How We Compile the Best Paying Online Casino List
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.
✔️ Banking Methods Variety & Quality
Some payment methods are not suitable for frequent use and/or transferring large amounts. Even if you get the best online casino payout values, it’s meaningless if you can’t transfer it. Therefore, it is necessary to analyze the payment options one by one and make sure that they are suitable for a high payout cycle: this is what we pay attention to first in our online casino reviews.
✔️ Casino Payout Percentage & House Edge
We’ll explain what these mean in reviews below, but to put it simply, every payout online casino site both distributes real money to players and makes a certain amount of profit. The first should be as high as possible and the second as low as possible. In the highest paying online casinos, the payout amount is always high, and the house edge is always low: this is what sets the best payout online casinos apart from others.
✔️ Progressive Jackpots Availability
There is no limit to the amount of real money that can be accumulated in progressive jackpots: the pool continues to fill up until one player wins and can sometimes accumulate millions of Canadian dollars. For example, Mega Moolah paid €17,879,645 (approximately CAD 24,800,000) in October 2015. Every progressive slot has the potential to create millionaires and the best payout online casinos should therefore offer as many of them as possible.
Casino Payouts Definition
Payout, in its simplest form, is the name given to the payments made by an online casino. It represents the total payout made by Canadian online casinos during a given period (for example, a month). In practice, however, it is used slightly differently: in an online casino with highest payout percentage, 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?
Payout Ratio Calculation
The payout percentage is where the amount of real money you receive is taken from how much you have already bet. It is a way for players to be able to judge how much they are actually going to win when they play games. This ratio is normally worked out as RTP, which stands for Return to Player. If the RTP or payout ratio is around 96%, this means you have a 96% chance of winning back the real money you have already spent. Anything extra you earn that is more than what you spent is the rest of the percentage. While it may not seem like a lot of winnings, it assures you can win back what you spent.
How to Find Out the Payout Percentage
The payout percentage is normally released by the provider of the casino games. This mainly applies to slot machines. RTP will be shown as the payout percentage on the slot game on both the provider’s website and the casino site itself. For table games, this is revealed through online general knowledge and only if the casino site allows it. The house edge is another way that the payout ratio is calculated when compared to the casino directly. High-paying online casinos will sometimes not reveal their house edge, since it is mainly just for them to work out how much real money they can make.
House Edge: The Profit of Casinos
We mentioned above that online casinos get their profits from player bets. House edge differs from a payout percentage 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 way for players to grasp just how lucky they can be that isn’t payout percentage. There are a lot of managing expectations in online gambling that help prepare you for the losses. In gambling, you will most likely lose a lot before winning big. Especially, if you keep chasing after the big winnings with no intent on stopping.
Always judge the variance before deciding if it’s worth the risk. Compare what you are expecting to the true reality of the situation. If you are expected to win but find yourself losing, this is considered a high variance. The low variance will be a casino where you are expected to lose a lot but find yourself winning lots of smaller wins. Decide for yourself which variance works best for you.
Best Online Payout Casinos Payment Method List
Only the best payout online casinos will contain a list of exceptional payment options. Many of these banking methods will allow players to deposit and withdraw large amounts. Because of the sheer amount of money used in a payment method, hardly any fees will be applicable. Find the top payout casinos with the most varied options.
✔️ Credit Card
Probably the most common and most practical payment method. It is satisfactory in terms of payout speed and all the best payout online casino websites we recommend support this method. Visa, Mastercard and Amex are the main options, and all can be used for both deposits and withdrawals.
✔️ Bank Transfer
Very safe but not good in terms of payout speed: a transfer can take several days to complete. Therefore, it is not possible to say that it is one of the best highest payout online casino methods. But you can try online banking, which offers the same level of security and fast payouts: Trustly, iDebit, and Interac can be used that way.
✔️ Electronic Wallets
Unfortunately, Neteller, Skrill, and PayPal cannot be used for gambling transfers in Canada. However, you can still use some alternatives such as ecoPayz and MuchBetter. It is a suitable option for frequent and large payments and the transaction fees are quite low. Payout speed is a few hours at most.
✔️ Cryptocurrency
Cryptocurrencies such as Bitcoin, Ethereum, and Litecoin can also be used at the best payout online casino sites. Payout speed is measured in minutes and transaction fees are extremely low. Moreover, it provides more security and privacy in addition to fast payouts. However, its use requires technical knowledge and is not as practical as other methods.
Any online casino reviews 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.
How to Get the Best Casino Payouts: Ultimate Tips
- 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 percentages are. In general, prefer the best payout casinos with rates above 95%. All the highest payout online casino websites we have selected for you have this feature.
- Always be sure to check out the RTP of the game before playing. It can provide a great insight into the likeliness of winning with but a single percentage. You can decide whether it is worth the risk or if you are comfortable with what is provided.
- 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 bonus and other promotions, check the wagering rates to make sure they are not too high (20x – 30x is ideal).
- Choose the right games in the best payout casinos. Some games have more payout potential than others like with $300 free chip no deposit casino, so they can make you win more – more often. Below we share our recommendations on this subject.
Highest Payout Casino Games
Some casino games have a greater payout potential, according to reviews. 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 percentages.
Slot Machines Payout Percentage
Slots cannot compete with card and table games in terms of payout potential. There are real money 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.
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.
Casino Roulette Payout Percentages
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 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 Casino’s Payout Percentage
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 in the reviews 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 websites 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 very high payout rates 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.
How to Find the Best Payout Casino Games
The way to find the best highest payout online casino games is quite simple. It involves looking at various pieces of information which are all provided by the game itself. You should take a look at not just the RTP, but other info like symbol prizes, bonuses, and jackpots.
Top Tip: Even some of the best payout online slots have dynamic RTP ranges. This means the developer specifies multiple RTP values and leaves the choice to the casino. So, a slot may have 95% RTP at a casino with best payout but 97% at another. Even if you are playing a slot you know very well, always check its RTP using the paytable.
Casino’s RTP Definition
RTP is short for the word “return to player”. It is also known as “payback” and “payout rates”. 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 as “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.
Certifying Highest Payout Casinos in Canada
We mentioned at the beginning of this guide that you can use the reports of independent auditors to view and verify the best casino payout. Below we share a list of the most trusted organisations that produce such reports.
- Gaming Laboratories International (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: The London-based testing agency, eCOGRA, 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 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 by a Responsible Gambling Council.
- 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.
Now It’s Time to Play at High Payout Casinos!
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!