Betting online in Canada is slightly more complex than it is in other parts of the world, mainly due to the laws and legislation written by the government. All the top online bookmakers that do business in Canada are based offshore and, therefore, their chosen currency will not be the Canadian Dollar (CAD). Many sites do offer the ability to bet in CAD with no exchange fees included, though. In this article we will discuss all you need to know to minimize your costs for betting with your Canadian Dollars.
When you are depositing your hard-earned cash into your online betting account, you want to ensure that firstly your money is safe and protected, and secondly that you are not going to be charged to use it. Ensuring you bet with a reputable bookmaker that accepts the Canadian Dollar is essential to ensuring this happens. As we have mentioned, Canadian gambling laws dictate that almost all bookmakers that operate in Canada must be based abroad, and so their banking methods and systems will work slightly differently to those in Canada.
If you choose to bet with an online betting site that doesn’t accept the Canadian Dollar, it is quite likely that your debit or credit card will not be accepted and very likely that you will be charged an exchange fee for the privilege. Many non-Canadian Dollar friendly sites will operate in US Dollars or Euros. Not only will you be met with an exchange fee from your bank, it is likely that the online bookmaker will also add on a conversion charge. Some will charge you not only for deposits but also another charge for withdrawing. It is clear then that choosing an online betting site that accepts the Canadian Dollar is essential for ensuring your money goes the furthest, and also for overall convenience and ease.
So, let’s take a look at just some of the betting sites in Canada that accept the Canadian Dollar.
Betsson delivers a sleek and effortless online sports betting experience for users across all desktop, tablet and mobile devices. There is a wide range of sports to choose from including all the popular Canadian markets. A huge range of promotions for both new and existing customers make Betsson an extremely appealing option, while they also provide a flexible range of deposit and withdrawal methods in Canadian Dollars for players.
Betway is an international bookmaker who accepts Canadian Dollars and provides a flexible range of payment options for their customers. They offer crisp streaming of huge sports events as well as a dedicated app for mobile users. They also provide a great range of welcome promotions as well as unbeatable customer service which are both vital features.
Unibet delivers unbeatable value in their odds as well as great promotions for both new and existing customers. They accept Canadian Dollars and a huge range of options for Canadian players to withdraw and deposit betting funds. A user-friendly design makes their website very appealing while their streaming service is also a brilliant feature as well.
Hugely popular with Canadian bettors, LeoVegas offers a comprehensive betting experience. A great selection of sports with innovative and fun markets is available while they provide a safe and secure platform for Canadian bettors to play. There is also a versatile range of deposit and withdrawal methods and of course, the Canadian Dollar is accepted.
We have already touched on a few of these but let’s look at them in more detail.
At the time of writing, you can buy $0.77 USD for C$1 Canadian Dollar according to XE.com. Looking at this a different way, $1 USD buys C$1.25.
Now if we look at Scotiabank who are one of the leading Canadian banks, they will charge customers C$1.31 to buy a US Dollar, or they will give C$1.237 if you are selling one. The gap between the C$1.31 and C$1.237 is the conversion fee that is being applied to your exchange. As you can see from our initial exchange rate, the actual international exchange rate is much closer to the lower value. Not only do you have to consider this, but you also have to consider charges that the bank or bookmaker may apply for the transaction occurring as well.
It is always worth taking into account the banking methods that are available to you when betting in the Canadian Dollar. Across the globe there are many different preferred deposit and withdrawal methods, with each individual bettor having their own preference. In Canada most of these will be widely available, but there will be some additional methods you may not have encountered before and there will also be examples of popular methods that are not accepted.
PayPal is the world’s most popular e-wallet; however, it does not allow Canadians to use it for their online betting despite what you may read elsewhere online. Other e-Wallets such as Skrill and Neteller are also unavailable for Canadian bettors, although there are plenty of user-friendly alternatives that are available. These include the likes of ecoPayz, Instadebit and iDebt, with the latter two allowing both deposits and withdrawals in Canadian Dollars. As you would expect almost all Canadian betting sites will accept debit and credit cards, CAD bank transfers or e-cheques, while you can also opt to use Paysafecard with Canadian Dollars, too.
