MasterCard Gift Cards at Canadian Casinos: Your End to End Guide

The Mastercard Family of Financial Card Services

After more than 50 years, Mastercard has earned a well-deserved reputation as the world’s second-largest payments brand (behind Visa, of course). In all that time, its product line has seen impressive growth.

Mastercard Credit Card

The company’s credit card line spans a plethora of products, from low-limit cards designed to help users repair bad credit, to ultra-high-limit “black” cards, like the MasterCard Luxury Card.

The Capital One Master Card is especially popular in Canada. It comes in several forms, including a low 14.9% rate with a $79 annual fee, or a higher 19.8% rate with no annual fee. Most Canadian banks offer them as well. Just ask your local branch about its BMO, MBNA, RBC, Desjardins, or CIBC MasterCard options.

Mastercard Debit Card

Through its financial partner networks, Mastercard issues more debit cards than any other product in its ample line. According to data from Statista, the company had 1.47bn debit cards in circulation worldwide in the second half of 2021. Debit cards are the easiest to acquire, and the cheapest to use, since there’s no line of credit involved. All payments are made from the existing funds in the cardholder’s bank account, much like a prepaid card, which brings us to…

Vanilla Prepaid Mastercard

Mastercard offers a variety of gift cards, the most common of which is its Vanilla Mastercard Gift Card. You can purchase these for a small fee, plus the card’s value, at most retail locations throughout Canada. Just visit your local 7-11, Best Buy, Giant Tiger, Wal-Mart, etc., where you should be able to find Vanilla Prepaid Mastercard in denominations of $25, $50, $100, $200, $50, $75, $100, $150, and/or $250.

Prepaid Virtual Mastercard

A virtual prepaid card is like any other gift card, except that it only exists in virtual form. There is no physical card. You can’t hold it, tap it, or swipe it. That’s because virtual Mastercard is primarily for online purchases. Sure, you could reload a mobile wallet and use your smartphone to pay in a physical store. But most virtual cardholders choose this method for online activities, like paying bills, buying from Amazon and eBay, or depositing money in an online gambling account.

Choosing the Right MasterCard for iGaming Deposits

We all know Mastercard to be a safe and secure method of payment. Of that, there is no doubt. But not every type of Mastercard is best for funding an online casino, poker room, or sportsbook. In fact, over the years, Mastercard earned a reputation for iGaming payment rejection. It’s not the brand, but rather the type of card you’re using.

Credit Cards

Debit Card

That doesn’t mean a Mastercard debit card is the best idea either. This is the one area where Visa and Mastercard differ. A lot of banks, even here in Canada, will reject a payment to an offshore online gambling company. Visa debit cards work 80-90% of the time, while Mastercard debit only gets through about 50% of the time. So yes, your favorite casino may promote Mastercard debit card deposits, but your bank may cut them off from processing.

Prepaid Card

Where other cards may fail, a prepaid gift card prevails. Mastercard’s physical and virtual prepaid cards are inexpensive, readily available, and as easy to use as any other bank card. Here in Canada, they’re sold as JokerMastercard, and are especially handy for international purchases. All you have to do is enter the details, and your payment goes through in a matter of seconds. Best of all, the majority of Canadian online casinos accept them. You can purchase a Joker Mastercard in-store and online from a variety of retailers, including Jokercard.ca.

Keep reading below for more information as we detail all the features and highlights of Mastercard gift card casino deposits. And before you go, be sure to check out the Little Known Mastercard Fun Facts section, too!

What is an Online Mastercard Gift Card?

A Virtual Mastercard (a.k.a. Joker Card) is similar to a debit card, with two notable exceptions.

1. It’s not connected to you, your identity, or your bank account.
2. As a “virtual” card, it can only be used online, on mobile, or over the phone; anywhere a physical card is not required.

In essence, a virtual Jokercard is a Canadian online gift card that bears the Mastercard logo.

What separates the Joker Master Card from traditional eGift cards is that it’s not brand-specific. You can use it at any online merchant website where Mastercard is accepted. Brand-specific eGift cards (i.e. Amazon, Best Buy, Wal-Mart, etc.) can only be used on their respective websites.

