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Payment Methods

Writen by Dale Shelabarger

If you want to play at online casinos in Canada for real money, you will need a payment method for moving funds into and out of your online casino account. With more choices for payment providers on the market than ever before, funding your online gambling sessions has never been easier. 

This is especially useful for newly regulated online casino markets.  Payment providers have to deal with a new set of regulations around how they handle online gambling transactions. We will be going over this new information and have reviewed the best casino payment methods that Canada has to offer.

Top online casino payment methods Canada

Online casinos in Canada will accept a wide range of payment methods to make your gaming sessions as convenient as possible. Because of certain local and international regulations, some of the most popular payment processors for general use in Canada might not allow gambling-related transactions. 

We have compiled a list of the payment methods that are widely adopted by Canadian online casino operators. Simply click on one of the ones that you use often and you will be taken to our curated list of the best online casinos that take that payment method. 

Why are casino payment methods important?

Choosing a reliable online casino payment method is very important for anyone who wants to gamble in Canada with any degree of reliability. A good payment method will help ensure that you can quickly and easily add funds to your online casino account whenever you need it. Good payment methods should also be able to ensure that your transactions and more importantly, your money, are kept secure.

Of course, the extra convenience of fast transactions and easy access can understandably raise concerns from players that may be at risk of uncontrollable spending or some other associated issue with problem gambling. If you use a trusted payment method, however, you can have transaction amount limits set or even have a self-exclusion block placed on the payment method on request. 

Types of casino payment methods in Canada

Credit card casino payments

Credit cards need no introduction. From MasterCard to Visa and everything in between, credit card payments in online casinos is one of the most popular payment methods in the world.

Two reasons for this are, of course, their very wide adoption among online casinos in Canada, as well as their lightning-fast transaction times on deposits. Being credit cards, however, gamblers will have to have a separate payment method for withdrawals in addition to keeping an eye on their credit limits and their monthly fees. 

As mentioned, Visa and MasterCard still remain the dominant credit card processors in Canada, although some casinos may also accept Electron, Maestro and Diners Club. 

Debit card / traditional banking casino payments 

For most players that use credit cards for gambling deposits, a debit card is often the first choice for casino fund withdrawals. After all, it is quite difficult to beat the sheer convenience  of traditional banking as every Canadian old enough to play at online casino will have already had  a bank account by that point. 

However, the main issue for players who use debit cards is the issue of transactions getting blocked by the Canadian banks themselves. So, you could make a Mastercard casino payment, but all of the country’s 5 major banks have rules and policies that allow them to block gambling-related transactions at their discretion. 

Notable exceptions include TD Bank (or Toronto-Dominion Bank), which has been actively blocking all gambling-related transactions since they enacted new rules on the matter in 2013. Scotiabank also blocks such transactions unless the casino they are going to is a casino operated by a Canadian provincial regulator – this means casinos like PlayOLG, PlayNow.Com, and Espacejeux. 

Instant banking casino payments

Given the problems that players tend to have with traditional banking, Canadian gamblers have been turning to other sources to fulfill their gambling payments. One of the most popular of these options has been instant banking services.  These are third-party payment processors that serve as intermediaries for your online transactions with online casinos and other online vendors.

Being a Canadian firm, Interac casino payments is by far, the most widely accepted instant banking among online casinos in Canada.  They also boasting excellent service and fast transaction times, due to their Gigadat casino payment processing. Besides this, other popular options include iDebit, Instadebit, and Citadel. 

The general process of using instant banking services for gambling involves you initiating a transaction with the online casino with instant banking as your payment method. To complete the transaction, you will then need to go to your fund source (either a bank or an e-wallet) and transfer funds to the payment processor, which will forward your money to the casino

One of the major benefits of using instant banking for gambling transactions is security.  Having a middleman between your bank and the online casino allows your money to go through while protecting critical information. On one side, your bank (which may automatically block gambling transactions) will only see that your transaction is going to the instant banking service, and on the other, the online casino won’t be able to see your personal banking details as the funds are coming from a third party. 

E-wallet casino payments

E-wallets are also a very convenient payment method for gamblers in Canada, especially as more and more of our daily payments are done for online purchases. Having an account with a casino e-wallet like EcoPayz, Jeton, and MuchBetter will give you an easy and secure hub to make all of your transactions from one easily accessible place, whether it’s for your utility bills or your online gambling sessions. 

As we noted earlier in the article, however, the convenience of e-wallets just might make it a bit too easy for one to add funds to their online casino account. Although e-wallets have a separate balance from that of your bank, using the same payment processor for both everyday transactions and gambling spending might be too risky; we therefore recommend some of the other payment methods  we’ve detailed in the next sections.

