Higher volatility, has higher amount of wins, but rarely to get wins, you will get longer losing streak, so you need to spin longer before you get another win, and it needs larger bankroll to withstand the streak.
On the other hand, low-volatility slots provide smaller but more frequent payouts, making them more suitable for players who want extended playtime, especially those betting the
Gambling or trading, it's similar in leverage, multipler used by gamblers and traders. When they go with higher leverages or multipliers, their chance to win is smaller but their risk to lose is bigger.
It's not wrong to say the biggest mistake of gamblers and traders, is they think that if they use like $1 or $5 to bet or trade with high leverage or multiplier, they won't lose big money. That's true with one trade or one bet, but they forget that they will do it many times and sum of trading capital or gambling capital will become big enough. Big enough to lose, not to win by basic lower chance of winning. With trading, it is higher risk of liquidation, and with gambling it is super low chance of winning.