Casino Payment Methods in Canada 2022
One of the features that determine whether a player would pick a particular casino to gamble at is the variety of payment methods that the platform offers. You want to play at a site that has a ton of options for you to pick from, with great features like security and fraud protection.
Online casinos would let you use these means to transfer money for gameplay and withdraw your winnings from the games. Do you want to know about these payment options, and which is the best to use? Read through this guide to find out more.
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💳 Credit and Debit Cards
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People do not really like this method because it can lead to fraudulent activities as it is linked to their bank and their data. The betting site encrypts these bank details and keeps them secure, so you do not need to worry about being compromised.
To make your first gambling deposit, you would have to enter your card details, including the digits in front, the expiry date, and the CVV security code behind the credit card. These casinos would save these details for your next transaction and protect you from fraud.
💵 Prepaid Cards
If you are interested in more modern means of paying in casinos, you should be looking at a prepaid card. These are cards preloaded with certain amounts and used to fund your bankroll in your favourite casinos.
There are different prepaid cards to pick from, with some offering single-use and others working like debit cards, allowing you to top up severally. One place you can use a top-up card is a Paysafecard casino that allows you to enter the 16-digit code you purchase and recharge your bankroll with some cash or the total. Other popular casino deposit methods include:
- Visa Prepaid
- MasterCard Prepaid
These prepaid cards provide high security and anonymity because they are purchased independent of your bank account. There is also no need to submit any personal data, so you remain protected throughout. They work similar to debit and credit cards, so you can follow the same easy method to fund your bankroll.
Electronic wallets act as a secure gateway to move funds to your online casino account to allow you to make safe and secure transactions without any fear of being defrauded. This option may not be 100% convenient because you would be required to sign up and then fund the wallet. This usually means downloading an additional mobile application.
There are different service providers who offer e-wallets, and their services are globally accepted, Canada inclusive. You can decide to gamble using PayPal, Neosurf, or even the Skrill casino option. Using this method, you would get instant deposits to play games immediately.
Like every other option, there are some reasons why players do not like the method. These reasons include ineligibility for bonuses and transaction charges. The gambling site is likely to request a commission to release your winnings to your e-wallet, after which the service provider would charge you a certain percentage to transfer the cash to your bank. Just ensure you read the terms and conditions of the site before you pick e-wallets as your preferred payment option.
💸 Online Casino Bank Transfers
This is a tricky payment method because of the slow processing speed that is usually associated with it. Unlike the features you would enjoy gambling in a Neteller casino site, this option can take a long time to complete your deposit and receive your payout. If you are down to wait, though, you can get high limits here.
In great contrast to its only flaw, this is one of the safest deposit and casino withdrawal methods. You simply need to collect the casino’s details and authorize a transaction from your own financial institution. When you want to collect your winnings, you can count on your traditional bank’s safety precautions and encryption to keep you safe.
With some luck, your preferred gambling site may offer an instant bank wire transfer. Some services include:
The instant option would process the transaction speedily, allowing you to start your gameplay almost immediately. Alas, they are not among the accepted means of withdrawing, so you may need to find another option for withdrawing your winnings from the casino.
📱 Mobile Payments
Mobile casino betting is the more popular way to enjoy the gameplay online because it allows you to play these casino games whenever, wherever. If you enjoy playing at these mobile casinos, you will enjoy a mobile option.
You can transfer funds to the casino using your phone number. If the phone bill casino allows players to use these deposit possibilities, they can easily use one of the available services. If you are looking to pay by phone, you should try to use a popular and widely accepted option.
For example, the Boku option allows players to transact using their phone numbers. You just need the mobile number from the betting site, and you can easily deposit cash using your monthly bill, and it can then be paid later on.
This option can be done quickly and easily, but it is not always available, so check that the casino accepts it.
🥇 Bitcoin Payments
Cryptocurrencies offer a high level of privacy and anonymity, which is one of the main reasons players love this option for transacting in online casinos. Aside from that, it is secure and fast, one of the fastest withdrawal casinos methods, and there are nominal charges related to using it. The best online casinos do not require any commission, and you only need to settle the blockchain transaction fee, which can be little, depending on the option you pick.
