Gamers are lucky to grab best slot machine payouts in Canada. As the Mega Moolah slot mahcine was won by a Canadian player who took home a whopping CAD $7,561,773 million and another Canuck lady took home a CA$1,413,537.73 jackpot last year winning the same slot jackpot on the at online Microgaming casino Grand Mondial. But Mega Moolah offers only 88% RTP of the game. So what are the best slot machine payouts in Canada and how are they different from progressive jackpot slots and how to find them is the curiosity of all slot players.
If you as a Canadian player want to look out for the best slot machine payouts in Canada then you need to first understand what does it mean by the term “payout”. In a layman language payout refers to the amount of money a player receives in return for betting. It is most commonly expressed as a percentage or a ratio, and it is calculated by dividing the amount of winnings paid by the total amount of cash wagered like if a player starts out with $100 and finishes up with $95, the payout is 95:100 or 95%.
The payout percentages are not random
Payout percentages are mandated by law and may not fall below a specific minimum determined for each jurisdiction by a regulatory authority. Whatever payout ratios are mandated must be set at the factory as part of a slot machine’s programming. This is the only way of ensuring that the ratio of winnings paid to cash played falls within the legal range. In Nevada, for example, the statewide minimum payout for slots is 75%. There is no limit on the maximum.
Fortunately for players, most casinos insist that their slot machine be programmed with payouts ratios far above the minimum. Simple supply-demand economics drives the decision. The closer the payout is to 100%, the more money players will be willing to risk. The lower the percentage is, the more profit will be made by the casino per dollar bet, but the lower the volume of play will be.
The challenge is for the casinos to set their payouts at a level that maximizes profitability. Although the point of equilibrium can be quite elastic, in most areas it typically falls between 80% and 95%, with so-called “tight” slots at the low end and “loose” slots at the high end. A casino will usually have a mix of both and achieve an overall payout ratio of above 90%.
How to find best payout slot machine at online casino?
The online casinos offer payout percentage on their slot machines ranging between 94%- 97%. A very common and incorrect assumption is that if, say, you deposit $200 at a casino with a 97% payout percentage, you will on average receive back $194, that being 97% of 200. Unfortunately, the payout percentage is the payout of the casino games and not the payout on the deposits the casino receives.
Suppose you play a slot machine with a payout of 95%, You will lose at a rate of 5% of the money you wager and the casino will “pay out” 95%. That wagered money is in no way related to the deposited money in terms of casino payout. You can deposit $50 and wager $500, or you can deposit $1000 and wager $15. Your losses are based on your wagering and not on your deposits.
Wagering $3000 on this 95% slot machine, the casino will hold $150 on average and “pay out” the remainder of your $200 deposit – $50. The casino is ultimately going to pay you just 25%, yet the game still had a “payout” of fully 95%. So in order to lose your deposit entirely on a particular game, you would simply need to wager an average of twenty times your deposit, $4000, and that still playing a machine with a fully 95% payout percentage.
So the payout percentage figures relate exclusively to the money a player wagers and do not relate in any shape or form to the money a player deposits. When a casino posts a payout percentage of 97% they’re saying that of all the money their players have collectively wagered, the games have collectively paid out 97% and held a 3% profit. If the casino has made a monthly profit of $100,000 from players wagering totalling $50,000,000, the casino games have “paid out” 99.8%, which is still a great payout figure.
But if you successfully locate a game with a payout of 99.99%, you can wager a lot at relatively low cost. You could wager $100,000 at an average cost of only $10. With other casino bonuses you can find yourself with a very attractive proposition indeed.
The payout also depends on the game you choose to play and the software of the game. Also higher payouts is the machine’s credit denomination. Higher payouts are usually offered at the higher denominated slots. One study showed that nickel machines at a certain casino averaged payouts of 92.5%, while quarter machines provided a 94.1% ratio. The rate of return on that casino’s dollar slots was 95.9%, and the machines that featured a five-dollar minimum paid out at 98.4%.
Knowing this information can help a player decide not only what machine to play but also how much to wager. For example, if six spins are played per minute with a max bet of three credits, a player can expect to wager 1,080 credits per hour. When the payback percent on a machine is 95%, the player might expect to lose 0.05 x 1,080 = 54 credits. On a nickel machine, it would be $2.70. On a quarter machine, that’s $13.50. And when playing a dollar machine, it works out to $54. The size of the player’s bankroll will determine which denomination is worth the risk.
