Our Criteria to Pick the Highest Payout Online Casino
Choosing the best online casinos and choosing the best payout online casinos are two different things. In the first, elements such as a provider list, customer support, and mobile compatibility are important. In the second, high online casino payout values are important and therefore different criteria must be used. We consider three factors when choosing the best payout casinos for Canadian players and explain how we use them below.
Online Casino Payouts Explained
Payout, in its simplest form, is the name given to the payments made by an online casino. It represents the total payout made by online casinos during a given period (for example, a month). In practice, however, it is used slightly differently: in a payout Canadian casino, for example, this data is represented by a certain percentage (i.e., 91%). So, what do such payout percentages mean? If a casino is said to have a 91% payout rate, what does it really mean?
Calculating a Payout Ratio
Let’s say 100 gamblers play in an online casino in a month and each deposit 10 CAD. This means that a total of 1,000 CAD has been deposited at that casino. But as you know, the casino pays back some of this money: some players win and get their money back (with game winnings added). Others are not so lucky and lose their money completely. The amount of money the casino pays back indicates what the payout percentage is. In this context, if an online casino has a payout rate of 91%, this roughly means that of every 100 CAD deposited into it, it pays back 91 CAD. In other words, the casino made a profit of only 9 CAD from the bets placed by the players (100 – 91 = 9).
As might be expected, the higher the payout percentages, the better. Generally, 95% and above are considered to be in the highest payouts range. In crypto casinos (online casinos running on the blockchain), the payout rate can go up to 99%. In regular online casinos, 97 – 98% payout percentages are good values, but anything over 95% is acceptable.
Finding the Payout Percentage
There is no way to find out what a casino’s payout rate is. This value requires knowing the actual results of the RTP percentages of all games in that casino within a certain time period. So, in order to calculate the payout ratio, you must have access to the casino’s internal financial records. This is not something shared with third parties. There is one exception, however: as we will point out below, best payout online casino Canada sites work with independent auditors like eCOGRA to confirm RTP/house edge figures, i.e., payout percentages.
In this option, payout casinos allow their internal records to be reviewed by third parties. Independent auditors turn their results into a certificate. These certificates mean that the casino’s payout percentage has been tested and verified. Best paying online casino sites always have such a certificate.
The most important thing to know here is that the payout percentage is not directly related to the chance of winning. Even at a highest paying online casino, luck still determines whether you win or not. However, high payout online casinos will have games with higher RTP and larger payouts. This means that your winning frequency (not your chances of winning) will be more satisfying in the long run. Do not think that you can increase your chances of winning simply by playing at a big payout online casino Canada: this is a mistake called “gambler’s fallacy”.
House Edge: The Profit of Casinos
We mentioned above that online casinos get their profits from player bets. House edge means exactly that and shows how much online casinos are making from player bets. In other words, this value is the gross profit of the casino. House edge is always the opposite of payout, and the less the better for the player. Even the best payout casinos will have a house edge and there is no way to avoid it. Therefore, your goal is to choose online casinos with as low a house edge as possible. As a matter of fact, our best payout Canadian casino list includes sites that meet this definition.
The term house edge will be better understood if we give some examples:
- If a game has a house edge of 2.70%, this means that the casino profits 2.70 CAD for every 100 CAD placed on that game.
- If a casino’s house edge is 3.00%, that means that casino pays 97 CAD back to every player who deposits 100 CAD (100 – 97 = 3). Therefore, the total profit of the casino is 3 CAD.
It is possible to calculate a game’s house edge, but it is not possible to calculate a casino’s house edge for the reasons we have explained above (other than independent auditor certificates), as you must have access to the casino’s internal financial records. For example:
- In European roulette, there are 37 numbers on the wheel, and it is possible to bet on a single number. The house edge for this bet is 1/37, so 0.027 (2.70%). With math formulas you can calculate what the house edge is for each game (and every bet on that game).
- To calculate the house edge of a casino, however, you need to access the records of all the games played and won/lost/paid at that casino. This is not possible unless you are an independent auditor or casino owner.
Online Casinos Variance: Your Expectations & Reality
Variance is a term for how realistic your expectations in a payout online casino are. To put it more simply, it can also be defined as changes in your luck. To understand what variance is at payout casinos, we first need to talk about your expectations. For example, let’s say you are playing blackjack and you have a total of 20 points. Whatever guide you read, they will all tell you not to ask for any more cards (stand) because your chances of winning are very high. This is your expectation, which means you expect to win.
However, in reality, the dealer may have 21 and you may lose. This is the “reality” and it may not always meet your expectations. Variance shows how big and severe the gap between expectations and reality is. If you are losing too much while playing high payout casino games, even though you expect to win, you are playing at a high variance casino. Conversely, the casino’s variance is low.
