Important facts about payouts
When considering payouts, there are actually a number of different aspects that are linked to ensuring a casino has the best payout process. On top of that, it’s often a confusing term, with some players assigning different meanings to the term ‘payout’ in the first place. Here are some of the possible meanings of payout:
- Percentage payout or return to player rate of a game or casino
- Banking methods and time taken to receive winnings
- Promotions or requirements attached to bonuses
- Jackpots and how much they can actually pay
We’re predominantly going to look at payout in terms of banking and the speed and options you have here. However, we will take a look at some of the other payout options such as return to player rate (RTP) as well. This is because all of these factors can affect whether a casino has a good payout rate.
What is a good payout rate?
This is in reference to RTP rather than the speed of an actual payout. Good RTP can refer to both an individual game and to the casino itself. In this case, we’re going to look at what this means from the casino’s point of view.
RTP here refers to the payout rate of the casino as a whole. It indicates how often, and how much, the casino actually pays out to players over time. A lower payout rate indicates that the casino isn’t making payouts very often, which can be concerning. In contrast, a high payout rate from a casino indicates that when players win, they actually get their winnings regularly and can claim big wins. This is the preferable option when it comes to choosing a casino and should be checked before you sign up.
Methods for getting fast payouts
Now, it’s every player’s dream to claim a speedy payout. After all, you’ve spent the time actually playing, so you’re going to want to get to spend your winnings. With that in mind, you need to take a look at the banking options available. Not all banking methods can offer fast payouts, so you want to make sure that the casino you pick does have fast payout options.
Some of the speediest payout options are eWallets. This will include options such as Skrill, Interac or Neteller. Typically, you can claim a payout in under an hour. Other speedy options include cryptocurrencies, though this option is dependent on the casino. Crypto payouts can take as little as 15 minutes, though this will also depend on the crypto you are using.
Bear in mind, that all casinos will have a pending period in place. This is generally anywhere from an hour to a day or two. Essentially, this is when the casino is checking your withdrawal or payout request. In particular, if you have used a bonus, the casino needs to ensure you’ve met all the wagering requirements before processing the payout. This is actually the slowest part of the withdrawal process. So, that being the case, always take a look to see how long a casino takes when processing payments.
Top-rated casinos with fast payouts
There are a number of top Canadian casinos offering fast payouts. We’ve listed some top options right here:
- Wildz
- LeoVegas
- PlayOjo
- Casumo
- Pokerstars
Quick fact about payouts
So, why do casinos offer speedy payouts? Well, here are a few quick facts:
- Strong marketing strategy to attract players
- Competition with other sites
- Keep players happy
What factors are important to get quick payouts
If you want to get fast payouts, then there are a number of things you can do to improve your chances. To help you out, here are some of the things you can try to do.
- Look at the withdrawal times — this is important as each casino is different. And, on top of that, so are the banking options. A card payment can take two to three days to process, some can take five. In contrast, eWallets can be processed in a day or even less.
- Same deposit and withdrawal methods — you may not realize it, but simply using one banking option will greatly improve your payout speed. Using a payment method that you’ve used to deposit has been known to significantly improve the withdrawal time.
- Verify your account when you sign up — yes, this can be an annoying process, but doing it right away when you sign up will save you time later on. When you make a first withdrawal, good, licensed casinos will always want to verify you. This means that you need to prove who you are with some form of ID. It’s a requirement and helps casinos prevent money laundering. If you don’t do this before you request a payout, you’ll find your payouts are processed much more slowly the first time around.
- Move up the VIP ladder — most casinos have a VIP club. One of the common perks, when you reach the higher levels, is that you can get faster payouts. Better still, there will be a dedicated account manager for you, and you’ll be able to request larger payouts too.
Benefits of a fast payout casino
There are many benefits to a fast payout casino and these can include:
- Getting your funds quickly
- Low minimum withdrawal limits
- No fees
Drawbacks of a fast payout casino
There are also some downsides to casinos with fast payouts:
- Caps on transactions per day
- Low maximum withdrawal limits
- Fast banking methods aren’t eligible for bonuses (commonly Skrill and Neteller)
Conclusion
Finding somewhere that offers speedy, secure withdrawals is a must. However, not all casinos offer the same payout options. Make sure that you check the banking options and the minimum and maximum withdrawal limits before you decide where to play. Once you signup, verify your account early on.