Recently updated on August 22nd, 2023 at 01:55 pm
Guide to the Fastest Paying Online Casinos & Instant WithdrawalsWhen it comes to choosing an online casino to play at, the speed of payout withdrawals is one of the most important considerations for many Canadian players
Once you have won a decent amount of money, the quicker you can get it out of the casino and into your bank account, the better.
But which are the fastest payout online casinos? Why are fast payouts so important to players, and what payment methods are the most efficient? Well, you have found your way to the best place to get answers to those questions and more. We have compiled a list of the best fast-paying online casinos and advice and recommendations for Canadian players
At our recommended fast paying online casinos, players can expect:
- Quick payouts
- A variety of different payment options
- Strong licensing from regulatory authorities
- Responsive customer support
- A great selection of casino games
All of these online casinos are also mobile-friendly, which means that they can be enjoyed on smartphones and tablets as well as desktop and laptop computers.
Top Fastest Paying Online Casinos 2023
|Online Casinos:||Payout Time||Licensed By||Visit:|
|Jackpot City||Mostly Instant withdrawal or within 48 hours Depending on Payment provider||Canada Kahnawake Gaming Commission, Alcohol and Gaming Commission of Ontario, and iGaming Ontario, Malta Gaming Authority.|
|Lucky Nugget||Instant withdrawal to within 48 hours Depending on Payment provider||Canada Kahnawake Gaming Commission, Malta Gaming Authority.|
|Casumo||Instant withdrawal to 6 Days Depending on Payment provider||Alcohol and Gaming Commission of Ontario, and iGaming Ontario, UK Gambling Commission, Malta Gaming Authority., Swedish Gambling Authority|
|LeoVegas Casino||Instant withdrawal to 6 Days Depending on Payment provider||Canada Kahnawake Gaming Commission, Alcohol and Gaming Commission of Ontario, and iGaming Ontario, Malta Gaming Authority.|
|Vegas Paradise||Instant to 7 Days Depending on Payment provider||UK Gambling Commission, Malta Gaming Authority.|
|Golden Tiger||Instant withdrawal to 5 Days Depending on Payment provider||Alcohol and Gaming Commission of Ontario, and iGaming Ontario, UK Gambling Commission, Malta Gaming Authority.,|
How We Review the Fastest Paying Casinos
It would be easy just to list the online casinos known to pay out quickly. However, this is not the only consideration we make when recommending casinos to our Canadian readers.
For this guide, payout speeds are, of course, the primary aspect that we look at, but those speeds mean nothing if the casino falls short in so many other areas.
We have a team of testers(Real Players) that have tested and continue to test online casinos. They look at every aspect of an online casino before forming an overall opinion on whether it is good enough to make our list of recommended online casinos.
When deciding which fast payout casino is good enough for our list of recommendations, we consider each of the following:
The payout speeds at the casino
Our top priority is how quickly the online casino processes withdrawals.
How We Test Cash Out Speed at Online Casinos
Our Objective: To provide a transparent and trustworthy method of evaluating the cashout speed of online casinos, ensuring our users have the best possible experience when it’s time to claim their winnings.
- Real Money Deposit: Our team initiates a real money deposit at each online casino under scrutiny. So this ensures we experience the process as any other player would.
- Gameplay: After depositing, we don’t just sit idle; we play various games to replicate the genuine user experience.
- Withdrawal Initiation: After a certain period of gameplay, we initiate a withdrawal to test the efficiency and speed of each available withdrawal option.
- Frequency of Testing: To ensure reliability and account for inconsistencies, we perform this cashout test three times over 14 days. So this helps us identify if there are any variations in the withdrawal speed at different times.
- Multiple Accounts: We believe in thoroughness. Hence, we use two distinct user accounts for our tests. This strategy prevents the casino from recognizing a single account and prioritizing its transactions, thus providing a more genuine average user experience.
- Documentation: All transactions, including deposit and withdrawal times, are meticulously documented. So this allows us to compare results and provide the most accurate information to our users.
- Third-party Verification: Occasionally, we engage third-party agencies to verify our results, ensuring objectivity and preventing biases.
