Online Casino Payouts - Winning Cash & Cashing Out

Peter Schmidt

5 min read

Casino Payouts - A Few Basic Facts
Payout may refer to	Game's RTP rate Casino's banking Game's prize money
Fastest way to pay out	Cryptocurrencies & e-wallets
Best casino for payouts	Stake Casino
	Play at Stake

There is a lot of terminology around casino gambling. Each game has its own rules, setup, and corresponding vernacular. And the concept as a whole has its own lexicon. Often we use words interchangeably. So for example you can make a bet, place a wager, or set a stake, and they all essentially mean the same thing.

Online gambling also has its own vocabulary, and sometimes the terms used can be a bit confusing. While we're not quite at the stage of reviewing an entire glossary, we are going to focus on one that is always positive, but not always used in the same way. And that is the casino payout.

This is a long and involved concept with potentially several connotations, so we're going to do this online casino payouts review almost like an FAQ - with each section answering different areas of potential inquiry about the topic, and what it means for you, as a player.

This post covers:

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⏱The brands and bonuses above were last updated on 13. December, 2024. We test and check casinos regularly to provide up-to-date information. However, there may still be instances where there may be differences between a casino's newest offering and the listing on this site.

What Is a Casino Payout Anyhow?

Well that is the million-dollar question right there. That's because what a casino payout is, depends on how you're using the term. And even we can be "accused" of using it in various ways.

1. Technically, many would say, that a casino payout refers to the amount of money you can expect to win back from a casino over time. It is often expressed as a percentage, known as the payout percentage or return to player, i.e. the RTP rate. For example, if a casino has a payout rate of 95%, this means that for every $100 wagered at the casino, $95 of that would be paid back out to players as winnings in the long-term.
2. The term casino payout, however, can also refer to the method by which you receive your winnings. The specific payout methods depend on the casino, but include things like credit cards, e-wallets, and bank transfer systems.
3. Sometimes the casino payout is also used as a synonym for the prize amount won from a slots machine. But this, as we'll cover below, is not really precise, though we get the intent.

Is the Payout the Same as the RTP?

Payout and the RTP are definitely often used to substitute for one another. Expanding on that slightly, RTP is a specific term that represents the theoretical percentage of money wagered that a casino game is expected to return to players over an extended period of time.

What's the house edge then? Plain and simple, the house edge is the casino's advantage. It's like the remanent part of the RTP. So for example, a slot with a 95% RTP has a house edge of 5%.

Each game you play at an online casino has a set return to player. The payout rates for each category look something like this:

• Online slots potentially have a payout percentage that ranges from 90% to 99% from what we've found. However, realistically, most are more in the middle with the 96% range being most typical.
• The RTP for online roulette varies depending on the specific type of roulette and the exact variation you're playing. American roulette, for example, generally has an RTP of 94.74%, while French Roulette is even a bit higher at 98.65%.
• If you've ever searched "what is the average RTP of online blackjack", the response of 99.5% may have surprised you. It sounds high after all; and it is. That's because that's not really the average, rather the ideal that can be achieved if you're a highly skilled player who knows how to play your cards right.
• Crypto games pay out well; or at least theoretically. That's because top crypto operators like Stake Casino and BC.Game have created original versions of titles like Crash, Mines, Limbo, and Plinko, with a theoretical 99% RTP.

For more info on RTP see this article

Is the Casino Game Payout the Same as Its Prize?

Getting paid means getting money, so payout and prize one might think are the same thing. But no, as it turns out, payout and prize are not the same thing in the context of casino games.

The prize, mind you, refers to the specific amount of money won on a single bet. It can be the potential prize, as in this game has a max prize of 5,000X your bet. Or it can be a specific time, like when you won $500 playing Hyde and Seek slots.

With a top prize of 20,000X your bet, Hyde and Seek slots, available exclusively at Stake, offer some serious cash prize potential.MoreLess

Top payouts in terms of cold hard cash - like games with six-digit figure prizes or even in the millions - are a different topic entirely.

But while we're not going to explore that too much here, we'll just hint that if you want high paying gambles jackpot slots, games with a high max bet limit, or slots with a top prize like 10,000X your wager are going to be a good direction to explore.

With minimum bets starting in the $1,000 range, the payouts playing Blackjack Salon Privé can be huge.MoreLess

Is a Payout the Same as Winning?

If you look in the thesaurus, as we dive deeper into the semantics here, the options payment, payoff, money, cash, and even wages and salary come up.

So in a sense, if we move away from the RTP synonym usage of the word, you could say that a payout you receive from a slots machine is the prize money winnings. That is, if you win $100 playing Big Bass Bonanza slots, that amount would be paid into your casino balance.

Big Bass Bonanza is a popular slot with a 96.71% RTP, available at Instaspin and many other top online casinos.MoreLess

However, while that's a payout of cash, generally speaking, this isn't how the term is used. Unless maybe the casino boasts something like "we pay out casino winnings instantly".

What's the Connection Between a Pay Out and Cashing Out?

With this question - of payouts vs. cashouts - we're getting to a bit of a different topic, but another super important use of the term. That's because the word payout in online casino talk is often used in a cash out sense, and that in and of itself is the whole casino withdrawal thing.

That means sometimes you will see the word payout used in lieu of cashout; and cashout in lieu of withdrawal. See the connection?

You may also see it used in the manner of payout methods. That is, the way you can withdraw your money (hopefully winnings), from your casino account.