There are a few reasons why these features benefit Canada’s online gamblers…

Give & Receive the Gift of iGaming

When you’re looking for the perfect gift, prepaid cards are a great option, but not everyone likes Gas+, Playstation, or Tim Hortons. (Okay, we all love Tim Hortons, but maybe not on a personalized gift card level!) If you’ve ever received a brand-specific gift card, when all you wanted was some extra cash to spend at the virtual casino, you can understand why this is so important. Some people really enjoy iGaming, and these types of prepaid cards are the only way you can give, or receive, online gambling credits as a gift.  

No Risk of Identity Theft or Financial Fraud

Gift-giving (and getting) is great and all, but staying safe in an ever-questionable realm of digital commerce is unequivocally important. The best way to protect ourselves from security threats like identity theft and financial fraud is to put as little information out there as possible. Mastercard gift cards are not tied to our bank or personal identity. They hold an original value. Once a card’s value is depleted, you can simply throw it away. By using the full amount on the card all at once, there is absolutely no chance that any money can be stolen from it, whether the card’s details are compromised or not. And that level of peace of mind is (drum roll please…) Priceless!

The Only Real Drawback – Not Eligible for Withdrawals

There’s really only one thing that a prepaid Mastercard can’t do, and that’s serve as a hopper for your casino winnings. You cannot withdraw funds back to the card. If you win a nice chunk of change and want to cash it out, you’ll have to choose a different payment method such as eZeeWallet. But hey, if that’s the worst of your problems – choosing how you want to get paid – that’s not a bad problem to have!

How to Buy Joker Card

You can purchase a JokerMastercard in a variety of ways, online or in-store. For ultimate convenience, we recommend buying online at official websites like Jokercard.ca and Giftcards.ca.

Alternatively, you can purchase a Joker Master Card in person at retail outlets all over Canada. Jokercard retailers include:

• Canadian-Tire
• Co-Op
• Country Grocer
• Loblaws
• Pharmaprix
• Rexall
• Safeway
• SaveOnFoods
• Shoppers Drug Mart
• Sobeys
• Staples
• TGP
• The Home Depot
• Thrifty Foods

You can also purchase a virtual Jokercard at some retail outlets by scanning the QR Code on the branded fixture at these locations:

• Canadian-Tire
• Loblaws
• Rexall
• Sobeys

JokerMastercard Values – How Much to Buy

Realistically, you can purchase a Mastercard gift card worth anywhere from $25 to $500. However, we do not advise loading more than $225 on a single card, especially if you intend to gamble online at any offshore websites. You may even wish to limit your card values to $75. Here’s why:

The following text is found in the fine print of the official Jokercard website, defining specific restrictions and limitations on the use of its gift cards in jurisdictions within the European Economic Area (EEA). This is important because the vast majority of international online casinos are located in the EEA (in Malta for example).

KEY TAKEAWAYS

• You will only be able to use Jokercard for up to $75 single deposits, and up to $225 maximum in combined deposits, per card.
• If you want a single-use card for utmost security, stick to $75 prepaid values.
• If you want bang for your buck, purchase a $225 card value and make multiple deposits until the card is depleted.

New Method of Buying a Virtual Prepaid Card Through Wise (A JokerCard Alternative)

A lot of us know of and use TransferWise, which has rebranded to Wise. They are very handy for sending bank transfers to international recipients and have recently expanded their product line. The Wise virtual card now allows you to manage finances without needing a physical card. It is available in over 30 countries right now (Canada included).

What it does is allow users to spend online, in-store, and abroad without needing a physical card. The bonus point is that the card is mostly free (except in a few countries like the US), and you enjoy the benefits of low currency conversion fees. How much fees are we talking about here ? The Wise digital card currency conversion fee starts at 0.33%. To compare to an alternative payment method, the fee for conversion at Muchbetter is 0.99%. So this is an excellent rate if you’re going to convert CAD to USD at an offshore casino.

