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Low volatility slots typically have higher hit frequencies, while high volatility slots may have lower hit frequencies but larger potential payouts.
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The same RTP (Return to Player) can apply to both a low and high volatility slot, but how that RTP plays out will feel very different.
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Game Name Provider RTP(%) Volatility (Low-High) Book of Dead Play'n Go 96.21% High Starburst Netent 96.10% Low Big Bass Splash Pragmatic Play 96.71% Med-High ...
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When slot machine games are created, they are given low, medium or high volatility. In the case of high-volatility slots, payouts may be larger but also infrequent.