Best Paying Online Casinos | Highest Payout in August

? What are Highest Payout Casinos

Casinos with a high payout percentage are easy to find if you know what you’re looking for. In general, Canadian gambling sites are more generous than in other countries. Most casinos have an RTP (return to player) of at least 96% and carry games with RTPs close to 100%. Another thing that makes Canadian casinos great is the payout speed. Casinos here tend to have fast withdrawal times, so you can cash out your winnings in no time.

Simply put, the best payout casino is a gambling site with a high RTP, games with high RTPs, and offers fast withdrawals and fair bonuses. We’ve scoured Canadian gambling sites to find you the best list of the highest paying sites in 2024.

Here are the best paying gambling sites in Canada!

? Best Payout Casinos Compared

Here’s a glance at the best payout casinos and how they compare to other sites. You can use the table above to quickly check which sites are worth looking at. If you want more information, keep reading, as I’ve written a detailed review for each site below.

Best payout casinos – review summaries

Check my in-depth reviews of the best payout online casinos with high payouts. Remember that a casino’s payout percentage is based on the average RTP, so the number can change depending on what games are available. You can also see what welcome offer these casinos have, like free spins no deposit and match bonuses.

1. LeoVegas – 98.79% RTP

• Payout Speed: 1-5 days
• Games: 1,300+
• 5 Highest Paying Slots: Book Of 99, Rage to Riches, Money Train 2, Jokerizer, Break Away
• Sign-up Bonus: 30 free spins + bonus up to $3,000

LeoVegas Casino is a famous best payout online casino internationally. It often appears on the “best casinos” lists and is now a household name. This casino site’s focus on user experience and promotions makes it so great. The platform is designed for mobile gaming and works flawlessly on any device. I recommend you play Book of 99 or Rages to Riches to maximize the RTP.

2. JackpotCity – 98.65%

• Payout Speed: 24-48 hours
• Games: 500+
• 5 Highest Paying Slots: Retro Reels: Extreme Heat, Jack Jammer 2, Kings of Chicago, Simsalabim, and Devil’s Delight
• Sign-up Bonus: 295 free spins + cash bonus up to $1,600

Jackpot City Casino is one of Canada’s most popular online gambling sites. While the site hosts a limited number of high payout casino games, it has one of the highest payout percentages in the country. The casino has maintained its popularity by offering huge welcome bonuses for new players and regular promotions for registered players. If you’re after high RTPs, I recommend you check out Retro Reels: Extreme Heat and Devil’s Delight slot games.

3. 888Casino – 98.26% RTP

• Payout Speed: within 3 days
• Games: 1,000+
• 5 Highest Paying Slots: Gold Blitz, Mad Max Fury Road Megaways, Book of Scrolls, Bigger Bass Bonanza, Hyper Strike
• Sign-up Bonus: $25 no deposit bonus + 100% up to $1,000

888Casino is an amazing choice for new players. All newly created accounts get $25 for free; no deposit is required. So, you can start playing and trying games without adding a cent. However, while I’m happy with the generous offer, it’s not the best when it comes to high payouts. The bonus has a wagering requirement of x30, which means you might end up losing money just by trying to meet the limit. If you’re ready to do this, I suggest you try Gold Blitz and Book of Scrolls.

4. PlayOJO – 97.84% RTP

• Payout Speed: 48 hours
• Games: 3,000+
• 5 Highest Paying Slots: Wild Cauldron, Peking Luck, Wild Flower, Dead or Alive 2, and Rome the Golden Age
• Sign-up Bonus: Wager-free 81 free spins

PlayOJO is the best no-wager casino in Canada. All bonuses come without any wagering requirements, and there’s no max limit on how much you can cash out. The casino became popular by standing behind its mottos: no funny business and all wins paid in cash. Indeed, this casino doesn’t have some casino points that need to be exchanged for real money, nor does it require you to finish absurd rollovers. My slot recommendations on PlayOJO are Wild Cauldron and Rome the Golden Age.

5. Spin Casino – 97.34% RTP

• Payout Speed: 48 hours
• Games: 600+
• 5 Highest Paying Slots: Immortal Romance, Jungle Jim and the Lost Sphinx, Ingots of Cai Shen, Fortunium, Magic Money Maze
• Sign-up Bonus: 170 free spins + 100% up to $1,000

Spin Casino is a slot site with a heavy emphasis on Microgaming titles. The casino offers games from dozens of other providers but mainly focuses on slots. This high payout online casino is mostly known for its simple design and free spins offer. If you want to try your luck at Spin Casino, I recommend you play Immortal Romance or Jungle Jim.

