Casino Payment Methods: How They Work and How to Use Them
Written by John VolterLast updated: 21/08/2023
With the most trusted casino payment methods, you can safely and securely begin enjoying a real money experience online. This guide will discuss how you can make fast deposits and withdrawals at online casinos and the best casino payment methods.
To get started with real money games, you need to make a secure deposit. By choosing a reliable casino payment method, you will be able to conduct an instant deposit with no added fees! Find out more about payment methods for online gambling in this article.
You will find popular Canadian casino payment methods supported when you access a trusted and licensed casino operating in Canada. Many payment options are available nowadays, from traditional methods like credit cards to digital currencies like Bitcoin. The best thing is that you aren’t restricted to using just one method at an online casino; you can mix and match, depending on whether you’re making a deposit or a withdrawal.
To deposit at the best online casinos, take a closer look at the available payment methods in the sections below, and find out more about each one.
Credit and Debit Cards
You’ll find many different credit and debit cards available at online casinos, providing you with an easy way to make deposits and withdrawals.
American Express
Most casino sites in Canada accept AMEX deposits, and you can also withdraw funds using this card. AMEX card holders can enjoy great rewards when they make payments online, such as travel points and shopping promotions.
Visa
Another great debit and credit card for making online payments is Visa. Since this is a widely accepted payment method, many online casinos accept all types of Visa cards, including prepaid cards.
Mastercard
A great alternative to Visa is Mastercard. The fees with this card are generally lower than Visa, which makes it a better option for most casino operators and players. Best of all, it is widely accepted at Canadian and international casinos.
E-wallets
Virtual wallets allow you to move money around online and make purchases and deposits at participating online merchants. You can also easily withdraw money from your casino account using e-wallet casino payments.
PayPal
PayPal is one of the most respected payment providers in the world. As a player from Canada, you can fund a PayPal account and then transfer funds to the casino account in a matter of minutes. There are no fees incurred, and you will also be able to make withdrawals in Canadian Dollars.
Neteller
If you prefer to use an e-wallet, Neteller is a top choice in Canada. It offers a unique VIP system where you can earn rewards as you rise through the different levels. Neteller offers instant deposits and fast withdrawals and is supported at the best operating sites in the industry.
Skrill
Formerly referred to as Moneybookers, Skrill has become one of the most trusted payment options online. It offers a four-tier VIP program, and you will be able to make free and instant deposits to your favourite casino site.
Ecopayz
With EcoPayz, you can make fast deposits and withdrawals. This e-wallet service is available in Canada, and you simply fund the account using another payment option and then make an instant deposit at your favourite casino site.
Google Pay
With the Google Pay app, you can confirm payments via your Android phone and control your online casino banking using your phone. To use this payment method, you just need to add a valid credit or debit card to your virtual wallet.
Apple Pay
The Apple alternative to Google Pay is Apple Pay. Online casino players with iOS devices can use this payment option and make quick and easy payments without the need to enter any additional financial data.
MuchBetter
This mobile payments platform makes it easy for you to manage all of your casino transactions on your phone. You can confirm payments using the app on your smartphone and withdraw money into your MuchBetter wallet.
Bank Transfers
Aside from traditional wire transfers, there are many casino bank payment methods that allow you to send money directly from your bank account to your casino account without entering your bank details online.
Interac
With Interac, you can make payments at a casino from your bank account without entering any bank details. Interac acts as a third-party financial service, securely moving money between online merchants and your bank account.
Instadebit
A great alternative to a bank wire transfer is Instadebit. With this payment service, you can transfer funds directly from your bank to your online casino account via the Instadebit platform.
iDebit
With iDebit, you can make secure and private payments to the casino site directly from your bank account. Using this third-party service, you can sign into your bank to confirm transactions without entering private bank details at the casino.
Echeck
Echecks are becoming increasingly popular at online casinos. These virtual versions of physical checks allow players to deposit money from their checking account to their casino account using the Automated Clearing House.
Alternative Payment Methods
If none of the above options appeal to you, you can always choose to make a deposit with your phone or use a prepaid card.
