You’ve found an online casino with all your favorite slots and card games. It’s enticing you with a 100% matched bonus if you deposit $20 or more. You’re ready to complete the deposit. But you’re not sure what payment option to use.
This is a common struggle for many casino players in Canada. There are far too many ways to deposit money at online casinos. Luckily, we’ve done the research. And we’ve compiled the 10 best payment methods to use.
#1: Visa or MasterCard
Visa and MasterCard might be different companies. But they have more similarities than differences. You can use either of them for casino deposits. Most casinos support both companies, after all.
Compared to e-wallets, Visa and MasterCard have a few benefits. For starters, almost every online casino in Canada accepts these two card processors. It’s nearly impossible to find a gambling site that doesn’t accept the companies.
Beyond availability, another benefit of using your Visa or MasterCard credit card for casino payments is that you may qualify for a chargeback.
iDebit needs no introduction. It’s one of Canada’s most popular payment providers. It facilitates payments between online banks and merchants like online casinos.
This means iDebit does not keep your funds in a digital wallet. Once your money leaves your bank account, it’s debited to your casino account immediately. Because of its quick speed, Canadian online casino players frequently choose iDebit as their preferred payment.
Interac is a popular payment method for online casinos, particularly in Canada. One of the main benefits of using Interac is that it allows for the transfer of money between an online casino and an online bank account without the need to share extensive personal or financial information.
Interac is linked to a debit card, which means users can only access funds that are currently in their bank account. This feature is particularly useful in preventing overspending, as it ensures users do not borrow money that they do not have.
Interac Online and Interac e-transfer are two of the popular Interac methods offered online. These methods allow for hassle-free deposits and withdrawals from Canadian online casinos. If you’re looking for a secure and straightforward payment method for online gambling in Canada, Interac is a great option to consider.
Skrill is one of the most popular casino payment methods online. It launched in 2001, back when many banks and credit card companies wouldn’t process transactions involving casinos.
Because of its willingness to work with casinos, Skrill has always been a darling for online casino players. It’s genuine and safe. It lets you fund your account using MasterCard or bank transfer. And it works with some casinos to assure you of a bonus once you create an account.
Lately, Skrill allows you to buy Bitcoin in its wallet. If you have plans to play at a crypto casino, consider buying your crypto at Skrill.
Neteller is Skrill’s sister company. They’re both owned by UK-based Paysafe Group. Neteller launched in 1999 in Canada. And for a brief while, it was competing against Skrill in serving the then-underexploited iGaming industry.
Neteller later moved overseas but it didn’t abandon its roots. To date, the digital wallet still works with online gambling companies. And because it’s similar to Skrill in how it works, you will often find it in every casino that accepts Skrill.
That being said, some Canadian casinos may not give you a bonus if you opt to deposit through Visa and MasterCard.
#6: Google Pay
Compared to PayPal and Skrill, Google Pay is a new kid. It launched in 2011 and struggled to beat its competitors for a while. It ended up rebranding from Google Wallet to GPay.
Now, you can use the digital wallet in 30+ countries, including Canada and the US. Being a Google product, you can rest assured this app is safe. It’s also revolutionary in how it works.
It uses a system called tokenization to eliminate fraud within its system. GPay also stores your true credit card data securely to ensure no one else besides you knows about it.
Bitcoin lost a little bit of hype after crashing in 2022. But this isn’t to say it’s now irrelevant. The cryptocurrency revolutionized banking. Created in 2009 by someone who chose to remain anonymous, Bitcoin enables peer-to-peer payments like no other payment company.
There’s no intermediary when dealing with crypto. This lowers the transaction cost and increases speed. With that said, crypto does not support reversals. If you send money to the wrong address or to a fraudster, you lose it forever.
The reason Bitcoin is so successful today has everything to do with the blockchain. This decentralized ledger keeps records permanently albeit transparently.
#8: Wire Transfer
Wire transfers may be slow. But they’re safe and reliable. What’s more, direct bank payment is your best option when withdrawing a large amount of money from an online casino.
Think about this. Most digital wallets like PayPal have a maximum payment limit of $10,000. You can’t use credit/debit cards for large transactions either. If you win $100,000 or $1 million, there’s no better way to cash out your money than through direct bank payment.
Besides, wire payments can be traced. If anything happens, all you need is to contact your bank’s customer service department.
Before Skrill and PayPal revolutionized online banking, many casinos accepted physical checks. It would take ages to mail a check. And in many cases, players would lose their money. Physical checks eventually lost their usefulness in the online banking world.
Now, they’re back. The only difference is that there’s no paper involved and the typical payment takes 1-2 days. Casinos are supporting eChecks because they can’t go through unless you have money in your accounts.
In other words, a digital check can’t bounce. As a player, consider using eChecks due to their speed. A payment window of two days is much shorter than using bank payments or credit cards.
The online casino industry is changing. Not only can you play slots through your iPhone, but you can also play these games on credit. That’s right. You can play your favorite games and settle your bill afterward.
Although Boku isn’t available everywhere, it works with more than a dozen Canadian online casinos. All you need is to sign up on the app and find a trusted Boku casino. Check if you qualify for Boku’s Pay by Phone offers. And if you do, use it to gamble on credit.