8 best payout casinos for slots in 2024

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Comparison of the best payout online casinos

Choosing the best payout casino in Canada can be tricky, especially with so many factors to compare. To make it easier, we’ve narrowed down the top 8 casinos of the year where you can maximise your benefits.

Casino	Payout Ratio	Slots Count	Bonus	Payout Speed	Our Rating
Royal Vegas	98.8%	450+	C$1200	1 – 7 days	95%
Casumo	98.7%	3300+	C$2000	0 – 5 days	93%
Jackpot City	98.7%	450+	C$1600	1 – 3 days	93%
Spin Casino	98.4%	450+	C$1000	1 – 3 days	93%
888 Casino	98.2%	2200+	C$1500	1 – 8 days	93%
Ruby Fortune	98.2%	450+	C$750	1 – 7 days	93%
Betway	98.3%	700+	C$750	0 – 4 days	92%
LeoVegas	98.2%	2800+	C$1000	0 – 5 days	91%

Benefits of playing at best payout online casinos

When we evaluate online casinos, we focus on specific indicators that are important to Canadian online casino players. Our overall rating is derived from our assessment of these indicators. We share with you these indicators and explain why they contribute to the best payout online casinos, so that you get a better understanding and appreciation of our Casino Review process. 

• Bonus & Promotions: An attractive welcome bonus is not only a good incentive, but indicates the online casinos intent to cultivate high roller players who are on the lookout for big payouts. We give plus points to Canadian online casinos that host mega prize pool promotions because these are an indirect way of rewarding the players. A remunerative loyalty programme is another feature that we look for.
• Software & Games: The size of the portfolio is important but not to be overrated. The quality of the games and the reputation of the software providers adds to the credibility of the online casino. The payout percentages of the slot games and the presence of million plus payout progressive jackpots contribute to high payouts in online casinos.
• Deposits & Withdrawals: The number and variety of payment options is the first thing in our evaluation. We go through the fine print here. For example, Canadian online casinos that delay processing of withdrawal requests or impose very low maximum withdrawal limits negate the advantages of other high payout features.
• Customer Support: 24/7 support through live chat is a must. A comprehensive FAQ section hosted on the casino website is a huge plus point in our evaluation of this indicator.
• Safety and Fairness: Most of our recommended online casinos will score 100% here. Big payout online casinos are of no value if they are beset with safety and fairness issues. Independent third-party audit of the software and a strong responsible gambling section are on our radar.

The presence of the positives and the absence of the negatives in the casinos that we recommend makes them the best payout online casinos in Canada. We must add that overall impression and gut feeling are also factored in our evaluation. Our team comprising of industry experts puts in several weeks playing at an online casino before submitting their findings.

Understanding casino payout percentages  

At online casinos and websites related to online gambling you will frequently come across these two terms:

• Payout Percentage
• Return to Player (RTP)

It is a common misconception that these two terms have different meanings. They mean exactly the same. In this section we will use payout percentage to avoid any confusion. For every C$100 wagered on a game, the amount that you can expect back from the online casino based on the mathematics involved, is the payout percentage. If an online slot game offers a payout percentage of 96%, it means that in the long run for every C$100 bet you will get back C$96. The best payout online casinos, like the ones we recommend, have more of the higher payout percentage games in their portfolio.

Theoretical Payout Percentages

When a slots provider completes the development of a game, it would run millions of spins in its test laboratory. The results would include the total amount bet and the total amount returned. The theoretical payout percentage would be derived from this process. The best payout online casinos offer video slots with theoretical payout percentages usually between 95% and 97%. 

Actual Payout Percentages

Slot machines have random outcomes, so the result of each set of million spins will differ slightly. The industry independent experts like eCOGRA and GLI are engaged by Canadian online casinos to determine the actual payout percentages of their slot games from the data of customer spins. The online casinos recommended by us post these reports in the public domain, and you will find a high degree of convergence between the theoretical and actual payout percentages.

What Is House Edge?

House edge is another way of conveying the same information as payout percentage. Instead of stating what is returned to the player, the house edge states what is retained by the online casino. If the payout percentage is 96%, then the house edge will be 4%.

An immediate response to this by a newbie online casino player would be one of outrage. Why should the casino retain any portion of our bet? This is the same angst that we feel when we pay income taxes to the government. The online casino needs operating expenses to keep it functioning in an efficient manner. If the casino games had zero house edge, the casino would not have any funds for its operations.

The best payout online casinos ensure that the house edges in their games are reasonable and are as per industry norm. They will not allow the Canadian online casino players to be shortchanged.

Online Casino Slot Game Volatility

Volatility is another characteristic of online slots and it is not related to payout percentage. High volatility slots yield larger payouts, but these occur less frequently. Such games are preferred by risk taking players. Low volatility slots yield smaller wins, but more frequently. Conservative slots players go for these. Both high volatility and low volatility slots can have the same payout percentage. 

You will find a fair number of high volatility slots in the best payout online casinos. Most of the Canadian online casinos that we recommend indicate the volatility of their online slots so that players can make a considered choice.

