What does the word volatility mean to you?  You might think of a person that is volatile, meaning they might be a bit hot tempered or prone to make rash decisions.  Maybe you'd think of a chemical that is volatile meaning that it might explode at any moment.  Basically, volatile doesn't tend to conjure up something positive.  When it comes to gambling, volatility means something a bit different, although there are some similarities.  In gambling, volatility means about the same as it does with stock investing.  You better expect some big ups and downs.  This isn't necessarily a negative, but you do have to be prepared for it.