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Canada Sports Betting Banking Options

These are the top sports betting sites if you live in Canada.  To deposit and withdraw funds to and from your betting account, you’ll use one of the banking transaction options listed below that are available Canadians.  I outline each of these banking options below so you can select the right one based on your own preferences with regard to ease of use, accessibility and transaction size.  Please note that if you are curious about using Paypal to fund your sports betting account, unfortunately Paypal does not process transactions to online betting providers for Canadians, whether in CAD or any other currency.  If you are looking for a similar solution, there are several listed below.  Beneath the explanation for each banking option, view the options accepted at each recommended betting site.                 

Credit Cards and Debit Cards are accepted by every site in my list.  You should be aware that all Canadian credit cards treat transactions with online betting services and gaming services as cash advances, not as purchases.  This means that interest will accrue on the transaction from the date of your transaction.  While this might be good for when you first sign up as you no doubt have a credit card readily available, it is advisable that you sign up with one of the e-wallets, bank debit or other secure transaction services below so you can save on interest charges. Debit cards simply debit your account and no interest is involved.  Even if your debit card does not have the logo, it likely can be used anywhere Visa or MasterCards work.

BillPay is simply the ability for you to make a payment through your online banking profile.  Simply logon to your online banking profile and create a payee with the name and details of the associated sports betting provider.  If your betting provider accepts this method, they will provide you with the explicit details for payment from within your account.  If you make a payment before 3pm of a given business day, your payment will arrive the next business day for use in your betting account.

E-Cheques are simple and secure online payments to transfer money to and from your bank account quickly and securely.

UseMyFunds is secure, convenient and easy to use. It works with your existing online banking service, and there is nothing to download or install on your computer. Simply select UseMyFunds as their deposit method and you can then pay using your online banking service. You will receive an instant notification that the payment has been processed, just as you would with any other online payment method.  Plus you can set daily, weekly or dollar amount thresholds.

EcoCard lets you send money securely independent of your bank account and without any sort of credit application.  The EcoCard is a physical card that you register for and use anywhere MasterCard is accepted.  You have total control over what is spent because you can only spend what is loaded onto the card.  Load funds from your bank account or another credit card.  This method would also save cash advance fees on your credit card.  

Paysafecard is also a similar to a gift card where you may buy in amounts of  $10, $30, $50 or $100 each with a unique 16-digit PIN.  You may combine up to ten cards for payments up to $1,000.  

iDebit facilitates inexpensive online banking transfers.  Move money to and from your iDebit account with your Canadian bank account up to a limit of $1,000 per transaction.  Fees to move money using iDebit are around one or two dollars per transaction. Creating your account is free and allows mobile payments.

Instadebit essentially works like an online cheque.  You don’t fund an Instadebit account from another funding source as it is NOT an e-wallet.  You use Instadebit like a cheque to create a link between your bank and your merchant of choice.  Simply register with Instadebit, verify a bank account and then at your chosen betting site simply sign in and approve a transfer.  Transaction limits with Instadebit tend to be in excess of $10,000.  Transaction fees with Instadebit are about one or two dollars depending on the type.  Instadebit also allows you to pay easily with your mobile.

Interac Email Money Transfers are very popular.  You may access Interac transfers in your online banking profile from any major Canadian bank.  The Interac-set limit for transactions is currently $3,000.  Funding your account with this method is as simple as sending an email.  This is a great banking option to use as it is so fast, likely already at your fingertips and the charge to send money is usually little more than a dollar.  For more information find, read about Interac betting sites.  

Bank Transfers are also accepted by every site in my list.  There is nearly no limit to the amount you can deposit or withdraw when using this method (though the betting site may have its own withdrawal limits).  To deposit, each site will provide you with a reference number and account details.  You will provide these to your bank so the funds can be attributed to your account.  Generally this will take 2 to 3 business days.