Esports bookmaker payment methods

An important aspect when betting online is payment methods. Factors to consider include security, privacy, speed and convenience. All payment methods on this page all have their pros and cons. We will go through the most critical features of each and help you choose between all the different bookmaker payment methods available.

Most secure bookmaker payment method

We have singled out Trustly as the most secure bookmaker payment method. While one could argue that Bitcoin as a payment method is more secure, there are additional aspects to consider when it comes to Bitcoin wallet providers and such. Trustly works out of the box as long as your bank support it and you’ve found a Trustly bookmaker that you like.

Why Trustly stands out as the safest bookmaker payment method is because you don’t have to enter your financial details. During the deposit or withdrawal process to or from the bookmaker, Trustly will re-direct you to your bank so you can log in to your bank account. From your bank account, you authorize the payment. Transactions with Trustly are fast as well, making the payment solution secure, fast and convenient.

Withdrawal times at Canadian Bookmakers

Withdrawal times are highly subjective to the bookmaker you use, what payment method and, in some cases, your bank. With that said, there are faster and slower methods of withdrawing money from your esports bookmaker account. All bookmakers know that punters want to receive their money as soon as possible after hitting the withdrawal button.

With fierce competition between bookmakers comes excellent solutions. Withdrawal and processing times are getting increasingly reduced. Generally, you won’t have to wait longer than up to 48 hours regardless of what payment method you use. Some payment methods, such as Bitcoins, are almost always instant, while Visa or MasterCard can take up to 5 days. Below is a summary of typical timing for different withdrawal methods:

Credit/Debit Card – generally two to five business days
Cryptocurrency – within minutes up to a few hours
eWallet – within minutes up to 48 hours
Wire Transfer – usually takes about four to six business days

Withdrawal fees

Bookmaker withdrawal fees are a thing of the past. Rarely will you deal with a Canadian bookmaker that charges you a fee on transactions. However, fees when making a transaction to or from a bookmaker is not uncommon. The fee doesn’t come from the bookmaker though, it usually comes from the payment solution and/or your bank. It’s common practice that banks charge small transaction fees on card payment online, for example. Wallet providers may charge you a fee when you withdraw money from your wallet to your bank account and so on.

If you are worried about hidden fees, we would suggest that you check with the payment solution and/or bank you are using.

Different payment methods

As you will be able to read in our in-depth bookmaker payment methods reviews, each bookmaker has its benefits and drawbacks. All payment methods on our page are used to process money to or from your esports bookmaker account. Are you looking for convenience? Do you need to withdraw money fast? Are you worried about security aspects or giving out personal details? These are questions to ask yourself before picking the right bookmaker payment method.

Trustly

We already highlighted Trustly as our pick for the most secure payment method. In our in-depth review, you can read more about using Trustly when betting on esports online in Canada. What can be said in short is that Trustly is a rather new but very well-respected payment provider in the betting industry. Trustly is widely used in Europe and is slowly getting more and more traction with Canadian banks and bookmaker sites.

Payment processing times are quite fast. When you deposit money, it’s instant. When withdrawing, it takes a bit longer. Your money will often be credited to your bank account within minutes. In some cases, it can take up to 48 hours for the funds to arrive in your bank account.

Visa/Master Card

Visa or MasterCard? Which card do you have in your pocket? It’s not uncommon that you might have both? Which one should you then choose? In all honesty, Visa and MasterCard are identical. The only difference is the logo of your card. What matters is your bank. Different banks have different fees, costs, benefits and rewards.

One thing that’s great with using your Visa or MasterCard is the level of convenience. 99% of everyone over 18 in Canada has their bank account and most likely a Visa or MasterCard. You don’t need anything besides that, really, unless you haven’t activated online payment and payment authorization through a security device, mobile application or texts. Most of you have that already. All you have to do is go to the bookmaker payment method section, pick Visa or MasterCard, enter the details you are asked for, and then authorize the payment through your bank.

Bitcoin

All hail the marvel of technology and digitalization, cryptocurrencies. And most important, the default crypto, Bitcoin. Making deposits and withdrawals using Bitcoin is incredibly easy once you have chosen a Bitcoin wallet to use. When you either deposit or withdraw, all you need is your Bitcoin wallet code. Transactions are instant.

The major drawback with Bitcoin is its volatility as a currency. It’s not uncommon to see 20% fluctuations in Bitcoin price over short periods. As such, many bookmakers are hesitant to add Bitcoin as a payment method. However, the demand has created a need for it, and many Canadian bookmakers are today handling Bitcoin payments.

Paysafecard

Prepaid cards are maybe not the first payment method on your mind. If you want to use prepaid cards, however, then Paysafecard is what you should use. It’s arguably the most widely adopted prepaid payment method in the world. Thousands of retail outlets across Canada sell Paysafecard, which you can purchase with physical cash over the counter. Then you use the PSC pin codes to deposit in any of the numerous Paysafecard bookmakers available on the market. With Paysafecard, there’s no need to enter financial details when depositing or withdrawing. All you need is the PSC pin codes and a Paysafecard account if you plan to withdraw using PSC.

FAQ Bookmaker payment methods in Canada

Do I have to use the same deposit and withdrawal method?

It’s preferable to use the same method to deposit and withdraw if you are given the option. It’s faster and more convenient. However, you don’t have to. It can also be the case that you can’t. Some bookmakers don’t support withdrawals for specific solutions. For example, a bookmaker may accept Trustly deposits but not withdrawals.

How long does it take bookmakers to pay out money?

As a general rule of thumb, bookmakers state that a withdrawal request may take up to 48 hours. Most often, it doesn’t take that long. Usually, payments is processed within 24 hours. Some payment methods are faster than others. Wire transfers are an exception as it often takes longer than 48 hours, up to 6 business days.

Does Canadian bookmakers accept debit cards?

Yes, debit and credit cards such as Visa, MasterCard and Maestro are accepted in almost all bookmakers. Although more effective payment methods available on the market, debit or credit card payments are the most popular forms of payment.

Can a bookmaker refuse to payout my winnings?

They can refuse if there are reasons for doing so. If you are a law-abiding citizen who hasn’t participated in any illegal or fraudulent activities, then you’re safe. If you bet by the rules, so to speak, then the bookmaker won’t refuse to payout.

Summary

We hope this page gave you an adequate amount of information to decide which out of all bookmaker payment methods to choose. If you need to learn more, you can look at our in-depth payment reviews, which goes a little deeper into each payment solution commonly offered in Canadian bookies.