There is no real way of measuring variance of high payout casinos: this will have to be decided by each player over time. Because if you expect to win but lose, it may be because of you, not the casino: maybe you are not making the right bets and maybe you are not as good as you think. In any case, if you are losing while waiting for a win and this has been going on for a long time, it may be better to try your luck at a different payout online casino.
Payment Methods of the Best Online Casinos That Payout
You can find dozens of different payment methods at highest payout casinos. However, as we mentioned above, some methods are better in terms of payout speed and size. If you play at a highest payout online casino, you can expect your winning frequency to be higher, which means you will be making more withdrawals than ever before.
Choosing methods that are suitable for such withdrawals and satisfactory in terms of payout speed will provide you with a more enjoyable and efficient experience. Below, we list the payment & withdrawal methods you can find at the best payout online casino Canada sites and indicate which would be the best choices.
Online casinos support many different payment methods, but the player must choose according to his own budget, expectations, and features of the casino. For example, you can find the methods we listed above at minimum deposit casinos too, but voucher codes and prepaid cards may be a better choice for these types of deposits. In other words, technically, highest payout casinos and minimum deposit casinos offer the same payment methods (and the same payout speed, in general), but what the best picks at each casino will be should be determined by the needs of the players.
Tips for Getting the Best Casino Payouts
- Check out the casino’s RTP/fairness report. Reports by independent auditors like eCOGRA will give you an idea of what the casino’s overall payout rate is. In general, prefer casinos with rates above 95%. All the best payout online casino Canada sites we have selected for you have this feature.
- Check out the paytable before playing a game. The RTP/payout values of the games are shown in this table and if you are looking for the highest payout casino game, you can find it like this. Ideal values are 95%+ for slots, 98%+ for card games, and 97%+ for table games.
- Note that you can also use casino bonuses to increase the payout amount. For example, welcome bonuses give you a free bankroll and you can use it to win more chances. However, before using the welcome bonuses and other promotions, check the wagering rates to make sure they are not too high (20x – 30x is ideal).
- Choose the right games. Some games have more payout potential than others, so they can make you win more – more often. Below we share our recommendations on this subject.
You Should Prefer the Highest Payout Casino Games
Some casino games have a greater payout potential. This is because they have higher RTP rates: the higher this rate, the more often you win and the less you lose in the long run. We’ll explain what RTP is below, but first let’s take a look at casino games with the highest payouts. You can find a list of them below along with their payout rates.
- Blackjack: The single deck version of blackjack without bonus bets should be preferred. With optimal gameplay, it is possible to achieve an RTP of over 99%. Blackjack is the casino game with the highest RTP.
- Slot Games: Slots cannot compete with card and table games in terms of payout potential. There are slots with 99% RTP, but they are rare. In general, the RTP range of video slots is between 95 to 97%. However, it is possible to see much lower RTPs such as 80-85% in progressive jackpots.
- Roulette: There are three variants of this game and the ranking in terms of RTP is French Roulette (98.65%), European Roulette (97.30%), and American Roulette (94.80%). However, French roulette can be a bit complicated for beginners, so European roulette is the most ideal variant.
- Craps: The average RTP of craps ranges from 98 to 99%, but it should be noted that some bets can have rates much lower than that. For example, the RTP of big six – big eight bets can be as low as 91%. Pass/Don’t Pass and Come/Don’t Come are the bets with the highest RTP.
- Baccarat: Baccarat can have as high an RTP as craps and video poker but provided the “no commission” variant is played. In this variant, players do not need to pay a commission to the casino and the payout/RTP increases naturally.
- Poker: There are numerous variants of poker (5 card, stud, community, etc.), each offering a different RTP. However, this value is a minimum of 97% in all variants. In the video poker variant, it can go up to 99%. This variant combines 5 card poker with slot machines and in some rare games it is even possible to get a positive RTP (more than 100).
Top Paying Online Casino Slots in Canada
We mentioned above that slots generally have low RTP rates compared to table and card games. However, you can still find slots with high RTP. Below you can find a list of slots of this type and their brief description. You can find all these slot games at the best payout online casino Canada sites we recommend.
- Mega Joker: This classic slot game has 3 reels and 5 paylines. After winning a certain amount, you can move on to another set of reels and have a chance to win the fixed jackpot prize.
- Mega Moolah: Mega Moolah paid $20,062,600 in 2015 and literally broke the world record. Don’t be fooled by the fact that its RTP is lower than the others, as it still has a very high payout rate for a progressive jackpot.
