Interac Sports Betting – the preferred method for sportsbooks

Interac is the most widely used payment method in Canada.

Expanding its range in products from Interac e transfer to now include Interac Online, Interac Debit and Interac Flash, it’s indicative of how popular it is.

Unknown to many, Interac is also available for betting on Canadian sportsbooks.


Why use Interac

There are various reasons to choose Interac to make a deposit at a sportsbetting site.

Safe and secure – you will not be able to find a more safe and secure payment method for Canadians. Interac is built by Canadians for Canadians, therefore integrated with the financial institution network of transfers. It is tried and trusted, with a well deserved reputation.

Efficient and effective – within minutes (and I am serious), your deposit can be shown on your betting account held with the sportsbook. The speed cannot be surpassed by other providers, because only Interac is integrated with the Canadian banking network. It is also super easy and simple. With only a few clicks, you will be able to transact the deposit. There are no complex or confusing steps.

Commonly supported – it is the most supported payment method in Canada. Hence, all sports betting sites (and casino sites) are now offering Interac as a deposit method.

Debit facility – a transaction will only be made if there are sufficient funds. In this regard, Interac behaves just like cash. It won’t allow you to go into credit, and it is as seamless as cash.

Low transaction fees – it has one of the lowest transaction fees. Because it is extremely popular and widely used, Interac is able to keep transaction fees to a minimum.

Canadian developed – patriotism is a good thing! And in this day and age, we strong encourage you to support Canadian services and products.


Interac Payment Methods

Interac as a large range of payment methods available. With its popularity, it has expanded their offerings to include: Interac Online, e Transfer, Debit and Flash.

Interac Online

The preferred method to make a deposit. It if the quickest and easiest to perform. Interac online is connected to a debit card. Unfortunately, not all financial institutions have signed up to Interac online to allow their debit cards to flow through the system. Customers of CIBC and Scotiabank, won’t be able to use Interac online, but they can use the other proceeding methods.

Interac e Transfer

By far the most used digital payment method in Canada. Everyone uses it, from personal transcactions, to e-commerce. The protection and security by far exceeds may other forms of digital payment, yet it is simple and intuitive.

Interac Debit

Very similar to Interac online, but rather than going through a Gigadat gateway to extract the card details, the player enters the card details directly on the sports betting sites portal.

Interac Flash

The mobile version of Interac. It enable card details to be stored on the mobile device, therefore enabling a deposit like Interac debit.


Best Interac Sportsbook deposit method

Often we are asked, which Interac method is the best one to use? To be honest they are all good, but by far the easiest to use is Interac Online. The only downside is that it is not as widely supported as Interac e transfer and users don’t know their financial instutition supports it or not.

Rather than looking up a list of approved and supported financial institution, the quickest way is to simply give it a try. It only takes less than 1 minute to see if it works, and if it doesn’t there is no skin off your back.

If unsuccessful with Interac Online, then move on to Interac e transfer. It’s a tried and proven method, the most supported of all Interac methods, and many users are familiar with already using it.

That said, we have create a couple of simple guides for you to follow.


Interac Online – the preferred deposit method

  1. Choose from our recommended Interac Sportsbooks
  2. Create a betting account
  3. Go to the Banking page and click on the Interac Online option.
  4. Enter the deposit amount.
  5. Select your Financial Institution (FI).
  6. Log in to your FI, and click send.
  7. Wait a few minutes and your ready to place a bet!

Interac e Transfer – the more widely supported deposit method

  1. Choose from our recommended Interac Sportsbooks
  2. Create a betting account
  3. Go to the Banking page and click on the Interac e Transfer option.
  4. Enter the deposit amount.
  5. Record the Recipient, Recipient Email and Message Code.
  6. Log in to your FI.
  7. Choose the Interac e Transfer payment method and select your preferred account.
  8. Create Recipient with Recipient Email, Paste in Message Code and type in the deposit amount.
  9. Click Send Money / Pay / Make Payment.
  10. Wait a few minutes and your ready to place a bet!

Interac Online vs e Transfer

As you can see, Interac Online has slightly less steps than Interac e Transfer. It therefore limits the possibility of errors that could be found with the e Transfer method. Examples include: wrong Recipient, Recipient Email or Message code.

It it therefore strongly recommended to try Interac Online first. Admittedly not all banks and credit unions support Interac Online, but the process takes less than 1 minutes, so first give this a try and see if it works.

If it doesn’t then go to the more widely supported Interac e transfer method. Still just as easy and efficient, but an extra minute to complete.


Other Payment Methods

There are limited other payment methods for Canadians when placing a deposit at a sportsbook.

American Express – Amex is gradually losing ground in the market. With an annual card fee for users, and a relatively high interest rate charge when going into credit, it’s hard to putforward using Amex as an online payment method at all. Having said that, it too is relatively easy to process via entering the Amex card number and code at the online sportsbook banking section.

PayPal – globally known and used, it unfortunately is not widely supported by online sportsbooks in Canada. It also has higher transactions fees than Interac not only for the user but also for the online sportsbook.

Bank Transfers – easy and widely supported, and also safe and secure. The let down is that it could take several business days for the deposit to be received by the online sportsbook, and then applied to your bank roll. Charges by banks and credit unions are also higher than Interac.

VISA / Mastercard – still quite popular among Canadians, and is widely used in e-commerce. The fees are comparable with Interac, and the easy and efficiency is just slightly slower than Interac (though negligible). The only slight negative, is that you are using credit to bankroll your betting. A golden rule for gambling is to never use credit, as it is a poor habit of managing your finances.


FAQ

Why choose Interac Sportsbooks?

Interac is the best option to make a deposit at Canadian sportsbooks. It is safe and secure, quick and efficient, and has lower transaction fees. It is also a Canadian developed payment method that is integrated with the banking network.


Should I make a deposit with Interac Online or Interac e-transfer?

We highly recommend trying Interac Online first. We say try, because not all banks and credit unions support Interac Online. It only takes a minute or two, and if unsuccessful then use Interac e-Transfer. e-Transfer has a few more steps than Online, but is just as quick, safe and secure.


Is it legal to use Interac to bet at sportsbooks?

Yes it is legal. Interac is a widely used digital payment platform, and therefore can be used to make deposits to online sportsbooks.


How do I process an Interac Online deposit at a sportsbook?
  1. Choose from our recommended Interac Sportsbooks
  2. Create a betting account
  3. Go to the Banking page and click on the Interac Online option.
  4. Enter the deposit amount.
  5. Select your Financial Institution (FI).
  6. Log in to your FI, and click send.
  7. Wait a few minutes and your ready to place a bet!

How do I process an Interac e transfer deposit at a sportsbook?
  1. Choose from our recommended Interac Sportsbooks
  2. Create a betting account
  3. Go to the Banking page and click on the Interac e Transfer option.
  4. Enter the deposit amount.
  5. Record the Recipient, Recipient Email and Message Code.
  6. Log in to your online banking.
  7. Choose the Interac e Transfer payment method and select your account.
  8. Create Recipient with Recipient Email, Paste in Message Code and type in the deposit amount.
  9. Click Send Money / Pay / Make Payment.
  10. Wait a few minutes and your ready to place a bet!

Can I use Interac to make a deposit for eSports?

Yes, you can. Many of the sportsbooks also offer esports (in addition to their traditional sports) to place bets on.