Paysafecard
Paysafecard casino payments are made with a prepaid card. You can purchase a card at a retail location or online and can redeem the voucher at an online casino to make an instant payment.
Zimpler
Zimpler is one of the most trusted casino payment methods for those that play on a mobile device. This is a pay-by-phone option where you will link your payments to your mobile phone account to conduct instant deposits. Zimpler provides a simple and secure way to manage mobile casino accounts.
Pay by phone bill
Casino deposits by phone bill have become a popular payment option for gamblers. With this, you can deposit using your mobile phone number. Amounts will be added to your monthly phone bill or immediately deducted from your prepaid balance.
Boku
Boku is another pay-by-mobile method that can be used in Canada. You will be able to deposit to a casino account, and the deposit amount will be added to your monthly phone bill. With this option, deposit limits are in place and are relatively low, usually around $30.
Bitcoin
Another popular online payment method is Bitcoin (BTC). Many online gambling sites are now accepting transactions made with this cryptocurrency. It is a great option for gamblers who want to make fast and private transactions.
Fees & Limits with Casino Online Payment Methods
Plenty of casino payment methods are available, so every player can find something that suits them. Here’s a close look at the fees, average withdrawal times, and minimum and maximum limits each payment method offers.
Payment method
Fee
Average withdrawal time
Minimum & maximum transfer limits
Visa
None
1-3 days
$5-$20,000
Mastercard
None
1-3 days
$5-$20,000
AMEX
None
1-3 days
$5-$50,000
Apple Pay
None
Instant
$5-$250
Google Pay
None
Instant
$5-$250
PayPal
None
Instant
$10-$10,000
Neteller
None
Instant
$5-$50,000
Skrill
None
Instant
$2-$1,000
Bitcoin
None
Instant
No limits
MuchBetter
None
0-3 days
$5-$4,500
Instadebit
$2
Up to 5 days
$10-$100
Interac
None
Instant
$0.01-$3,000
Paysafecard
None
Instant
$5-$779
ecoPayz
1.69%-2.9% of transaction
Instant
$10-$2,000
iDebit
$2
Instant
$10-$3,000
Revolut
None
Instant
$5-$2,000
Boku
None
Instant
Up to $30
How we Assess the Best Online Casino Payment Methods
When we assess the various deposit methods in this guide, we consider a range of factors to ensure that players choose the best payment option for their needs. Some of the things we consider include the following:
Availability at casinos: We consider how widely available a certain payment method is at online gambling platforms. For example, most online casinos accept Visa and Mastercard, whereas fewer accept cryptocurrency payments. Moreover, some options like pay-by-phone methods are accepted for deposits but not as a casino withdrawal option.
Fees: While some payment methods charge no fees for processing payments, others do. E-wallets generally have higher charges for receiving casino withdrawals than credit and debit cards.
Limits: We assess each payment option’s limits so that players can find a method that suits their spending requirements. For example, if you’re a high roller, you may want to use a credit card with high daily spending limits.
Bonuses: You’re more likely to be able to claim bonuses with certain payment methods. We check out casinos to see which payment methods are accepted for popular deposit and match bonuses.
Security: Finally, we always look at a casino payment method’s security features to ensure that your transactions are protected. For example, PayPal’s buyer protection policy is great news for casino players who may accidentally get charged more than they wanted to deposit.
Choosing the Right Payment Method at an Online Casino
Online casino customers will generally have various payment options to choose from for both deposits and withdrawals. So, what do you need to consider when deciding which method to use? Here’s a checklist we’ve put together to help you!
Find out whether you can use the same deposit method for withdrawals. Some casinos only allow you to use one payment method for both deposits and withdrawals, so if you use pay by mobile to add money to your account, you may encounter issues when trying to withdraw winnings.
Check whether there are any bonuses that you can claim with your deposit method. Casino bonuses can increase your account balance and help you win more money!
If there are fees, make sure that you can afford these. Most casino deposit methods have no additional charges, but withdrawals can incur high fees.
If you have privacy concerns, then consider using a payment method that keeps your financial information private. You could use an e-wallet or intermediary online banking method like Instadebit.
