What it Takes to Start Your Own Online Casino Business
If you’ve spent any time gambling in an online casino, you may have noticed a few things. For one, the games are extremely entertaining. There are hundreds to choose from, with rules and themes to appeal to anyone and everyone. With so many online casinos vying for your membership, there’s clearly some healthy competition in the industry. Perhaps most important of all, you’ve recognized that the house has a distinct advantage in every game.
If casino games are designed to win more money for the house than they pay out to players, wouldn’t it make sense to play on the side of the house? And what better way to do that than to own the house? With that in mind, we’re going to take a look at how to start and online casino. It’s not easy, and it’s certainly not cheap, but if you’ve got the means and the drive, it may very well be worth your time and effort.
What it Takes to Start Your Own Online Casino
While the concept above – the casino always wins, so I’ll just open my own casino – is a common theory, it’s not necessarily a realistic one, which is why most people don’t do it. The truth is, there’s a lot that goes into opening an online gambling site; much more than most people realize. It’s a lengthy, step-by-step process, and an expensive one at that. The very first thing you’ll need to do is…
Register and Host Your Online Casino Domain
The first step is to choose a domain name. It should be something quick and catchy, and directly to the point. The shorter the name, the more likely people are to remember it. Betfair, LeoVegas, PokerStars – they all meet this easy-marketing requirement.
Once you choose your domain name, you need to register it with a domain registering service. Then you have to pay a server to host it.
Even if you don’t intend to launch your casino for a year or two, registering the domain should come first. Search engines take into account the longevity of a domain when indexing. Simply put, a website created two years ago ranks better than one launched two weeks ago.
Apply for an Online Gambling License
This is going to be the most expensive step, by far. Your operation must be licensed to garner any respect from the iGaming community. Where you obtain your license from will directly impact the cost and reputability of the operation.
Some jurisdictions, like Costa Rica, Panama, Belize, pretty much anywhere in Central America, offer very little in the way of regulation. You pay a smaller fee, but sacrifice the respect of strict player protections. Obtaining a license from the Malta Gaming Authority carries much more respect, as you’ll have to comply with their high standards. But, you’ll also pay a lot more for that license.
Also consider which countries you want to accept players from. Black markets, including much of the US, require lax regulation, but could get you into trouble down the line. To accept players from the UK, the world’s most productive iGaming market, you’ll need a UK license, which comes with the strictest standards, and highest price tag. A Maltese license will grant you access to most legal markets, including Canada.
Every license comes with fees. Expect them to be in the five-figure range. Then there’s financial reporting and taxes to be considered. Think very carefully about which way you want to go here, and do your research.
Employ One or More Casino Software Suppliers
Every online casino needs an assortment of games to offer their players. There are dozens of highly respected content studios to choose from. You may wish to go with a single platform with a large portfolio of games. Or, you could employ a collection of software brands to offer more diversity. Just keep in mind, you’ll pay a separate fee for each casino suite you integrate. Then there’s always the option of going beyond csaino games and into the field of poker, bingo, sports betting, etc.
Another thing to consider is just how involved you want the software supplier to be. There are generally three options.
Casino Games Only: Employ the casino suite only, granting you a license to supply its games.
Games + System Platform: This option comes with the casino suite license, plus a back-end platform that administers and manages player account services.
The Whole casino Package: If you take the full package, you’ll get the casino suite license, the player account system, plus integration of security features, software certification, and a dedicated customer support / tech support team.
The more you want, the more you’ll pay for it, but the less you’ll be responsible for managing in the long run. Choose a full package from a major content supplier like eCOGRA-certified Microgaming, and you can rest assured everything that needs to get done, will get done.
Payment Processing – Choose Your Banking Methods
As any avid online casino gamer knows, the security and availability of payment methods is paramount to attracting new player sign-ups. Today, iGamers expect a wide selection of banking options for deposits and withdrawals.
Some players are very picky, and will only use eChecks, or Paypal, or Instant Banking methods like Interac or Citadel. Others are esteemed supporters of the cryptocurrency movement. If you want to cater to these types, you have to supply a long list of trusted payments to hit all niche players. And of course, credit and debit cards (Visa, Mastercard, etc.) are a must.
Once again, consider your options, do your research, and know your intended customers.
Catering to the Mobile Generation
Ten years ago, the mobile casino movement was hardly a quiver. Today, it’s rushing ahead like a locomotive. You don’t have to build a mobile app for your casino, but you could miss out on an entire generation of would-be customers if you don’t.
Now You Must Build It…
With all these steps out of the way, it’s time to put all the pieces together. You may want to hire a web design team for the website, as well as a mobile app developer. That’s more money going into your project. And once you get the casino up and running, you’ll need to factor in software and licensing renewal fees, plus additional costs like marketing and employee salaries.
