Money in the Bank – Ontario’s Secure iGaming Deposits & Withdrawals
To gamble online, we have to move money into a betting account. If we win, we want that money back, either in the bank or cash in hand. As a member of Ontario’s vast iGaming community, there are many ways you can go about it.
This page focuses on the multitude of payment methods Ontario’s legal, iGO-licensed gambling sites support for deposits and withdrawals. We cover the safest, fastest, and cheapest ways to get your money from point-A to point-B.
Secure iGaming Deposits & Withdrawals
We’re going to start out on the topic of security because, when it comes to money, security should be your top priority. That statement rings doubly true when money is moving across digital space. No one wants to divulge sensitive information over the internet if it’s not 100% secure.
Well, unfortunately, as we’ve seen with so many news headlines, nothing is really 100% secure. Payment services take the utmost measures to ensure the safety of all transfers. Identities and payment details are safe, thanks to state-of-the-art encryption technologies; the same technologies government banks utilize.
From a general perspective, your deposits and withdrawals are as safe as they can possibly be. So long as you’re smart about how you send and receive money, your odds of experiencing any kind of problems are minimal. That means using secure passwords, protecting those passwords, and never inputting sensitive information on an insecure website; (i.e. always look for the “https://” at the beginning of a web address).
As for iGaming payments, the best advice I can offer is this. Only gamble with online betting sites that are licensed and regulated in your local jurisdiction. These websites are required to use equally licensed and regulated payment suppliers. They are mandatorily safe and secure. And if anything does go wrong, with the website or a payment, you have a local authority to turn to for help.
Ontario Sportsbook & Casino Payment Methods
There are a lot of ways to move money into an online gaming account. To make this easier, we’ll start with categories, then break them down from there.
Physical Bank Card: These include credit cards, debit cards, ATM cards – all manner of physical cards issued by a bank, credit union, credit card company, or other finance-based institution (even online ones).
Online Banking: When it comes to online transfers, these are among the most popular methods to date. This category covers all internet banking services, including things like iDebit, Citadel, and Canadian-exclusive Interac.
Web Wallets: A web wallet (a.k.a. eWallet) is a payment service that exists only in the digital space. Users can move money into their virtual wallet, then use that wallet to pay for things online. Withdrawals can go to the user’s eWallet as well. They can spend that money online again, or send it back to their bank. Canada’s most common web wallets include MuchBetter and PayPal.
Prepaid Cards/Vouchers: Prepaid cards are a great option when you don’t want to divulge any personal or financial information to pay for something online. You can purchase a prepaid voucher or gift card in the amount you want to spend, then use that to make an online payment. Prepaid methods are available in both physical and digital formats.
Mobile Billing: As the name implies, mobile billing allows users to attach the cost of something to their mobile phone bill. This can apply to monthly phone plans or pay-as-you-go phones. Not all carriers support this, and those that do restrict payments to small amounts ($25-$50 on average).
Direct Banking: Direct banking covers a few options that lean more toward offline payments (even for online services). They include things like bank wire transfers, check/cheque by mail, and in-person payments at a casino’s cashier cage. This last one applies only to casinos that have a digital and physical presence in Ontario.
Now that you know all the different types of payment methods for iGaming, let’s take a closer look at specific methods within each category. We also provide a brief description and which ones are available for deposits, cashouts, or both.
Bank Card Deposits
These payments are among the easiest to make. All you need are the details from the physical card, and the address or postal code associated with it. The name and address associated with the card must match that of the person who owns the iGaming account. The point is, if you find a random debit card on the street, you can’t use it to fund your gambling account. And vice versa, should you lose your card, no one else can use it online, either.
| Payment | Deposit | Withdraw |
| Visa | Yes | No |
| Visa is the world’s most famous credit card company. It issues credit cards and debit cards that can be used to buy just about anything, including moving funds into your favorite iGaming destinations. You can use it wherever you see the Visa logo. Simply enter your card details, and your deposit is instant. | ||
| MasterCard | Yes | No |
| MasterCard is another popular bank card for Canadian commerce. It can be issued as a credit card or a debit card from your bank. MasterCard is accepted at most iGO-licensed casinos. Deposits are always instant. | ||
Online Banking Payments
This category lives up to its title. It includes all methods of payment that come straight from, and/or go straight to, your bank account. Some will require you to enter specific details, like a bank’s SWIFT code/routing number. Others are as easy as choosing your bank from a list, then logging in to your online banking account as usual to confirm the payment.
