Sportsbook Payment Methods

Online betting is a booming industry, with thousands of bettors across Canada wagering on sports every day.

How to fund your account is one of the most important decisions you must make when signing-up with a bookmaker and it is important to find a method that works for you.

The experts at BettingTop10 have taken the hassle out of the process by producing a comprehensive guide to the different payment methods on betting sites in Canada.

Wondering what are the most popular payment methods for gambling and betting in Canada? We’ve made a list of the most popular payment methods in online betting websites

Which are the best payment methods for Canadians?

There are a plethora of different payment options available to Canadian bettors. These include credit/debit cards, electronic wallets, prepaid cards/vouchers and online money transfers.

Card payments such as Visa or Mastercard remain one of these most popular Canadian payment methods, with their simplicity offering an efficient to fund your account.

Once you have registered your card with your chosen bookmaker your details are securely stored to facilitate any future transactions.

You must have funds available in order to complete a deposit via card, otherwise your card provider may decline the payment request.

e-Wallets have become a hugely popular gambling deposit method in recent years, with the additional layer of security they offer to prove attractive to many gamblers.

PayPal, Skrill and Neteller are amongst the different options, with each allowing you to set aside money away from your normal bank account for the purposes of gambling. This is a great way to manage your bankroll and stick within the betting limit you set yourself.

Prepaid cards, bank transfers and online money transfers are other popular payment methods for gamblers who would rather not use cards or e-Wallets.

Things to consider before choosing a deposit method

Before you choose a deposit method you must be satisfied that it suits your particular needs. Start by visiting the cashier section on your chosen site to find the information you need.

Withdrawal times

Withdrawal times vary between different bookmakers, although most generally work to a 3-5 day timeframe to credit winnings back to your account.

The majority of sites require you to make withdrawals by the same method as you deposited, so make sure you are happy with this before making a payment.

e-Wallets are often the quickest withdrawal method, with some bookies completing transactions within 24 hours via the likes of PayPal, Neteller and Skrill.

Debit and credit card withdrawals usually adhere to the 3-5 day average, although some sites manage to process payments more quickly.

Bank transfers and checks usually require you to wait for your funds for the longest period of time, with 5-14 days often quoted by Canadian bookies for these options.

It is also worth noting that many betting sites have pending periods where you can change your mind and cancel the withdrawal request. This is usually between 24 and 48 hours.

Is it safe to deposit?

Most online bookmakers are completely safe to use and have built up an excellent reputation during the time they have been operating.

Whether you are planning to use an established company or one of the newer sites, check out the reviews at BettingTop10 to find all the information you need.

Look for sites that hold a current operating license issued by a known gambling authority such as the Kahnawake Gaming Commission.

For offshore firms, licenses from the UK Gambling Commission and the Malta Gaming Authority point towards a site being trustworthy.

Make sure that your chosen site offers plenty of ways to contact them – the ones that have something to hide often only offer a web contact form.

A big choice of payment options is also a sign that it is safe to deposit, as reputable payment providers are generally reluctant to work with untrustworthy brands.

Avoid any sites that don’t use the latest SSL encryption technology as this indicates that they don’t take keeping your details secure seriously.

What are the different payment methods?

What payment options are available?