Top Deposit Methods For Canadian Sports Betting Sites – Easy Payments



deposit option - Canada sports betting

Most people see any kind of gambling as an activity somewhere between passion and addiction. Speaking of money management, it is often the most ignored element in the entire equation. Apart from passion, discipline, time and dedication, any sports betting enthusiast in Canada knows that he needs money to be able to fuel his passion respectively.

Thus, a Canadian online betting site must not only have good sports betting offers, selections, and customer support – it must also have good ways to handling a client’s money. We have reviewed some options for deposits and withdrawals, so please find bellow a short guide to popular payment methods at online betting sites in Canada , which hopefully will help you to choose the best one for your betting activities.





Deposits & Withdrawals – What Are The Best Options At Canada Sportsbooks?





There are two main components to the money handling part of any bookmaker: deposit and withdrawal options. The second is fairly easy and straightforward: whenever a client wants to cash in his winnings and withdraw money, he has to be able to do so quickly, easily, with fees as small as possible and preferably have the money delivered to his choice of medium (cash, credit card, e-wallet, prepaid cards, bitcoin, and etc).

The difference between Canadian betting sites is usually related to the number of days between the withdraw request from the client and the actual receiving of the money into the account. The best times on the market are around 1-2 days, but we have seen bookmakers take as long as five days to process a withdraw request from a client.

As mentioned before, this part is straightforward – the deposits are usually not. To put it simply, a bettor would want to have as many choices to deposit funds into his account as possible, and would like the money to appear instantly into their betting account. While this does happen for a number of deposit solutions we will analyze today; it isn’t the case for everyone.

Of course, you would like to give away as little private, sensitive information as possible, while also being in the clear to perform any transactions you want, regardless of sum and time of week when you choose to play. Thus, we will analyze the most common deposit categories to see what they bring to the table, their pros and cons, and help you decide which is the best one in your particular case.



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1. E – Wallets



e-wallets

Payment solutions such as Paypal, Skrill and Neteller are often mentioned as the most widely-used and safe deposit solutions in the gambling industry, and for good reason too. They work surprisingly simple: a customer must first setup an account with one of these companies, which works as an online wallet.



The punter then deposit money (or receive money) into this account, which in turn will be able to fuel his betting account. These online wallets are extremely secure and can be used in a wide array of domains outside betting as well. There is a good chance a lot of future betting customers already have such an account, which can make deposits a lot easier. Of course, no payment solutions is perfect. Please find bellow our reviews on each e-wallet payment method:

Pros: easy to use, funds available almost instantly, extremely secure payment solution.

Cons: Not all international bookmakers accept e-wallet payment solutions; Can take up to a few days to initially confirm account; fees are higher than other choices.



2. Credit & Debit Cards



credit-debit cards

Depositing funds from a credit card/debit card into your betting account is currently the most popular worldwide solution. Providers like Visa, MasterCard, American Express, Discover, or really any other credit card provider allow you to directly deposit funds from your card into your betting account.



We can safely presume that everyone receives their salary or money on a card these days, so this method is, without a doubt, the easiest to pull off.

Pros: very accessible, small fees, funds appear instantly into betting account.

Cons: card might have in-built limits both for incoming and outgoing transactions.



3. Prepaid cards



prepaid cards

In essence, prepaid cards like Paysafecard or Ukash work in the same way as a credit or debit card. You have a prepaid card issued by a provider, which you then use to deposit funds into your online betting account. The only difference is that this card is not issued in your name and doesn’t contain any personal data.



Although most bookmakers take great pride in the fact that they handle your data very well and do not divulge it to third parties, some betting customers simply don’t want to risk it. The bottom line is easy to remember: a prepaid card is a safer, more discreet method of getting away with a deposit – and is the way to go if you’re hiding from your significant other.

Pros: very discreet, lack personal info.

Cons: must be purchased from a specific vendor; some bookmakers do not accept it as a payment method; must be cleared for online transactions ahead of time.



4. Money Transfers



money transfer

Even though modern payment solutions have appeared all over the place, it’s strange how popular direct money transfers still are. These transfers are either performed by a company such Western Union, or conducted directly by the bank which holds your account. Either way, the money goes straight from your account (or pocket) to the bookmaker of your choice. Sending money using a money transfer is slightly more complicated than using a credit card or e-wallet, but most of these providers offer you step-by-step guides on how to do so.

Pros: very popular, extremely secure and trustworthy.

Cons: funds do not appear instantly; process requires some time and effort.



Summary



Without giving lots of names and detailed information, we have walked you through the most popular deposit options in the gambling world. Of course, every sports bettor has his preferred methods of conducting business, and there is no way of clearly saying that one deposit method is superior to another.

At the end of the day, it all boils down to personal preference and importance given to certain things like discreetness, ease of access or feel. Some deposit options activate some sportsbook bonuses for Canadian bettors with particular operator, so always be on the lookout for these things. After all, it’s your hard-earned money they are handling.