First of all, you have to be skilled in understanding the game and the probabilities of each and every hand. Assessing the odds of a specific hand will definitely throw you off to a good start.
This concept is crucial in gambling as it tells players how much they could expect to win or lose overall. And although, as every frequenter of slots casino knows, all casino games have negative expected values in the long term, and this is due to the fact that these values are casinos’ profit gain from gamblers.
So, why then, do gamblers continue to gamble despite knowing that the casino is mathematically manipulated to win against them in terms of gains and losses?
To put simply, players are more concerned with the actual values of each hand. What they’re preoccupied with are their wins in small battles, even as they lose the war in the bigger picture.
Volatility, on the other hand, refers to the fluctuation, the ebb, and flow, of winning and losing in sports games. As said above, even as players continue to lose with respect to the gain of casinos, they still continue to play the game. And this is because of what they gain inside the casino itself, that is, Volatility— the sheer excitement they get as they await the result of either losing or winning.