Making withdrawals from your casino account is generally as simple as making a deposit, and follows similar steps. Unless your payment option is not available for withdrawals, most casinos will require you to use the same payment method that you used to make deposits to cash out your winnings. This is a security measure to prevent money laundering and to minimise fraud. Withdrawal times at Canadian online casinos depend on two factors: the amount of time that it takes the casino to process your withdrawal, and the transaction speed of the payment method you have chosen. Fast withdrawal casinos can process withdrawals in under 24 hours, while others can take up to two days. The quickest payment methods for withdrawals tend to be web-wallets, while bank transfers and cheques are generally on the slower end of the spectrum.
Popular Payment Options
The top online casinos in Canada will offer multiple payment methods so that everyone has a choice. And flexibility is great, but some payment options are more efficient than others. As you can't withdraw with all methods, some have higher limits than others and some are faster - it's worth looking into what your best option is. Here are my top picks for both deposits & withdrawals at casinos in Canada.
See All Payments
See All Payments
KYC Requirements at Online Casinos in Canada
The online gambling market in Canada contains many grey areas when it comes to regulation, so the rules around submitting Know Your Customer documentation may vary from casino to casino. However, most licensed casinos will require their players to verify their age and identity.
What Verification Documents Do You Need?
The casino may request the verification documentation when you register your account, when you make your first deposit, or when you process a withdrawal for the first time.
- Email verification: The casino will send you an email with a link that you need to click to confirm your email address. Some casinos may also require you to verify your contact number.
- Identity checks: The casino may ask you for a photo or scan of an identity document that displays your name, age and photograph. This could be a passport, driver's license or some other form of recognised identity document.
- Proof of residence: Usually, casinos ask for a recent utility bill in your name that shows your current address.
Proof of residence is particularly important if you are playing at regulated Ontario casinos, as the casinos in regulated territories are obliged to ensure that all their players are located within their territory.
Verification Of Payment Methods
In addition, casinos may ask you to prove ownership of the payment method that you use. This might happen on registration, or at any other time during your relationship with the casino. Any payment method you use to fund your account must be in your name and cannot belong to any third party.
Third-Party Verification Agencies
Once the casino has received your documentation, it may use third-party agencies to confirm your identity and age, as well as your address and payment information, before you can gamble on its site. These third-party agencies are bound by data protection legislation, so your information is handled in a secure and confidential manner.
What Are KYC Checks For?
All these checks are in place to keep underage people from accessing gambling environments, to protect legitimate players from potential fraud or identity theft, and to prevent money laundering and any other fraudulent online activities. Although some online casinos do offer access without requiring any documentation, KYC checks provide an additional layer of security to protect you online.
Return to player (RTP) is the amount that a particular game pays back to its players, on average, in relation to the amount that the players spend over time. It’s expressed as a percentage, and the higher the percentage, the better the payout rate.
There are two different kinds of payout rates to be aware of. One is the RTP of a particular game, and the other is the payout rate of the casino as a whole. The latter is not always readily available, but some casinos will have their payout rates on display.
Just remember that chasing the best online casinos that payout could have little to do with your next win, as it all comes down to the RNG (Random Number Generator) and a bit of luck. The RTP won't be reflected in a single game session.