From online betting with debit cards through to depositing with an e-wallet, there are loads of different ways to deposit and withdraw at online betting sites. If you're looking to find the best banking option for you, look no further - we're going to tell you everything you need to know.
On this page about banking at sportsbooks, you'll see:
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The most important thing to keep an eye on when depositing and withdrawing is your security. The sites we recommend are completely safe, however there are some sites out there that are disreputable, and we would therefore advise you to only gamble at a website we've given the okay to. It goes without saying that as with any website, you should never input any personal or banking details when using a Wi-Fi connection you're unfamiliar with, and never save banking details when using a shared computer.
You should think about the currency you're using to gamble with, too. This is because converting Canadian dollars to another currency, and vice-versa, often incurs charges, which is why most prefer to play at a sportsbook that offers Canadian dollars as an option. After all, why spend money on fees when you could spend it on additional bets?
Depositing and withdrawing is really simple. Just follow the step-by-step instructions listed below…
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Firstly because we have a track record of finding the best online betting site bonuses, meaning that those following our recommendations always get more for their money. We're also known for recommending safe sites that are all properly licenced and regulated.
What's more, it's important to remember that we're completely independent and not owned by any online sportsbook or other gambling website. This gives us the freedom to be completely honest with our reviews - something that makes them far more useful to you.
Credit and debit cards are the most common depositing options at online betting sites, although debit cards probably have the edge as there's no worrying about paying off the balance before the end of the month. VISA and MasterCard are the two most popular credit and debit cards, however all other brands are generally accepted at the best online sports betting sites.
E-wallets are another really popular way of depositing at online sports betting sites. The three biggest e-wallets available to those in Canada are PayPal, Skrill and Neteller, which all allow you to avoid sharing your bank details with the online sports betting site you've decided to use. Whichever method go for, the best online sportsbooks should have you covered.
When you withdraw from a site, you'll usually have to use the same method you deposited with due to concerns about money laundering. All debit cards can be used to withdraw, as can most credit cards, and both of these options are generally also completely free. E-wallets will usually have some costs attached to receiving money, so consider this when making your initial deposit.
All our recommended sites will process withdrawal requests within 48 hours, and some even offer instant withdrawals for those using specific methods. ID will sometimes need to be provided, especially if you're making a large withdrawal or using a different method to the one you deposited with.
So now you know the best ways for you to deposit and withdraw at online betting sites, and you also know the exact process when it comes to adding or withdrawing money at a sportsbook. There's only one thing left to do - head to one of our recommended sites, sign-up and make a deposit!
If you have a question about depositing or withdrawing money, check out the below FAQs. If you can't find the answer you're looking for, feel free to contact one of our friendly team members.
It's generally the case that you will have to deposit and withdraw using the same method, and this is to protect against money laundering. If you deposit using a method not allowing withdrawals, you'll need to nominate a different withdrawal method and will probably have to submit ID documents.
Yes, it is completely safe, providing you follow a couple of bits of advice. Firstly, you should only ever deposit at sites we recommend so you can be sure that they are trustworthy. Secondly, don't input details when on a mobile connection you don't trust.
This really depends on the depositing or withdrawing option you decide to use. Credit/debit cards are generally free to use, however there are some charges attached to all e-wallets. You should also check that the sportsbook isn't charging - something that won't happen at a site we've recommended.
Whether you can use Canadian dollars or not really depends on the online sportsbook you sign up with. You'll be able to see if a sportsbook allows transactions in Canadian dollars when you read through its review on this site. If not, it is quite easy to convert C$ into US$, GB£ or one of the other currencies on offer.
Yes, you certainly can. Just use your mobile device and navigate your way to the banking section of the mobile site or app, then just simply follow the on-screen instructions. Make sure you only ever input banking details when on a Wi-Fi connection you trust though.
When it comes to deposits, you should find that nearly all transactions are instant, so you won't have to wait for ages in order to start gambling. Withdrawals generally take around two working days to give the online betting site time to process the request.
There's not a huge amount more to think about, however you should remember never to save your banking details on a mobile device in case you lose it in the future. Also, never deposit more that you can afford.