Betting on sporting events is one of the most popular pastimes in Canada. With the appearance of iGaming, Canadian punters can now back their favourite sports team from home, without having to drive hundreds of miles to the nearest retail sportsbook.
Online sports betting is undeniably fun and potentially very lucrative. And since Canadians are accepted at thousands of betting platforms globally, finding a reliable sportsbook is easier than ever before, especially with our expert team’s help.
But once you find the right betting site and sign up for an account, you’ll need to load it up with funds before you’re able to place real-money wagers. This can be achieved using one of the many payment solutions you’ll encounter on our recommended betting sites.
Below, you’ll find a detailed presentation of the most commonly used sportsbook deposit options in Canada. We’ll bring you up to speed with how each option works, its key features, and processing times.
Most Reliable Deposit Providers on Canadian Betting Sites
While it’s true that you’ll find a wide range of banking methods on each of our recommended betting sites, the number of sportsbook deposit options varies between different operators. Regardless, a couple of ubiquitous payment solutions are supported by the vast majority of Canadian betting sites. These are:
- Visa: It’s almost impossible to find a sportsbook in Canada that doesn’t accept Visa deposits. Since its beginnings, this payment method has been around the betting industry and has facilitated safe and quick transactions. One of the biggest perks of using Visa for sportsbook deposits is that it’s not excluded from sign-up promos like some of its competitors.
- MasterCard: One of Visa’s biggest competitors, MasterCard is one of the most widely-accepted forms of payment in the betting industry, and for good reason. It’s an easy-to-use credit and debit card issuer that makes smooth and quick transactions. What’s more, it’s usually accepted as a withdrawal method, too.
- Neteller: Being a Canadian-native provider, it doesn’t come as a surprise that Neteller is available at most Canada-friendly sportsbooks. Neteller’s key characteristics are anonymity, ease of use, and ultra-speed, making it ideal for both recreational and professional bettors alike.
- Skrill: In terms of worldwide appeal, Skrill is right up there with its main rival Neteller. Apart from being able to process sportsbook deposits in a flash, one of Neteller’s biggest virtues is cutting-edge security. It uses state-of-the-art safety protocols to keep hacker attacks at bay, including the latest SSL encryption software.
- Interac: Interac is one of Canada’s most sought-after sportsbook deposit options and its most prevalent debit card system. The Canadian-based financial institution is linked with the biggest bank providers in the Great White North, and via its e-transfer function, punters top up their accounts with ease and minimal fees.
Processing Times, Limits and Fees
All of the above-mentioned sportsbook deposit options are characterized by ultra-fast processing times for both deposits and cashouts. Once you input the necessary details and confirm the payment, the funds will be transferred to your account almost instantly. That goes for every betting site in Canada.
Deposit limits differ from one sportsbook to another. Typically, the sportsbook minimum deposit amount is set at $10, while the upper limit ranges from $5,000 to $10,000, depending on the chosen method and the betting site in question.
Most betting sites in Canada don’t charge any fees for processing deposits, but your banking institution may. There’s nothing to worry about, though, as these are usually only a few bucks.
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