For fast online casino payouts, opt for a payment method like Bitcoin or an e-wallet. These payments are usually processed instantly by casino sites.
How do you Deposit Money at a Casino?
If you've never played at an online casino before, then check out our step-by-step guide on how to deposit money for online gambling. From setting up an account to entering information, everything you need to know is below!
Estimated time needed:00:04Tools needed:CasinoGrizzly's recommended casinosSupply needed:Money
Browse our casino listCheck out some of the best casinos on the list at CasinoGrizzly to find a site supporting your preferred payment method. Create an account with the casino.Step 1
Deposit moneyWith a new account, head to the cashier section. Select 'Deposit' and choose your payment method. Enter the amount you wish to add to the casino and all your relevant payment details, then confirm the deposit.Step 2
Play games!With your newly funded account, you can claim bonuses and start gambling! Enjoy!Step 3
What Currency Can I Use at an Online Casino?
When you are choosing the best casino payment methods, consider the currencies that are accepted. Most of the top methods that Canadian players use are internationally used, so you can easily conduct your transactions in Canadian Dollars or use a different currency. As a real money player, you want to ensure your payment method and casino support your local currency.
Some online casinos only accept one type of currency, whereas others may take CAD, USD, EUR, and many more. Recently, a lot of gambling platforms have started to accept digital currencies like Bitcoin since these give gamblers more anonymity and make it easier for them to play at offshore casinos.
How Do I Withdraw Winnings from Online Casinos?
One of the exciting things about playing at an online casino is the ability to win real money. Each casino will have a list of options that can be used for withdrawing your winnings, but the process is similar for all of them:
Go to the casino cashier.
Make sure you’ve completed any bonus terms and conditions.
Select ‘Withdraw.’
Choose your withdrawal payment method.
Enter your payment method details.
Confirm the payout.
Cryptocurrency Withdrawals
Crypto is one of the newest forms of a casino payment method, and it provides the fastest processing. You can set up a crypto wallet, and when you withdraw from your casino account, your money will be sent here. Cryptos are one of the safest ways to receive a casino payment.
E-Wallet Payouts
Using an e-wallet service like Neteller or Skrill casinos will offer a safe and easy way to remove casino funds. The withdrawal amount will be sent to your e-wallet account, and transactions will be conducted in 1 hour to 24 hours. You can also choose between different currencies.
Credit and Debit Card Withdrawals
You may find some Canadian casinos allowing for withdrawals to be conducted using a credit or debit card. There are no fees involved with this, though the transaction may take up to 5 days. Popular cards being used include Visa, Maestro, and MasterCard.
Bank Transfers and Check Payments
If you do not have access to these other methods, one trusted way to receive your casino winnings is through a bank transfer or a physical check. Almost every operating site will offer these two methods, which are the longest to process but also the most secure.
How to Make Fast & Secure Casino Payments
Whether you’re making a deposit or withdrawal at an online casino site, there are a few things you need to know to ensure your transaction and financial details are safe.
Firstly, only make payments at licensed and secure online casinos. Check for a seal from a licensing body on the casino’s homepage and a padlock in the URL address bar. You can also check the casino’s terms and conditions to confirm whether or not it uses SSL encryption for all payments. Safe casino payment methods like Visa and Mastercard always use encryption to protect transactions.
You should also always use your own payment accounts and never transfer money using a card or bank account in someone else’s name. Similarly, you’ll need to provide real identity documents to the casino before withdrawing any money for casino account verification. Gambling sites do this to prevent fraud and money laundering.
If you have any issues receiving your withdrawals, you should be able to contact the casino support team directly. Most casinos offer live chat and email support so that you can resolve any transaction issues swiftly.
Casino Payments for High Rollers
If you’re a high roller who makes large casino transactions, then some payment methods will be better than others. We usually recommend debit card payments if you want to deposit large sums or e-wallets with high limits, such as Neteller.
You’ll usually be invited to join the casino’s VIP program if you are a high roller. When you’re a part of this, you’ll enjoy larger transaction limits at the casino and will usually receive a personal account manager who can help you transfer funds between your bank account and casino wallet. If you transfer large amounts of cash, you’ll also usually enjoy excellent bonus offers, which can boost your winning chances.