As I said, this will be an expensive venture. There are cheaper routes, but as the old adage goes, “You get what you pay for”. Like any successful business, the more you’re willing to invest into a quality product, the more you’re likely to get out of it.
If learning how to start your own online casino business was enough to make your head spin, maybe it’s not the right choice for you. Maybe playing those online slots and table games, despite their slight disadvantage to the player, weren’t so bad after all?
Anticipating the launch date for legal sports betting in Canada.
Like most major countries of the world, sports is a very big deal here in Canada. We love our ice hockey, just as Brits love soccer, Australians love Aussie rules, and Americans love baseball (and basketball, and football, and boxing – I could go on.) It doesn’t have to be hockey, though. Like Americans, we Canadians are drawn all sorts of major sporting leagues, from CFL and NFL football, to NBA basketball. (Go Raptors!)
Now, like so many other major countries, Canadians will soon have a legal and locally regulated means of betting on sports. Not just low-odds parlay bets, either, but real, bettor-friendly, single-event wagers. The kinds of bets that attract genuine sports fans. We’re talking about everything from game winners and point totals, to futures and live in-play betting.
Speaking of futures, now that the government has legalized single-game betting, what’s the future look like for Canadian sports fans?
Canada Sports Betting FAQ
This FAQ will answer some of the most common questions, including how soon we can expect live and online sportsbooks to launch in Canada. But first…
Is Single-Game Sports Betting Really Legal in Canada?
Yes! On June 22, 2021, The Senate passed Bill C-218, otherwise known as the Safe and Regulated Sports Betting Act. Exactly one week later, on June 29, 2021, the measure received Royal Assent, officially enacting it into law.
“This enactment amends paragraph 207(4)(b) of the Criminal Code to make it lawful for the government of a province, or a person or entity licensed by the Lieutenant Governor in Council of that province, to conduct and manage a lottery scheme in the province that involves betting on a race — other than a horse-race — or fight, or on a single sport event or athletic contest.”
Wait – was sports betting illegal before?
Not exactly. It was illegal for any provincial regulator to provide anything more than multi-pick, parlay betting. Provinces have done this for years, promoting it as a sports lottery. And it was illegal for any Canadian-based company to offer any form of gambling without provincial authorization. However, there’s nothing illegal about placing bets with international sports betting websites. So long as they have no physical presence in Canada, they are not bound by Canadian law.
The only real difference before and after the passage of Bill C-218 is that Canadians will now be able to place single bets with locally licensed and regulated sportsbooks (not just the international variety), and our own government will profit from it.
Will All Provinces and Territories Adopt Single-Game Sports Betting?
Most likely, yes, with the sole exception (maybe) of the territory of Nunavut. Nunavut is the only region that may choose to refrain, simply because commercial gaming has never been authorized there.
At present, Canada’s 10 provinces, plus the Northwest Territories and Yukon, offer the current parlay-style sports lottery. Most of of them also provide casino games and lotteries, either online, on land, or both. It would certainly make sense that these jurisdictions would want to work quickly to convert to single-game sports betting in the digital and retail space.
Will There Be Online Sportsbooks in Canada?
Absolutely! As previously stated, most jurisdictions already promote a locally operated online gaming portal. There’s no doubt that the new rules will be applied to both retail and online sports betting operations. In fact, some provinces were so eager for legalization, they were prepared for launch the moment the law went into effect.
British Columbia Lottery Corp (BCLC) has already made clear its intentions to launch an online sportsbook the moment they are legally capable and prepared to do so. It says it right on their iGaming portal, PlayNow.
Is There a Launch Date for Sports Betting in Canada?
This is the question everyone wants answered – when will single-game betting arrive in Canada? Unfortunately, no one is talking about actual dates yet. In fact, regulators aren’t talking much at all, except to say that sportsbooks are coming. That leaves us with little more than the obvious speculation that a launch could and should occur sometime this Fall.
Why in the Fall, you ask? Well, for one, regulatory guidelines and licensing stipulations must still be written, and there isn’t a lot of summer left to work with. Second, provincial regulators are hoping to get the ball rolling as quickly as possible, because as the old saying goes – “time is money”. And third, the 2021-22 NHL season gets underway October 12. This should light a big enough fire beneath local legislators to get the job done, post haste.
What Commercial Sportsbooks are Coming to Canada?
There’s little doubt that all of Canada’s provincial iGaming portals will launch a sportsbook. What makes this new legislation so interesting, however, is that commercial operators are being given permission to compete – not just in the retail market, like casinos, but in the virtual market. Never before has Canada’s online gambling industry been allowed to host competition within jurisdictions.
It’s too early to devise a definitive list of what companies are going to compete in this upcoming market, assuming provinces choose to let them. Licensing guidelines have yet to be finalized, and until they are, license applications cannot be submitted for appraisal. Even then, there are no guarantees – except maybe one. Canada will cater to its home-town-hero sports betting brand, theScore Bet.