- User Feedback: We consider feedback from our community members. If many users report consistent issues with a particular casino’s withdrawal speed, we take note and investigate further.
By adopting this rigorous and transparent methodology, we aim to provide the most accurate and trustworthy information about online casino cashout speed.
If you have any issues with payout speed and any of the casinos we list, please contact us, and we will look into it.
The online casino’s licensing
An online casino with licensing from the likes of the Kahnawake Gambling Commission, Gaming Commission of Ontario, UK Gambling Commission, or the Malta Gaming Authority has to adhere to strict regulations. These regulations are in place to protect the gaming experience of players.
The quality of customer support available
We also test the customer support of the online casinos. Ideally, an online casino will have 24/7 support, which can be reached in various ways.
The number of payment options to choose from
While having the fastest payouts is great, not giving players many payment options to choose from is not ideal. This is why we like casinos that offer a good mix of payment methods such as e-wallets, credit cards, bank transfers, and even cryptocurrencies.
The reputation of the online casino
We will only recommend online casinos that have a good reputation with others that have played there. Generally speaking, if an online casino has a good reputation, you stand a good chance of enjoying a fair experience.
The game selection at the online casino
Most online casinos will have over a few hundred games to play, so this is not always our top priority. That said, the more choice a player has, the least likely they will get bored and go somewhere else.
What Are Fast Payouts?
It is essential to understand that an online casino is only one of many responsible for getting money from their bank accounts to yours.
The only aspect an online casino control is processing and releasing the funds. The payment methods then take over, with the speeds varying depending on those payment methods.
Ideally, you want an online casino that processes payouts nearly instantly or within two days. However, you must then add the payment methods’ time to transact your money.
For example, bank transfers and credit/debit cards can take a few days. In comparison, e-wallet withdrawals will usually be with you within a day and some instant, once the online casino has processed the withdrawal request.
Why Fast Casino Payouts Matter
The obvious answer to this question is that faster payouts matter because players want to get their hands on their winnings quicker. There is no doubt that everyone would rather have their winnings within a day or two instead of a week or two.
There is another reason why speedy payouts matter, however. That reason is that the speed at which players receive payouts can tell us a lot about the financial health of an online casino. For example, if an online casino is processing payments quickly, it would obviously mean that they are doing well, have their house in order, and essentially have plenty of funds and cash reserves.
On the flip side, an online casino that has slower payout times might:
- Be struggling financially due to a lack of players, poor financial management, or other issues.
- Be using other players’ deposits when they come in to pay withdrawal requests.
- Not keep player funds segregated away from operating funds.
If you are at an online casino that used to have fast payouts but is now taking longer to process them, this could be a bad sign. It could spell trouble for the casino, and in cases like that, we suggest you get all of your money out and find another fast-paying online casino to enjoy.
We continually test the online casinos that we recommend to ensure they are still consistently delivering the fasted payouts among other online casinos. If we find that one starts to slip and is now a little slower with payouts, we will consider moving them off the list and adding another.
Why Progressive Jackpot Wins will Not be Fast Payouts
While you should expect fast payouts for small to medium-sized withdrawal requests, you should not expect to get quick payouts when you win a progressive jackpot. These can be in the millions, and therefore there are reasons why it might take some time before you get all of your money.
The win needs to be checked and verified
Like land-based casinos, big wins are checked, double-checked, and triple-checked to ensure that the win is legit. After all, casinos are in the business of making money, so they will want to make sure nothing untoward has happened before handing out the money. They want to establish that the win was fair and that there was no cheating involved or a possible malfunction with the game and or software.
The win is so big that it needs to be paid in instalments
Another reason progressive jackpots can take time to be paid out is that many online casinos will only pay out in instalments. This is a big hit to their bottom line if it is a local jackpot, so not many will be able to write off such big wins in a single payment.
Avoid casinos that will only pay out something silly like 10k per month. You would be waiting for a lifetime if you won millions. Instead, go for those online casinos that use a payment plan to have all of your money delivered to you within ten months in instalments. Some online casinos may even offer you an upfront payment, but only a portion of that win. This will usually be around 60% of the total you won – so probably not worth it.
