5 Of the Best Online Casinos That Payout in 2020
When it comes to selecting an online casino, most individuals lean towards one that offers a large variety of casino games, has convenient banking options, and attractive registration bonuses. While these factors are important, the payout percentage, payout rates, and how fast you are paid out should be taken into consideration as they determine your potential win rate, how much money you will take away after a win and how long payment takes. With this in mind, let’s look at these terms in depth, find out which online casinos have the highest rates, and why playing at these sites are beneficial to you.
Understanding Winning Percentages, Win Rates, and Fast Cash Outs
- Payout Percentages: are the amount of paid out winnings compared against the number of bets placed. So, an online casino that has high payout percentages of 98% returns $98.00 out of every $100.00 placed, making the house edge a low 2%. Keep in mind that not every player will receive back $98.00 for every $100.00 spent, as this only demonstrates the winnings that are paid out on average against the number of bets placed.
- Payout Rates: tell you how likely you are to win or lose when betting at a specific game. The payout rate is calculated by comparing how much a player wages against how much of it is returned to the player.
- Fast Payout Options: online casinos that have fast payout options or quick payouts generally process payments within a day or two. Canadian casinos that offer quick payouts allow their players to choose from a wide variety of secure withdrawal methods, often provide additional benefits via loyalty rewards, and allow casino goers to get their money quicker. Fast withdrawal methods include eWallets, PayPal, Skrill, Neteller, PaySafeCard, eCheck, and Credit/Debit options.
When choosing a casino based on payout percentages, you want to look at which games have these higher percentages attached to them. Most commonly, this is Blackjack, Craps, and Video Poker but you will also find the highest rates among the slot machines.
Online Casinos with Highest Payout in Canada?
Jackpot City
With a massive payout percentage of 97.8%, Jackpot City spearheads the leaderboards in its return on investments. Winnings are processed in just 1-2 days, and can be safely withdrawn via Mastercard, Visa, Instant EFT, cheque, Direct Bank Transfer, eCheck, EcoPayz, iDebit, Instadebit, Neteller, PayPal, Postepay, Qiwi Wallet, Skrill, Web Money and Yandex Money. Although, there is a $20 minimum deposit, your first 4 deposits are 100% matched up to $1600, and give you access to over 650 games. Jackpot City uses Microgaming’s casino software.
Ruby Fortune
Close behind Jackpot City, Ruby fortune boasts an impressive 97% payout percentage and offers its players over 500 casino games using Microgaming casino software. Withdrawals are generally processed within 2-4 business days and can be securely withdrawn through, VISA/Mastercard (Credit Card), Visa Electron Debit Card, iDebit, and Skrill. Ruby Fortune offers up to $750 free in matching welcome bonuses across your first 3 deposits ($250 each). The minimum deposit at Ruby Fortune is $25.00. You can take your casino games with you as Ruby Fortune offers mobile gaming which has access to slots, video poker, and card games.
Spin Palace
Another heavy hitter in the world of online casinos, Spin Palace offers a payout percentage of 97.4% to its players across more than 600 unique games. This online casino uses Microgaming’s casino software, providing players with slots, video poker, progressive jackpots, roulette, blackjack, and even live casino games. Online casino players can expect a 1-3-day cash out process using any one of the following withdrawal options, VISA Mastercard, VISA Electron Debit Card, Mastercard (Credit Card), iDebit Bank Transfer, Neteller, and Skrill. Spin Palace offers every new player up to $1,000 free when registering with a real money account. This is a match bonus that is done across 3 deposits, the first being up to $400, the second being up to $300, and the last being up to $300. The minimum deposit at Spin Palace is $20.00 and they offer both Android and iPhone mobile casino games.
Betway Casino
Although Betway offers a slightly lower payout percentage of 95.8%, they have dived into the realm of sports and esports in order to set themselves apart from the crowd, coupled with 10 free bets each week. Betway offers over 450 casino games, provides the world’s best selection of sports and esports games and tournaments, and provides new Canadian customers with up to $1,000 in welcome bonuses. The matching bonus is 100% with up to $250 on your first deposit of $20 or more, $250 on your second deposit of $20 or more, and $500 on your third deposit of $20 or more. Withdrawal transactions is 1-5 days and you can safely withdraw with the following methods, VISA Electron Debit, Mastercard (Credit Card), VISA Credit Card, PayPal, iDebit Bank Transfer, Direct Bank Transfer, and Skrill.
The Royal Vegas
While the Royal Vegas casino is not the highest for its payout percentage, it still pulls in a very respectable 96.3% and is quite popular among Canadians for its 24/7/365 days of online support. The Royal Vegas offers new Canadian players a welcome bonus of $1,200 free across 4 deposits. This is a matching bonus of 100% of $300 across your first 4 deposits. The Royal Vegas uses Microgaming’s casino software, providing players with over 700 games across online slots, online table games, video poker, casual games, progressive jackpots, live casino, Vegas, and poker. Some of the featured games include Alaskan Fishing, Avalon Online Slots, Adventure Palace Online Slots, and Thunderstruck. The Royal Vegas also offers some of the most popular themed online casino games including, Tomb Raider, Jurassic Park, Hitman, and Beach Babes. Withdrawal transactions at the Royal Vegas is 1-4 days and withdrawals can be made through EcoPayz, Neteller, Solo, EntroPay, Maestro, VISA, Cheque, Skrill, Bank Wire Swift, Bank Transfer, Credit Cards and Debit Cards.
The Benefits of Playing at High Payout Canadian Casinos?
When you play at popular casinos with high payout rates, you are better able to make an informed decision on which games to play, as games with higher rates are more likely to earn you winnings. Coupled with high payout percentages, you are also receiving the maximum amount of returns on your winnings, allowing you to play longer within the casino. Plus, Canadian casinos that publish and highlight their payout percentages, are far more likely to be reputable, trustworthy, and unlikely to have difficult terms and conditions that cause payment discrepancies.
