High variance slot machines are the daredevils of the casino floor. The Thrill of High Variance Slot Machines It’s crucial for players to understand this dynamic because it impacts how you should approach different games and helps you manage your bankroll effectively. Conversely, low variance slots provide more frequent, but typically smaller wins. High variance slot machines are high-risk, high-reward propositions, offering less frequent, but potentially larger payouts. This term essentially describes the risk level of the game. In the heart of every slot machine, there’s a complex algorithm defining its ‘variance’.