Our guide is here to tell you all you need to know about Interac betting sites. It’s essential reading for anyone looking to use this online banking system for their sports bets.
We have found Interac offers anyone in Ontario a flawless way of making deposits and withdrawals on betting platforms in the province. So we’ve handpicked a couple of excellent online sportsbooks that not only take Interac payments but also give you a superior sports betting experience.
Interac is simply a service that allows you to make payments over the internet via your bank. It offers an email-based banking option for many Canadians, and it can be used to purchase a range of goods and services online. This includes the ability to make deposits and withdrawals on online sportsbooks.
This is important because many other payment providers will have restrictions about things like making withdrawals from online gambling sites. So if you are having trouble using something like Mastercard or American Express on an Ontario betting site, then Interac could be the perfect solution.
All you need to have to use Interac is a bank account with one of the banks that is accepted by the sportsbook in question. You won’t need to set up any kind of account with the Interac e-transfer brand itself.
Here are some of the major reasons why so many Canadian sports fans now use Interac for their online sports betting:
Interac is a Canada-friendly payment method that allows you to make payments in Canadian dollars. This means there is no need to suffer the currency conversion fees for using US dollars. Plus, Interac is featured in the vast majority of online sportsbooks in Ontario, so you won’t be restricted in terms of your betting options should you use this payment method.
We found that the majority of our Interac deposits went through instantly for online sportsbooks. Even if there was a delay, it never took longer than 15 minutes for the money to go through. Plus, Interac offers fast processing times for withdrawals, too. While there might be a delay for the necessary authorization checks, most Interac withdrawals will go through in just a couple of working days.
One of the best things about using Interac is the sheer flexibility that it gives you in terms of the size of your deposits and withdrawals. You won’t have to deposit or withdraw a huge amount as you would with a wire transfer, and the maximum deposit and withdrawal thresholds are frequently higher than that of e-wallets and prepaid cards.
It’s also worth noting that no decent online sportsbook will ever charge you fees for using Interac. This means you can make your Interac deposits and withdrawals without it costing you a single cent. Just remember to check with your bank to ensure there aren’t any fees for making payments to and from online gambling sites.
You’ll love just how easy it is to use Interac to make a payment from your bank account to an online sportsbook. Here is a step-by-step guide for what you need to do:
Once this is done, the funds should be instantly transferred to your sportsbook account so you can start betting without delay.
The good news is that it’s even easier to make a withdrawal via an online sportsbook than it is a deposit. Here is what you need to do:
We’ve found that it’s actually pretty hard to find any legal betting site in Ontario that doesn’t feature Interac among its payment methods. This doesn’t necessarily mean you should sign up to the first Interac sportsbook you see as there can be quite a lot of variance in terms of the quality of these sports betting platforms.
So we have handpicked two of the best Interac sportsbooks in Ontario and created the following table to help you see how they compare in terms of their deposit and withdrawal procedures.
|Sportsbook||Minimum Interac deposit||Deposit processing times||Minimum and maximum withdrawal limits||Withdrawal processing times||Charges for Interac payments|
|BetMGM||$10||Instantly||$10 - $25,000||Up to two business days||No|
|FanDuel||$10||Instantly||$10 - $25,000||Three to five business days||No|
The above table shows you that there is very little difference in terms of how top sportsbooks like BetMGM and FanDuel handle your Interac payments. As such, it’s a good idea to get to know these sportsbooks a little better.
So, here are two quick mini-reviews that’ll help you figure out which of these sportsbooks is best for your Interac betting needs:
BetMGM gives you a great example of what you should be looking for in any Interac betting site. It gives you a massive list of banks that let you make deposits via Interac, and from here, you can enjoy BetMGM’s excellent sports betting platform.
All Interac deposits can be made in Canadian dollars without any charges, and you should find that most payments will be made instantly. The brand gives you a simple way to check the status of your deposit, and once you’ve made some winnings, you can then withdraw back to your account via Interac. BetMGM pledges to process your withdrawals within one to three working days, and the payment should come through within eight hours of the brand authorizing your payout request.
Everything else about BetMGM is exceptional. This means you can browse a massive number of betting lines for a huge range of sports, and apply some excellent odds boosts to get more from your winning bets. Plus, we loved the extra features that BetMGM had put on like the Edit My Bet function. Sign up to BetMGM, and you’ll see why this is such a highly regarded Interac sportsbook.
Everyone knows that FanDuel is one of the hottest online sportsbooks in Ontario, and the good news here is that it takes Interac deposits. This means you can simply sign up to FanDuel from anywhere in the province and then transfer funds instantly from your bank via Interac.
From here, you’ll be able to enjoy all of FanDuel’s famously competitive odds and then make a withdrawal back via Interac. FanDuel has decent limits for Interac withdrawals that range between a minimum of $10 and a maximum of $25,000. Just note that it might take between three and five working days for your Interac withdrawal to go through.
Elsewhere, you will find that FanDuel gives you a superior sports betting platform. Not only will you find great odds for anything from the NHL to the NBA, but FanDuel also outclasses its rivals when it comes to things like same-game parlays. Plus, with iGaming Ontario licensing and quality customer support, you should feel very well taken care of here. Register your FanDuel account and enjoy a better way to bet on sports.
So if Interac is so good, then why do online sportsbooks let you use other payment methods? Here are a few reasons to think twice before automatically using Interac as your preferred payment option:
Interac is only available for residents within Canada. So if you travel outside of Canada, you will need to find a different payment solution.
It’s also important to note that not all banks in Canada currently support the Interac payment technology. Plus, even those banks that do accept Interac might not allow their services to be used with online gambling platforms.
If you don’t have a bank account, you won’t be able to use Interac. Thankfully, there are other payment methods available such as prepaid cards that offer you an alternative way of funding your sports bets.
While most Interac withdrawals can be pretty fast, they aren’t the fastest around. After all, we have seen many e-wallets offer payout speeds that come through in just a few hours. Just note that these e-wallets will come with their own disadvantages such as limited availability and so on.
Our guide has shown you that there is plenty of choice in terms of Interac betting sites and each of them should give you safe and efficient ways of funding your sports bets. Not only that, but you can even make a swift withdrawal via this payment method for whatever you win.
Of course, there are many other payment methods out there that can be used at online sportsbooks in Ontario. So be sure to check out our resource to see if any other payment provider could rival what you get when using Interac for your online sports bets.
Yes, you can bet online in Ontario. Read our guide to Interac betting in Ontario to see why this is one of the best sports betting payment methods.
Not only will we show you the top Interac betting sites, but we’ll reveal why BetMGM and FanDuel have created some unbeatable Interac betting apps. Perfect for enjoying the best in single game betting in Ontario.
Yes, there are lots of Interac betting sites that you can access from anywhere in Ontario. There are even more of these compared to PayPal betting sites in Ontario to make sure that you always have plenty of choice in terms of how you fund your bets.
It’s pretty easy to get a login at any Interac betting sites as you usually just need to fill in the registration form with your personal information. Just note that you’ll probably be called upon to verify this information later on with some photo ID.
Our guide has found that the BetMGM and FanDuel apps give you perhaps the best way to enjoy Interac betting in Ontario. Perfect for anyone who wants to enjoy a more convenient way to bet on their favourite sports.
Players must be 19 years of age or older to reach the minimum age for gambling in Ontario. Please play responsibly - Gambling can be addictive. Bet with your head, not over it. If you or someone you know has a gambling problem, and wants help, call or visit: (a) www.igamingontario.ca ; or (b) www.connexontario.ca .
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