In the never-ending race to target as many potential customers as possible, gambling companies aim to provide a complete experience in which every detail is customized to fit that particular customer's needs. Consequently, the number of payment methods supported by Canadian casino websites is constantly growing. Having one or two payment methods is no longer enough. Casinos of the 21st century often include more than a dozen options, and in this article, we discuss the most popular ones.
Although players are shifting towards digital payments, the traditional ones are still very much alive and kicking. All sorts of banking cards and wire transfers are still in high demand, especially among the older generation of online gamblers who are not fond of e-wallets, cryptos and other novelties.
The main advantage of these methods is that they are safe and widely available. Almost every adult in Canada has a credit card they regularly use, while 98% of all adults have a bank account. It is easy to see why they are the first choice for many.
At the same time, classic payment methods tend to be expensive and slow. Many online casinos impose higher withdrawal limits and extra fees for using a bank wire, which can highly affect the gambling budget. An average withdrawal for cards and bank wire hits the 7-day mark, and nowadays, players want to get their hands on their wins as soon as possible.
The factors that are becoming the core disadvantage of traditional payments are turning out to be the selling points of digital and mobile wallets. They support fast and cost-effective transactions and have decent payment limits that don’t put players in unfavourable positions.
However, despite their popularity and ease of use, they have one major downside: to use it, a player must have an additional payment method they will connect with their e-wallet or mobile wallet. Also, the Canadian authorities have already tightened the noose around some of the biggest e-wallets, such as Skrill. Players can still use it, but not for gambling.
Fortunately, there are plenty of alternatives to focus on. Google Pay, Apple Pay, Eco Payz (also known as Payz), and others are filling the gap left behind by other brands.
Digital wallets and traditional payment methods serve more conservative players, while those not afraid of novelty often turn to cryptocurrencies. The latest Bitcoin casino rankings show the number of crypto casinos in Canada is on the increase.
The popularity of decentralized coins is predominant among younger generations of gamblers who seek privacy, discretion and optimized costs. Bitcoin was, and probably will always remain, the most popular coin out there, but Litecoin, Tether and Doge also have their fans. An average crypto casino will typically include both mainstream and niche cryptos.
Even though crypto casinos sound like a dream, players must be aware of the fact that many scam websites use cryptos as a disguise. Before signing up, read all the connected terms and be sure you are playing with a legit crypto brand.
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