Best slot machine payouts in Canada
If you are looking for best slot machine payouts then as said above you need to understand what the Return To Player (RTP) percentage is of a slot machine. Then check to RTP of the slot to find out how well it rates on the RTP scale:
- If a slot machine has 93% or less then it has low RTP
- Between 93% and 95% is acceptable RTP
- In the range of 95% and 97% it’s great RTP
- Slot between 97% and 98% is an excellent RTP
- If higher than 98% it is superb RTP slot machine
The higher the RTP, the more favourable the odds are for you as a player and the bigger the chance that you will win on that particular slot.
Here are some of the popular highest paying online slots
1. Ocean Princess
Ocean Princess is a classic slot based on 3-reel and 5 paylines featuring creatures of the sea. An important symbol here is the Princess’ Crown, because when this appears it replaces all other symbols and creates very lucky combinations. However what acts as the Scatter is the Sea Turtle symbol. The beauty of this slot is that you can “build and create” winning combinations by pressing “hold” on the lines that have already given you interesting symbols that you can combine with the next spins. In this Playtech slot you can bet from as little as $0.01 to max. $125 per spin. When you consider that the RTP (Return To Player) of Ocean Princess slot is an amazing 99.10%, it’s no wonder that just few online casinos offer this game, as it greatly favours players instead of the casino.
2. Monopoly Big Event
Based on the hugely popular board game, the Big Event slot has one of the highest RTPs of any online slot that is up to 99%! The Monopoly Big Event slot machine is a creation from Barcrest and is based on the popular board game of Monopoly from Hasbro. The aim of the game with the Monopoly Big Event slot is to own as many properties on the board as you possibly can to accumulate the most money. The Monopoly Big Event slot also offers the additional Big Bet feature. This additional feature can increase your wins by up to as much as 99%.
The Monopoly Big Event slot allows you to benefit from increasing multipliers, locked wilds, standard wilds, dancing wilds, guaranteed wins, bonus rounds and a non-progressive jackpot of up to a whopping 250,000 coins online. Step up and set the reels in motion from as little as 0.20 or as much as $500.00 as you charm the reels into parting with its hidden fortune.
3. Mega Joker
Mega Joker is an old-fashioned, classic fruit machine type slot from Netent. It offers all the classic gameplay features with 5 win lines, mystery prizes and fruit and bell symbols. It also provides one of the highest payout ratios of all online slots: a whopping 99%. This RTP of 99% is only active while playing the so-called super mode: an extra game with increased bets that offers much higher payouts than the base game.
4. 1429 Uncharted Sea
This is a great looking slot from Thunderkick with 98.6% RTP. 1429 Uncharted Seas has a sea exploration theme and looks gorgeous. Trigger the feature, and you will get free spins with expanding wilds and big pays.
5. Blood Suckers
Blood Suckers is Netent slots and has a superb RTP of 98%. This 25 win line slot with a romantic vampire theme, is one of Netent’s most popular slots. The gameplay is fast and fun, and there are two different bonus features: a free spins bonus and a pick em bonus where you open coffins and kill vampires for big credit wins.
6. Kings of Chicago
Kings of Chicago is a unique slot from Netent with 97.8% RTP that combines video poker with a regular slot machine. Instead of traditional slot symbols, there are card symbols on the reels. Landing winning poker combinations will give players high payouts. Jokers pay out double, and there is an exciting free spins feature are also interesting elements of this somewhat lesser known 5 win line game.
Magicious is a fun and straightforward slot with 10 win lines, expanding wilds that stay sticky for one turn and frantic gameplay. t is a faster and prettier version of Starburst with a much higher return to player: a very impressive 97.6%. An excellent slot for getting some fast, big wins and then getting out.
8. Devil’s Delight
Devil’s Delight is a blazing hot slot from Netent with 97.6% RTP that features some real shady characters: monsters, the devil and the grim reaper among others. The primary bonus that can pay out enormous amounts is a play till you win type bonus. The longer you play, the closer you will get to that lucrative Sin Spins bonus. Three or more Zodiac symbols will trigger the free spins bonus, and the expanding wilds on reels 2, 3 and 4 can pay out huge wins in the base game. Play Devil’s Delight now, if you dare.
