5 Things to Know About Online Casino Payouts
When it comes to online gambling, payouts are for two reasons. Firstly, they determine how much money the casino pays out to their players on average, also called RTP, and secondly, it impacts how quickly winnings hit your wallet. Ultimately, you don’t want to wait days or weeks to receive your money.
Something else to look out for is to whether the casino applies any payout fees, which vary depending on the withdrawal method, and also understand the wagering requirements that might apply when you opt-in for the casino’s welcome bonus.
As many users have asked us about these things, we’ve put together this page to guide you through the payout mechanisms of modern online casinos.
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RTP (Return to Player) is a formula to calculate payout percentage. It indicates how much on average the casino pays out for each £1 paid in. A higher return means you’re more likely to win in the long run. Generally, an RTP of 100% means your chances of winning are equal to that of the casino and a percentage above 100 means that the casino would lose money to its players.
Online casinos face much more competition than real-life casinos, so their RTP percentages tend to be higher. Real-life casinos have an RTP percentage of around 80% while most online casinos have an RTP rate of about 90% and higher. You will see that most Blackjack games have a Return to Player rate of 99% and more.
High RTP Casinos
It’s a good idea to check the RTP percentage of various casinos and see how they compare against other casinos. By understanding and comparing the RTP ratios, you’ll be able to register at an online casino that offers more frequent payouts. You can compare the RTP by checking the percentages on the casino’s website, for example:
32Red is an online casino that offers a high RTP percentage across most of its games compared to some other casinos for roulette (94.7% – 98.7%), video poker (96.8% – 99.9%), slots (94.5% – 97.0%) and blackjack (99.1% – 99.9%).
Meanwhile, 888casino has lower RTP ratios overall for roulette (94.7% – 97.3%), video poker (96.4% – 99.3%), slots (91.9% – 97.2%) and blackjack (99.4% – 99.6%).
Comparing both casinos on RTP level, you’ll see that 32Red pays out more to their players compared to 888 Casino. However, it’s important to remember that an RTP of 99% does not mean you will get almost all of your deposited money back. It’s merely an average payout and be used a guide mark.
Blackjack tends to have the highest RPT compared to other casino games. It also has the lowest House Edge of around 1% or lower at most casinos. The RTP percentage depends on the number of decks used in the game as well as the variation of the game being played.
Each blackjack variation has a different House Edge. For example, Blackjack Switch has a House Edge of just 0.17% compared to Atlantic City Blackjack (0.35%), Multi-hand Blackjack (0.63%), Double Exposure Blackjack (0.69%) and Super Fun 21 (1.30%).
Microgaming’s Atlantic City Blackjack game has an RTP of 99.65% while Quickfire’s Multi-Hand Blackjack has an RTP percentage of 99.42%, both incredibly high payout rates.
You’ll find that there’s quite a difference between the RTP for European roulette and the RTP for American roulette. The European version of the game has a payout percentage of around 97.30% because it contains only one zero space on the wheel. Meanwhile, the American variation of roulette has a payout percentage of 94.74% due to the double zero space. Players who land in the double zero space automatically lose the game which increases the House Edge by 5% compared to the European variation.
If you’re new to Roulette, make sure to check out our Roulette Beginner’s Guide where we go more into detail about the difference between European and American Roulette.
Slot RTP greatly varies by game and can be as low as 88% and as high as 99%. For example, NetEnt’s Blood Sucker’s online slot has a return to player rate of 98%, SG Digital’s Monopoly Big Event hits the 99% and Microgaming’s Win Sum Dim Sum also goes up to 98%.
Generally speaking, it feels like online slots pay out considerably more than other casino games, but this is usually due to the game speed. However, speaking in RTP jargon, they are still a game worth to play.
It’s important to remember that most bonuses, whether they are no deposit, welcome or extra spin bonuses, have some form of wagering requirements attached to them. It’s important you know what they are and how they affect payouts and winnings.
Wagering requirements are the number of times your bonus must be wagered before you’re able to withdraw your bonus money and winnings generated from it.
The casino’s terms and conditions will explicitly state how many times the bonus money must be wagered. If you attempt to withdraw before you have met the requirements, you will forfeit your bonus money.
How do They Work?
Wagering requirements are terms written by the casino. At most casinos, you will need you to wager bonus money or spins between 20 and 60 before you are allowed to withdraw money.
It’s also important to check whether the casino wants you to wager the bonus money alone or the bonus money combined with your initial deposit. This can make the wagering requirement quite high. Besides, most bonuses are only available for 20-30 days after they’re claimed, meaning you’ll have to meet the wagering requirements before the bonus expires if you want to withdraw it.
