iDebit Sports Betting Sites
iDebit is one of the favoured Canadian online payment methods for sports bettors. As mentioned in our previously published article, Interac is a popular payment method utilized for playing at online casinos, but it should come to no surprise that it is also widely accepted amongst sports betting sites too. The reasons for its popularity are simple. It allows users to make payments to sportsbooks directly from their bank accounts. Through iDebit, you can make payments in CAD safely and securely without disclosing your banking details to the operator. Low fees, fast processing times, and the eligibility to claim welcome bonus offers are iDebit’s benchmark qualities. In a few minutes, you’ll discover all the essential aspects of iDebit, such as:
- Which Canadian sportsbooks accept iDebit
- Why you should use iDebit
- How to make deposits and withdrawals using iDebit
Best iDebit Sports Betting Sites
The following list includes vetted iDebit sports betting sites in Canada characterized by fast payments, competitive odds, generous bonuses, and a wide range of betting markets. Check them out and pick your favourite.
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What Is iDebit?
iDebit is a secure online payment system that lets you pay directly to sportsbooks, online casinos, and other merchants through your bank account. It’s a Canadian-based payment provider, which means it cooperates with the biggest banks in the Canadian market. The list of supported banks includes:
- Royal Bank of Canada
- Bank of Montreal
- Simplii Financial (formerly PCF)
- National Bank
- Canadian Imperial Bank of Commerce
- TD Canada Trust
iDebit serves as a payment gateway and intermediary between you and the sportsbook, so you won’t ever have to disclose your financial details to the operator. You won’t have to input your credit/debit card numbers, reducing the danger of your financial records and data falling into the wrong hands.
Why Choose iDebit Sportsbooks?
Placing a bet at one of the iDebit sportsbooks listed here comes with a specific set of benefits. Here are the most important ones.
- You don’t need to open an account — Since you are paying directly from your bank account, you won’t have to open an iDebit account to use its services. You can complete the transaction in real time without setting up an additional iDebit account by inserting the online banking credentials at the checkout.
- There’s no need for credit cards — To make a deposit or withdrawal via iDebit, you don’t have to insert your credit card number, thus increasing the security of your finances.
- You can bet with CAD — As a Canadian-only method, it supports payments in CAD, so there are no conversion fees to worry about.
- Deposits are made instantly — Once you verify your transaction, the deposit should be visible in your sports betting account almost immediately.
- You can claim the welcome deposit bonus using iDebit — Unlike certain payment methods, such as Skrill or Neteller, iDebit betting sites allow you to claim the sign deposit bonuses with payments made via iDebit.
- You can withdraw to iDebit — Although certain sports betting sites don’t support cashouts made via iDebit, the technical ability is still there.
Downsides to Using iDebit
Not everything is peachy with iDebit, that’s for sure. There are inevitable downfalls to this method, such as:
- It includes fees — You will have to pay a small fixed fee every time you make an iDebit payment.
- Not all sportsbooks accept iDebit withdrawals — Some sports betting sites won’t allow you to cash out your winnings via iDebit, so you’ll have to use an alternative method instead.
- You can only fund your iDebit account through banks — Even if you decide to set up an iDebit account, you will only be able to fund it through your bank account. No other e-wallets, cryptocurrency, or other banking methods are supported.
- Withdrawals take a while — If you ask for a withdrawal via iDebit, you will have to wait approximately five business days until it reaches your account.
How to Set Up an iDebit Account
Even though you don’t have to open an iDebit account to use its service, here is how you can make deposits and withdrawals directly through it.
- Head to the iDebit official website.
- Click on the Sign Up button in the upper right corner of the page.
- Fill in the form using your personal information, such as name, date of birth, email, address, postal code, and the last four digits of your S.I.N.
- Choose your password.
- Connect your bank with iDebit.
- You are all set.
How to Make a Deposit Using iDebit
It’s straightforward to deposit on an iDebit sports betting site. The process differs slightly depending on whether you want to deposit directly from your bank account or via your iDebit balance.
- Log in to your account.
- Head to the Cashier section.
- Click on “Deposit.”
- Choose iDebit from the list of available options.
- If you have an iDebit account, simply log in using your credentials. If you want to make a payment directly through your banking account, select “Guest Checkout” and your bank. Log in using the online banking credentials.
- Select the amount you wish to deposit.
- Confirm the transaction.
- The deposit should be visible in your account within minutes.
Can I Cash Out My Winnings Using iDebit?
Depending on the sportsbook and its policy, you may be allowed to withdraw the winnings via iDebit. Most bookies require you to deposit with a method before you can cash out with it. Also, you will need an iDebit account to be able to withdraw. Here’s a breakdown of the entire process:
- Log in to your account.
- Go to the “Cashier” section.
- Select the “Withdraw” option.
- Find iDebit under the list of options and select it.
- Enter the amount you wish to cash out and confirm the transaction.
The withdrawals are usually settled within five business days. After the funds reach your iDebit account, you can transfer them to your bank.
iDebit Fees and Limits
The biggest drawback to iDebit is the cost that every single one of its transactions incurs. If you want to deposit directly from your bank account, that transfer has a $1.5 fee. On the other hand, depositing through your iDebit account won’t cost you anything.
A flat $2 fee applies to transferring funds from your iDebit balance to your bank account.
iDebit is an exclusive Canadian payment method designed to facilitate all sorts of payments online, including those to and from Canadian sports betting sites. Punters can use iDebit to claim sign-up promotions and make payments directly from their bank accounts without setting up an account. iDebit payments are fast and completely secure, thanks to the 128-bit encryption system and firewalls the processor employs, not to mention the banks’ own security measures.
On the flip side, there are fees for every transaction through iDebit. Albeit small, a fee is a fee.
Still, iDebit is widespread, and all the best Canadian sports betting sites offer it. Browse our list of bookies and enjoy a seamless betting experience.