How to Find the Best Payout Casinos in Canada
Since the beginning of the online gambling industry, players have always been fascinated with how to gauge between a good and a bad online casino. What are the criteria that matter? In many cases, it’s how soon you can get paid from the casino. So, it’s not hard to find a list of good and trusted online casinos in Canada.
But there is still one concept that gets misinterpreted a lot. Payout percentage. We’ve seen all kinds of explanations for the term. Our goal for this post is to bust all the myths and actually tell you which casinos have the biggest payout rate!
What is Payout Rate?
We have to assume that a lot of you are just getting started with the online gambling industry. So, it’s very normal that you might not be familiar with the payout rate. It’s a theoretical projection of how much you can expect to win when playing at an online casino. It’s denoted as a percentage value.
For example, an online casino in Canada with a 95% payout rate means you can win up to $96 for every $100 you wager at this casino. The explanation is fairly simple to understand. The real question is, where did the number “95” come from?
The simplest way to explain the payout rate is to go back to RTP or Return To Player. Every online casino game has an RTP rating where it projects the theoretical return to the players. It’s calculated over a long time so the RTP doesn’t mean anything if you think of a single spin.
If an online casino has 500 games, for starters, all those games have different RTP ratings. Some have good RTP while others are not so good. When you combine all of that and make an average of the RTP, you get the payout percentage of the casino.
Now, we would be misleading you by saying online casino payout percentages are accurate or guaranteed in any way. All it is is a theoretical number. But statistics show us that high payout casinos usually pay more to the players over the long run.
At the same time, there are plenty of other aspects that go into making an online casino a high payout one.
What to Look for in a High Payout Casino?
This is a good question. How do you know if an online casino pays well or not other than looking into the average RTP? We’ll try to share some tricks we’ve picked up over the years dealing with various online casinos.
This information might be a little hard to gather. You need to know how much the casino has paid out previously and how many players. It’ll give you the average payout figure which will, in return, help you understand what brand to go for.
If you can find an online casino that pays out more than 97% of what goes into it, you can rest assured that it’s a high payout casino. And if you spend your time and money here, you can expect to get most of it back over time.
Withdrawal limits have everything to do with whether an online casino is high payout or not. If you can’t withdraw the money you win, what’s the point of winning it in the first place, right?
Operators in Canada tend to set daily, weekly, and monthly limits on customer withdrawals. You should be able to find this data in the T&C page of the website. Or, ask customer support. As long as it’s within your expectations, you can go ahead and play. As you can see, it comes to personal preference.
This is an overlooked aspect of big payout casinos. As the payouts are substantial, no one actually thinks too much about the withdrawal speed. But it matters a lot in our opinion and your job is to find an online casino that processes your withdrawal request within 24 hours.
It’s only obvious that you’ll need reputed payment methods as well as good limits to move high payouts. It means you need to look into the payment methods of a particular online casino and see if the available methods are good enough to handle your volume.
If yes, then it’s good news and you move right in. If not, you may have to consider getting a new payment method or changing the casino brand altogether.
As we already explained before, the average RTP of casino games plays a big role in the overall payout ratio of online casinos. It means the game library and what kinds of games you play will affect the overall payout.
In general, online slots have about 96% average RTP which is very good in our opinion. Table games, on the other hand, vary quite dramatically when it comes to RTP. So, a balance of all kinds of games is important for a good payout ratio.
Which Online Casino Has the Best Payout in Canada?
The thing with the payout ratio is that changes with time. It’s simply because all the numbers involved in the payout calculation process are constantly changing. From what we’ve seen in the past couple of years, Casumo Casino in Canada has maintained a 98%+ payout ratio.
Tips to Make More Money from High RTP Casinos
Just because you’re playing at a confirmed high payout casino doesn’t mean you can make the big bucks automatically. Rather, you’ll need to apply some ingenious techniques to minimise the risk of losing.
- Only play the top RTP games to maintain a good give-take ratio in your casino account. It’ll mathematically boost your payout ratio.
- Don’t stick to one casino only. If you spread your bankroll across multiple online casinos across Canada, you can expect a better return.
- Never skip on any bonuses because they’re the best tool to extend your bankroll. Unless, of course, the bonus terms are not worth the effort.
- Maintain a budget at all times. If you don’t lose any more than you intend to, the concept of high and low payout casinos doesn’t apply to you!