List of available payment methods for payments in CAD at BetandplayMoreLess

This is actually a really important factor to check when choosing an online casino. As many less reputable casinos will make depositing easy (they want your money after all), but being paid out much harder.

All of the casinos we recommend above, we'll just add, have easy and fair cashout policies. So that's another good reason to use our casino reviews in guiding your choice.

Anyhow back to the payment methods. If you're familiar with the world of online gambling, you likely know that most casinos offer more options for making a deposit. This isn't because they're evil; again, at least not the ones we've positively reviewed. Rather it's often simply a matter of bureaucracy, or local availability.

Which Payout Methods Should a Casino Offer?

When assessing the payout methods, as a pointer, you should be on the lookout for flexibility. This means examining three main criteria.

1. The casino offers multiple options covering the basic formats like popular e-wallets, credit cards, and bank transfers if needed.
2. The casino processes withdrawal requests quickly, so you can get paid out in a timely fashion.
3. There aren't too many restrictions around cashing out. For example, the max withdrawal limit should be high enough to know that you'll be able to easily cash out a big win. Alternatively, the casino should at least have a policy in place as to how you'll be paid out according to an installment plan (which is totally legit, when you think of how even the big national lotteries often pay).

Withdrawal limits for Bitcoin at Betandplay.MoreLess

How Do I Actually Get My Casino Winnings Paid Out?

Technically speaking, you'll need to submit a withdrawal request in order to get your money out of your casino account, and back into your pocket.

There is also the matter of how your casino winnings are paid out on a given round. In that case, if you win a hand of blackjack, the software will simply add that sum to your casino balance.

What's the Standard Cashout Process at an Online Casino?

The steps for cashing out are fairly standard these days, as many of the better online casinos truthfully use the same software for these kinds of things (just like they do with the games). Plus, with laws and licensing standards, they're kept on the straight and narrow with some pretty specific demands for how cashing out works.

But since we're not all online gambling pros here, in terms of steps, the cashout process generally goes like this:

1. Log in to your casino account (you obviously need one to have generated any winnings).
2. Go to open your casino wallet - This is often done by clicking the 'Deposit' button.
3. Click to open the 'Withdrawal' tab.
4. Select the payout method you'd like to use from the list provided.
5. Enter the amount you want to withdraw.
6. And submit.

It's important to note that the list of payout methods is not universal; rather it will be on a local level, based on your registered currency and IP address. So if you're gambling from Canada, for example, you would likely find the popular Interac option available, while something like Revolut would be more common in the European market.

Click on the 'Withdrawal' tab in your casino wallet, to see which payout options are available to you. MoreLess

Which Currencies Work in the Casino Cashout Process?

Whichever currency that you used to deposit is the currency that you'll use to cash out. As in what goes in, is what comes out. So if you made a $100 deposit, you'll be withdrawing your winnings in dollars.

This is a policy we've seen at every online casino that we've reviewed. That's because currency exchange rates fluctuate, and the casino is not a bank to deal with these matters. Also, it likely has to do with taxes and anti-money laundering policies, and things like this.

Most online casinos today, by the way, accommodate a wide range of currency options. Especially at the places we recommend - since we value flexibility - this generally means you'll have a number of crypto currency and fiat options to choose from.

Usually you'll be choosing your preferred currency when you register your casino account. So for example, euros if you're in Germany or France, or yen if you're in Japan.

While this used to be a fairly rigid matter, these days if you go to your casino wallet, you will be able to add more currencies. Meaning you could start off with Canadian dollars, then add Bitcoin, Tether, US dollars, and so forth to a single account. Then when you're ready for a payout, you'll simply need to choose which currency you're cashing out.

At Lucky Circus casino you can deposit and enjoy payouts in multiple fiats and crypto currencies. MoreLess

Do I Need to Verify My Account Before the Casino Will Payout?

Yes, you will generally need to verify your account before a casino will process a payout.

There used to be a couple of no KYC-process casinos, but due to licensing requirements they are exceptionally rare. Also some casinos have a more laxed policy when dealing with crypto rather than fiat. And some may only truly demand account verification if you're withdrawing over a certain sum, or state in their policy something like "we reserve the right to request account verification at some point".

But the reality is, like we said, you're most likely going to have to do this prior to your casino payout. On the positive side, it's really simple. Just make sure to provide accurate and up-to-date information during the verification process to speed it along.

What Should I Look for in an Online Casino to Know It's Going to Be Safe on the Payout Side?

To ensure a that an online casino is safe on the payout side, there are a number of key indicators to look for.

Licensing and regulation.

Types of payment methods and policies.

Customer support.

Qualified reviews.

Strict security measures.

The Expert Roundup on Casino Payouts

Now that you're practically an expert on the concept of casino payouts after reading this article - understanding what they mean in every context and permutation - the only thing left to do is put all that knowledge into practice!

By that of course, we mean play. Armed with a deep understanding of what an RTP means and how casinos payout in both odds as well as actual cash terms, you're well equipped to make a more informed decision in choosing individual games, as much as a better online casino.

Visit Cloudbet Casino

Online Casino Payouts: Compiled by Peter Schmidt

I'll admit that I'm a bit of an old hand when it comes to online casinos. I've seen so much of the business that it's practically unmatched. After working with offline casinos for more than two decades, I moved into the online casino industry looking for a new challenge. Distinguishing a good casino from a bad one is an art, and I am happy to apply my expertise to check and test casino sites to deliver expert casino analyses.