If you prefer to play these types of slots, make sure that you read the terms and conditions at an online casino regarding how they payout large progressive jackpot wins.
The Best Payment Methods for Quick Payouts
If fast payments are what you are looking for, your best bet is to use well-known payment methods that are known for being precisely that. There is no point in signing up for a fast payout casino and then choosing bank transfers or a Check for your withdrawals because they will always be slow.
The fastest methods are Interac, cryptocurrencies followed up by credit/debit cards.
Interac is a favourite deposit method for a lot of Canadian players. You can instantly deposit and withdraw money directly from your bank account through the tap of your mobile phone. However, Interac is only available for Canadians.
Bitcoin and payments from other cryptocurrencies are starting to make their way to many online casinos. If you can find one in Canada that lets you use cryptocurrencies, you will get one of the fastest payouts possible.
See the best Bitcoin Casinos here.
Visa and Mastercard
Most of us use our MasterCard or Visa cards when shopping online, and it’s easy and fast. The same goes when using it at casinos. See the best Visa casinos here and MasterCard Here. Using these cards for deposits is instant. However, withdrawal can take up to a couple of days.
PayPal is the world’s most famous e-wallet, but you will not find it at all online casinos. Ideally, you should be receiving your money within 24 hours, two days max, using this payment method.
Those are the fastest payment methods you can use when at an online casino. Following those are credit debit cards, where you should expect to get your money in about three days and bank transfers which can take up to 5 business days. You can read more about the different online casino payment options here.
Tips on Increasing the Speed of Your Payouts
Even if you pick a fast payment method, you will still be at the mercy of the online casino for the processing of your withdrawal. For that reason, we suggest that you follow these tips to ensure that this processing can be done quicker by the online casino that you are playing.
Verify your account straight away
At any legit online casino, you will have to verify your identity at some point. This usually happens when it comes to making a withdrawal request. Some casinos will allow you to win small amounts without the need for verifying your account, while others may want verification done before any withdrawal.
In our opinion, it is best just to get your identity verified as soon as you sign up for an online casino. Get it done and dusted, and you will get a far quicker withdrawal process when you make that first withdrawal. This process can take days and even weeks, so better to get it done as early as possible.
Online casinos want to verify that a player is old enough to gamble, are gambling from a country that is not restricted, make sure you do not already have an account and make sure that you really are the person you say you are.
Complete any wagering requirements
If you have been using an active bonus or promotion at an online casino, these may hamper you from getting a payout quickly. Often, the terms and conditions say that bonus funds must be wagered anywhere between 5x and 80x before they can be withdrawn.
All casinos will have different terms attached to their bonuses, so it is essential to read and understand them before participating. Many players ignore bonuses altogether due to playthrough requirements and other terms, but many cannot ignore the potential for free money.
Don’t fall foul of terms and conditions
It is also important to read the full terms and conditions at an online casino and not just for the bonuses and promotions. This is because there will be terms in there that can allow the casino to forfeit any winnings and payouts if you break them.
Cheating at games, playing from a country that is not allowed, or harbouring threatening behaviour are just some of the things you should avoid if you want to get your funds paid out quickly.
Join the VIP program (if the casino has one)
While VIP programs are often reserved for high rollers or players that play regularly, spend a lot, or both, if possible, you should try and sign up for one. VIP members usually get a bunch of perks with faster payouts, often being among them. In addition, a withdrawal request from a VIP player will jump to the front of the queue ahead of standard players.
Choose a fast-paying online casino
Of course, the best tip is to join the fastest paying online casinos in the first place. We have offered our recommendations above, but you may find others that fit the criteria. Online casinos that payout fast and give you access to quick payment methods are the best place to play if you value quick payouts.
Please note that you need to be 18 years or older to participate, though in certain Canadian provinces, the age requirement is 19.
Resources for problem gambling assistance:
- Visit Camh.ca for support with gambling issues.
- Check out the official Ontario government’s resource at https://www.connexontario.ca/en-ca/ for complimentary, discreet aid for gambling addictions.
Furthermore, explore OnlineCasinos.net to learn extensively about responsible online casino gaming and discover additional links for gambling-related support.