Some years ago, you could only play a casino game by visiting a gaming house. But thanks to the rapid advancement of technology, you can comfortably play any game you want from the comfort of your home.
Technology has also influenced the transfer of funds in casino games. Because of advanced payment methods in virtual gambling, people no longer carry huge amounts of cash; you can move thousands of dollars in seconds without any paper trace.
In Canada, the online gambling industry is worth over a billion dollars, and there’s a great need for quality payment methods that’ll allow people to transfer money safely and swiftly. After all, one of the major reasons online casinos were invented was to provide people with a safe and comfortable way to gamble.
If you’re looking a fast casino for yourself, professionals like Michelle H. Thomas can help you through. Thanks to her years of experience, you’ll get quality tips and updates on the best paying online casino Canada offers.
Here, we’ll look into the fastest payment methods for Canadian online casinos in 2022. But before you start playing at the casino, you should always remember the rules of Responsible Gaming, which will help keep you away from addiction. For all lovers of gambling, our experts have developed an interesting Quiz to test casino skills to see how ready you are to play in an online casino.
Fastest Online Casino Payment Methods in Canada
Here are some of the fastest payment methods available to Canadians who play at internet gambling houses.
1. Credit and Debit Cards
In addition to being one of the fastest payment methods, it is one of the safest and most trusted. Popular debit/credit cards like Visa, Mastercard, and Union Pay have spent millions on encryption technology to prevent hackers from breaching.
Debit/credit cards are usually connected to bank accounts, and transfers are done in minutes. Another major benefit of this method is that it’s accepted in every online gaming portal in the world. They are also very easy to use and offer bonuses from time to time.
An electronic wallet is a form of an electronic card that lets you make transactions online using a smartphone or computer. You can also store money in your e-wallet; it doesn’t necessarily need to be linked to a bank account.
The transactions are fast and secured, and unlike the traditional debit/credit cards, most electronic wallets offer fee-less or low fees transfer.
Over the last decade, e-wallets like PayPal, Neteller, Skrill, and Trustly have become immensely popular. Statista reports estimate that by 2023, there’ll be 1.31 billion users making e-wallet transactions worldwide. PayPal is Canada’s most used electronic payment method, and most online casinos accept it.
Cryptocurrency’s market size hit an impressive $1.49 billion in 2020, and analysts have projected it to reach $5 billion by 2030. There’s seriously no stopping cryptocurrency now. It’s fast, secured, and anonymous. Despite initial misconceptions about the technology, many industries, including mobile casinos, are now incorporating it into their systems.
You can complete a cryptocurrency deposit and withdrawal in seconds, and since it works on a decentralized system, you don’t need to register with any government ID before making transactions. Popular cryptocurrencies like Bitcoin, Litecoin, USDT, and Ethereum are now accepted in many online casinos.
4. Banking Portals
Banking portals serve as a bridge between your virtual gaming account and banking account. You can easily and swiftly deposit or withdraw money whenever you please. Some of Canada’s most common banking portals include Interac, iDebit, and INSTADEBIT.
Though they are not as fast as debit/credit cards, e-wallets, or cryptocurrency, they are still faster than bank wire transfers. Plus, they offer almost the same security as wire transfers, making them one of the best online casino payment options for Canadians. Most bank portals will complete transactions in hours, but sometimes, it might take up to 1 or 2 days.
5. Prepaid Cards
You can acquire a prepaid card if you’re not comfortable using your debit/credit card or e-wallet for casino gambling. They are only temporary and can be used to make fast deposits. Another benefit of this payment method is the anonymity that comes with it.
You can purchase it in your local currency anonymously and use it on your gambling account. Just input the 16-digit code and start your transactions. Neosurf, Paykasa, Boleto, AstroPay card, and Paysafecard are some of the most common vouchers and prepaid card providers.
6. Bank Wire Transfers
Bank transfer is one of the oldest and most respected casino payment methods. Even when the casino gambling industry decided to go online, they still maintained bank transfers as a valid payment method.
They don’t require third parties, and transactions are between your bank and virtual gambling account. However, transactions are not as fast as other methods and typically take seven days to complete.
The Bottom Line
Modern bettors prefer online casinos because of their speed, comfortability, and security. This is especially true when it’s time to process and receive payments.
A good online casino payment method must be secure and fast enough to distribute payouts quickly. As of the time of writing, electronic wallets, cryptocurrencies, and payment by bank card are by far the fastest. We advise that you use any of them for your online gaming transactions.