Keep in mind that a 0.99% currency conversion rate for an eWallet like MuchBetter is already considered competitive. Currency conversion fees for eWallets vary, but they typically range from 0.5% to 3%. Therefore, a rate of 0.33% + with a virtual mastercard is well on the lower end of this spectrum. This makes is quite favorable for gamblers who frequently make transactions in different currencies. Keep it in mind if this applies to you.

The way this product works is that the virtual card is linked to the user’s Wise account and can be accessed via a phone or laptop. It offers enhanced security by having different details from the physical card and can be frozen after each purchase to prevent unauthorized use.

Users can hold over 40 different currencies simultaneously and convert them in real-time using the Wise app. For iGamers, we mostly care about CAD and USD since our native currency is CAD, and many casinos accept USD only. The good news is that both are supported here.

This makes it ideal for travelers, online shoppers, and those looking to reduce plastic waste. In that way, a virtual Mastercard is quite similar to an eCheck; it is eco-friendly, with no use of paper or plastic.

The Wise virtual card is free for all personal or business account holders, except those in the US. To get started, users need to create a Wise account. The process is then very streamlined: order a physical card, and then access the virtual card option in the app or on the website. Of last note that the card is authorised by the UK Financial Conduct Authority.

Other Notable Virtual MasterCard Lines/Providers in Canada

After checking Reddit threads to get a current overview of the market, we found people recommending virtual Credit Cards from four main providers in Canada: NEO, Koho, Wealthsimple, and PC Financial.

• NEO Financial: Neo is a Financial institution in Calgary serving Canadians so they are relevant here. NEO offers the Neo Financial Mastercard, which includes both standard and secured credit options. The standard card is available to those with high credit scores, while the secured version requires a security fund instead of a credit check. As per the link above, this card can be managed via their proprietary mobile app, allowing users to handle both physical and virtual cards from one dashboard. Another nice feature is that you can also add the card to your Apple Wallet or Google Wallet to use it for in-store transactions.
• Koho: Koho is a Canadian fintech company based out of Toronto. Although they aren’t a bank per se, they do have an active license with Mastercard to provide a virtual prepaid card that can be used for online and in-store transactions. It operates on a prepaid model as well, meaning users must fund their account before making purchases. This is of course great for responsible gambling. Koho cards offer cash back rewards and can be managed through their app.
• Wealthsimple: The Wealthsimple Cash card is another option that offers a virtual prepaid card. Wealthsimple is a Canadian finance and wealth management service. It was founded in 2014 by Michael Katchen (the current CEO) and 3 others, and also operates from Ontario. Users must deposit money into their Wealthsimple account to use the card, which provides cashback on purchases. In case you are wondering this virtual card number isn’t dynamic – it remains consistent for all transactions. It’s one of the better options we have seen.
• PC Financial: PC Financial typically provides digital banking services to Canadian clients, and these services now include issuing virtual cards. PCF is actually the financial product of the Canadian supermarket chain Loblaw Companies.  Customers interested in virtual cards should look for their products referred to as PC Money™ Account and PC® Mastercard® (and follow our link above) to read all the terms and conditions. They of course have a rewards program, in this case branded as PC Optimum™ as well as their own proprietary app.

Anticipating Getsby’s Arrival in Canada: Virtual Mastercard for Secure Gambling

Getsby is a forward-thinking company that offers virtual prepaid Mastercard, which include both reloadable and disposable options. These cards are designed to be sustainable and targeted for individual consumers and corporate clients.

Getsby was founded in 2014 and is currently headquartered in the Netherlands. They have two fairly new and very attractive payment card lines that can be used for Canadian iGaming, namely their virtual black card and their virtual green cards.

However these cards can currently only be used in the European Economic Area (EEA), the European Free Trade Association (EFTA), and the United Kingdom. We will update this page when/if they ever became available to Canadian iGamers.

They are nice because these cards are accepted wherever Mastercard is used online, with non-reloadable options providing privacy protection through unique card numbers.

