A volatile slot machine is one that offers high-risk, high-reward gameplay. These machines are known for their unpredictable nature and large payout potential. Players should be prepared for long periods of losses followed by sudden big wins. Volatility in slot machines is determined by the frequency and size of payouts. Understanding the volatility of a slot machine can help players decide on their strategy and bankroll management. It is crucial to balance the excitement of potential big wins with the risk of losing significant amounts quickly.