Online casinos have become incredibly popular over the last few years, especially in Canada. In fact, according to statistics, the Canadian online casino industry brought in almost $6 billion in revenue in 2017 alone. We completely understand why too, as online casinos offer gamers a wide variety of titles from all different genres, and you can play them all from the comfort of your own home.

Another aspect of online casinos that have helped them become the thriving industry we know today is the sheer amount of payment methods they supply. There’s the traditional debit or credit card options as well as more modern eWallet variants such as PayPal and Skrill. More recently, Instadebit has become particularly popular across Canada and at Canadian online casino. Here, we thought we’d take a look at this new addition to payment options and weigh up the advantages and disadvantages of using it.

What Is Instadebit?

"Credit Card Issuers" (CC BY 2.0) by Philip Taylor PT

Upon first glance, Instadebit doesn’t seem too dissimilar from the likes of PayPal. The company works with Canadian banks to allow customers to transfer money over the web, either to or from their bank accounts. Registering an Instadebit account is also incredibly easy and requires just the most relevant pieces of personal information. Best of all, the account is entirely free and even when transferring money, costs are often extremely small, if they occur at all.

So, why do people use Instadebit instead of just using PayPal or one of the many other services that already exist? Well, the main reason is probably that many Canadian online casinos work with Instadebit. Not every casino has it, of course, online casino Mr Green, for example, opts to stick to world-renowned, tried and trusted payment methods such as Mastercard and NETELLER, but dozens of newer casinos are now taking on Instadebit. As to whether that’s a good idea or not, let’s look into it.

Pros of Instadebit

There are some extremely important factors to consider when transferring money online. Is the payment method secure, quick and backed by customer support, for example. Fortunately for Instadebit fans, it seems that the company has all of this covered. Instadebit employs high-tech encryption tech that protects user information and all accounts are monitored constantly to ensure nothing suspicious is happening. There’s also a robust customer support on hand at all times, which can be contacted by phone, live chat, email or even post. Finally, withdrawals from online casinos rarely take a long time when using Instadebit, with few people reporting waiting periods longer than 72 hours. Plus, Instadebit can work with a multitude of different currencies so you can work with whatever you need.

Cons of Instadebit

Clearly, Instadebit has a lot to offer Canadian iGaming fans, but not everything is perfect. Firstly, the payment option only works in Canada which is bad news for anyone who wants to play while away from the country. Also, Instadebit doesn’t yet work with all Canadian banks so any newcomers will have to double check whether they are eligible. If your bank does accept Instadebit, bear in mind that the method will only link to one account so choose wisely.

Really, Instadebit is perfect for Canadian online gamers, so long as they have the right bank account. Chances are this will apply to you as Instadebit works with most banks, but it’s always a good idea to have an honest look at services you are using. Especially when those services are dealing with your personal information and money.