Best Sportsbook Payment Methods for Canadians in 2025

Online gambling has taken off across the country, with more betting sites in Canada than ever before. A crucial part of online wagering is finding the right sports betting payment methods that work for you. There is a wide variety to pick from, each offering something unique and exciting. In this guide, I'll uncover the top sportsbook payment methods and dive into what sets them apart. Ready? Let's begin!

Bettors tend to have a huge variety of great payment methods to pick from, and it can be difficult to keep track of all the options. Let’s look at some of the most popular payment methods available to Canadian gamblers, and some of the features that set them apart.

Visa

Visa is one of the world's leaders when it comes to electronic fund transfers. Launched in 1958, this multi-billion-dollar corporation stands out as one of the most popular ways to facilitate payment. 

Sports betting with Visa is highly common. Just about every sportsbook out there will accept Visa transactions. Typically, Visa transactions are fast and easy, with low minimum payment amounts and quick processing speed, although it depends on the sportsbook.

MasterCard

MasterCard is a global payment service corporation specializing in transaction processing and credit purchases. It is a powerful company that launched in 1966, rapidly growing to become one of the biggest names in the industry.

It is highly rare to find a sportsbook that does not take MasterCard payments. This is one of the defining options for sports betting on the market, as it has quick payment processing times and low minimums. Many sportsbooks will also accept high maximum transactions with MasterCard.

Interac

Guess what the number one most widely available payment method is for Canadian betting sites? If you picked anything other than Interac, guess again. Interac is a Canadian interbank network connecting financial institutions and other bodies. 

Founded in 1984, Interac is the defining Canadian debit system that allows for quick online transfers. Just about every online betting site will have Interac payments if they operate in Canada. Typically, Interac has low minimum transaction amounts and high maximums, so bettors can deposit at their leisure, and transaction speeds are rapid.

PayPal

PayPal is a wildly popular online payment platform launched in 1998 by Elon Musk and Peter Thiel. It is a major financial technology company that has hundreds of millions of users around the world. However, you won’t find it on most sports betting sites in Canada. 

There are only a handful of Canadian sportsbooks that accept PayPal transactions, but the ones that do have an easy, fast process for payments with high maximum deposit amounts and efficient transaction times.

iDebit

iDebit is an online, real-time payment method that allows people to pay through their bank accounts online. Note that it is a deposit-only option—you can’t withdraw with iDebit. It is an encrypted, reliable form of deposit, and it allows bettors not to disclose their bank account details to sportsbooks and casinos if they so choose.

iDebit has many pros, but some sportsbooks will charge high fees on these transactions or have a large minimum charge to disincentivize users. However, iDebit is still a premier option, even if many betting sites don’t accept it.

MuchBetter

MuchBetter is an e-wallet, a form of digital currency holder, that stores money for users. It is like an online bank account without any fees, making it wildly popular. MuchBetter has been designed to make payment easier and was created with sports betting enthusiasts in mind.

MuchBetter is a very commonly accepted payment option on many Canadian sportsbooks. Some sportsbooks (but not all) attach downsides to e-wallet payment options to discourage their use. There are, however many positives that come from wagering with MuchBetter, including fast transaction processing and not having to go through a bank.

Cryptocurrencies

Cryptocurrency betting has exploded as a rapid form of exchanging that doesn’t rely on any central authority. With decentralized payments, bettors can rely on faster processing times and less limitations, as there are less parties to go through. 

A huge range of crypto options are accepted by sportsbooks, including Bitcoin, Litecoin, Ethereum, and more, with the options differing by website. While many licensed sportsbooks don’t accept crypto, there are many offshore operators that primarily deal in cryptocurrency.

InstaDebit

InstaDebit is very similar to other e-wallet options in that it allows users to transfer money from their accounts without having to go directly through a bank. This is a relief for bettors who don’t feel comfortable putting their account information on a sportsbook. 

InstaDebit is one of the most widely used payment methods on sportsbooks, largely due to its security and capacity to handle a ton of transactions. The minimums and maximus for InstaDebit differ according to the sportsbook, with some charging fees as well. In most cases, InstaDebit will permit high maximums.

Paysafecard

Many e-wallets have managed to carve out a significant market share, but few can rival Paysafecard. Safe, easy, and fast, Paysafecard allows users to store currency on an online wallet, without any of the hassle of having to deal with a bank or a bank account.

Paysafecard was designed to facilitate transactions on sportsbooks and casinos, and make everything as straightforward and efficient as possible for bettors. Be warned, it is a low-limit card, meaning you can’t add a ton to your Paysafecard at one time. It is a major brand that is now accepted on many sports betting sites in Canada.

Apple Pay

Millions of people across Canada are iPhone users, and Apple is constantly innovating to try and make the iOS experience better for users. Apple Pay is a way for these users to add their credit or debit cards to their iPhones or Apple laptops for rapid transactions. 

Apple Pay allows fast, efficient payment times for users, and it is typically safer to use then a normal credit or debit card, as they don’t share data with merchants. It is also fast because bettors need only their fingerprints. While many sportsbooks haven’t implemented Apple Pay, many have caught on and allow Apple Pay transactions.

Payz

Payz, previously ecoPayz, is a global payment solution that enables bettors to send money from an e-wallet. Payz allows gamblers to store more than fifty different currencies in their digital wallets, and transactions don’t need to go through a bank.

