Since the law changed to allow legal sports betting on single events in Canada, many people across the country are choosing to create online sportsbook accounts. All major sports betting sites accept bets on the NHL, and it’s easy to get started, even if you’ve never placed a bet before.
With the playoffs in full swing, it’s a great time to start betting on hockey. However, before you can place any bets, you’ll need to choose which payment method you use to make a deposit. Most Canadian sportsbooks accept various payment options, but some are much better. We review four preferred payment options below.
Interac
Interac is a Canadian interbank network that connects accounts across different banks, allowing for fast and convenient transfers. It’s widely used, and over 300 sites accept Interac, allowing instant deposits at no charge. Most sites that accept Interac also process withdrawals using this option, though some limits can apply.
Anyone can use Interac, provided they have a bank account facilitating e-transfers. You don’t need to have the same bank account as the site you’re sending to, and the process is incredibly simple. All you need to do is choose the Interac option, select your bank, and log into your online banking account. Once logged in, enter how much you want to send.
Because Interac is so widely used, it has a high level of trust. It’s also much faster than a traditional bank transfer, making it ideal for online payments. When you want to place a bet, you don’t want to wait for long periods. The money also comes straight from your account, with no processing fees.
Visa/Mastercard
Visa and Mastercard are the world’s most widely used payment services. Naturally, they’re popular when making deposits and withdrawals at hockey sportsbooks, processing all payments quickly and without complications. Because Visa and Mastercard are so popular, almost every betting site accepts them.
Anyone opening a Canadian bank account receives a Visa or Mastercard, which can be used for online and in-person payments. To use it to make deposits, select the card option in the payment method menu and then enter your card details. Once your card is saved, you can use it for deposits or withdrawals.
Visa and Mastercard are great for betting on hockey because they’re widely accepted. In addition, they’re incredibly easy to use, with almost everyone in the country having a bank account with either a Visa or Mastercard. Making online payments is as simple as entering your card details. However, one thing that holds it back is that withdrawals can take time to process.
PayPal
PayPal is an eWallet service that first launched in 1998 and was designed to make online payments as simple as possible. It’s now used worldwide, with around 6.4 million users in Canada. PayPal is also accepted by lots of online betting sites, offering one of the fastest and most secure ways to make deposits and withdrawals.
One of the best benefits of PayPal is its easy use. You’ll need to sign up and create a PayPal account first, but once that’s done, you can add funds to your wallet or link your card. To deposit at your sportsbook is as simple as choosing PayPal from the available options and logging into your PayPal account.
PayPal is very popular among bettors thanks to its extra security. Instead of entering your bank details when making a deposit, you log into your PayPal account. In addition, it’s very easy to use and offers the fastest transfers of any other service. Instead of waiting days for your withdrawal, you can receive your funds within a few hours.
InstaDebit
InstaDebit is a Canadian eTransfer system that works similarly to Interac. A growing number of sportsbooks now accept this payment method, and it’s popular because of how easy it is to use. All you need is a Canadian bank account, and you can use it to start using InstaDebit when betting on the NHL online.
You can use InstaDebit for deposits and withdrawals, with the money coming directly from your bank. It’s not an eWallet, so you don’t need to send funds first. Instead, you must choose InstaDebit from the available payment methods and log into your online banking. After that, it’s simply a case of entering how much you want to send and approving the transfer.
InstaDebit is a great choice if you’re looking to start betting on hockey online. Many Canadians widely use it, and it has a high level of trust and security. On top of that, it’s very simple to use, as you don’t need to create an additional account or go through many different steps.
Conclusions
Betting on the NHL has never been easier, and you can sign up and get started at legal online sportsbooks today. When betting for real money, you must choose a good payment service that allows fast and secure transactions. Thankfully, there are lots of different options available, including Visa, Mastercard, Interac, Instadebit, and PayPal, all of which are simple to use.