Of all the commercial operators looking to expand from the US market into Canada, theScore is the only one with roots deeply embedded in the Great White North. Another highly-likely competitor is PointsBet. That company recently launched an all new Canadian Operations team, appointing CEO Scott Vanderwel and CCO Nik Sulsky. If nothing else, PointsBet’s determination to penetrate the market is indubitably clear.
Here’s a list of operators you can expect to see opening Canadian sportsbooks (in order of most-probable), and why we think they’ll be approved to do so.
theScore Bet – Based out of Toronto, theScore runs one of the nation’s most popular sports media brands. This company might as well already have the license in hand.
PointsBet – These guys have set up an entire Canadian division for their company, complete with executive figureheads. They’ll stop at nothing to get a foot in the door.
DraftKings – This brand already operates online and mobile DFS betting in Canada, and is a respected member of the Canadian Gaming Association.
FanDuel – This is another brand that already operates online and mobile DFS betting in Canada.
Caesars – A global brand, this one owns and operates Caesars Windsor in Ontario, one of the largest integrated resort casinos in the country. It’s also an active member of the Canadian Gaming Association.
Hard Rock – An American based company, they own and operate the famous Hard Rock Vancouver in BC, and will soon open another Hard Rock Casino in the Canadian capital of Ottawa. They’re also is a member of the Canadian Gaming Association
Sports availability is sure to mimic the major events already available in certain US states. As we’ve seen there, variety will surely differ from one operator to the next. You can expect to find all major sportinging events and tournaments, including the following:
Baseball (MLB)
Basketball (NBA)
Football (CFL, NFL)
Golf (PGA Tour)
Hockey (NHL)
Olympic Games
Soccer (European, MLS)
Tennis (Grand Slam)
What is the Legal Age to Bet on Sports in Canada?
The legal age to gamble in Canada varies from one province and territory to the next. The following alphabetical chart shows the appropriate age for sports betting across the country.
Provinces and Territories of Canada
Legal Betting Age
Alberta
18
British Columbia
19
Manitoba
18
New Brunswick
19
Newfoundland & Labrador
19
Northwest Terrorizes
19
Nova Scotia
19
Nunavut
19
Ontario
19
Prince Edward Island
19
Quebec
18
Saskatchewan
19
Yukon
19
What Payment Methods will be Available?
Like the sports categories themselves, availability of banking options will be determined by each operator. No doubt, debit cards will top every list, just as they do now on Canada’s provincially run iGaming portals. Canadian exclusive payment methods like Interac eTransfer are sure to get some attention, along with major web wallets like Paypal. If the US market is any indication, Canada’s sportsbooks may also look to employ the versatility of a Play+ prepaid gaming card.
All in all, I believe the payment options list for most Canadian sports betting sites will look something like this:
Can I Still Bet at International Online Sportsbooks?
Yes. From a legislative perspective, there is still no reason Canadians can’t do their online betting with offshore operators. It’s never been illegal before, and recently enacted amendments to the law don’t change that. All they’ve done is make it legal for provincial regulators to offer the same single-game sports betting options we’re already able to access via international websites. If you’ve established a report with one of those operators, building your way up the VIP ladder as a loyal member, there’s no reason to stop now.
Existing options and preferred alternatives for Western Union gambling deposits in Canada.
There was a time when Western Union was ranked among the absolute most secure ways to make an online casino deposit. That was back in the days when internet security was questionable, at best. Technology simply wasn’t advanced enough to shore up all the potential cracks in cyberspace, and it left a lot of people afraid to enter any financial details over the world wide web. Therefore, the easy answer was to instantly wire the money – usually overseas – via Western Union.
As many of you
may remember, those international cash transfers weren’t cheap.
They came with a hefty convenience fee, but one many of Canada’s
online gamblers were willing to pay for the peace of mind it
afforded.
Thankfully, with
the rise of greater internet security and multitude of online payment
methods, Western Union has lowered its fees to remain relevant. But
does that make it the right choice for Canadian iGamers? Let’s take
a closer look…
Western Union Gambling Deposits in Canada
There’s one
very important fact you need to know about Western Union. When the US
government decided to crack down on internet gambling between
2006-2011, it sent a lot of major, US-based financial companies
scurrying. Western Union was among them.
The US-based but globally operating cash transfer agency chose to play it safe, prohibiting online gambling related transfers to/from in any country where the laws do not explicitly legalize online gambling. The US market was off limits, of course, but so was Canada. You may be wondering, and for good reason, how can this be?
As you probably
know, online gambling is not illegal in Canada – far from it.
Several provincial governments run their own iGaming websites,
providing services like online lottery sales, casino games, poker,
bingo, etc. We can also visit thousands of internationally regulated
websites with no fear of legal recourse.
