay nearly all wins are for more than the wager but are not that often.
I know for land slots, generally the higher the lowest reward on the paytable, the lower the hit frequency.
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