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Online Gambling Sites Canada / Online Betting Payment Methods 2024

How to Pay a Bet? With The Legit Betting Payment Methods 2024

Most Famous Bookmaker Payment Methods Online 2024

Last Updated:
20/02/2024
Experiences:
Multi-sports fanatic and betting expert

Have you ever taken time to think about how your choice of payment methods affects your online privacy and overall betting experience? Thus, we’re here to tell you about the best online betting payment methods and what they’re good for.

For example, here you’ll find out why PayPal betting is better for your online privacy than using your bank card directly, and why e-wallets usually get your faster payouts from the best betting sites Canada and casinos. Additionally, we’ll cover crypto betting sites and the advantages they offer.

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Best Betting Payment Methods

If you’re still part of the old guard that has yet to venture beyond making online payments using your credit/debit card or bank account, then it’s understandable that you might be flummoxed with some of the payment options available in your online bookmaker or casino account today. You might be thinking asking yourself, “can all of these payment methods be trusted?” – As long as you’re on a fully licensed and legit site, the answer is almost always yes!

Not only are alternative payment methods legit, the reason they are there is because they offer better alternatives to paying with your bank directly. PayPal was the trailblazer of online payment methods in the late 90s and early 00s, and continues to be to this day. However, here in Canada, we have our own alternatives, such as iDebit and Instadebit. Head to our payment methods and reviews to find out why such payment methods are so much safer than paying directly with your bank card.

Average Processing Times for Online Betting Payment Methods

Payment processing times vary depending on the method you use, however in 2024 deposits are almost always processed instantly. After all, betting sites naturally want your money as quickly as possible and you want to get playing ASAP, so it benefits both parties. When it comes to withdrawals though, you’ve probably noticed that things are a little slower, especially when using bank transfers.

Fortunately, modern payment methods offer quicker withdrawal times, with certain e-wallets getting your casino payouts processed within two to three days – some even instantly! The speed of the processing times also depends on the betting site operators processing terms and conditions as well, but if the payment method you’re using cuts down the time, that’s more than half the battle done.

Bookmaker Payment Methods – Verification

Again, something that can differ from payment method to payment method. With some payment providers and services, you will be able to create an account, move certain amounts of money or use certain services without being fully verified. However in order to get the most out of the payment methods, and for your own online security, you will always need to get verified eventually. What a lot of payment providers ask for, much like betting sites themselves, is a proof of identification and residence. When it comes to providing proof of your own ID, your driver’s license or passport will usually suffice. For proof of residence, a utility bill, bank statement or equivalent will do. These have been long -standing verification requirements in the banking world, however the online sphere is making this process easier and quicker.

Online Betting Payment Methods – Our Editor’s Recommendation

Outside of Canada, PayPal still probably tops the charts on balance – there are faster and more efficient services out there, but they don’t have the track record or customer service of PayPal. Here in Canada, however, we do have two strong competitors to PayPal – iDebit and Instadebit. And you know what, the two are so neck and neck we simply can’t pick a winner between them – both are fast, efficient, low fee and don’t share your financial or personal info with the merchant.

Bookmaker Payment Methods FAQ

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

In the majority of cases, yes – or at least it makes life a whole lot easier. Some payment methods, including prepaid cash cards like Astropay can only be used as deposit methods on some sites, therefore you can deposit with the cash card and withdraw to your bank account.

Can I use a payment account that’s in a different name to my betting account?

That’s almost always a no – so if you were thinking of using your partner’s bank account to make a deposit, think again.

Why didn’t my deposit go through?

There could be a number of reasons, first check with your payment provider, and if they don;t have the answers contact the betting site customer service.

Why did my account get blocked?

Did you read the terms and conditions before signing up? If so, you shouldn’t need to ask this question. Contact the customer service if this happens and you don’t know why.

Can I get a bonus with my preferred payment method?

Generally speaking, the majority of payment methods are compatible with your bonus offer, however some casinos may have exemptions – so check the bonuses terms and conditions before depositing.

Summarizing the Best Bookmaker Payment Methods

Some payment methods may suit some more than others, however there are some definite frontrunners in our eyes – which you can find in our various payment method reviews here at Betastic.com. If we can leave you with one piece of advice – ditch paying with your credit/debit card directly and switch to an e-payment service provider, that way your online security is already more certain.

Online Betting Payment Methods FAQ

💵 How do I pay for online betting?

There are various ways that you can fund your online betting account – and the answers differ greatly from betting site to betting site. Some sites only have a small selection of options, while some have almost countless. Find our top ranked list of the best betting online payment methods right here at Betastic.com.

💳 Do betting sites accept credit cards?

The modern gambling world online has so many payment methods available that you might think credit and debit cards are becoming a thing of the past here. But with these payment methods still being used in our everyday life, can we also use them to deposit into our online bookie and casino accounts? We’ve investigated – click here for results.

🎰 Can you use PayPal for online betting?

PayPal is a popular payment method for well, just about everything really – it’s been around since 1998 for Pete’s sake! But does this Silicon Valley phenomenon extend its service to the online betting world? We thought it might in some cases at Betastic.com, which is why sent out our experts to find out and test the best sites right here.

Top 5 Sites For Payment Methods

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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