? Best Paying Casino Games

Slot games are not the only casino games that can give huge wins. Table games are one of the best paying games in the industry, especially if you play against a live dealer or real players. Poker, Roulette, Craps, and Blackjack have much higher return-to-player rates when playing the live version. Try the classic versions of the games below when you’re aiming to maximize your wins.

1. Blackjack: 99.40%
2. Baccarat: 99%
3. European Roulette: 97.30%
4. American Roulette: 94.74%

Highest Paying Online Slots

Real money online casinos in Canada carry thousands of games with different RTPs. The online slots with the highest RTPs have the highest payout rate. Generally, new online casinos will try to enter the market by offering such games, so keep your eyes open. I’ve listed the best paying slots in August below.

? What is a Payout Percentage

A payout percentage is a combination of multiple things. Generally, you could say that an RTP is what makes up the percentage. However, other factors affect the overall number. When considering the full picture, you must consider the RTP, volatility, house edge, and payout speed. Let’s take a closer look at all these factors and why they are important.

RTP

RTP stands for “return-to-player”. Simply put, it determines how much money a slot machine or a casino game will return over time. Here’s a simple explanation: If a game has an RTP of 95%, it means that, on average, for every $100 that you bet, you can expect to get back $95 in winnings. The remaining $5 is the casino’s profit over the long term.

So, a higher RTP generally suggests that a game is more player-friendly, as it implies a higher chance of players getting some of their money back. Players often look at RTP when choosing which games to play, as it gives them an idea of how favourable a particular game is in terms of potential payouts.

Volatility

While some consider the RTP to be the most important part of a best payout online casino, another crucial factor to consider is volatility. Players often skip over this information and focus solely on the return-to-player rate. Volatility determines the frequency of wins. So, the lower the volatility, the more frequently you can trigger a win. In contrast, high volatility games trigger a win very rarely.

Now, you may wonder why anybody plays games with high volatility. The catch is that the higher the volatility, the higher the win. So, while a game with low volatility will trigger wins more often, you won’t be getting a lot. High volatility games are high-risk games that can either take all your money or, by some luck, trigger a huge win.

House Edge

You can easily check the RTP and volatility of any game online. I’ve even collected some of that information on this page. However, one factor that is not publicly shared is the house edge. This is kept secret because, essentially, it’s the casino’s advantage over the players. The percentage of each bet the casino expects to keep as profit in the long run.

Here’s a simple explanation: If a game has a house edge of 5%, it means that, on average, the casino expects to keep $5 for every $100 that you. The house edge is the opposite of the Return to Player (RTP). While RTP represents the percentage of bets players can expect to win back, the house edge represents the percentage the casino expects to keep.

In short, the house edge is the casino’s built-in advantage, and it’s how casinos make money over time. Be aware of this edge, and keep in mind that casinos are built to win. After all, we all know the famous saying, “The house always wins.”

Average Payout Speed

Finally, the last piece of a best paying casino is the withrawal speed. While this doesn’t directly determine how much you can win, it affects when you will receive it. You need to think about two things: wagering requirements and withdrawal times. The first one can hinder your ability to cashout money. If you win big but still have a high requirement to meet, you may end up using all the money you’ve won.

On the other hand, withdrawal time is simply the time it takes for the money to appear in your bank. This process has two steps: first, the casino clears the payment, and then your bank processes the transaction. So, even if a casino is super-fast with its withdrawals, your bank or payment service may be slow to handle such transactions.

? How to Find the Highest Payout Casinos

Finding the best payout online casino can be easy! I’ve listed the best ones in Canada, so you don’t have to. Simply scroll back up and look at the RTPs and volatilities of different online casinos. However, if you want to research yourself, here are some tips to guide you toward the right path.

• Check the RTP: You can check the RTP of any game by going to the software provider’s website and searching for the game you want. Alternatively, you can entermthe name of the game and “RTP” in your favourite search engine and see what you can find. A good rule of thumb is that anything over 96% is seen as “high RTP,” and slot games can never have as high RTP as table games have.
• Compare payout speeds: All of my casino reviews display the withdrawal time of the casino. I will also try to include how much time different payment methods take so you can simply check those out. However, you can also contact the casino you want to play in and ask the customer support representative.
• Wagering Requirements: Whenever I mention a casino bonus in my reviews, I include the wagering requirement. Note that a signup offer may have different requirements if it has multiple deals, like free spins and deposit matches. The easiest way to check this is to go to the casino’s promotions page and see the fine print. You may need to search the page for words like “wagering” and “rollover.”

