Canada legalised online gambling back in 2009 and the first online betting site was opened in 2010. Thus, British Columbia citizens were allowed to legally bet online for the first time. Today, there are hundreds of renown Canadian betting sites, which take great care in providing various reliable and secured payment methods to Canadians. Below, we will discuss some of the most popular payment methods for online betting in Canada.
1. Credit/Debit Cards
Credit and debit cards are one of the most popular ways to make casino deposits online, and they are widely accepted as well. To use credit/debit cards in casinos, all you need to do is to enter your credit card information in your online casino account. What is more, credit/debit cards are not only customer-friendly, but they also provide secure and quick transaction options. Additionally, even if you do not have a credit card, you can always purchase a prepaid card and you will be able to make casino deposits. Below are some of the most renown credit and debit card providers.
Visa
Visa is great not only for Canadian players but for all gamblers around the world, as this is one of the most common credit and debit card companies. What makes Visa great is that a large number of sites offer additional bonuses to players using this payment method.
MasterCard
Another widely popular credit/debit card company is MasterCard. Similarly to Visa, MasterCard allows for quick and secured online deposits, which makes it a great option for online casinos. You should keep in mind, however, that MasterCard does not permit casino withdrawals.
Paysafecard
Paysafecard is a type of prepaid card which can be purchased from most shops in Canada. This is the most reliable online prepaid payment method in the world. Paysafecard is secured, allows for the use of the full value of a player’s PIN, and provides quick and protected payment options.
2. e-Wallets
e-Wallets offer players to make quick casino deposits and withdrawals without having to provide operators with vital personal data. Actually, it is the fact that credit card information remains secured with e-Wallets which give players an incentive to use them. Below are some of the most popular e-Wallets among Canadian players.
iDebit
iDebit is one of the most popular e-Wallets among Canadian gamblers. This e-Wallet allows quick and secured transactions to be made. What is more, iDebit has cashing out fees only, which is really great. Using iDebit is as easy as a child’s game—all you need is an iDebit account and log in with the name and password you use to access your online banking account.
Interac Online
Branch of the Interac family—a Canadian interbank network which allows for transactions between customers and businesses, as well as institutions, Interac Online is great for Canadian gamblers. Similarly to others, this e-Wallet will not reveal your bank account information to third parties, which makes it a secure and reliable payment method.
Virtually, Interac Online works on the same principle as iDEAL in the Netherlands or Secure Vault Payments in the US. The e-Wallet is available at all major Canadian Banks.
PayPal
Arguably the biggest e-Wallet in the world, PayPal is one of the most secured e-Wallets. PayPal is great for online gaming as the company never ceases to improve its security. The payment method allows for quick transactions—casino withdrawals are processed almost immediately.
Currently, comparatively few casinos in Canada offer PayPal, that is why it is preferred to choose an alternative, such as iDebit or Instadebit.
Instadebit
Instadebit is arguably the best option for Canadian players. The e-Wallet is Canadian and works with Canadian banks in relatively the same way as PayPal. Unlike PayPal, however, Instadebit is widely accepted, which is also why it is better. Using Instadebit as a “transaction middle-man” is completely free for casino clients—if there are any fees, the casino operator deals with them.
One of the biggest advantages of Instadebit is that balances in the Instadebit account are divided by currency. So, if you have USD and CAD balances and make a deposit in USD, Instadebit will use your USD balance first, and your CAD balance will be untouched.
3. Bank wire transfer
A lot of Canadian casinos also accept bank wire transfers. Even though bank wire transfers are more burdensome for players, they provide secured transactions, which makes them another renown option. Bank wire transfers usually take between two to five days to process. What is more, unlike other payment methods, bank wire transfers might have higher fees. If you are considering bank wire transfers as a payment method, it is advisable to contact the bank and ask for additional information first.
All in all, Canadian players can choose from a wide variety of payment methods available. Our advice: always check the payment methods available at the venue you have chosen before proceeding to play.