Page updated on 13.06.2020
Popular Payment Methods for Canadian Players at Online Casinos
Canada is a country known for many things. For starters, did you know that it's the second-largest country in the world? It's a nation of Canadian maple syrup, crispy Canadian bacon, ice hockey and poutine. We love our Tim Horton's donuts and our coffee, and we were one of the first to legalize marijuana. We even named our $1 and $2 coins 'Loonies' and 'Toonies.'
Canada ↱ has become a top-10 country when it comes to gamblers, with an online gambling market of over C$30 billion. A likely explanation for the growth is our gambling laws that allow Canadians to play at any number of licensed and regulated offshore operators. Europe has two standup ones represented by the Malta Gaming Authority (MGA) or UK Gambling Commission (UKGC).
To help facilitate this, we're also fortunate to have access to many casino payment methods, both homegrown and international. The lists of options keep growing, and we've included a few of the most popular ways of making deposits to Canadian dollar casinos. You can qualify for a casino bonus when using most, if not all, of these methods that might involve a signup bonus, deposit bonus, free spins or cashback bonus.
Canadians love instant banking, and we are fortunate to have some homegrown giant Canadian payment providers that include iDebit, Instadebit and Interac. These methods are only available to Canadians with CAD or USD bank accounts.
Many casinos that accept players from Canada also allow CAD deposits to online casino player accounts using these payment providers. Interac casinos, iDebit casinos and Instadebit casinos are all reliable, instant, convenient, safe and secured by the same online bank from which the transfer is instructed. You can use these same providers to withdraw Canadian dollars from your player account.
iDebit supports TD Canada Trust, CIBC, Royal Bank (RBC), Bank of Montreal (BMO), Bank of Nova Scotia (Scotiabank), Desjardin Group, Simplii Financial and National Bank. Instadebit and Interac support these and many more Canadian financial institutions ↱, including credit unions (caisses populaires in Quebec).
There are, however, the possibility of transfer fees, but these are relatively low and, in some cases, can be avoided. An instant banking payment provider acts as an intermediary between the user and the casino. These first debit the amount from your bank account and, at the same time, credit your mobile online casino player account, which eliminates bank transfer processing times. Your transactions will appear on your bank statement.
Credit card deposits, including Visa and MasterCard, are another way of depositing to Canadian dollars online casinos. Both credit card companies are the largest processors of credit cards in the world and accepted at most operators.
Their advantage is that credit cards are instant, widely accepted, SSL protected and generally free. You can use the credit limit on a credit card as a way of controlling your gambling if you apply a reasonable credit limit. We only recommend using a credit card for convenience and never to borrow from it without having funds to repay it immediately. Also, as credit card transactions appear on your credit card statement, this is not the most discreet method of gambling.
Credit cards may be less anonymous, as you may need to provide your credit card details to the online casino. Finally, credit card withdrawals are not always possible, which would mean that you'd have to choose a different option. Often, the casino will choose the withdrawal method for you, which can involve a bank transfer.
Some Canadian online casinos also accept deposits with Maestro (issued by Mastercard) or Visa Electron cards. These debit cards are linked to your bank account and are an alternative to credit cards.
It means tighter control over your spending, as your account is checked for available funds when instructing the transaction. A downside of paying with a debit card is that transactions appear on your bank statements, so this is also not the most discreet method.
On the upside, these methods have all of the advantages of being safe, secure (SSL encryption) and fast. You can use debit cards for deposits to Canada online casinos and withdrawals back to your online bank account.
E-wallets are digital money accounts with payment providers, and they are great because they are fast, secure (using encryption technology), usually free if you're going to send money, and discreet. They support Canadian dollars, US dollars and many other currencies. You can also use an e-wallet to withdraw cash from your player account.
Deposits using electronic wallets are another effective way of topping up your CAD online casino player account. Ecopayz Canada casinos allow you to deposit and withdraw money in Canadian dollars, US dollars or other currencies. Likewise, there's also Jeton Canada casinos and MuchBetter Canada casinos
Paysafecard is a product from Worldpay, which is a global payment provider, with other brands like Neteller and Skrill, but these are not available in Canada.
Paysafecard casinos allow players to deposit money from a voucher which you need to purchase. There are several advantages to this method, beginning with the ability to control your spending given you cannot deposit more than the value of your voucher. Also, payments take mere seconds and are safe and secure with a 16-digit pin.
Finally, there are no credit checks! Unfortunately, in terms of a payment option, the vouchers come in relatively small sizes, which may make them impractical for use. Also, Paysafecard withdrawals are not possible, so you'd have to choose a different withdrawal method.
Players in Canada can use e-wallets such as MuchBetter, Jeton and EcoPayz. There are also credit cards like Visa and Mastercard and debit cards like Maestro and Visa Electron. Instant banking options include Instadebit, iDebit and Interac. Finally, there voucher payment methods such as Paysafecard.
For Canadians, playing at an offshore online casino can be very safe as long as you take some necessary precautions. First, stick to licensed and regulated casinos. Fortunately, Europe has two great ones (MGA and UKGC), but there are others. A good regulator ensures that operators are compliant with player protection, anti-money laundering laws and fair & transparent.
Yes – generally, new players to a casino from Canada will receive a deposit bonus. Also, you may qualify for free spins, cashback bonus offers or other incentives. Still, it will ultimately depend on the casino. Keep in mind that these come with bonus terms, so be sure to read them first.
Different payment methods have distinct advantages and disadvantages, so you will need to weigh them all. Some disadvantages involve fees, do not allow withdrawals, cap the maximum deposit amount or lack discretion. On the other hand, some are more discreet, fast and will enable you to control your spending better.
You can be confident that whatever payment option you choose is protected by the latest technology.