This option is eligible for welcome bonuses, and a cryptocurrency casino would even offer exclusive bonuses to players who use this option. When it comes to transaction limits, you will get higher limits at a Bitcoin casino you pick. You would have to purchase Bitcoin from a crypto exchange, store it in a wallet, and then transfer it to the site.
BTC payments are not widely accepted, so you should check the terms and conditions to confirm. Also, this decentralized currency is highly volatile, so changing from BTC to fiat and back may increase or reduce its worth.
💰 Fees and Limits
Now that you know these popular online casino payment methods and their features, you must be curious to know the limitations they may have and what charges, if any, exist.
Below, you will find a table with this information, including the processing time for each option. The fees and limits are only estimates because each site has its features.
|Method||Fees||Limits||Deposit Speed||Payout Speed|
|Bank Transfer||None||C$100 – 50,000||1 – 3 days||3 – 5 days|
|Visa||None||C$5 – 20,000||Instant||1 – 5 days|
|MasterCard||None||C$5 – 20,000||Instant||1 – 5 days|
|EcoPayz||Up to 2.9%||C$5 – 5,000||Instant||Instant|
|Bitcoin||None||C$5 – 20,000||Instant||Instant|
|PayPal||None||C$10 – 5,500||Instant||Less than 24 hours|
|Paysafe||None||C$5 – 779||Instant||Less than 24 hours|
|Skrill||None||C$10 – 5,000||Instant||Less than 24 hours|
|Neteller||None||C$10 – 5,000||Instant||Less than 24 hours|
🔒 Security and Safety of Casino Banking
There are different security features that a payment option may provide to make it stand out. The blockchain that Bitcoin operates on makes it so that you do not even need to submit your personal details to the site before you can play.
Perhaps you prefer to bank on the secure gateway your bank provides between your account and the betting site itself. You even get high levels of fraud prevention and advanced protection when you decide to try Visa or Mastercard casino gambling. Not convinced? Use prepaid cards that keep you completely anonymous, allowing you to transact easily and securely.
Our expert review team has tested these online gambling payment methods to ensure they are reliable. Although all of these Canadian online casino methods offer some level of security, some are safer than others. Ensure you do proper research into which would favour you the most.
✅ Use Only Trusted Casino Payment Methods
Picking the right payment method might be difficult, but we hope this detailed guide has put things in perspective for you. You should now know the features of these popular casino deposit options and whether they suit your preferences.
Are you ready to fund your bankroll and play exciting games? You can read through the best online casino reviews to find which site offers your preferred option. Remember to read the terms and conditions of the casino, including its limits, bonuses, and licensing, before you settle for the gameplay on the site.
1️⃣ What are the alternative methods of payment at online casinos?
There are many ways of transacting in online betting sites. Depending on your preference and the site’s offerings, you can opt for prepaid cards, Bitcoin, e-wallets, and wire transfers.
2️⃣ Are all casino payment methods safe?
Yes, all trusted, paying online casinos ensure that the means of payment on their sites are 100% safe for their users to transact. This means that you do not have to worry about your security.
3️⃣ Are there restrictions on deposit and withdrawal amounts?
Yes, depending on the option you pick, you would face some restrictions. Some casino deposit options like e-wallets have low maximum limits, while cryptocurrencies like Bitcoin have high minimum deposit limits.
4️⃣ Which payment method is instant?
Every player wants an alternative payment option that would process a transaction instantly. To make deposits, all prepaid cards, some e-wallets like InstaDebit, and Bitcoin are instant, while Bitcoin and e-wallets like EcoPayz offer instant withdrawals.
5️⃣ What is important to consider when choosing a payment method?
Before you pick an option, it is important to confirm the processing speed from the site. You should also check if it is available for receiving payouts, the transaction limits and its eligibility for bonuses.
6️⃣ How to deposit money for online gambling?
First, confirm that the betting site you opt for accepts your preferred method. Next, head to the cashier section, pick the deposit option, and enter the amount you would like to pay.