 Best payout online slots

If you are looking for online casino slots with high payout percentages then you can pick from the table below. 

Slot Game	Provider	Payout %
Big Bad Wolf	Quickspin	97.34%
Dead or Alive	NetEnt	96.82%
Big Bass Bonanza	Pragmatic Play	96.71%
Tomb Raider	Microgaming	96.56%
Mustang Gold Megaways	Pragmatic Play	96.51%
Aloha! Cluster Pays	NetEnt	96.42%
Starburst	NetEnt	96.09%
Sticky Bandits Unchained	Quickspin	96.09%
Gonzo’s Quest	NetEnt	95.97%
Da Vinci Diamonds	IGT	94.94%

Payout percentage is an indicator for selecting slot games, but not the only one. These percentages are clustered around 96% and in the end the differences are minimal. Volatility is another factor that we have already discussed. We cannot stress enough, that real money slots play should primarily be an activity for entertainment. So, the most important question to ask is whether the slot game is giving you that entertainment. If the answer is no, then payout percentage and volatility do not matter.

Best progressive jackpot slots

Progressive jackpot slots have lower payout percentages than the regular video slots, yet they make an impact on the best payout online casinos. The reason for this is that they have the potential to deliver massive wins on single spins. You will come across quite a few progressive jackpot slots that deliver payouts in millions and many more that routinely pay more than100K. The best Canadian online casinos always have a separate Jackpots category so that its high roller players get quick access to these big payout games.

Here, we insert a word of caution about betting on progressive jackpot online slots. Just because there is an opportunity to win huge amounts, you do not allot your entire bankroll on these games. Look at it this way. Canada has a vibrant lottery establishment. People buy a few lottery tickets for the draw, no one goes and buys the whole store in the hope of winning the big prize. The same way, practise moderation in betting on progressive jackpot games. Do not cancel a candlelight dinner with your spouse to save money for bingeing on Mega Moolah.

Mega Moolah Progressive Jackpot at Best Payout Casinos

Some sceptics raise the issue that all these multimillion payouts are only propaganda. This is not true and we wish to illustrate our case using the Mega Moolah progressive network. You will find most of the Mega Moolah slot games at the Canadian online casinos recommended at our site. The first slot game on this network was launched in 2006 and since then there is a recorded history available at many Internet sites about the massive payouts it has delivered. We too regularly track this progressive jackpot because it has paid rich dividends to Canadian casino players. Here are some of the biggest wins.

Amount won on Mega Moolah	Month & Year
C$20,059,287	January 2019
C$16,496,347	April 2022
C$11,633,898	November 2016
C$8,312,798	June 2023
C$3,637,742	June 2024

How to take advantage of best payout online casinos

We have explained the characteristics of the best payout online casinos and have also recommended the best for you to join. We now take you through the steps of maximising your advantage at these Canadian online casinos. 

• Do not give up on bonuses: There is no guarantee of cashing out from bonus play, but there is a very good chance of doing so. Do not give up on this chance, because you have nothing to lose. This is especially true of the welcome bonus, which is probably the most attractive offer you will receive from an online casino.
• Beware of high wagering requirements: Wagering requirements are essential from the online casinos’ point of view, but should be reasonable. High wagering requirements make it almost impossible to cash out from the bonuses.
• Participate in promotions: Prizes from promotions add to the payout potential of an online casino. It is another way of receiving funds. Many promotions are community events and foster a feeling of camaraderie.
• Loyalty helps in getting better benefits: The best payout online casinos have attractive loyalty programs. As you play more at the casino, you will rise to higher loyalty levels with better bonuses, higher withdrawal limits, faster withdrawal processing, and other benefits. These not only help you to earn more but also facilitate the withdrawal of your winnings.
• Try your luck at high volatility slots: Our recommended Canadian online casinos indicate the volatility of slot games making it easier for you to locate them. Take a chance on these games for earning bigger payouts.
• Set a budget for progressive jackpots: Most of our recommended online casinos offer the best progressive jackpot slots in the business. Set aside a limited portion of your bankroll for playing these games. One big win could change your life.
• Avoid casinos with low maximum withdrawal limits: You have done the hard work and won a fair amount, but you find that you can only take it out over several weeks because of a cap on the withdrawals. If you are a high roller player, you should avoid online casinos that put you in this position.
• Gamble responsibly: In this adrenalin of high payouts, please do not forget that you are at Canadian online casinos for entertainment. Set and adhere to deposit and time limits. 

Play Responsibly

There’s a small risk that players might gamble beyond their budget. Online slots casinos offer features to help manage this, and we recommend taking advantage of them.

You can set daily, weekly, or monthly deposit limits, and the casino will prevent any deposits above those limits.

For more advice, check out the Responsible Gaming page on the casino’s website.

In the rare case, if you feel that you are spending too much time or money at online casinos, please do not hesitate to seek professional help. We recommend these reputable sources: Responsible Gambling Council (RGC), Centre for Addiction and Mental Health, Gambling Therapy, Gamblers Anonymous, GamTalk or call RGC directly at 1-800-522-4700.

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