Canada is blessed with a more or less free approach to online gaming and casino gambling, for many reasons. It has been a gambling hub for decades and the offline traditions seem to have been passed to the online generations. Laws and technologies followed, and the payment processing companies as well.
However, even in Canada, choosing the right payment method can be somewhat of a problem because so many nuances are to be considered. Moreover, the new companies enter the market, old companies change their rules and the ever-changing legal landscape adds complications as well.
Gamers from Canada may feel overwhelmed by the abundance of offers and plenty of nuances they have to assess before choosing their preferred payment methods to pay for their entertainment. Hopefully, this overview will be of use to them.
Why Payment Methods Matter
Some gamers look only for Visa-accepting sites, others look for MuchBetter casinos in Canada and others still only prefer cryptocurrency for gambling.
One may ask whether it is even that important because if the payment is legal in Canada and accepted for deposits and withdrawals by the casino site, maybe any payment generally works for real money gambling fun? However, regardless of how convenient ar the payment methods are, each has its own rules, plus casino sites apply their additional rules as well.
Being aware of the banking options and all the rules is crucial for a positive user experience in the long term because if banking doesn’t work properly for the casino, the whole casino cannot work properly. The background of gambling is entertainment and fun, but the eventual goal is to win some real money as a reward. But if the customer cannot deposit easily, has issues when making bets, and is confused about cashout, such a casino cannot be considered high-quality.
One of the main reasons why choosing the right payment method from the very beginning, even before account registration, is so crucial is because some online casinos like to be tricky with their additional rules. For example, casinos offer many payment methods for deposit and withdrawal but few are allowed for both procedures; at the same time, the casino articulates that withdrawal will only be sent to the payment method used previously for depositing.
Another example is when online casinos allow deposits via e-wallets in general, but deposits via certain e-wallets do not qualify for bonuses.
All these cases prove that payment methods should be chosen carefully, as well as casino T&C should be read carefully.
Most Widespread Types of Payment Methods in Canada
There are many various payment processing companies that work in Canada and that are online casino friendly. They include Visa, Mastercard, Interac, Instadebit, iDebit, MuchBetter, Trustly, Neosurf, and others.
To get a better idea of the general payment landscape in Canada when it comes to real money gambling, the methods can be roughly divided into three sections – cards, e-wallets, and facilitators.
Cards are debit, credit, and prepaid cards. Not many companies issue their cards but this option is pretty reliable for all kinds of online payments.
E-wallets are comprehensive and easy to use because no card is needed and all processes are completely online. E-wallets are handy and therefore very popular, they are mobile-compatible and often have official mobile applications. E-wallets have flexible limits and support fast transactions.
Facilitating softwares are among the most interesting because they act like a middleman between online casinos and Canadian banks. The point is that many local banks avoid transactions to and especially from merchants that look like online casinos in fear of risking the safety of funds and data. Facilitating payment methods work as an additional safety shield that makes such payments safe and therefore possible.
What To Pay Attention To When Choosing a Payment Method
When choosing a payment method, the player should not choose it alone, in a vacuum, without considering the rules applied to it by a particular casino site.
Choosing among payment options legal and available in Canada, it makes sense to pay attention to the minimum and maximum transaction limits, currencies accepted, fees, and transaction time. It is also important to check if this payment company accepts payments from merchants that look like casino sites.
Choosing a payment method offered by a casino, it is crucial to look at the minimum and maximum limits, currencies accepted, whether the payment is eligible for bonuses, and whether the payment is available for withdrawals.