The problem is that, while those offshore gambling sites are not illegal, they aren’t expressly legal, either. The fact that they’re not illegal makes them legal – but not in the same way as jurisdictions where they are explicitly permitted. Thus is falls into what legal eagles like to call a “grey area” of the law. As such, Western Union chooses not to facilitate any online gambling related deposits for Canadian users. “Better safe than sorry”, so the saying goes.
Alternatives to Western Union Canada
Fortunately, as I said above, internet security has improved by leaps and bounds. There are now many safe ways to move money online. Here are some of the top recommendations for Canadian iGamers:
Interac
This is my favorite option. Not only is it superbly secure, it’s available to the vast majority of Canadians. Interac works with over 250 banks, credit unions and other financial institutions. All you need is an online banking account. Best of all, if the online casino you play at accepts Interac, you already know it’s a safe, trusted iGaming brand. Learn more about Interac
eCheck
Using eCheck is
much like writing a paper checque, except that you don’t have to
write it, mail it, or wait for it to clear the bank. The entire
process is performed electronically. All you have to provide is your
bank account number, and the bank’s routing number – the same
info found on a paper cheque. Learn
more about eChecks
Debit Card
When all else fails, just use your debit card. I would not have recommended this 15 years ago, but today, there are more than enough safety nets and assurances to protect your personal and financial details. The key is to only do business with highly reputable iGaming operators. Learn more about online casino safety
Canadians don’t need Neteller
casinos anyway. Try one of these great alternatives instead.
In case you’ve
been out of the loop for awhile, you may not realize that Neteller
is no longer the biggest name in iGaming deposits and withdrawals.
Back in the day – and by that, I mean the first decade of the
millennium – Neteller payments were all the rage. Now days, that
company has secluded itself, primarily to the European market. That’s
okay, though. We Canadians don’t need them anyway!
While Neteller was
busy washing its hands of North America, other payment options were
being developed; options that are faster, easier, and far more secure
than that e-money transfer service ever hoped to be.
If you’d like to
hear a bit of why Neteller left the Canadian market, read the next
section. Or, to get straight to the alternative casino payments in
Canada, skip to that section below.
Extinguishment of Neteller Casinos in Canada
Neteller first
appeared in 1999 as a rival to Confinity, which changed its
name to PayPal the same year. PayPal took off like a
rocket, while Neteller struggled. That is, until it discovered the
online gambling sector. While PayPal steered clear of this
controversial and unregulated market, Neteller embraced it like a
wealthy, long-lost brother.
For years,
Neteller ruled the roost in iGaming payments, serving every player in
every country, and making billions of dollars in the process. Then
one day, the US said it was illegal. Neteller’s owners laughed until
2008, when they were arrested at an airport in Florida and charged
with laundering billions of dollars in illegal gambling proceeds.
Neteller was unceremoniously booted from the US market at that point,
and soon after, pulled its services from Canada, just for good
measure.
It’s worth noting
that Neteller is owned by the Paysafe Group, which also owns
Skrill (formerly Moneybookers). That payment method was
pulled from Canada shortly after Neteller, so don’t expect to find
any Skill casinos on the list below either.
Alternative Casino Payments to Neteller in Canada
So Neteller and
Skrill are out. No biggie. Here’s a list of excellent alternatives we
Canadians can still use to process quick, safe, and secure deposits
and withdrawals at online casinos.
eChecks / Instant eChecks
A long-time favorite, eCheck deposits are available to pretty much anyone with a bank account. Sending an eCheck is just like writing out a paper cheque, except that it is performed electronically, and accepted instantly. Just about every online casino in existence advertises this alternative payment method, found under the title eCheck or Instant eCheck.
Interac is
a nifty little service cooked up by the 5 biggest Canadian banks, and
subsequently available only to Canadians. Interac eTransfers are
facilitated as an online banking service that is impenetrably secure
and 100% free. So long as you’re a member of one of the 250+ banks
that support Interac eTransfers, you can use the service.
Finding Interac casinos, however, isn’t so easy, since those banks
only do business with the world’s most reputable operators like Royal
Vegas Canada.
EcoPayz eWallet
If you really like
the whole web wallet service plan, EcoPayz (formerly EcoCard)
is the way to go. This online payment process has been around since
2000, but didn’t become a major player in the iGaming payments sector
until the loss of Skrill and Neteller casinos in Canada. Suddenly,
EcoPayz became the number one web wallet this side of the North
Atlantic. Users can link a bank account or fund their digital wallet
through an abundance of payment methods. Withdrawals are quick, and
can be directed back to the user’s bank with ease. The fees are
nominal, and there’s a convenient EcoPayz mobile app for iOSand Android.
Ultimate new user guide to online casino gambling in Canada.
Gambling is an extremely popular pastime in Canada. In 2000, right around the time internet casinos were starting to blossom, an international study revealed that 70% of Canadians participate in some form of gambling each year. With the rise of online and mobile gaming options, that number is sure to have increased.
