Two slots with the same RTP can play completely differently. Volatility is why, and understanding it is the difference between a session that fits your budget and one that ends in ten minutes.
3 levels
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Same RTP
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Bankroll
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Frequency versus size of wins
Volatility (or variance) describes how a slot distributes its payouts. Low volatility pays small amounts often; high volatility pays rarely but big. The long-run RTP can be identical.
Frequent small wins keep your balance steady. Good for long sessions, bonus wagering and small budgets. Max wins are modest. Examples: Starburst, Blood Suckers.
A balance of regular wins and occasional bigger ones. Most modern slots sit here. Examples: Book of Dead, Gonzo's Quest.
Long dry spells, then large wins, sometimes thousands of times your stake. Needs a bigger bankroll and patience. Examples: Dead or Alive 2, San Quentin, Money Train.
Providers often state it in the game info. Otherwise, look at the max win: 1,000x or less suggests low to medium; 10,000x or more means high.
A rule of thumb: have at least 200 spins' worth of bankroll for low volatility, 500 for high. With €50 and €0.20 spins that's 250 spins, so stick to low or medium volatility.
Volatility doesn't change the house edge. It changes how the house edge feels.
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4 questions
Is high volatility better?
Not better, just different. It suits bigger bankrolls and players chasing big wins.
Does volatility affect RTP?
No. RTP is the long-run average; volatility is the distribution.
Which volatility is best for bonus wagering?
Low. Steady balances keep you playing long enough to clear the requirement.
Can I see volatility in the game?
Often in the info screen, or inferred from the max win.
Gambling should be entertainment, never a way to make money or win back losses. Set limits before you play, and take a break if it stops being fun. Free, confidential help is available 24/7.