Canadian Visa and Master Card Sports Betting Online
Since online sports betting started, credit cards like Visa and MasterCard have been the most popular way to fund sportsbook accounts. But lately, credit cards have become less popular for a number of reasons.
July 16, 2018
July 16, 2018
First off, many of them no longer work for depositing to online sportsbooks. This is because some credit card companies and banks have put blocks on these cards when it comes to many online transactions.
When you try to make a deposit to an online sportsbook, the transaction is coded a certain way when its sent for approval to Mastercard or Visa.
Depending on the issuing bank’s policy, they will either approve or disapprove the transaction based on that code.
Latest Betting Tips
What do I do if my Credit Card doesn’t work?
You have plenty of options if you cannot make sports betting deposits with your credit card. Many clients choose a good online wallet to make deposits and withdraws from sportsbooks. Even customers who have credit cards that work choose to use online wallets because deposits are processed easily and withdrawals are faster than if you used your credit card.
Top Canadian Sportbooks
Advantages of using an Online Wallet
Using online wallets for sports betting as opposed to credit cards is a great idea. Clients can fund online wallets such as IDebit or Instadebit using credit cards or even your personal chequing account. Simply fund your online wallet using your personal chequing account or credit card and you can send money to and from your favourite sportsbooks.
Not to mention you can have withdrawals sent directly to your bank account, no need to wait for mailed checks. There is significantly more flexibility for customers who use online wallets, most sports betting deposits now are processed using Instadebit and Moneybookers as opposed to Visa and MasterCard.
Which online wallet should I use?
There are plenty of online wallets to choose from, the top two that we recommend to Canadians is Instadebit and Moneybookers. Both of these wallets have been around for years and have a great reputation among their Canadian clients. Below we have listed the best ones for Canadians with a quick explanation.
Click on any of them listed for our full detailed review.
- Instadebit – Fund your Instadebit account using your Canadian chequing or Savings account (Electronic Cheque) and then feel free to transfer those funds to any online sportsbook of your choice. Withdrawal funds from your sports betting account back to your Canadian bank account within 48 hours. Full Instadebit Review.
- Entropay – Is an online wallet that works as a virtual Visa Card. Essentially it’s like a having a virtual pre-paid Visa card that will not be blocked by any gaming sites. You are issued a virtual Visa card number and actual Visa card should you wish to receive one so you can make withdrawals at bank machines. You can fund a Entropay account using a bank wire or electronic cheque. Full Entropay Review.
- PaySafeCard – PaySafeCard allows you to make in-person voucher purchases at your local convenience stores or Canada Post locations and then upload the money directly to your PaySafeCard account or the online sports book of your choosing. While not a typical online wallet, if you choose to use it as one, you can do so.
- PaySafeCard ReviewEcopayz – This sportsbook deposit method is almost identical to Entropay. Instead of being a virtual Visa card this is a virtual MasterCard.