Ever since the 90s, Canadians have always seen gambling as a tradition in the country. Now with the advent of online casinos across the world, it is of no surprise that it is hugely accepted by the residents of the North American country. Online casinos are not only popular in the country, but it is also considered as a form of entertainment, and it truly is. Stats show that over 75% of the Canadian popular participates in some form of gambling whether online or offline.
Playing casino games at online casino platforms means that some form of payment method is being carried out. In all online casinos, there are always multiple payment methods being adopted by the platforms in hopes to please its users, old or new. But, what are the most popular payment methods being used by Canadian gamblers when they play games on online casino platforms, and why do they prefer them?
Instant Banking is considered the most popular banking method known in Canada. For this method, gamblers can easily connect their bank account to an online casino platform through the use of third-party companies. It can be used to transfer cash quickly and safely with low charges. Having been carrying this out for over 30 years, Interac was able to become the undoubted leader in Canada with partnership deals with over 250 banks across the country to assure quick and minimum fees. Almost all online casino sites operating in Canada have Interac included in their payment methods according to research. Interac boasts over 15 million active users per month.
Credit & Debit Cards
You can hardly find anyone across the world without having a Visa or MasterCard in their possession, this naturally includes Canada. These cards, which is accepted across the globe, remains one of the best and most popular payment methods in any kind of transaction including online casinos. There are three types of cards being issued to Canadians, prepaid, debit and credit cards. Any of these three can be used to transact cash on any online casino platform. However, you should note that MasterCard doesn’t allow casino withdrawals. Yet it is still one of the popular payment methods.
Electronic wallets have proved to be fast, reliable and easy to use ever since their emergence. Canadian gamblers particularly love this form of the payment system as it serves as a portal between a bank account and a merchant. E-wallets are considered safe and secure because you can easily send funds to your favourite online casino site without revealing the slightest banking information or personal details. While e-wallets companies in Canada are not as many as other countries, there are popular ones available like Google Pay, Apple Pay, PayPal, MuchBetter, and Webmoney.
Cryptocurrency is slowly becoming a traditional name across the world, including Canada. Following its emergence, many Canadian online casinos discovered that it has another function, which is to ensure fast, safe and secure transactions. However, not all online casinos have adopted the use of cryptocurrency as a form of payment due to the volatility of crypto assets. Players who own cryptocurrency won’t have to lose money on conversions and it also offers anonymity and instant withdrawals. Although not all Canadian casinos accept cryptocurrency, the ones that do accepts Bitcoin, Ethereum, Litecoin, and Ripple. This will only continue to increase with time.
Mobile payment remains one of the best methods of payment being accepted in Canada. Mobile payment is quite easy to use, and many Canadians are already used to this form of payment as it can be easily used to pay for services as well as online shopping. Bell Canada and TELUS Mobility are the most popular operators in Canada. While it can be used to make quick deposits, it can’t be used to withdraw funds.
Canada is considered a safe haven for gamblers both online and offline. Due to the legalization of online casinos, the popularity of online gambling in the country continues to climb higher as the years go by. Many online casinos with the intention to draw more Canadian users to their platforms will always offer the best bonuses and suitable payment methods being accepted in the country. Before picking an online casino to play your games, you should always ensure that the platform has your preferred payment method.