| Payment | Deposit | Withdraw |
| ACH / EFT | Yes | Yes |
| An ACH (automated clearing house) or EFT (electronic funds transfer) payment is one that requires the player to enter some specific banking account details. You’ll need the SWIFT code (a.k.a. routing number) for your bank, as well as your bank account number. All of these can be found on a paper cheque. Or simply call your bank and ask for the numbers. When you submit the payment, assuming the funds are available in your bank, the casino will credit your gaming account immediately. | ||
| Citadel Instant Banking | Yes | No |
| Citadel is an online banking system that works with most major banks in Canada. When you select this deposit option, you’ll be asked to choose your bank from a list. If your bank appears on that list, you’ll be able to use Instant Banking by Citadel. Just log into your account and verify the purchase. Deposits are instant and always free. | ||
| eCheck | Yes | Yes |
| An eCheck is an “electronic check”. Paying with an eCheck (or Instant eCheck) is just like paying with a paper cheque, except that there’s no paper or pen. As such, you will need to supply the same information that appears on your paper cheques. This includes the Bank Name, Bank Routing Number, and your Bank Account Number. For more information, see our section on How to Write and eCheck. | ||
| iDebit | Yes | Yes |
| Debit is an online banking service that works with most Canadian banks. It acts as a secure intermediary between the sending and receiving banks so that less information is shared over the internet. Learn more about How iDebit Deposits Work. | ||
| InstaDebit | Yes | Yes |
| InstaDebit is a combination of an intermediary banking service and a web wallet. Deposits can be made safely and securely through the online banking service. To request a withdrawal to InstaDebit, you’ll need to register an account. All funds received will be sent to your InstaDebit wallet. From there, you can spend them or send them on to your bank. | ||
| Interac | Yes | Yes |
| Interac is Canada’s largest, most trusted online banking network. It was developed by the Big Five Banks in the 1980s, and has evolved greatly over the years. If you use a debit card at the store, the funds are sent via Interac. If you get your pay cheque through direct deposit, Interac’s systems process it. It’s exclusive to Canada, incredibly fast and secure, and works with almost every bank in the country. Learn more about Interac for iGaming. | ||
eWallets / Web Wallets
An eWallet is like a combination of a standard bank account and a physical wallet. It is an account that exists online, in the digital world. You can put money in it, spend money from it, and in most cases, receive payments to it. Most people who prefer web wallets like them because they don’t have to share sensitive banking info with online merchants. Instead, you share that info with the web wallet, and it acts as a safe, secure intermediary between you and all of your casino accounts.
| Payment | Deposit | Withdraw |
| ApplePay | Yes | No |
| ApplePay is the mobile wallet that comes free with every iPhone account. To use it, you’ll need to add a payment method, such as a debit card or bank account. Once you do, payments can be as simple as scanning a QR code. | ||
| Luxon | Yes | Yes |
| Luxon is a unique eWallet because it charges no fees to send or receive money. It’s not 100% free, though. If you get a cashout to Luxon, it’s free, but to move that money to your bank will incur a fee. Loading your account with a card will cost you too, but funding from a bank account is free. The only way for iGamers to have a truly free Luxon eWallet is to be a high roller. If you make 10k or more in transfers each month, you can take advantage of fee-free services. | ||
| MuchBetter | Yes | Yes |
| MuchBetter is a secure eWallet with standard services and relatively low fees. You can link up a bank account or card for quick and easy payments. Withdrawals go back into your MuchBetter wallet, and be sent on to your bank. | ||
| PayPal | Yes | Yes |
| Paypal is the original online payment processor. Its reputation is as solid as its committment to customer satisfaction. It’s not the cheapest web wallet, but it is the world’s most trusted brand. Thanks to Ontario’s regulation of competitive iGaming, it’s now available at some iGO-licensed casinos. | ||
Prepaid Gift Cards & Vouchers
Perpaid payment methods are great for a number of things. First of all, you won’t have to share your bank or card info online. Secondly, you have the option of paying in cash. Combine those two features, and you get your third perk – semi-anonymity. I say semi, because you will have to verify your identity with the online gambling site in order to comply with Ontario’s KYC (know your customer) protocol. But if you don’t want your deposits showing up on a bank/credit card statement, cash is the way to go.
| Payment | Deposit | Withdraw |
| Flexepin | Yes | No |
| Flexepin is the number one choice of iGamers that don’t have a bank account. You can purchase physical vouchers in store, or or virtual vouchers online, then use them to upload funds at casinos that accept it. Learn more about Flexepin for Online Gambling. | ||
| Paysafecard | Yes | No |
| Paysafecard is a prepaid brand that’s been around for over two decades. As the name implies, it’s primary use is to make safe payments online. | ||
Mobile Billing / Pay By Phone Bill
Unfortunately, despite its growing popularity, we aren’t coming across any Ontario iGaming sites that support this option. If that changes, we’ll be sure to add pay by phone billing options in the future.
Direct Bank Transfers
A direct transfer is one that takes place in whole, or in part, in the physical realm. Cash @ Cage, for instance, takes place 100% in person, and in cash. Wire transfers are more direct between banks than online bank transfers initiated by individuals. The following is a list of all direct banking methods we’ve found in the Ontario iGaming market.
| Payment | Deposit | Withdraw |
| Cash @ Cage | Yes | Yes |
| These payments are only available at online casinos that have a physical and digital presence in Ontario. Several online operators are associated with land casinos, either as subsidiaries or in partnership. These gambling sites grant their members the option to deposit in cash, and withdrawal winnings in cash, by visiting the partner casino’s cashier cage. | ||
| Check by Mail | No | Yes |
| One fail-safe method of cashing out from a gambling site is to request a check (cheque) by mail. It is one of the least used methods, simply because it can take a few weeks to arrive in your mail box. It usually requires a high minimum as well, but you can’t beat the security. | ||
| Direct Bank Transfer | No | Yes |
| A direct bank transfer is like a wire transfer, but one that occurs regularly. It’s similar to getting a direct deposit from your employer. Merchants (i.e. online casinos) are able to use these to pay customers, because they use them regularly. | ||
| Wire Transfer | Yes | No |
| A wire transfer is the same as a direct bank transfer, but the opposite – they are for deposits only, not withdrawals. They are also more expensive because they are not regularly occurring payments. While they are among the most secure iGaming deposits, their cost makes them less appealing. | ||
