Online Betting Deposit Methods

Online Betting Deposit Methods

No matter how long you’ve been betting online one of the most important factors to consider is always the safety and security of your money, and exactly how you’re going to get it from your bank and into your sports betting account. There are literally hundreds of different deposit methods out there but most betting sites in Canada only accept / feature a handful, and they vary from sportsbook to sportsbook as you can see on the table below.

Canadian Sports Deposit Options

With more and more Canadian sports deposit options currently available to bettors in Canada and around the world, we’ve constructed this compatibility table to keep track of them all. Check out our list below to see which betting sites offer your payment methods of choice.

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There will always be online betting sites willing to take your money. But the ones you give your money to, and how you do so, can be more important than the actual bets you place. The first piece of advice we can offer is to always work with a reputable site. Never give money or payment information to a site you know nothing about. You should only use sites that:

  • You’ve used before
  • Your friends have used, and have recommended
  • Have a strong reputation
  • Have good online reviews. The reviews on their own sites don’t count

How To Deposit Money On Online Betting Sites

As you can see from the chart, the most widely accepted payment option is Visa, although we’re seeing a slow adoption of their new Visa Debit card in the online community. 

MasterCard is the second most accepted payment option and will give you access to nearly every site, with the exception of Sports Betting and Bookmaker. 

Elsewhere, NETeller is a great option for most Canadian-facing sportsbooks. It’s secure and almost instant, which makes it a very popular option. If you want to use your Paypal account, it’s accepted by sites such as Bet365, BetVictor, Betway, Betfred and 888 Sport.

How to Withraw Money From Online Betting Sites

You probably already know that Canada has less stringent regulations around gambling than the US, and that certainly includes the online world. Your credit and debit cards are welcome nearly everywhere, but they are obviously for making deposits, not withdrawals. 

But the good news is, getting access to your winnings is still very easy in Canada. You don’t have to worry about bank transfers or courier cheques, unless you want to. 

Canada-facing sites allow you to use an e-wallet, which gives you much, much quicker access to your funds than our American neighbours. It also means you don’t have to wait for a bank transfer or a couriered cheque to receive your winnings, unlike Americans. PayPal and Neteller make it very easy for you to cash out quickly and painlessly. 

You can also opt for a traditional bank wire transfer, Western Union transfer or Moneygram cash transfer, if that is how you made your deposit to get started.