Find the best deposit method for Canadian Betting sites with BettingPro
We analyze several bookies on Bettingpro and make recommendations based on active user experience. After thorough research and experimenting with each of these websites, we discovered that each deposit and withdrawal method has its set of pros and cons.
In terms of ease, the best deposit method is the use of credit or debit cards (either MasterCard or Visa) as the stress of physically going to the bank is eliminated. Your funds appear in your betting account immediately. However, some banks do not allow their cards to be used for gambling activities.
In terms of safety, the bank wire is unrivalled. You’re sure no one else is getting your confidential bank details and your account can’t be debited without authorization. However, you have to go to the bank physically to use the bank wire option.
Overall, we’ll recommend the credit or debit cards as they’re pretty much safe and are stress-free.
What are the safest payment methods to bet online in Canada?
Nowadays, there are many online payment platforms that are used for deposit and withdrawal of funds from betting accounts. However, some of these platforms have restrictions on gambling activities while some do take quite a while before processing your payment. Do you want to know about the best and safest payment methods to use for betting online? Then this section is for you:
This is one of the biggest payment platforms all over the world. It is allowed as an option to make both deposits and withdrawals on most betting sites and it qualifies for all betting bonuses (it is advisable to use the same Visa card used for deposit to withdraw as well). All banks issue Visa cards, however, some banks restrict their cards from being used on betting activities
This is another payment platform on the same level of worldwide esteem as Visa cards. It is also accepted by many betting platforms and also qualifies for all the betting bonuses. However, some banks do not allow withdrawal using their MasterCards and some do not even allow the use of the card for gambling activities
This is probably one of the biggest online payment platforms all over the world. It does not use cards but allows transfer of funds from one Pay Pal account to another. It doesn’t come with all the stress required with bank transfers and movement of funds is instant. It is however not allowed for use in gambling activities in Canada.
Just as the name suggests, eWallets are an electronic form of wallets where you can keep funds and deposit on betting sites and also withdraw back to your wallet. They are quite popular because of the ease that comes with the movement of funds and the privacy it provides with regards to your bank details. Popular examples operational in Canada include MuchBetter, Ecopayz, Skrill, and Neteller. The most advisable ones to use are Ecopayz, and MuchBetter as Skrill and Neteller do not qualify for most betting bonuses and they are usually restricted from use in gambling activities.
These are vouchers that can either be purchased physically or online. Once you create an account and link it to your bank account, then all you need is the voucher code to make deposits. Inputting the voucher code after choosing Paysafecard as your deposit choice automatically moves funds from your bank account into your betting accounts. However, it cannot be used for withdrawals.
This is still the safest method of deposit and withdrawals into betting accounts. However, it takes quite a while to process and there are fees deducted on every deposit and withdrawal.
This is the most famous and valuable cryptocurrency and some sportsbooks accept it as a mode of payment. The Bitcoin deposited are converted into your currency of choice, and when the withdrawal is paid out in Bitcoin as well. To deposit the Bitcoin into your account, you send the BTC to the sportsbook's BTC wallet address. However, many people do not trust the mode of payment.
This is an electronic form of paper checks. The only difference is that everything is done electronically and eliminates the stress of going to the bank. It involves the betting site sending you an online payment form which you fill to authorize the payment. The money is automatically withdrawn from your account into the betting account. The processing could take 3 to 5 working days before it is credited to your betting account. Therefore, most people do not favor this mode of transaction.