Payz has managed to become the digital wallet of choice for many betting sites, with several sportsbooks serving as merchants that accept these forms of transactions. Payz has a very straightforward user interface, and sportsbooks typically don’t charge a fee to use it. In addition, Payz boasts low minimum deposit amounts and high maximums.

Neteller

Neteller is a virtual payment intermediary that serves as a digital wallet. This is a Canadian enterprise that has managed to carve out a big role in the online payment space via their e-wallet solution. 

While there are a lot of upsides with Neteller, it is worth noting that there are also fees charged on this e-wallet, and many sportsbooks will not allow Neteller transactions to be bonus-eligible. Still, the convenience and ease of use that this e-wallet provides will make it worth the hassle for many. It is accepted on several prominent betting sites.

Neosurf

Neosurf is an anonymous prepaid voucher system that enables users to make online purchases without the need for a bank account or credit card. Users buy a Neosurf voucher from an authorized seller and receive an associated PIN, which they can then use to deposit on betting sites.

Neosurf is a great option for gamblers who want fast, efficient sports betting payments. It is worth noting that Neosurf is not for withdrawals; instead, it is only for processing deposits. Still, this is an option that is highly popular with gamblers thanks to its anonymity and the fact that it doesn't require a bank account or credit card.

Skrill

Skrill is a virtual wallet service that allows gamblers to both send and receive money. This is a huge digital service that has both a website and a mobile app, and allows gamblers to make online payments, purchase and sell cryptocurrency, and much more.  

Skrill offers global services, so gamblers around the world will be able to make deposits and withdrawals with this digital wallet enterprise. And, importantly, many online betting sites have seen the impact of Skrill and accept it as one of their banking options.

Despite the vast number of payment methods available to gamblers, it may seem that the top betting sites only utilize the same 3-6 methods. Why is it that sports betting sites tend to accept options like Visa, MasterCard, and Interac, but many do not include options like Skrill, Neteller, PayPal, and Cryptocurrency?

The fact is that licensing often dictates the kind of payment methods that will be available. For example, if you are based in Ontario and looking to use an iGaming Ontario sports betting site, then chances are, your payment method options will be limited.  

Ontario licensed sportsbooks do not allow for cryptocurrency betting, and the number of available e-wallets often tends to be highly limited, as well. However, licensed Ontario sportsbooks are also far likelier to have Apple Pay and PayPal available. 

Offshore sportsbooks, on the other hand, will very rarely have Apple Pay and PayPal, as these payment methods typically block offshore gambling site transactions due to reputational and regulatory concerns. But crypto betting and the usage of different e-wallets are much more common on these offshore operators. 

Before you choose a deposit method, you must be satisfied that it suits your particular needs. Start by visiting the cashier section on your chosen site to find the information you need.

1. While most bookmakers in Canada process deposits instantly, methods such as bank transfers and eChecks can take longer.
2. Make sure that you check the minimum deposit requirements, particularly if you are planning on claiming a welcome bonus.
3. Read the terms and conditions to ensure that your deposit meets the requirements.
4. Some bookmakers charge a fee for making deposits by certain methods, so check out the T&Cs before parting with your hard-earned cash.
5. Online security is also an important consideration when you are betting online, so make sure that the sites you visit use the latest SSL encryption technology. This keeps your personal details safe and gives you peace of mind that all your payment transactions are completed in a secure manner.

Withdrawals are a pivotal part of the online payment experience because once you've earned some winnings, you are going to want to take out your money. Withdrawal times vary between different bookmakers, although most generally work to a 3-5 day timeframe to credit winnings back to your account.

The majority of sites require you to make withdrawals by the same method as you deposited, so make sure you are happy with this before making a payment.

E-Wallets are often the quickest withdrawal method, with some bookies completing transactions within 24 hours via the likes of PayPal, Neteller and Skrill.

Crypto transactions can be instant. Because of the lack of a need to go through a third party, these withdrawal transactions can happen within a minute.

Debit and credit card withdrawals usually adhere to the 3-5 day average, although some sites manage to process payments more quickly.

Bank transfers and checks usually require you to wait the longest for your funds, with 5-14 days often quoted by Canadian bookies for these options. It is also worth noting that many betting sites have pending periods where you can change your mind and cancel the withdrawal request. This is usually between 24 and 48 hours.

Another important thing to note is the impact of KYC rules. Many betting sites require identity verification for users, at least for their first withdrawal. This will require you to send in government-issued identification to verify your identity and age when withdrawing. This typically adds several days to the withdrawal time.

Most online bookmakers are completely safe to use and have built up an excellent reputation during the time they have been operating. Whether you are planning to use an established company or one of the newer sites, check out the reviews at BettingTop10 to find all the information you need.

Look for sites that hold a current operating license issued by a known gambling authority, such as the Kahnawake Gaming Commission or iGaming Ontario, which is your safest bet. For offshore firms, licenses from the UK Gambling Commission and the Malta Gaming Authority point towards a site being trustworthy.

Make sure that your chosen site offers plenty of ways to contact them - the ones that have something to hide often only offer a web contact form. A big choice of payment options is also a sign that it is safe to deposit, as reputable payment providers are generally reluctant to work with untrustworthy brands. Avoid any sites that don’t use the latest SSL encryption technology as this indicates that they don’t take keeping your details secure seriously.

You may have some questions about the top sports betting payment methods and the operators that accept them. Let’s go over ome of the most frequently asked questions about this topic.