Online gaming is fun and entertaining, but online gambling is even more interesting because it adds real money to the equation. Canadian gamblers are well aware of it as they keep spending more on digital casino games every year.
According to the report, the Canadian online gaming industry estimates gross sales of $31 billion a year and services purchased $14 billion a year. Gamblers obviously invest a lot of money in online casinos, but this is also why they demand higher payout percentages and faster cashouts.
The highest payout online casinos have become one of the most popular gambling formats in Canada and they deserve a proper explanation and analysis. Here’s what it’s all about.
What does it mean at all?
If you are new to the concept of the highest payout online casinos, you have every right to ask: What the heck is it? It’s a logical question because the format is relatively new and perhaps even confusing for beginner-level players.
Here’s how it works: The highest payout online casino has the highest payout percentage. A payout percentage is simply the amount an online casino gives back to the player relative to his spending. This basically means that the best highest payout online casinos give back generously. Casinos with high payouts rates have all sorts of games, including online poker, blackjack, and slots with high payouts.
This is how the process functions in theory, but it’s always useful to see one or two examples. Let’s say that you are an online gambler who places a bet worth $100, while your favorite virtual casino has a payout percentage of 95%. In this case, you should expect to receive $95 when the game ends.
Another example goes like this: You invest $200 in the casino that typically pays back 98%. Once the gambling session is over, you can expect to receive $196.
What is important to mention here is the fact that we are talking about the average payout percentages. Online casinos usually calculate a percentage based on 1,000 games played, which means you could be facing certain deviations in individual games. However, the bottom line is that the highest payout casinos will lead to the average payout percentage in the long run.
Additional quality criteria for choosing an online casino in Canada
High payout casinos are extremely attractive, but that shouldn’t be the only reason to choose and play on a certain website. On the contrary, you should always look into reviews and trusted guides.
The best cash out channels for online gamblers
Withdrawal speed is a major quality indicator, but it mostly depends on your payout channel. Namely, some payout methods are much faster than others and you should keep it in mind before creating an account.
For example, payment methods such as PayPal or Skrill guarantee near-immediate cash out because it all takes place digitally. On the other hand, wire and card transfers will usually take between two and five workdays to complete.
How to cash out?
When the game is done, you are free to withdraw your funds from an online casino. It’s a simple and intuitive step by step process, but you should see how it works just to make sure you know what you’re doing.
Step 1: Log in to your online casino account using your username and password.
Step 2: Go to the cash out page.
Step 3: Select the amount you wish to withdraw.
Step 4: Choose your money transfer method.
Step 5: Type in the necessary billing information as requested by your online casino.