As you will be aware when you decide to place a bet on a land-based betting shop like a sportsbook you simply need to pay for your wager with cash. The bet will then be placed immediately.
When you are betting online things are a bit more complicated. This is because you have to find a remote payment method for paying for your bets and also to cash out any winnings that you might have managed to accumulate while betting online.
In this section of BettingSitesOnline.ca you will find all the different betting deposit options available with the top Canadian’s betting sites. Our experts will also advise you on what are the best payment methods so that you will have an hassle-free experience either when depositing and withdrawing from your betting account.
Below you will find the most common ways of deposit available to any bettors that want to use an online betting site in Canada. If you want to know more details you will find those in our comprehensive banking options guides. Simply browse around and you will also find a wide range of free bets and special bonuses. Those are available if you opt for the payments methods we have listed below with the top-rated Canadian betting sites we have recommended.
Lots of people that are buying or selling things online are using PayPal. This e-Wallet allows everyone that has an account with them to immediately pay or receive payments instantly. Lots of betting sites are now allowing bettors to use PayPal to deposit money or withdraw from their betting accounts. So if you have a PayPal account and wish to use it for gambling purposes you can do so with most of the betting sites we have recommended.
The vast majority of betting sites out there will allow you to fund your betting account using a credit card. Although this deposit method is instant and without any fuss, it is a rather expensive one to use. This is because credit card companies will mark the gambling transaction as a cash advance and not as a regular credit card purchase. It is therefore essential that you factor this into your betting budget if you decide to go for a credit card deposit method.
Neteller is similar to PayPal as it is an e-Wallet service. Thanks to this site you can send money to online betting companies and also request your winnings to be sent back to your Neteller account. You can access funds that are sitting on Neteller via Neteller debit card or you can link your bank account with your Neteller account and withdraw the balance in this way.
Bitcoins is a brand new way of funding online betting accounts. As you might have heard, Bitcoins are a brand new digital type of currency that is not linked to any government or country. You can trade Bitcoin via one of the many exchange websites. If you are keen to keep your online betting activity completely anonymous without having to go through your bank account, then using Bitcoins will be the way to go.
The Skrill service is another online wallet which is very similar to the one offered by PayPal and Neteller. You can use online Skrill account to send funds and withdraw from betting accounts instantly. Similarly to the other e-wallets you can link the online account with your bank account to fund it or to withdraw.
Pre-Paid Cards and Voucher Deposits
In case you don’t have a bank account or any debit or credit card, don’t worry as you can still fund your online betting account by using pre-paid debit cards and pre-paid vouchers. You would be able to buy those or top up your card over the counter at local retail outlets using cash. Once funded, you can use them at the betting sites to deposit into your online betting accounts.