Their two virtual payment card lines (black and green) are marketed on their site in the context of UK’s ban on using credit cards for iGaming. This ban was implemented by the UK Gambling Commission to reduce the risks associated with gambling on borrowed money. The key points regarding Getsby’s offerings in light of this ban are:

• Virtual Debit Cards: These cards allow users to spend only the funds available on them, providing better budget management and privacy protection through unique 16-digit numbers. Responsible gambling is greatly enhanced as a result.
• Two Card Options:
  • Getsby Virtual Black Card: A non-reloadable option for single deposits up to €500.
  • Getsby Virtual Green Card: A reloadable card that allows deposits up to €9,000 per day.
• Security and Privacy: Users receive an access code via email shortly after payment, enabling anonymous online purchases and safeguarding their privacy.

These are great because they are designed for gambling, however when/if they arrive in Canada is anyone’s guess.

Prime Qualities of Prepaid Mastercard Casinos

The vast bulk of today’s online casinos accept Mastercard in all its physical and virtual card-based glories. At last count, we found more than 3,000 online casinos boasting Mastercard payments. More than 900 of those cater to the Canadian market. Long story short, its overwhelming acceptance rate is one of its most notable qualities.

The only problem this presents is that you can’t possibly narrow your search for a good casino by its acceptance of prepaid Mastercard deposits. To help, we strongly suggest looking for each of these prime qualities to ensure a safe, secure, fair, and wholly entertaining experience:

Canadian Player Acceptance

If you’re in Canada, the number one requirement is that the online casino accepts Canadian players. It may seem trivial, but statistically speaking, only about 30% of Mastercard gambling sites do. So, make sure the operator you’re looking at welcomes players from your area.  

What’s Better, Domestic or International Casinos?

Depending on where you reside in Canada, this may be an important question. Many provinces offer a home-grown, locally-regulated online gambling market. Websites under this umbrella are trustworthy by default, partly because they offer players a local authority to turn to if something goes wrong. If you have access to local iGaming, you should at least consider utilizing it. We especially recommend doing so from Ontario; the only province of Canada with an open, competitive market. As for other provinces, outside competition is prohibited, which is why you might prefer the offerings of international operators.

The benefits of a competitive market are plain to see. Promotions, for example, can be a lot more generous when thousands of operators are vying for your business. Choice in game variety is another perk. Maybe you’re looking for specific types of casino games; the most profitable blackjack tables; the highest paying progressive slots; an omnichannel operation with casino games, poker tables, and sports betting.

Our Favorite Mastercard Casino – Jackpot City

Jackpot City is what you might call a diamond in the rough. With thousands of online casinos on the web today, most of them all blend together, melding into one big blur. But Jackpot City has exceptional qualities not often found in their competitors. First and foremost, it’s one of the oldest online Mastercard gift card casinos on the web today. For two, they are official sponsors of Toronto Maple Leafs… not bad if you ask us.

Since its founding in 1998, Jackpot City Casino has been known for having a superior level of customer satisfaction, even before government regulation became a mainstream service. The online casino has been welcoming Canadian players throughout it all. Highlighting that fact is its association with Canada’s exclusive Interac payment system. Anyone who knows the industry well knows that Interac only associates with businesses that maintain the highest level of business practices.

Operating from the European island nation of Malta, JackpotCity is under the regulation of the Malta Gaming Authority (MGA), one of the world’s most respected regulators. Despite its strong presence in European markets, JackpotCity makes significant efforts to cater to Canadian players. The casino offers a dedicated domain for CAD players and is licensed in Ontario, ensuring compliance with local regulations.

Other qualities include a very generous welcome bonus (up to $1,600 for new players – ON excluded), a rewarding VIP program that benefits all player types, and a world-class collection of games from the industry’s top software suppliers. They include Microgaming, NetEnt, On Air, Pragmatic Play, Red Tiger Gaming, and the cherry on top – live dealer table access from the most decorated live casino supplier in the business, Evolution Gaming.

Other Casinos that Accept Virtual Prepaid Mastercard

As we’ve already established, there are hundreds of Canadian-facing online casinos that accept virtual prepaid Mastercard deposits. We certainly don’t recommend all of them. The only operators we recommend are those we’ve personally weighed, measured, and deemed worthy of our own regular gameplay. Believe me, we’ve tested a lot, but only a few made the grade.

