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Online Gambling Sites » Online Betting Payment Methods 2022

Online Betting Payment Methods 2022

Online Betting Payment Methods in Canada

Last Updated on 26/11/2022
Fact checked by: Melissa Roy

It’s very important you are aware of what choices of payment methods you have for online betting, and how this affects your online privacy.

Here, you’ll find why some e-wallets are better for faster payouts and why using PayPal is better for your online privacy when online betting in Canada. We’re here to tell you about the best online betting payment methods, how to use them, and everything you need to know.

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Top Bookmakers
Bet365
89/100
Betway
88/100
Unibet
87/100
Smarkets
84/100

Compare Online Betting Payment Methods in Canada

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Bet365
1.
89/100
Rating
Find out more on Bet365.
Bet $1, Get $200
Bet365 Review Visit Site
T&Cs apply, 21+
Betway
2.
88/100
Rating
Credit Card
Additional Betway Payment Methods
PayPal
Applepay
Skrill
Neteller
+16
Risk-free Bet
Betway Review Visit Site
T&Cs apply, 21+
Unibet
3.
87/100
Rating
Credit Card
Additional Unibet Payment Methods
PayPal
PayNearMe
Play+
VIP Preferred
+8
100% up to
$500
Unibet Review Visit Site
T&Cs apply, 21+
Smarkets
4.
Rating
Credit Card
Additional Smarkets Payment Methods
PayPal
Bank Transfer
Skrill
Neteller
+2

Most of us are aware of PayPal, who were the first gargantuan online payment method around the world in the late 90s, and after just over two decades of service, they remain one the best online betting payment methods for both its easy nature and security.

In Canada, however, iDebit and Instadebit are two popular methods alongside PayPal, and they are all completely licensed, legit and easy to use for online betting, too.

The Average Processing Times for Online Betting Payment Methods

One of the trickiest things to work out when using online payment systems is the processing times, as each one can vary depending on the method that you use. Online betting sites will try to get your money to you as quickly as possible for reasons that benefit both you and them, so you can continue to play with them as soon as possible, and get your cash easier. However, when it comes to withdrawing your money, especially if you use a bank wire, things will take a bit longer than when you deposit.

The potential delay of a few days when withdrawal is why many bettors opt for online betting payment methods like PayPal, so they can get the money rapidly and in some cases, instantly. However, in terms of the average speed, this will depend on the processing times of the operator and the payment system you are using, but you can be assured that using an online payment system such as PayPal will be significantly quicker than a direct wire transfer to your bank, as is the case in most circumstances with online payment.

Bookmaker Payment Methods & Verification

Similarly to the withdrawal processing, the online betting payment methods will differ in their own way when it comes to verification. In rare cases, some payment services allow you to have an account without being fully verified and move money around how you please, but we do advise on steering away from these systems for obvious reasons.

On the other hand, for your own security and to make everything easier and get the most out of bookmaker payment methods, ensuring you’re fully verified is essential. These providers will ask for a bunch of things to verify your account, such as proof of residence and ID, and when showing them your ID, more often than not, a passport or driver’s license is enough.

As for showing proof of where you live, the best and easiest way of doing this is a utility bill or a bank statement. If you don’t have any of these, you can request them from your bank or bill operator.

Online Betting Payment Methods – The Editor’s Recommendation

As is the case in many places around the globe and in North America, PayPal remains the most well-known and the best choice for your bookmaker payment methods. Indeed, there are faster services out there, but with PayPal, you have two decades worth of service and unrivaled customer service.

iDebit and Instadebit are two competitors of PayPal and they are both efficient, fast, have a low fee and they also won’t share your financial information at all, so if you don’t want to use PayPal, these are two healthy options also.

Bookmaker Payment Methods FAQ

Do I need to use the same deposit and withdrawal method?

This will depend, but more often than not, the answer is yes. Prepaid cash cards like Astropay can only be used as deposit methods on some sites, but with services like PayPal, you can withdraw and deposit in this manner, but you can deposit through your bank and then withdraw through PayPal, for example.

Why does an operator block my account?