Those of you seeking to venture into that realm surely have a lot of questions. Is it legal? Can I access offshore websites? Are there convenient banking methods, and are they secure? Today’s ultimate new user guide to Canada online casino gaming will answer these questions, and more.
Is Online Casino Gambling in Canada Legal?
Yes, it is. Gambling is legal in every province and territory of Canada. There are no specific laws that discriminate between land-based and online gambling. Therefore online casinos are perfectly legal, too.
There are two basic types of online casinos for Canadian players. There’s the provincially regulated variety, and the offshore variety. Only the provinces of British Columbia, Manitoba, Ontario and Quebec host provincial casino sites (plus online lottery in the Atlantic regions), and you must live within the respective province to access them. Offshore casinos accept players from various countries, with Canada typically included.
Are Offshore Online Casinos Legal?
Yes, they are. Despite the efforts of provinces to change that fact, there is no law preventing Canadians from accessing internationally regulated gambling websites. It is equally legal for an international gaming operator to accept Canadians, so long as they follow one express rule.
The Criminal Code determines what types of gambling can be legal. The only way an online casino would be illegal is if it has a physical presence in Canada, but does not acquire a provincial licence. By remaining offshore, and opening no offices on Canadian soil, no laws are being broken.
How Do Deposits and Withdrawals Work?
Most online casinos offer a wide range of deposit methods. Credit cards, debit cards, prepaid cards, online payment processors (EcoPayz, Neteller, Skrill, etc.), bank transfers, instant eChecks—these are all common options. The key is to pick the one that best suits your needs.
They are incredibly secure, as well. So long as you choose reputable gaming websites, and keep your own computer or mobile device secure, you have nothing to worry about.
Are Online Casino Winnings Taxed?
Typically no, Canadians do not pay taxes on any gambling winnings. The Canada Revenue Agency states, “an individual may be subject to tax on income derived from gambling itself, if the gambling activities constitute carrying on the business of gambling”.
Therefore, the only players who pay taxes are those that gamble ‘professionally’. If you gamble regularly, and make consistent profits from it, then you may be subject to taxation. But as a casual player, no.
Yes, usually. If you play provincially regulated Canada online casino games, all wagers are in Canadian Dollars. If you choose to play at internationally regulated websites, some of them do offer CA$ deposits and withdrawals. Be sure to skim over the banking options and payment details to see if it’s available.
The major benefit to online casino gambling in Canada’s own currency is the avoidance of foreign exchange rates. Although relatively inexpensive, currency exchange fees do add up over time, taking away from cash that should be part of your bankroll.
If you’re wondering how long it takes to process online casino deposits, it’s safe to assume you’re new to the iGaming community. Don’t worry, we’ll answer all your depositing time frame questions, and maybe a few others along the way.
IMPORTANT: Before I go on, assuming you are new to real money online casino games, please heed this warning. Only register an account and deposit with reputable, well-established gambling sites that are licenced, regulated and in compliance with the highest security and player protection standards. Join a brand new or disreputable site that’s licenced in some lax jurisdiction like Costa Rica, and you’ll have no trouble depositing, but you may hit a brick wall when it comes time to cash out!
How Long do Online Casino Deposits Take?
The truth is, the time it takes to process a deposit depends on the payment method you use. Some can take a few minutes, others a few days. Fortunately, most are instant, appearing in your account within seconds of submitting the funds. We’ll briefly review the most common payment methods, and the time it takes to process online casino deposits.
Credit Card Deposits
Visa and MasterCard are accepted by almost every online casino on the market. Some also accept AmEx and Discover, though these sites are rare. The time it takes to complete a deposit depends entirely on the time it takes the credit card company to approve the purchase. Most often, it’s about a minute; up to 3 minutes at most.
Debit Card Deposits
Thanks to electric fund transfer (EFT) technology, debit card purchases are instant. As soon as you press the button, the payment info is sent to your bank, which immediately checks to see if the necessary funds are available, then responds with a yes or no. It’s all electronic, so we’re talking a matter of seconds here.
The funds won’t actually arrive in the casino’s bank for a few days. But the beauty of EFTs is, since the operator knows it’s coming, they grant player’s access to the money immediately.
Prepaid Gift Cards and Vouchers
Prepaid cards, gift cards and vouchers work the same as credit cards. It takes about 1-3 minutes at most to verify that the funds are available before the deposit is approved.
Instant eCheck / Instant Bank Transfer
Instant eChecks are an electronic version of paper checks. Instant Bank Transfers are essentially the same thing, but do not require the check number from a paper check. Both are sent via EFT, and require the player’s bank account number, along with the bank’s name and routing number. Being EFTs, they are both processed instantly.