9. Esqueleto Explosivo
The utterly absurd and wacky Mexican themed Esqueleto Explosivo by Thunderkick is one of the best online slots around with 97.6% RTP. Everything revolves around exploding skeleton heads, increasing multipliers and mucho, mucho fun. The Golden Elvis symbols, complete with cool sunglasses, are wild and will help you to get those large multipliers of up to 32x!
An Ice Hockey themed slot with stacked avalanche symbols, a free spins bonus and plenty of wilds has an 97.0% RTP. The bonus game can be extremely profitable with this Microgaming slot.
11. Reel Rush
With 8 free spins with 3125 ways to win the main goal of this casino game is to trigger a chain reaction of wins that leads you to the Reel Rush slot bonus game. With 3125 ways to win, you can expect this medium variance slot to actually payout quite big. You can have wins over 135x your total bet, and your biggest wins will be thanks to help of the golden star wild symbol. Reel Rush slot having a 97% return is the fast paced action is great for beginners and experienced players looking for some quick big thrills.
12. Jack Hammer
One of the main game features throughout this Jack Hammer game is the use of sticky wins and you’ll end up spending less as you hunt down the Evil Dr. Wuten and that 250,000 coins maximum win. On average during the base game you can expect wins between 3x and 10x your bet with a few 15x – 30x your bet wins coming when you manage to fill the whole screen full of symbols. But that’s not all this slot machine has to offer with it’s multiplying free spins rounds adding to the thrills in this 97% RTP slot machine.
13. Lucky Leprechaun
The marvelous Lucky Leprechaun online casino video slot comes with 20 pay lines, 5 reels and 3 rows has RTP of 96.83% The Irish legends tell that the one who finds the end of the rainbow will sight the pot full of gold. The owner of this gold is a little elf called Leprechaun. Once you find his gold you can ask Leprechaun to fulfill your wishes and he must do it. You can try to find his gold playing this amazing video slot developed by Microgaming.
14. Immortal Romance
Immortal Romance slot with 96% RTP offers the ability to unlock the bonus features will keep you spinning for longer, and once you’ve unlocked them all you have free choice of choosing your own fate every 50 – 100 spins when the bonus shows up. With a betting range of 0.30 up to 6 per spin, it gives those looking for more than a few spins the chance to play on a decent budget with those 243 ways to win, the action keeps on coming and surprising you
15. Dead or Alive
Dead or Alive with 96.80% RTP offers 12 free spins with 2 X Multiplier and except any wild you get here will remain sticky for the whole duration of the slots free spins bonus game. Get the right ones on the right reels, and you’ve got a whole series of multiple wins to keep you entertained. Of course, generally you end up with much more than about 30x your bet, but from time to time you get about 50x your bet and you get 5 wilds in a row. This is like the hidden bonus game within the Dead or Alive video slot, and where you’ll get the really big wins in this NetEnt Slot.
Besides these popular ones there are various other such slots to play.
How can you check the RTP?
Most slots have the RTP listed in the rules or paytables of their game. Sometimes you have to look for it, but most software providers are happy to provide the RTP. But remember that there are no slots that will guarantee a win. On the other hand the closer the RTP comes to 100%, the better odds you have of actually beating the casino.
Progressives slots have the lowest RTP percentages by far, often 8-10% less than the ones given above and that percentage includes all the big progressive jackpot amounts, so the RTP on the base game is even significantly lower.
The reason big progressive jackpot slot games have a lower RTP is that a certain percentage of your wager is a contribution to the jackpot fund, plus of course, in order to build a bigger jackpot, the slot cannot pay out as much as other slot games otherwise the size of the jackpots would have to be considerably smaller.
This is why you can find some progressive jackpot slot games have a lower RTP than non-progressives. However, it is the size of the jackpot on offer that matters more to players, which is why they will accept a lower RTP, for the chance to win a much bigger prize.
Remember that Thunderkick, Netent and Microgaming gaming software often have better Return To Player percentages than other slots developers. Progressive slots can make you a millionaire overnight but also have some of the worst odds for casino players. So you see the best slot payouts reach over 95% and are good to play on your PC or cell phone in real time with CAD.