Online Betting Payment Methods
Not only can you play your favourite casino games at online casinos, but you can often also make sports bets with the same online casino account.
You may want to use different methods for online casino payments when sports betting. Since many casino operators allow players to make in-game bets, it’s vital that you use a method where you can make instant deposits and withdrawals.
With the above in mind, you should opt for credit and debit cards, e-wallets, prepaid card options, or cryptocurrency like Bitcoin. Avoid bank transfers since these can take a few days to show up in your account.
Browse Casino Payment Methods Today
With some great options available, there are multiple ways for your to manage your real money casino account. With the best casino payment methods, you can enjoy fast and safe transactions and will be able to enjoy the best real money games in the industry! Check out our recommended options and deposit at one of the top online casinos in Canada.
FAQs: Casino Payment Methods
What is the fastest way to withdraw casino winnings?
When making a deposit, all transactions are processed instantly. The fastest payment option for withdrawing will be cryptocurrency. Crypto payments can be completed in under an hour.
What is important to have in mind when choosing a casino payment method?
When choosing online casino payment methods, always make sure you select a trusted and respected service. You will also want to ensure you can use your local currencies and that no additional fees are incurred when making payments.
Which casino payment method is the most secure?
All supported payment methods at an online casino will be secure. Operating sites only use the most trusted and safe options in the industry. Your transactions will be completely safe if you use an e-wallet like Neteller or a Visa credit card.
How quickly can I cash out my winnings?
Always complete the verification process right after opening a new account to ensure you get your payouts as quickly as possible. This eliminates the waiting period when you make your initial withdrawal, allowing you to receive fast payments.
Are there any withdrawal limits at online casinos?
Yes. Each casino will have a minimum and maximum withdrawal amount. This will vary per site. Check these limits if you are a frequent player or enjoy placing high wagers. Most withdrawal limits are weekly or monthly.
Are there any deposit or withdrawal fees I have to be aware of?
When you choose a casino payment option, you will not be charged any additional fees by the casino. Your deposits and withdrawal will be free from any charges. However, your bank or credit card may impose fees when withdrawing.
What is a play now pay later casino Canada?
Some online casino sites let you make deposits over several instalments using payment methods like PayPal. This allows you to make a large deposit and pay it off later.
Do any casinos use PayPal?
Yes, several online casinos accept PayPal as a payment method. To find out whether or not you can make a PayPal deposit at your casino, go to the cashier and check the deposit options.
Do online casinos accept debit cards?
Yes, most online casinos accept debit cards, including prepaid debit cards. Many large name card providers are accepted, including Visa and Mastercard.
Should I use an e-wallet or a credit card?
Credit cards are sometimes better to use since your payment is protected if anything goes wrong and you need to claim a refund. Moreover, transaction rates are usually lower with a credit card. However, e-wallets are great if you want a quick and easy deposit without entering your card details at the casino.
Does my location affect the casino payment methods I can use?
Yes, depending on where the casino operator is based and your location, your payment method options will change. For example, the prepaid card 'Prezzy' is unavailable at Canadian online casinos.
What is the best casino payment method for high rollers?
For high rollers, it's a good idea to use a fast payment method that offers high limits, such as a Visa or Mastercard credit card. You can usually make transactions up to $20,000 depending on your credit limit.
Can I get casino bonuses with all payment providers?
You can usually claim a bonus regardless of the payment method you use. However, some casinos offer special bonuses for players who deposit using a specific payment option.
Why should I use an e-wallet at online casinos?
There are many reasons why it is a good idea to use e-wallets when making online transactions. Firstly, deposits and withdrawals are usually fast. Secondly, you don't need to input sensitive banking or credit card information at the casino website - only your virtual wallet details.
At CasinoGrizzly, John Volter is known as something of an online casino and gambling expert. He has a wealth of knowledge thanks to his 10+ years working in the industry and can answer even the most obscure questions the various online casinos - he knows them all in detail as he has signed up to more than 200+ online casinos.
