Canadian Dollars Casinos
History of CAD
For those unfamiliar with the monetary situation of the American north, the Canadian Dollar is Canada’s official currency. It was introduced as such back in 1858 and has cemented itself as the national currency in the years after. As you might have expected, the main unit of the currency is 1 CAD, with the subunit being 100 cents. The currency has both banknotes and coins, boasting five of each. These include a $5, $10, $20, $50, and $100 bill, along with 5c, 10c, 25c, $1, and $2 coins.
The Canadian Dollar might not be as well-known as its counterpart from the United States of America, but it’s still one of the most influential currencies worldwide. It has a pretty good reputation, thanks to Canada’s stable economy and strong central government, and it’s widely used in the world of online gambling.
Safe Casino Deposit Methods that Accept CAD
As we already mentioned, the Canadian Dollar is widely used in online gambling circles. It’s no secret that plenty of Canadians are fans of online casinos and the fun they bring with them, so it makes sense for their national currency to make its way into popular gambling operators! Of course, not all casino deposit methods are CAD-friendly. Many don’t offer the option at all, while others are limited in one way or another. Because of this, we’ve made a list of the top safe casino deposit methods that accept CAD:
- Interac: Canadian players are among the lucky few with the privilege to use Interac in online casinos. The banking option is often exclusively available to Canadian users most of the time. One of the best things about using Interac is its simplicity. Unlike most other methods these days, players needn’t bother with separate logins and passwords. The method is linked to your bank account, so all you need to do is enter your details to make a transaction. What’s better, the method has fixed fees for all deposits and withdrawals!
- VISA: Most Canadian players will be happy to see VISA on this list. VISA is one of the oldest and most widespread banking options out there. As such, it’s incredibly safe! Of course, VISA is a traditional bank card. It’s worth noting that if you’re using it for online payments, you’ll be sharing some personal information with the casino of your choice.
- MasterCard: Much like VISA, MasterCard is a well-established traditional payment option that’s used worldwide. There are very few cons to using MasterCard as a deposit option with CAD as your preferred currency. You can expect safe transactions that are usually quicker than most. Of course, the drawbacks of using a bank card are also something to keep in mind. Mainly, this includes sharing personal info with the casino.
- iDebit: iDebit is a Canadian payment processing service that’s still making a name for itself. While it might not be the most popular option on this list, it’s one that most users will appreciate. The biggest pro of using iDebit is the speed and convenience. Users can deposit instantly with this option, bypassing the need to create an account. While this can be a great advantage, it’s worth mentioning that creating an account might save you a few CAD in fees.
- InstaDebit: InstaDebit is another local Canadian service, but unlike iDebit, it’s a pretty well-established one! InstaDebit offers users two options. They can use it for direct transactions from their bank account or as an e-wallet! Both have pros and cons, but the e-wallet service is significantly faster! Players should expect fees when banking with InstaDebit, but given the company’s top-notch service, these fees are very small.
Gambling Restrictions for CAD
Like in most of the world, gambling has always been a hot topic in Canada. Of course, the situation with gambling regulations is a bit trickier there than in most countries. Since Canada consists of several provinces, there are discrepancies in how they deal with gambling-related issues. While most take a different approach, here’s what you need to know.
Canada is somewhat of a grey zone when gambling restrictions are in question. The country itself doesn’t issue licenses, nor does it regulate online casinos in the area. The good news is, things are much laxer than they are for their neighbor, the USA! Unlike players from the USA, Canadian players are accepted in most online casinos, and it’s perfectly legal for them to enjoy these entertainment venues! What’s better, many of them accept deposits in CAD. Sure, you might be expected to pay some conversion fees, but this isn’t too much of an issue.
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