One such website, relatively new to our list (but not to the industry) is BetWay Casino.  BetWay is one of the largest operators in the world, and a top choice for Canadian players; particularly those looking for a one-stop iGaming shop (casino + sports). Those who aren’t interested in the sportsbook side, however, might find a great focus on casino gaming elsewhere.

If the Virtual Mastercard Canada casinos above aren’t exactly your cup of tea, here are a few more we believe you might like:

• Spin Palace (review here)
• Yukon Gold (review here)
• Luxury Brand (review here)
• 888 Casino (part of the 888 gambling group, which includes 888 Poker and 888 Sports)

Each and every one of these gambling sites offers Canadians the option to deposit with a virtual prepaid Mastercard. If you’re not sure which one to choose, we suggest taking them for a test run. You can play for free, for as long as you like. Once you’re confident you’ve found the right one, then you can register a real-money player account.

Little-Known Mastercard Fun Facts

I personally spent a great deal of time researching Mastercard and its many financial services to put this  page together. In doing so, I learned a lot of interesting facts about this card company. Not all of them are valuable to the content of the page, but that doesn’t make them any less fascinating overall. So, I’ve decided to compile this short list of fun facts for your educational enjoyment.

1. From Humble ICA Beginnings

Mastercard got its start in 1966 as The Interbank Card, offered by a financial collective known as Interbank Card Association (ICA). It wasn’t until 1969 that it earned the title of Master Charge, featuring the first of its iconic red/orange circle logos. More interesting, however, is the reason the Interbank Card was produced in the first place…

2. Because VISA (then BankAmericard) said “No”

In 1966, the extreme success of BankAmerica (now VISA) was making huge waves across the financial world. Due to common banking laws in those days, it was practically imperative for banks to join a collective card service in order to offer a credit card. Marine Midland Bank of Buffalo, New York, requested a BankAmericard regional license. When it was declined (on the basis that Marine Midland was ‘too big’), Executive Vice President Carl H. Hinke called a meeting with representatives of several other regional banks. Together, they formed Interbank, Inc, which soon became Interbank Card Association (ICA), which introduced The Interbank Card that later became Mastercard. Thus, VISA’s largest rival exists because it was unwilling to share its services with a bigger bank.

3. A Logo Everyone Knows at a Glance

By 1967, ICA’s financial partnership list was growing. Brand recognition, however, was non-existent. Executives blamed it on the Interbank Card’s minimalistic logo, which – at that time – consisted of a tiny lower-case i in the top-right corner of the card. That logo was chosen to provide partner banks with enough room to provide their own branding alongside it. Clearly, that wasn’t working. So, when Interbank and Eurocard teamed up in 1968, it was decided a new approach was necessary to make their cards more recognizable.

They chose to combine the overlapping circles logo of their partner, Western States Bankcard Association, with the name Master Charge, coined by their partners at First National Bank in Louisville, Kentucky. The new card name and logo launched in 1969, and is today one of the most recognized brands in North America, if not the entire world.       

4. All those little fees add up!

Mastercard has a throng of financial products, serving billions of customers around the globe. With such high interest rates on most of its credit cards, you’d expect this to make up the bulk of the company’s revenue. In reality, more than 80% of Mastercard’s business profits come from all those small fees customers and merchants pay to use and accept Mastercard. Every single transaction comes with a processing fee, plus either a domestic assessment fee, or a cross border volume fee (depending on whether the issuing bank and point of sale are in the same country). Those little fees add up to billions of dollars in annual revenue. 

5. Official Partner of StartUp Canada

In 2017, MasterCard teamed up with StartUp Canada to support the network’s goal of expanding opportunities for the nation’s entrepreneurial community. Mastercard provides its payment technology expertise to the group, hosting training and guidance through the Startup foundation’s Finance Bootcamp. It also sponsors the group’s #StartUpGOV initiative, bringing innovators and politicians onto the same collaborative plane, with the ultimate goal of encouraging “greater innovation and small business success” throughout Canada.