Pros and cons of using Payz
Payz is a convenient way to manage your online sports-related payments, whether that’s funding your account, or withdrawing your winnings. Naturally, its benefits outweigh its cons, but here’s a quick look at both sides.
Pros & Cons
- Fast deposits and withdrawals
- No bank or card details are shared with sportsbooks
- Accepted at several AGCO-lisenced sportsbooks
- Supports both withdrawals and deposits
- Not available at all sportsbooks
Making a payment with Payz at your favorite sportsbook
It’s very easy to make payments using Payz as long as your wallet has funds in it or you've linked a debit or credit card. Most Ontario sportsbooks have minimum deposit thresholds set at about $10. And your funds show up almost immediately after you confirm the transfer via the app.
You won't be charged any additional fees by the sportsbook or Payz The are several accepted payment methods including e-wallets at Ontario top sportsbooks, but the main advantage this e-wallet has is that you never have to hand over your banking or card details to any sportsbook which gives bettors some form of comfort especially if you value privacy as much as we do.
Withdrawal and deposits with Payz
Using e-wallets is one of the fastest ways to make deposits and withdrawals. While some e-wallets only let you make deposits, Payz supports both deposits and withdrawals, so it's a one-stop option. Also, payments are significantly faster than traditional payment methods.
How to deposit with Payz
You just have to be sure that your preferred sportsbook accepts Payz as a payment method. If it does, the rest is a walk in the park. Just follow these steps:
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Log in to your sportsbook account or use our banners here to visit our recommended sportsbooks and create one if you're new
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Navigate to the cashier or deposit section
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Select Payz from the available payment methods
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Enter the amount you want to deposit (most sites set their minimum at $10, choose what suits your budget)
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Sign in and approve the payment when the Payz login window comes up
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Confirm the transaction in-app if prompted
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Your funds will be added to your sportsbook account right after confirmation
Withdrawals are simple too
If you deposited with Payz, most sportsbooks will also allow you to withdraw back to it without much hassle. But remember, you'll first need to complete the KYC and identity verification process upfront before withdrawing any winnings.
If everything checks out, withdrawals are usually processed faster than what you'll get with regular banking options. From what we've noticed, it takes a few hours to a day (at most) after your request is approved by the sportsbook or operator. Your Payz balance would update as soon as the payout is released on their end. Here's how to make withdrawals with Payz:
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Log in and open the cashier or withdrawal page on your chosen sportsbook
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Payz as your withdrawal option
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Enter the amount you want to withdraw (usually $10 or more depending on the sportsbook)
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Confirm the request and wait for the sportsbook to process it
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Your funds will be sent directly to your Payz wallet as soon as it’s approved
This whole process is way faster if you've already been verified, so we'll recommend getting it sorted early on.
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Payz verification requirements
You’ll be able to make small payments using your Payz account, but to unlock its full features, and withdraw winnings from sportsbooks, your account must be verified. Most Ontario sportsbooks also require proof that the Payz account actually belongs to you before they approve your first payout.
The requirements here are similar to what you’ll find at
Ontario sports betting sites accepting Visacard.
Proof of identity
You're required to submit a government-issued ID card like your passport or driver’s license.
A proof of address
You’ll be asked for a recent bank statement, utility bill or an official letter that shows your name and current address. The document needs to be a receipt received within the last three months. We must also mention that your name on the documents you submit must be the same as what you have on the sportsbook.
A selfie
This is simply to prove that you're the same person as the picture in your ID card. You should take a selfie in a well-lit room to avoid rejections.
Once these documents are approved, your Payz account will be upgraded to a higher tier which can come with higher transfer limits.
Taking a look at the history of Payz
Ontario sports betting sites accepting Payz have increased over the years, but let's take a look at the history and how this payment method has evolved over the years. Payz has a solid reputation built around privacy, speed, and reliability, and this explains why it continues to be a preferred payment option at major sportsbooks in Ontario today. However, its availability is still growing at the top sites.
| Year
|
Event |
| 2000 |
The service originally launched under the name EcoCard, offering prepaid payment solutions for online use |
| 2013 |
EcoCard rebranded to EcoPays offering a full digital wallets beyond just prepaid cards |
| 2023 |
ecoPayz officially became Payz |
| Today |
Payz is operated by PSI-Pay Ltd, regulated in the UK, and accepted at several AGCO-regulated Ontario sportsbooks |
Payz compared to other providers
Most Ontario sportsbooks give you several payment options when it comes to supported payment methods, and each one works a little differently.
Interac is one of the top choices for Canadian bettors and it's linked directly to your bank. But remember, that with Payz, there's no direct tie to your bank account. Deposits are usually instant, but withdrawals can take a day or two to come through.
Visa and Mastercard are two very popular means of payments globally. So how well does Payz compare with these options? Very well in our opinion. Most Ontario sportsbooks won’t send your winnings back to cards, even Mastercard or Visa, so you’ll need another method anyway. Payz is a perfect alternative as it supports both deposits and withdrawals. We found several
Ontario sports betting sites accepting Mastercard
too, you might want to check those out.