Now, you might also notice that we have not mentioned casino payment options like PayPal, Neteller, or Skrill as a valid payment method in this section. The reason for this is that gambling transactions made through all of these payment processors can be blocked in order to avoid the risk of legal troubles.

We will spare you the details of how such a decision came about, but the summary of the story is that PayPal at one point violated the Unlawful Internet Gambling Enforcement Act of 2006 in the US, prompting litigation that forced PayPal to block all gambling transactions in markets that did not have a fully regulated online gambling market, which included Canada at the time. Neteller casinos in Canada and Skrill online casinos would eventually follow in these footsteps to prevent the same from happening to them. 

That being said, you may still find some online casinos in Canada that have the logos of PayPal, Skrill, and Neteller on their website, implying that they take payments through them. However, these payment options are only available to players in some regions.

Prepaid card casino payments

A relatively unorthodox but still effective way to fund your accounts is by buying prepaid card for casino like Paysafecard, Neosurf, Revolut, and AstroPay. They are quite convenient for many Canadians as they can be bought at a variety of retail stores across the country.

One of their standout features compared to other payment methods is their built-in funding limits, which is made possible by the fact that, in order to use a prepaid card, you need to have the money you plan to deposit into your casino account already on hand. This makes prepaid cards a very good option for gamblers who want to rein in their spending and as you can imagine, the popularity of the likes of Neosurf casinos in Canada, are on the rise.

And because you buy prepaid cards from either physical retailers or select online partners, your banking details are kept well away from the actual transaction with the online casino for much better security. 

Cryptocurrency casino payments 

One of the other payment methods that has been rapidly gaining popularity in the online casino space over the last several years is cryptocurrency.

Although it is practically impossible to fully explain how it works in this short snippet. We have covered the subject more extensively in our dedicated crypto casino guide.  The long and short of it, is that cryptocurrency is a set of tokens on an encrypted user-maintained digital ledger that is traded on an online exchange, which gives it a value similar to stocks and bonds. 

Two of the major selling points for crypto to gamblers in Canada is its anonymity (ensuring almost absolute security) and general lack of regulation. Since cryptocurrencies are largely outside the grip of governments, players can make transactions through crypto with little to no worry of it being blocked.

That being said, cryptocurrencies are also known for having an extremely volatile value. Take using Bitcoin for casino as an example, despite being the most valuable and most popular cryptocurrency on the market, it can fluctuate as much as 10% over the course of a single day. Even using alternative cryptocurrency (altcoins) casinos like an Ethereum casino or Litecoin casino, can leave you subject to the same market uncertainty, making investing into crypto as much of a gamble as using it on gambling. 

Wrap-up: What is the best casino payment method?

With all of the payment options available to you, which one do you actually choose? The trick with this question is that there really is no single best answer for everyone. As we’ve seen from the article, each payment method has its own unique quirks that can make it more useful in certain situations.

It is therefore important to consider your personal circumstances and preferences when choosing a payment method to settle on for your online gambling transactions in Canada. As an example, someone who wants fast and easy access to a fund source may find the convenience of e-wallets to be the most useful. Meanwhile, someone who wants to have absolute security and anonymity in their transactions may want to look into cryptocurrency despite the various hoops that one has to go through to actually set it up.

Whatever the case, you definitely won’t find yourself short on choices when it comes to online casino payments in Canada. Be sure to check out our links above for more information on these payment processors as well as links to some great new casino sites that offer them.

 

FAQs

How can I pay for online gambling in Canada?

You can pay for online gambling through a variety of online casino payment methods. From credit cards to e-wallets and traditional banks, online casinos in Canada accept a wide range of these methods so players never have to feel locked out of adding funds to their casino accounts.

Do casinos in Canada accept PayPal?

Most casinos in Canada do not accept PayPal, as they have blocked gambling-related transactions from players in the country. PayPal enforced these blocks to avoid the risk of being litigated in the US (the company’s home jurisdiction) for violating online gambling regulation.

What banks allow gambling payments?

All of the major banks in Canada except for TD Bank allow direct gambling payments in one form or another; however, players will have to watch out for these transactions potentially getting blocked by the banks. It is recommended to consult with your banking provider for their specific rules on this.

Will my bank block my gambling transactions?

Depending on which bank you use, the bank may or may not block your gambling transactions. Certain banks may block all gambling-related transactions in general, while others may only allow transactions that go to certain supported casinos (as in the case of Scotiabank, which only processes transactions going to provincial casinos).

Can I use my debit card at a online casino?

If your bank is accepted by the online casino you are playing at, then yes, you can use your debit card to transfer funds into or out of your online casino account.

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