It is worth being aware of EntroPay, however, and you should show some caution when using it. It is often advertised as being a CAD payment method but EntroPay is only available in US Dollars, the Euro or the British pound, so you would have to pay exchange fees. You would in fact have to pay double the exchange fees if you had a Canadian bank account and were betting in Canadian dollars. Firstly you would be charged from CAD to an accepted currency on the EntroPay card, You would then be charged again for moving funds from your EntroPay card to your Canadian betting account. Wherever possible, it is always most cost and time effective to use a banking method that accepts free and direct Canadian dollar transactions.
As we have previously touched on, there is a huge number of betting sites that operate and accept the CAD. Typically, they behave in exactly the same way that any other bookmaker would operate.
There will be a huge range of sign-up offers and promotions to entice users in to try the new platform. These will largely come in a form such as ‘Bet C$10 and get a C$10 bet free’. If you are depositing in Canadian Dollars, your bonus or free bet will also be available in the same currency. There will be similarly appealing offers available to Canadian bettors who have an affinity with a specific betting site in the form of a loyalty bonus. These can come as free bets or reload offers, which is where your balance is topped up in Canadian Dollars with a percentage of the funds you have deposited. Betting companies will want to keep hold of all their valuable customers and so they will continually provide promotions and offers in Canadian Dollars to get them coming back for more.
There is also a huge range of sports and markets to wager on at Canadian betting sites. These range from your typical sports such as ice hockey, baseball, football or soccer, to more niche markets of sailing, Gaelic sports or even chess, making a huge range of options readily available for Canadian bettors. Many Canadian sites also offer the chance to play casino games and slots, just in case you ever fancy a change pace. With that being said, you can be sure Canadian betting sites are about as diverse and vibrant as they come, and they continue to provide a wealth of options available to Canadian punters.
Playing in Canadian Dollars can bring the same online betting experience as using the likes of the US Dollar or the Euro. In the whole, most international bookmakers who operate in Canada have adapted their methods to allow Canadian players to enjoy a seamless experience with zero or minimal charges. While there are some operators out there who will charge notable exchange and transaction fees, nearly all of the big players will offer Canadian players the option of depositing and withdrawing in Canadian dollars, leaving you with plenty of options to choose between.
Thankfully, there is also a wealth of options to choose from when it comes to banking methods for the Canadian Dollar. While you have to be aware that some e-wallets such as PayPal, Skrill, and Neteller don’t operate in the Canadian betting market, there are viable alternatives and a huge range of other banking possibilities that you should consider. Ensuring that you use a payment method that accepts the Canadian Dollar will alleviate you from any transaction fees and make your overall strategy more profitable.
Betting sites in Canada operate exactly as they would in other parts of the world. They are able to facilitate bonuses and promotions in Canadian dollars, as well as provide a vast array of markets and sports for bettors to choose from. Simply put, Canadians who choose to bet using the CAD will benefit from the same efficient and enjoyable betting experience as those from the United States or Europe.
The official currency in Canada is the Canadian dollar and many online bookmakers will accept it as a form of currency without any exchange costs. However, due the betting laws in Canada, bookmakers are not native to Canada and are internationally owned, so a wide range of other currencies including the US Dollar and the Euro will be available.
When betting in foreign currencies you can incur exchange fees which will eat into your profit. Betting in Canadian Dollars will prevent this. It can also be significantly more difficult to withdraw your winnings when using a foreign currency, so we would recommend using Canadian Dollars whenever possible.
When betting with the leading bookmakers you will almost certainly receive your bonus in Canadian dollars. The top bookmakers use geo-tagging to see where a user is playing from and will then supply the content and bonuses in the suitable currency. You can often manually choose your language and currency at some sites as well.