InstaDebit also pulls funds directly from your bank as we discovered during our review of
Ontario sports betting sites accepting InstaDebit. It works just like an online cheque. Deposits are instant, but withdrawals usually take longer since the money goes back through your bank. You may also be charged service fees but deposits and withdrawals used at Ontario sports betting sites accepting Payz are usually free.
Apple Pay is quick and convenient for deposits especially on iPhones, but that's where it stops. You can’t withdraw your winnings back to Apple Pay no matter how small, so you’ll still need a back-up method like Payz for withdrawals. That said, a few
Ontario sports betting sites accepting Apple Pay
are absolutely worth checking out. That's if you're open to other payment options.
The best Ontario sports betting sites that accept Payz
We put the best Ontario sports betting sites accepting Payz through the wrangler and found the top two that deliver what a great gaming experience should feel like, coupled with fast Payz payments. Here are the two that made the cut:
bet365 - The benchmark for next level sports betting in Canada
Bet365: Pros & Cons
- All leading sports
- Popular sports highlighted
- Large casino
- Live casino games
bet365 easily sets the standard for sports betting in Ontario, especially if you want hundreds if not thousands of sports markets. There are over 30 sports covered, from soccer and the major leagues to tennis, basketball, football, esports, and even niche markets like darts and golf. The markets are extensive too, you have access to moneylines, spreads, totals, player props, alternate lines, and futures, all with very competitive odds.
bet365 live betting is on a league of its own. Odds update almost instantly, live stats are available in-app and via the website, and you can also use the live streaming feature on select events.
Payz is supported for deposits and withdrawals at this sportsbook, with instant deposit starting at about $10 and withdrawals are usually processed within hours as long as you've completed your KYC and identity verification.
Betway - a top-tier sportsbook with rich soccer betting markets
Betway: Pros & Cons
- Diverse eSports betting options
- Advanced live betting features
- Smooth user experience
- Easy sign-up process
Betway is right up your alley if you're searching for a sportsbook with supper-impressive live betting and football markets, especially soccer. It covers all the major leagues you’d expect in Ontario, including the NHL, NBA, NFL, MLB, and CFL, but it's simply unbeatable when it comes to soccer.
There’s the bet builder feature that lets you combine match results, goals, cards, and player stats all on a bet slip. Live betting is also supported, and the odds are updated as the match unfolds. Betway also does a good job with esports in our experience. We've found markets on titles like CS2 and LoL which aren't available at every Ontario sportsbook.
Minimum deposits are also pegged at $10 which is fair, and Payz is supported for deposits and withdrawals, alongside other popular e-wallets. If you'd rather bet on the go, you can download the mobile app. It holds up well on both iOS and Android devices.
Three essential facts about using Payz
Before we wrap up this review, there are a few facts about Payz you should be aware of, especially if you’re planning to use it at Ontario sportsbooks.
💸 Payz is Perfect for Fast Deposits and Withdrawals
One good thing about using Ontario sports betting sites that accept Payz is that deposits come in instantly and you don't have to keep refreshing your balance for hours while waiting for your winnings. When the sportsbook approves your withdrawal, the funds should get to your Payz wallet the same day or within a few hours at most, depending on the operator.
🔒 Your Banking Details Are Always Private
Another plus here is that the sportsbook or seller never sees your bank or card details. Everything goes through your Payz wallet instead, so your details remain private. It's a major consideration for bettors who've chosen to use this option for sports payments.
📈 Availability Depends on the Sportsbook
Payz is supported by several top Ontario sportsbooks, but not all sportsbooks support it right now. Sites like bet365 and Betway accept Payz for both deposits and withdrawals, and are great for your sports wagers.
Conclusion - Register at Ontario sports betting sites accepting Payz
Payz has plenty of positives that makes it easily edge out other payment methods. It's convenient, fast, and private as it doesn't share your details with sites you transact with. We’ve covered a lot here, and now you're well equipped to decide if this should be your go-to payment option when playing at top sportsbooks like bet365 and Betway.
If you’re curious about how it all works or just want to experience its ease of payments yourself, use the banners on this page to sign up at bet365 or Betway and enjoy swift payments at its finest.
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Ontario sports betting sites accepting Payz FAQs
🏅 What Ontario sports betting sites accept Payz?
Several AGCO-licensed sportsbooks in Ontario accept Payz, including bet365 and Betway. Availability can vary, so it’s always best to check the cashier before signing up.
🔒 Is Payz safe to use at Ontario sportsbooks?
Yes. Payz uses strong security measures and is regulated internationally. Ontario sportsbooks also require full verification, which adds another layer of protection.
💰 Does Payz charge a fee for withdrawal or deposits?
Deposits are usually free, but withdrawal may come with a small processing or conversion fee.