Web Wallets
Web wallets (aka eWallets or online payment processors), include companies like ecoPayz, EntroPay, PayPal, Neteller, and Skrill. They create a link between the player and their personal bank account, allowing players to deposit funds to the eWallet, or transfer them to the casino direct from their bank. Web wallets are a very popular among online casino players. Not only are they an instant deposit option (using EFT technology), they are also eligible for withdraws. Most will even supply their members with an ATM card for instant access to their money following a cashout.
Bank Wire
Bank wires can be slow, and expensive. Unless you have no other option, this probably isn’t the best way to go. Wire transfers usually take 2-3 business days to arrive at the online casino’s bank. Some operators will go ahead and grant you access to the funds, so long as they are assured the money is on the way (similar to EFT). Check the details on the casino’s banking page before using this method.
Check by Mail
Virtually no one uses this method anymore; at least not for deposits. Withdraws yes, when time isn’t of the essence, but that’s about it. It is still an option at some gambling websites, though, so we’ll include it here. An international casino can take 2-3 weeks to receive this form of payment. So if your purpose of researching how long online casino deposits take is to find something quick, don’t choose this one!
Reliable and reputable casino banking options for the masses.
It’s been scientifically proven that, when given an abundance of options, we have a much harder time making a decision. If vanilla and chocolate are the only ice cream flavors on offer, we have no trouble picking one. But when there are 30+ flavors on the menu, our brains can’t seem to decide which we’d like best.
The same thing tends to occur these days when looking over the casino banking options at an online gambling website. In the old days, when credit/debit cards and bank transfers were the only choices provided, it was simple.
Now we have credit cards, debit cards, prepaid cards, e-vouchers, instant checks, bank wires and cash transfers. And what about all the online payment processors (aka e-wallets), like Skrill, Neteller, Eco, PayPal, etc?
So many options! It’s hard enough to pick one as it is. But all we really need to know is which casino banking options are reliable and reputable. So long as we know our money, and our identity, is safe, all it comes down to is choosing the most convenient method of deposit.
Reliable & Reputable Casino Banking Options
We’ll take a look at the most common casino banking methods, and what makes them a reliable and reputable means of moving cash in (and out) of online gambling sites.
Credit Cards: Credit card companies have spent decades enhancing their security systems. They also have multi-million dollar insurance programs in place to ensure that if a user’s identity is stolen, all funds will be returned to the card holder (following a brief investigation, of course). The only negative here is that you can’t withdrawal beyond the limit you’ve deposited.
Debit Cards: Being linked straight to your bank account, debit cards won’t let you overspend. This is perhaps the most popular of all casino banking options. The banks that issue them have the exact same insurance policies to protect players from fraudulent activity. Some banks, however, won’t facilitate a payment associated with a gambling website, especially if it’s considered illegal in your jurisdiction.
Bank Transfers: Just like using a debit card, deposits come straight out of your bank account, and withdrawals go back into them. Cash outs take some extra time to process, but they are perfectly safe, secure, and insured.
Instant Checks: Also known as eChecks or ACH deposits, instant checks are exactly like writing a paper check. You input the account number and bank’s routing number from a paper check (the casino will guide you through this) and you’re all set. You can’t use this method to withdrawal, though.
Cash Transfers: Although they are a bit more expensive and time consuming, cash transfers are one of the safest casino banking options. Western Union and MoneyGram are the most common options. You’ll have to gather the recipient information from the casino, then visit an agent to set up the transfer, but by the time you get home the money should be in your account.
eWallets: Online payment processors enforce very strict security measures, and are great for streamlining both deposits and withdrawals. You won’t have to share your financial info with the casino, either. You link your credit/debit card or bank account to the eWallet. When making a payment, you’re redirected to the online payment processor for login and confirmation.
Reliable and Reputable Casino Operators
It’s not just the casino banking options you have to worry about. The operator you choose to deposit with has to be reliable and reputable, too. Go with one that’s been around for many years and has no recent customer complaints circulating.
When using any of the casino banking options, look up at the URL. Does it start with https://? If so, you know the payment is secured with sophisticated data encryption technology. If not, immediately close the page and find a different casino.
If you’re just now wondering if you can really play online casino games for real money, you may be surprised to know a few things. First of all, yes – you really can! And second, people have been doing it for more than two decades.
The first real money online casino games appeared in 1996, and the industry has only progressed—much for the better—since then. Now, you can play online casino games for real money on any desktop or laptop computer, as well as all smartphone and tablet devices. If you can get an internet connection, you can play.
There are three main steps to playing online casino games for real money. You need to be able to make a deposit, navigate the games menu, and request a withdrawal.
Funding Your Account
Before you can play real money online casino games, you must first fund your bankroll. Once you’ve registered an account, you’ll be asked if you want to make a deposit. Make your way to the Bankingsection and choose to Deposit.
