Which Are The Most Popular Payment Methods In The Canadian Online Casinos
There has been a steady increase in the popularity of online gambling in Canada, and it is now widely recognized as one of the country’s most successful sectors. To help you along the way, we’ll look at the evolution of online gambling in Canada and the most common ways Canadians make deposits and withdrawals at online casinos. Although only some are aware of it, online casinos have been available in Canada since the early 1990s, with the first appearing in 1994.
While the internet was still in its infancy, these early prototypes tended to be clumsy and sluggish to load, which meant that casino game sites weren’t prevalent. Before stepping into any casino you can check the best casino online reviews for it and then opt for the best payment method.
Canada’s Online Gambling Payment Laws
Canadian online casinos are subject to the same rules and regulations that apply to the rest of the gambling industry worldwide. Since 2009, Canada’s federal government has allowed each country’s provinces to establish its regulations. Thus this, too, is subject to constant revision and update. As it is, with technological developments, Canadians can play at any offshore online casino.
Yet, a few Canadian provinces have authorized online casinos to serve their residents. Because of the rapid development of technology, this is no longer true of Canadian online casinos, which have kept up with the times and introduced a variety of exciting new features, all of which have been approved by Canadian financial institutions for their players to explore.
To help you make an educated decision the next time you’re ready to process a payment in Canadian dollars at your preferred virtual gambling outlet that goes beyond the traditional bank wire, we’ve taken a closer look at the best online casino payment methods in Canada out there and highlighted the pros and cons of each method. The following methods can be used to deposit funds and withdraw funds:
Debit and Credit Cards
Credit and debit cards issued by well-known companies like Visa and MasterCard are widely used to deposit money into online casinos in Canada. Because most Canadian adults already have one, using them is convenient and doesn’t need signing up for any other services. Regarding safety, this technique of depositing funds into your Visa casino account is among the best.
Electronic check (or cheque!) processing (abbreviated as eCheck) is another common way to fund your online casino account. This service works similarly to a paper check, allowing you to quickly and easily make payments to internet retailers like Canadian online casinos.
One of the most common ways Canadians fund their online casino accounts is using Maestro, MasterCard’s debit card service. This leading payment method processes over 23 billion transactions annually and is widely regarded as fast, dependable, and, most importantly, secure by its millions of users across the globe, not just in Canada.
PayPal is also often used as a deposit and withdrawal option at Canadian online casinos. PayPal is another popular e-wallet option, recognized by tens of thousands of online stores and gambling sites worldwide.
Skrill, formerly known as Moneybookers, is another popular option for depositing funds at Canadian online casinos. Skrill is an electronic wallet that enables users to send and receive money online with low or no transaction fees, making it ideal for online gambling deposits.
The most well-known cryptocurrency, Bitcoin, is the topic of our following payment option discussion for Canadian online casinos. It is one of the quickest and most convenient ways to move and handle payments online, contributing to this digital currency’s rise in popularity over the past couple of years. Bitcoin’s huge benefit is that it can do the same function within a few minutes, nearly in real-time, whereas traditional payment methods can take a few days or more to process.
Zimpler, launched in Stockholm, Sweden, in 2012, was initially developed as a mobile invoicing system known as PugglePay. The company rebranded as Zimpler in 2016 after developing into an immediate payment provider.
Neteller, a Canadian company founded in 1999, is another of the most trusted methods for making online casino deposits. Neteller has always been at the forefront of facilitating international online gaming transactions; today, online gambling accounts for roughly 95% of the company’s global sales.