Best Payment Methods for Esports Betting Canada
Alright, now that we’ve walked you through the best esports betting Canada sites, how do you actually start wagering? The first thing you need to do is get some money on your gambling account. There are multiple ways of achieving this, but most of them can be divided into three categories: credit/debit cards, e-wallets, and cryptocurrencies. Let’s take a look at these categories to find out which payment methods suit you best!
Credit and Debit Cards
These are the Visas and MasterCards of the world. The great thing about credit and debit cards is that they’re almost universally accepted. With that, you can jump into the betting action as soon as your transaction is processed, which usually doesn’t take longer than a minute.
So, what are the downsides? Despite the fact that most esports betting sites use encryption protocols and other security measures to protect customer data, it still feels a bit weird to share your credit card information with third-party platforms. On top of that, credit and debit cards are tied to your identity, so you won’t be able to place anonymous wagers.
The other option you have is e-wallets. Payment methods like Skrill, Neteller, and PayPal are quite popular in the online esports betting crowd. Sure, they’re not exactly anonymous, but they still add another layer of protection to your credit card information. Combine that with the fact that pretty much every bookmaker is willing to work with at least a couple of e-wallets, and this is a fairly reliable payment option.
The flip side is that deposits can take some time to get processed. There’s also a decent chance to run into annoying transaction fees, so make sure to read the small print and double-check all the details before making your first deposit with an e-wallet.
A few years ago, betting on esports matches with cryptocurrencies was almost unheard of. Times change, though, and many operators have already adopted crypto as one of their primary deposit methods. This payment option is completely anonymous, making it a great fit for bettors that want to protect their personal information or bypass rigid country restrictions.
However, crypto transactions can take a while to process. There’s also the fact that the only widely accepted cryptocurrency is Bitcoin, so you will have a much harder time depositing funds with Ethereum or Litecoin. Finally, many betting sites will let you make a Bitcoin deposit only to force you to verify your identity when you make a withdrawal request. This completely negates any further attempts to remain anonymous, so try to find out whether your esports betting Canada site requires identity verification in advance.