You’ll have a number of payment methods to choose from. These will include basic options like credit and debit cards, prepaid cards, gift cards, etc. Online payment processors often include Neteller, PayPal, Skrill, and a few others. Bank transfers and instant eChecks are also common.
Select the method that suits you best, follow the instructions, and your account will be funded in no time. You’ll be offered a sign-up bonus as well, maybe 100% up to $100 or better. Be sure to read the terms of the bonus first so you can take full advantage.
Playing The Games
With cash (and a nice bonus) in your account, it’s time to play. From the lobby, look for the Games tab. They’re usually segregated by type, such as Slots, Table Games, Progressives, Video Poker, Casual Games, etc.
Because the slots menu is so vast, it will likely have sub-categories as well, like 3-reel slots, 5-reel slots, fruit machines, and progressive jackpot games.
Click on the game you wish to play, and it will load up in a few seconds. From there, you’ll be able to click on a Help/Info link for rules and pay table information. If you’re not entirely familiar with the game, be sure to read over this section.
Cashing Out Winnings
If you get lucky, you’ll have a nice balance to cash out. If you claimed a bonus and made some money off it, make sure you’ve completed the wagering requirements first, or the bonus + winnings will be forfeit.
When you’re ready to cash out, go back to the Banking section. This time, choose the Cashout or Withdrawal option. Select your preferred method of withdrawal. In some cases, you must use the same method you used to deposit. If that’s the case, you’ll be instructed to do so.
Once the method is chosen, simply enter the amount to be withdrawn, follow any other directives, and submit the request. The time it takes to receive your cash will vary depending on the method of choice, but you can expect to wait 2 days minimum. Almost every online casino requires a 48 hour waiting before processing.
eChecks are a great way to get money into gambling accounts. They only require you to have a bank account or even a web wallet, and they are as safe as can be. As a result, eChecks have become one of the most popular methods to gamble online in Canada. And when it comes to Canadian sportsbooks that accept them, Sports Interaction stands head and shoulders above the rest.
Sports Interaction is actually licensed here in Canada and is devoted to the Canadian market. It offers markets on sports that Canadians love, but sports that aren’t always covered by other sites. What’s more, because it is licensed here, you know that you are gambling legally, safely and within the confines of Canadian law. With so much ambiguity around surrounding these laws at the moment, that’s a good thing to know.
What is Sports Interaction?
Sports Interaction was launched way back in 1997. It classes itself as an all-in-one gambling destination, which is to say that it offers all forms of gambling under one virtual roof. Sports Interaction is a leading Canadian sportsbook and casino and is regulated both within this country and Jersey, which allows it to offer its services to players across Europe and further afield.
Sports Interaction was once open to US players as well. However, they stopped allowing them to join in 2013, with only those who had accounts prior to that date still allowed to play on the casino and use the sportsbook.
eCheck Bonuses
Sports Interaction have often been criticized for not offering bonuses as big as some of their rivals in Asia and Europe. And to some extent this is true. However, they have upped their game a lot in the last few years and the bonuses on Sports Interaction now far exceed what you can get on sites like SkyBet and BetFair, two of the biggest betting sites in Europe.
Sports Interaction announced a $100 Betting Bonus in 2017 that all new players were welcome to. There were terms and conditions attached to this bonus, of course, but there was nothing you wouldn’t expect.
This bonus is also available whether you use a credit card, a debit card or an eCheck to deposit. One of the many issues gamblers have with sportsbooks and casinos is that they try to funnel players toward a certain payment method by limiting the deposit bonus to those methods. That’s not the case with Sports Interaction. You choose whatever method you like and they give you the welcome bonus—simple as that.
eChecks to Withdraw
eChecks are not best suited to withdraw with. In fact, many gambling sites won’t let you use them. They are a great deposit method, but when it comes time to collect your winnings you’re much better off using an alternative method. Luckily, on sites like Sports Interaction you have many of these to choose from.
You can use any of the following methods to get your winnings:
I’ve long considered Skrill to be one of the best Canadian casino deposit options on the market. But with the parent company, Paysafe Group (which also owns Neteller) changing the rules for its immensely popular Prepaid MasterCard, that may no longer be the case.
This prepaid card, commonly referred to as the Skrill Card, is a physical, plastic card that all Skrill members could apply for. They’d have the card within days, and could use it to directly access the funds in their Skrill account, using it online or at any land-based retailer that accepts MasterCard. They could even withdrawal the funds at most ATM machines.
This was a Godsend, because, even though most Canadian casino deposit options are instant, withdrawals rarely are. The Prepaid MasterCard gave internet gamblers one of the only instant withdrawal options on the market. As soon as their online casino processed a cashout request to Skrill, the funds would become instantly available through this prepaid card.
