There are plenty of banking options that players have when they head to online gambling sites. Here are the most popular you will find.
Are you wondering how to deposit and fund an online gambling account in Canada?
Our guide covers all the ways to put money into an online gambling account, possible deposit problems you might encounter at gambling sites, and tips for resolving deposit issues quickly.
Below, you’ll find guides to banking and laws by region. As always, you should follow the laws in your local jurisdiction. As laws change frequently, be sure to consult a legal professional if you have any questions about the legality of online gambling in your area.
American players have to deal with strict gambling regulations, which means they can’t use e-wallets for gambling related transactions. This means that the most reliable method of making a deposit is to use a credit / prepaid card or a money order at a trusted US-facing gambling site. Cashing out is usually available only via check by courier or a bank wire transfer, and while both methods are extremely reliable, they also take quite a bit of time.
Canada isn’t as strict about gambling as the country’s southern neighbor, which means that Canadian players have access to e-wallet sites. Credit and debit cards can be used as well, though these are limited to deposits only in most online gambling venues.
Australia is yet another lenient country when it comes to online gambling. I’d advise using e-wallets or credit/debit cards for deposits and e-wallets for cashing out. Other methods are obviously also available, but why would you pay for a Western Union or Moneygram® money order when you can have the same service for free? Finally, Australians can use the POLi service, which basically allows you to use your bank account for instant internet banking.
Much like in the case of Australia, players in New Zealand should use a credit card or an e-wallet service for making their deposits, and an e-wallet service for processing withdrawals. What’s more, and again just like Australians, New Zealanders can take advantage of the POLi service if they don’t want to use their credit card.
Most South African gambling sites prefer their customers to use Visa or MasterCard for making a deposit and traditional bank wire transfers for withdrawals, though some sites do allow South African residents to deposit and withdraw using e-wallets.
Indian players should usually stick to Skrill (Moneybookers) when depositing at India-accepted gambling sites, but credit cards and bank wire transfers should also be reliable with most India-facing sites. Just keep in mind that some Indian banks and credit cards don’t like their customers engaging in gambling-related transactions.
The United Kingdom is a very gambling-friendly country, so most options listed in a casino or poker rooms cashier should be available there. In fact, some venues go as far as to support micropayments via your phone bill, as long as you are a resident of the UK. Nevertheless, I’d recommend using an e-wallet or a credit card for making deposits, and e-wallets for withdrawals due to low costs and high speed.
Hopefully, after you gamble online for a while, you’ll have some winnings to cash out. This part of our guide will teach you what you need to know about getting your winnings back to your bank account, where they belong.
Gambling-friendly countries like the United Kingdom make it very easy for players to withdraw their winnings, as e-wallet services like PayPal and Neteller are available to their residents. As a result, cashing out is safe, quick and generally painless – once your e-wallet account has been verified, you won’t be forced to wait for weeks before your money arrives.
Consequently, most sites won’t bother sending you a check by courier (though it is an option at some venues), however, if you want you can usually request a traditional bank wire transfer or even a Western Union or Moneygram® cash transfer if you used one of those services when making a deposit.
Making withdrawals from online gambling sites in Canada are quite standard. You can usually use Visa and in some cases, MasterCard. Debit card transactions, including Interac, can also be used. E-wallets are getting more popular. Of course, there are some gambling sites that use Bitcoin, which is also getting more popular because of how quick it is.
Make sure you check your online gambling site in Canada for its withdrawal options, but Canadian players definitely have many at their disposal.