In my personal experience with gambling over the years, arguably the most important questions that arise about the subject of online gambling pertain to the payouts. How can one be certain that there are online casinos that actually pay out? Besides, even if a casino does pay out – what are the payout percentages?
It’s questions like the former two that we will set out to answer in this review. By reading it, you will get a clear picture about what you can expect from online casinos in terms of payouts. If you’re interested in learning more, feel free to read the rest of review by an expert from CasinoNow.
What guarantees that a casino will pay out?
This is a simple question, but it’s one that all online gamblers would like to know the answer to, regardless. And the simple answer is that there are several regulatory authorities that check up on the online casino’s solvency and legitimacy. If things check out – then these regulatory authorities issue a casino license. Some of the most popular regulatory bodies in the field of iGaming are the United Kingdom Gambling Commission, the Malta Gaming Authority, the Curacao Gaming Control Board, etc.
Long story short – the practical advice that a player should pick out is that they should immediately check for certifications and licenses issued by the iGaming regulatory authorities. This information is usually available on the front page of the online casinos – and usually in the form of a stamp of approval. This is the first and most important step to finding the casinos with the highest & quickest payouts.
The importance of payout speed
If we were to define a “good online casino”, then one of the parameters that we would have to implement in our definition is the payout speed. What good are the payouts if they are far too slow? The player should be aware that online casinos differ in how fast they pay out. And this is where the various payment methods come into play. The player will need a certain payment method to do a deposit and then a withdrawal. And once again – online casinos differ in which payment methods they feature.
Payment methods and payout speed
Some of the most popular payment methods that are used in online casinos in Canada are the following:
- various credit and debit cards, such as Visa, MasterCard, Maestro, and the like;
- electronic wallets like Neteller, Skrill, and Ecopayz;
- bank wire transfer and checks;
- various cryptocurrencies like Bitcoin.
It’s important to choose your preferred payment method properly, weighing in all the potential advantages and disadvantages of its use. Bear in mind that, in certain casinos, certain payment methods can be used only for making a deposit and not withdrawals – and vice-versa.
In most cases, the deposits will be instant. But since we’re concerned with payout speed – what can we do to improve this important parameter of online gambling? Which payment methods offer the fastest cashouts?
When it comes to payouts, in most cases, you will need to wait a few days before the money is safely transferred to your account. Finding a fast paying casino is important – but the truth is there is not much variability between the payout speeds of the legit Canada-based online casinos.
We suggest that the player visits the official website of the casino where they’d like to gamble and check if there is a page on payment methods. It’s here that they will be able to see the particular payment methods that they can use to make withdrawals – and the speed with which they will get their money. As a side note – bank transfer is not only a costly option for a withdrawal – but also a slow one. It may take several weeks before you get your money if you use this withdrawal method.
Minimum and maximum withdrawals
Another important factor that we should analyze is the caps that exist on the smallest and the biggest withdrawals that you can make in online casinos. Again – these limits vary between different casinos. The limits are much more uniform when it comes to the lower edge – in most cases, you will be able to withdraw around $20 at a time as a minimum withdrawal.
Things vary when it comes to the high withdrawal limit, though. Casinos have daily, weekly, and monthly withdrawal high limits. Most players are casuals – so they will have no qualm with being able to withdraw “only” $40,000 per month. However, this is a stat that the high rollers should definitely have in mind. Again, consult the payment methods section in the particular online casino where you’d like to play – and see what the withdrawal limits are for the various available withdrawal methods.
Highest casino payouts
And how much money can the player get when playing in online casinos? This depends on two important factors – RNG and RTP. What RNG stands for is Random Number Generator – a piece of software that ensures the randomness of outcome in online gambling games. This ties in with the licenses and certificates issued by the regulatory authorities that we have discussed a few sections above. If an online casino has tampered with its games’ Random Number Generators – then it’s a rogue casino and the player will be scammed into thinking that the games are fair, when they are anything but. And this is why it’s important to check if the games are provably fair before playing – if your goal is to get the biggest potential payouts.
The other important factor is the RTP. This stands for Return to Player. It’s about how much money the casino gives back to the players as a percentage of the bets that it takes in. Different games will have different payout rates. Here are a few examples:
- Mega-Joker slot by NetEnt has an RTP rate of 99%,
- 1429 Uncharted Seas slot by Thunderkick has an RTP rate of 98.5%,
- Super 7 Blackjack has an RTP rate of 99.59%,
- European Roulette has an RTP rate of 98.37%.
What you should be aware of is that the best online casino payouts do depend on the RTP rates – but this is a long-term statistic. In the short term, the RTP rates are much more volatile. Which brings us to the next important category in the field of best-paying casinos…
The games’ volatility
There are high-volatility games and, conversely, low-volatility games. In between the two, there’s also another sub-category of mid-volatility games. Different players will have a different preference in this sense – as per their individual risk tolerance. But if you want to get the biggest possible payout – then you have to take the risk of playing a high-volatility game. You will lose a lot more often here – but once you hit a win, you will win a big casino payout.
Conclusion
Now you’re armed with all the information you need on the subject of the best online casino payouts. Use this knowledge the make the most of your online gambling experience and get the biggest possible payouts in the fastest possible ways. But we’ve failed to mention a critically important factor in getting the biggest payout – luck. Gambling is mostly about luck – and we sincerely hope that you too will get lucky and win a big payout as you gamble playing your favorite games.