It was enough to overlook the relatively high fees charged by Skrill to use its service. These include a $10 annual fee for the Skrill Card, 1.9% fee on all credit/debit card deposits to Skrill, 1.9% fee to send money, plus a $7.98 fee to withdrawal funds to a bank account (eliminated by the use of the Skrill Card).
But alas, Paysafe Group announced just last week that, as of today, November 25, 2016, Prepaid MasterCard services would no longer be available in over 100 countries. Only a few specific countries were named in the announcement, including Australia, Brazil, Columbia and New Zealand. Whether Canada would be effected was unknown at the time.
But now, the truth is out. The Skrill Card FAQ page has been updated with a cute little asterisk mark that notes:
“*Skrill card is only available to residents of authorized Single Euro Payments Area (SEPA) countries.”
As the full title implies, SEPA Countries are, obviously, all located in Europe. There are 34 of them in all, consisting of 28 European Union (EU) member states, 3 members of the European Economic Area (EEA), and 3 states that have agreements (but not full membership) with the EU.
Complete List of SEPA Countries in 2016
Austria
Hungary
Poland
Belgium
Iceland
Portugal
Bulgaria
Ireland
Romania
Croatia
Italy
San Marino
Cyprus
Latvia
Slovakia
Czech Republic
Liechtenstein
Slovakia
Denmark
Lithuania
Slovenia
Estonia
Luxembourg
Spain
Finalnd
Malta
Sweden
France
Monaco
Switzerland
Germany
Netherlands
United Kingdom
Greece
Norway
Clearly, the Skrill Card is no longer available to Canadians.
Neteller Net+ Prepaid MasterCard Out Too?
It’s widely assumed that Neteller’s Net+ Prepaid MasterCard will suffer the same fate, sooner or later. The email from Paysafe Group that went out to countless customers recently only indicated that Skrill Prepaid MasterCard would no longer be available in many countries. But being the parent of both companies, and with both cards being issued through MasterCard, why alter one and not the other?
Mystery Behind MasterCard Elimination
The company gave absolutely no indication as to why it pulled Prepaid MasterCard from all but SEPA countries, but I have a theory.
The SEPA was established to create a cheap – most often free – means for European states to make quick payments for customers and merchants alike. SEPA actually eliminates the traditionally high fees associated with bank wire transfers. And, as of November 2017, SEPA payments will all become instant. So essentially, it’s an area where payments are fast and cheap, and could save Paysafe Group a lot of money in the long term.
Now let’s look at MasterCard’s role in Canada. For years, MasterCard deposits were free. Then today, out of nowhere, a Canadian forum member posted that he’d been trying to use a prepaid MasterCard to make a $200 deposit at an online casino, but it kept getting declined.
He called up MasterCard to ask why, and was told the company is now charging a minuscule fee for deposits. In his case, it was only $0.37, but that was $0.37 more than his prepaid card had on it.
I think there’s a connection here. If MasterCard started charing customers more as of today, it would make sense they are charging card issuers like Skrill more, too.
Today, November 25, Skrill Prepaid MasterCard is shut down in Canada, and today, Prepaid MasterCard deposits require a fee? It would certainly seem Paysafe Group new about the upcoming changes to the credit card company’s fee schedules, and revoked use of the card in non-SEPA countries to avoid paying whatever new fees they were surely about to be assessed.
Best Canadian Casino Deposit Options
Since Skrill’s biggest attraction was its instantaneous withdrawals, Canadians who don’t want to pay the relatively higher fees may want to try one of these alternative methods.
Neteller eWallet
Again, we have to assume the Net+ Prepaid MasterCard will eventually be stripped from Canada as well. But for now, it’s still available, making Neteller a great option, similar to what Skrill was 24 hours ago.
If my theory above is correct, perhaps Paysafe Group is keeping the Net+ Prepaid Card on Neteller to see how the new fees effect their bottom line. If it doesn’t cause too much of a dent, the withdrawal option may stick around after all.
eCheck, ACH, InstantCheck
eChecks have always been one of the top Canadian casino deposit options. They are the electronic equivalent to writing a paper check, but without the elongated wait time. They are instant, just like eWallets, and all it takes to use one is to enter the bank’s routing number and the user’s bank account number (the same info that appears on a paper check).
In many cases, you can use this method for withdrawals. However, it can take a few extra days for the bank to process the funds. In reality, it takes a few days for the online casino to receive the funds, as well, but because eChecks are instantly verified (to make sure the money is available in your bank), the operator will go ahead and give players access to those funds, despite the fact that they haven’t received them yet.
With cash (and a nice bonus) in your account, it’s time to play. From the lobby, look for the Games tab. They’re usually segregated by type, such as Slots, Table Games, Progressives, Video Poker, Casual Games, etc.
Editor’s Rating:
Again, we have to assume the Net+ Prepaid MasterCard will eventually be stripped from Canada as well. But for now, it’s still available, making Neteller a great option, similar to what Skrill was 24 hours ago.