Unfortunately, not all games contribute to the wagering requirement in the same way. You’ll find that most slot games offer a 100% wagering deduction, meaning for every £1 you bet, £1 is removed from your wagering requirement. Casino table games, however, differ as they may only contribute 10 or 30% of the player’s wagering towards the requirement, meaning you’ll be required to wager more to meet the terms.
Something to Think About
Now, you might think this all sounds unfair, and casinos should not put such ridiculous T&Cs in place. However, there is a good reason for it. Imagine online casinos would hand out free cash without any strings attached. Sooner or later players with bad intentions would keep coming back with fake email accounts, collect the bonus money, and cash out.
In fact, there have been instances in which players opened an account, claimed the bonus and cashed it out after several bets. This leads to a big loss for the online gambling industry and the casino’s would be open for abuse. It’s essential that casinos protect themselves, which is why they created wagering requirements.
That being said, it might be well worth it to not opt-in for the bonus and instead wager your own money straightaway. You might miss out on an extra couple hundred pound or more, but if you win, you are allowed to withdraw all of it immediately.
Source of Funds
Casinos are legally required to ask players about the source of their funds to prevent fraud and money laundering. If casinos fail to do this, they risk losing their license which allows them to offer their gaming services to you.
Most casinos wait until their players score a larger win or when they’ve hit specific criteria. It can be frustrating when you’ve won big but are told to provide evidence about your funds before the money can be processed. However, it’s essential that casinos do this.
When you’re asked to provide evidence about your casino funds, the casino will ask you for either:
- Proof of earnings including payslips, director remuneration, dividends or pensions.
- Bank statements or savings account that shows consistent incoming values from a reliable source.
- A trust deed that shows a consistent entitlement to funds.
- An account statement showing funds won from another company.
- Dated proof of an award or payment made to the customer.
- Other clear evidence that shows “affordability” to the casino.
Sometimes one piece of evidence will not be enough, and the casino will ask for more. We suggest you remain calm and patient and provide the casino with the evidence they require while also removing any personal information you wouldn’t want them to know.
To find out more about ‘Source of Funds’ and the UK Gambling Commission’s laws regarding them, please refer to our page on this topic.
A user named FB_10153240065163471 revealed their experience regarding ‘Source of Funds’ with 888casino. The user recalled on the AskGambler forums how they had requested a €900 withdrawal and were congratulated by the casino for the large win. The firm asked the user to provide them with a passport and driver’s license as well as a copy of the credit card used with the website.
After the user provided the documents, the received an email informing them that their account had been shut down after “careful consideration of all factors involved”. The casino refused to explain why the account had been shut down, but the user’s withdrawal still hadn’t been processed.
After several emails, the casino asked the user to provide a copy of their ID, passport or driver’s license as well a copy of a recent utility bill and a copy of the card used to deposit money into the casino. The user then sent the casino copies the evidence required and received their winnings shortly after. It’s unknown if their account remained closed.
One user named Gimmreza from the AskGamblers forum opened up about their experience with 32Red. In their post, they explained how they had provided the firm with their Skrill transaction history which listed their source of funds used to make deposits to the online casino.
32Red asked the user to provide them with their wage slip, and the user did. However, Gimmreza recalled how, five days later, 32Red failed to reply to their email. When the user spoke to customer service agents on 32Red’s live chat, the agents claimed the user’s account was under review but refused to give them a time frame.
Several days later, Gimmreza received an email from 32Red, claiming that the user had failed to provide sufficient evidence, leading the casino to close the user’s account and refund their deposited money.
A user named Sagbab opened up about their experience providing evidence, this time to Fruity Casa casino. According to the user, they requested a 1,500€ withdrawal and was asked to provide proof, which the user did. A week later, however, Fruity Casa allegedly told the user that his account didn’t exist over live chat despite being logged in.
After providing the casino with more evidence, Sagbab was forced to wait around nine days before Fruity Casa responded to their email regarding the evidence but claimed that the user’s birthdate on their birth certificate didn’t match the one in their passport.
After several more emails, Sagbab’s account was finally verified, and they received their winnings.
Payouts and Payment Methods
The speed of payouts is also affected by payment methods. Some payment methods, such as e-Wallets, process payments much faster than bank transfers or withdrawals to debit cards.
Also, some casinos only process the withdrawal via the same method used to deposit. For example, if you deposited with a debit card, the withdrawal will be processed back to your card.
Please move on to our payments page where we go more into detail about payment methods, withdrawal times, and how financial transactions work at online casinos.