- Immortal Romance: This video slot has 243 paylines and offers the chance to win up to 12,000 times your stake. In the free spins round, you can choose from 4 different bonuses. Some of these bonuses pay multipliers, while others fill the reels with wild symbols.
- Book of Dead: This classic video slot with the theme of Ancient Egypt has a high variance, meaning its payout frequency will be low but the payout amounts will be high. In regular play you can win 5,000 times your bet. After each winning spin, you can also play a guessing game and increase the payout up to four times.
- Fire Joker: You can win up to 800x your stake in this classic 3-reel & 5-line slot. You also win a free respin if identical symbols appear on two reels. If you like fruit slots, Fire Joker will be one of the best choices.
- Starburst: This is perhaps Netent’s most famous slot. With the Starburst Wild feature, you can fill the reels with wild symbols and make free respins. There are only 10 paylines in this game, but they pay both ways, i.e., both right to left and left to right.
What is RTP?
RTP is short for the word “return to player”. It is also known as “payback” and “payout rate”. This value determines how much of the investment made in a particular game can be recovered in the long run. For example, let’s say you are playing a slot with an RTP of 97%. If you deposit 100 CAD in this slot, you will win back 97 CAD in the long run. In other words, your loss will be no more than 3 CAD. Whatever game you choose, make sure it has an RTP of at least 95% – the higher the better. But remember two things:
- RTP is not a value for the chances of winning. There is no such thing like “you get a better chance in games with high RTP”. But high RTP will increase the frequency of wins and reduce losses.
- You need to complete at least 1,000 spins/rounds to see any benefit from the high RTP. You can’t see a difference by playing a game for a short while.
How can I find the best payout online casino slots?
Finding the slots with the highest payout values is actually not a difficult task: it just takes time. Each slot has a paytable. This table contains general rules, values of symbols, and RTP information. You can open this table by clicking the “help” or “info” button on the interface and check the RTP rates of all slot games one by one. Some casinos list high RTP slots in a separate section for the convenience of the players. If there is no such option, you will have to check all the slots you want to play one by one to find the ones with the highest payouts.
Certifying Highest Payout Online Casino Canada Sites
We mentioned at the beginning of this guide that you can use the reports of independent auditors to view and verify casino payouts. Below we share a list of the most trusted organisations that produce such reports.
- Gaming Laboratories International (GLI): GLI was founded in 1989 and has conducted more than 1.5 million tests to date. You can trust any casino you see with the “Gaming Labs Certified” seal.
- iTech Labs: This Australia-based company has been serving since 2004 and RTP/RNG certification is just one of the services it offers. iTechLabs is an ISO 17025 Certified Software Testing Laboratory.
- eCOGRA: This London-based testing agency was founded in 2003 by the biggest names in the iGaming industry. In addition to testing services, it also sets the ethical standards of the industry.
- SQS: SQS is the only testing agency approved by the United Kingdom Gambling Commission. This Germany-based company also issues certification for the Controlled Goods Program in Canada.
- TST: TST Global was founded in Australia in 1993 and serves both land-based and online casinos. It can test both RNG and RTP of games in a casino.
Start Playing at High Payouts Casinos Right Now
You are now ready to play at the highest payout online casinos and try your luck in casino games with the biggest RTPs. By choosing high payout casino sites you will have the chance to get the highest possible winnings and you will get your money’s worth as well as your time. Using the information in this guide, we are confident that you will have an enjoyable and rewarding online gambling experience: good luck!
FAQ about Best Payout Online Casinos
🔍 How can I find a list of the best online casino payouts?
If you are looking for best payout casino games, you can check the paytable of every game to find the RTP value – the higher it is, the better. If you want to find the highest payout casinos, we share a list of them on our website.
💳 What Canadian online casino pays out the most?
There is no single Canadian casino that offers fast payouts and big wins together: there are many options out there and each one is more suitable for a specific type of player. We encourage you to check the best payout online casino Canada sites and pick one that suits you the most.
🤑 Which online casino has the highest payout?
Casino payouts are dynamic values and they keep changing on a constant basis. In other words, there is no single casino that always has the best payouts. There are multiple best payout online casino Canada sites you can join and we share a list of them in this guide.
🎰 What online casino has the best slot payouts?
Once again, the slot collection of a casino is not a fixed thing: new games are added all the time. So, we cannot name a single casino to answer this question. In general, however, best payout online casino sites have slots with better rates.
🃏 Which online casinos actually payout?
All online casinos that are licensed, legal, fair, and safe actually payout. As long as you play at such sites, you don’t need to worry about payments. If you experience trouble, you can contact customer support or the agency that issued the license.