? Maximizing Your Winnings

Now that you know what the highest payout online casinos are and how to find them, it’s time to discuss strategy. You aim to lose as little as possible and win as big as possible when playing online. Don’t go in expecting to become a millionaire or that you won’t lose any money. Always be prepared to lose what you deposit.

Play low-volatility games

Low-volatility games trigger a win more frequently but won’t give big rewards. These games are the way to go if you’re playing with around $10 and want to find the highest payout casino games. You can also choose online slots with a low betting amount, like $0.01, to maximize your playtime.

Play high RTP table games

Online casino games with high RTP have a higher chance of return. So, when choosing which game to play, check the RTP and go for the ones over 96%. However, keep in mind that if the RTP is not 100%, you will lose. This is baked into the game, and there’s no escaping it.

Bet minimum amounts

Start with low bets and make your way up when you feel more comfortable. If you’re playing slots, bet the minimum possible amount per spin. And if you’re playing Poker or Blackjack, don’t start placing higher bets if you’re not confident in your luck and skills (or lying skills if playing Poker). Online casino game odds are super volatile and cannot be predicted.

Take advantage of bonuses

All the best payout online casinos have casino bonuses for new players. If there’s a casino where you haven’t played before, create an account, and claim the welcome bonus. With a deposit match bonus, you can usually double your starting money and play with more. Try to be smart about bonuses and always read the fine print before committing to anything.

Don’t try to become rich

The easiest way to lose at best online casinos is to believe that you will become rich. All gambling is based on chance, and nothing ever guarantees a win. So, be prepared to lose a fair amount and win only a little. Some players do get lucky and become extremely rich, but it’s rarely mentioned how much money they’ve lost trying to get to that point.

? Common Misconceptions to Avoid

Finally, let’s take a look at some of the misinformation spread online. While some online casino myths are real (like if the dealer greets everyone by their name, you’re probably among pro players), there are so many that are plain wrong. Below are some of the misconceptions I’ve heard from other players.

Playing high RTP games means more wins

Don’t just blindly play games with high RTPs and expect to win. Often, players get confused and think that a 97% RTP means that you win 97% of the time or that you will win on the 97th spin or bet. Both of these beliefs are wrong. For example, in slot games, when the last spin is over, and you tap to spin again, your chances of winning are the same as they were before. Just because you’ve lost 90 times doesn’t mean you’ll get a win.

Progressive jackpots are money-makers

While progressive jackpot games have made multiple people rich (some Canadians as well), they are still limited by the RTP of the game they’re part of. If you’re playing a slot game with a shared jackpot, the build-in payout percentage will be affected. Usually, these types of games combine a normal slot game with bonus games, giving you a chance to enter the game to win the jackpot. So, while you can manage to win a normal amount, getting to that last spin for a chance to win thousands it’s near impossible.

Skip table games, I won’t win anyway

Some may foolishly think that you can win a lot on online slot games, but these people are wrong. If you’re after big wins and want to increase the probability of winning, join a live casino table. Skip all the game shows and other games with a lot of fluff and concentrate on the classic cards and dice games. It’s not a coincidence that you’ve heard of professional Poker players and not professional slot players. Pro Poker players can go far and start winning a lot of money. However, to get to this position, you need a lot of discipline, patience, and, most importantly, luck.

I can game the system

No, you cannot. Casino games are built to make money for the casino. If the casino is losing money, the game is not working as intended. If you discover a way to fool a slot game, be extremely wary, as this can be considered a criminal offence. Unfortunately, you’re meant to lose money playing these games. Look at Blackjack and how counting cards was prohibited at one point. Of course, these days, the best online casinos will use multiple decks, which makes counting very difficult, but this was a great offence in the past.

The casino is cheating

Just because you’re not winning doesn’t mean the casino is cheating. Since the RTP of all games is readily available, you know beforehand what kind of odds you have. Of course, if a casino acts shady and doesn’t want to pay your winning, then you should report it to the company. But you shouldn’t accuse the highest payout casinos of being unfair since you should be aware of this fact before creating an account.

Last updated: 2024/08/01