One of the most convenient methods for funding online gambling accounts is no longer available to Canadians.
Skrill (Moneybookers) announced in December 2013 that it “has reached a decision to cease processing gambling payments in Canada.”
This was a big loss for Canadians who prefer to do their sports betting online. Skrill was easy to set up and use, limits were high, fees were low and it was accepted by top books Pinnacle Sports and Sport Interaction.
However, there are still many reliable and even convenient ways to make gambling payments in Canada. Here’s a look at your options:
Instadebit
Accepted by Pinnacle Sports/em>
You never have to fund your Instadebit account before using it to transfer funds to a sportsbook. When you open an Instadebit account you will attach your Canadian bank account and they will assign you a weekly transaction limit. Then you can instantly deposit into your sportsbook account up to your weekly limit and the money will be transferred from the bank account within a few days. (Instadebit will do a credit check when you signup to make sure you can cover your sportsbook deposit)
Credit cards
Accepted by Pinnacle Sports, Sports Interaction, Bodog
Credit cards would definitely be the easiest way to fund your sportsbook account, but there are two main issues with this form of payment. First, studies have shown many people are not comfortable with using their credit card to shop online, even if the site features encryption and their connection is secure. Second, certain banks do not allow their customers to use credit cards to fund online gaming accounts.
iDebit
Accepted by Pinnacle Sports, Sports Interaction
iDebit is fast, cheap and safe. iDebit basically serves as an intermediary between your bank account and the merchant (in this case, sportsbook) so that your banking credentials are not shared with anyone. In other words, it’s like Interac, except you’re using it online instead of at the gas station or the mall. Payments are completed in real time, so you can begin betting with your sportsbook account as soon as you send the money. It costs less than $2 to use iDebit to send money from your online bank account, and it’s free to send money from your iDebit balance. Best of all, iDebit is compatible with any of the major Canadian banks.
Ukash
Accepted by Pinnacle Sports, Sports Interaction
Ukash requires a little bit more work on your part, but it also offers the most user anonymity. Instead of sending money from your online account, you can go to one of the 420,000 store outlets world wide that accept Ukash and exchange money for a unique 19-digit Ukash code. You can then use that code to spend or send money online instantly, or even load prepaid cards and e-wallets. Hey, if you’re looking to pay for something that requires a little more (ahem) discretion, this might be the way to do it as well. We’re not here to judge.
Entropay
Accepted by Pinnacle Sports
Entropay is basically a pre-paid Virtual Visa card that you can then use like a credit card anywhere that Visa is accepted. Though it is associated with Visa, Entropay can be funded by all major credit cards. You can also use your debit card to load up your Entropay account. The only cost to using Entropay is when you fund it or receive money to it.
Interac e-mail transfer
Accepted by Bodog
Who among us hasn’t used Interac e-mail transfer to send money to friends? It’s quick, easy and cheap (most banks charge $1 for the transaction). If you select the e-mail transfer deposit option at Bodog, the sportsbook will provide you with an email address, name and password to send your e-mail transfer to, just like you would send money to your buddy. We hope to see other sportsbooks adopt this funding method in the near future.