This could be a few things, but if you thoroughly read the terms and conditions, there shouldn’t be an issue. We advise on contacting customer service if you’re unaware of how your account was blocked, as they will have the answer and can maybe even unblock it once the problem is resolved. For example, if it is a verification issue, then you can chat with them and verify yourself in this way.

What payment method will get me a bonus?

For this, you’ll need to check the terms and conditions for bonuses and depositing, but in general, most payment methods won’t disrupt a bonus offer, but this isn’t always the case and some deposit methods might not be compatible for some methods, so ultimately, read the terms and conditions to see what issues there could be.

Why didn’t my deposit work?

There might be a few reasons, but your payment provider will have the answers to this. If they don’t, you will need to contact customer service to see what the problem is.

What if I try to use a different payment method that doesn’t match the name of the betting account?

In most cases, this won’t be a possibility, so do ensure that you’re using the same method of payment that aligns with your betting account. The reason for this is simple: security. If somebody is trying to use your bank and it doesn’t match the name of the betting account, it would be quite easy to steal money through betting.

A Summary of the Best Bookmaker Payment Methods

Ultimately, the best bookmaker payment methods are the ones which are fully legit and licensed and the ones that are completely secure and easy for you. With this said, we believe it’s important to avoid systems that don’t require adequate verification and stick to the popular methods like PayPal and iDebit, as we know these ones are secure and allow for easy withdrawal times.

Enjoy online betting with these top providers

Bet365
1.
89/100
Rating
New Jersey (US)
Bet $1, Get $200
Bet365 Sports Bonus
Bet $1, Get $200
Bet365 Review
Go to Bet365
Visit Site
T&Cs apply, 21+
Highlights
  • Parlay betting bonus up to 70%
  • Range of esports betting options
  • Top-rated mobile app
Betway
2.
88/100
Rating
Credit Card
New Jersey (US)
Risk-free Bet
Betway Sports Bonus
up to $250 Risk-free Bet
Betway Review
Go to Betway
Visit Site
T&Cs apply, 21+
Highlights
  • Welcome bonus of up to C$200
  • Free Bet Club offers weekly bonus
  • Cash-out of in-play live events
Unibet
3.
87/100
Rating
Credit Card
New Jersey (US)
100% up to
$500
Unibet Sports Bonus
100% up to $500
Unibet Review
Go to Unibet
Visit Site
T&Cs apply, 21+
Highlights
  • Competitive odds
  • First deposit matched 100%
  • Huge choice of sports betting options
Smarkets
4.
84/100
Rating
Credit Card
MGA - Malta Gaming Authority
Smarkets Sports Bonus
Smarkets Review
Highlights
  • Refund of up to $10 if your first bet loses
  • Customer service available 24/7
  • Stylish website and user interface

Online Betting Payment Methods FAQ

💵 How do I deposit money for online betting?

In today’s modern world, there are numerous ways you can deposit and fund your online betting account, but there are different bookmaker payment methods for different operators. A few sites will have only a few options, but a lot of the best betting sites Canada has to offer will have a huge list of bookmaker payment methods.

💳 Are credit cards compatible as a bookmaker payment method?

Credit and debit cards used to be the only online betting payment methods, but with the addition of e-payment to the world, you can use both credit and debit cards as well as online payment through systems like PayPal and it is extremely rare for an online gambling operator to not allow the use of credit or debit cards.

🎰 Are you able to use online payment systems like PayPal?

You can use online payment systems like PayPal for almost anything, but is it the same for online gambling? At Wetten CA, we’ve listed all the possible methods of payment in our payment method reviews, be it for things like PayPal betting or crypto betting.

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Players must be 21 years of age or older or reach the minimum age for gambling in their respective state and located in jurisdictions where online gambling is legal. Please play responsibly. Bet with your head, not over it. If you or someone you know has a gambling problem, and wants help, call or visit: (a) the Council on Compulsive Gambling of New Jersey at 1-800-Gambler or www.800gambler.org; or (b) Gamblers Anonymous at 855-2-CALL-GA or www.gamblersanonymous.org.

Trading financial products carries a high risk to your capital, especially trading leverage products such as CFDs. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

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