Nowadays, many people are turning to online gambling as their preferred choice of activity to look for fun and explore the enormous world of online gambling from the comfort of their home. This engagement has become even more common in the last few months as people were forced to practice social distancing and, as a result, can’t visit any brick and mortar gambling establishment. Canadians are part of the people looking for what the online gambling world has to offer from the comfort of their homes, and this has been made easy with many Canadian banks now allowing gambling transactions.

The Crown corporations in charge of provincial gambling, try to live up to their online gambling sites. However, these corporations can’t function effectively without the support of banking institutions. 

Online gambling in Canada

There are five Crown corporations in charge of gambling in each province. They include Loto-Québec, Atlantic Lottery Corporation, Western Canada Lottery Corporation, British Columbia Lottery Corporation, Ontario Lottery, and Gaming Corporation.

Due to the pandemic, most land-based establishments had to shut down their business, leaving online gambling as the only source of gaming activities for players. So far, it has served as the single source of gaming activities for people looking to play slot titles and other casino games. Every online gambling platform has its unique signature design, products, and services which they offer. The nature of their interface is meant to prevent Canadians from seeking gaming experience on international gambling sites and illegal platforms. Despite this, players can still access international gambling sites using a VPN.

Canadian big five banks

Without banks, online gambling is impossible: deposits and withdrawals are mostly possible through banks. Gambling faithful are, however, advised to take note that not all Canadian banks support online gambling as some banks concentrate on other target groups. With this in mind, online gambling is supported by only a few banks located in Canada.

Any Canadian can easily name the big five banks in the country, and they include Bank of Nova Scotia, Toronto-Dominion Bank, Bank of Montreal, Royal Bank of Canada and Canadian Imperial Bank of Commerce.  Each of them is in charge of a particular area of the country, offering Canadians a range of services that they can explore at any time.

Bank of Nova Scotia

Out of the big five banks, only four support and facilitate transactions on international gambling platforms. Bank of Scotia, commonly called Scotiabank, does not support international gambling transactions. This bank only allows gambling activities involving the Crown Corporations in charge of gambling in a particular province.

Atlantic Lottery Corporation is in charge of gaming activities in New Brunswick, Prince Edward Island, Newfoundland, Labrador, and Nova Scotia. It has a newly improved and advanced alc.ca gaming platform that is attracting a lot of players recently. The Bank of Nova has made it known that it doesn’t approve of international gambling platforms, but instead, it only supports Canadian based gambling sites such as https://www.betsafe.com/ca/.

Banks supporting online gaming

The Royal Bank of Canada is a well-known financial institution and widely known as an economic leader in all the Canadian provinces. It also has the most prominent national coverage.

It has branches in every county, making it easy for players to access their savings easily. They also provide in-person help to their customers. Its customers are continuously rising every day, and a reason for this is that it supports online gambling sites such as

It allows players to make easy withdrawals and deposits to both Canadian-based online gaming sites as well as international gaming platforms.

Toronto-Dominion Bank

This is another bank famous for its free relationship with online gambling sites. Although, since 2013, several of the card deposits into online gambling sites have been restricted however there are other ways to make deposits and withdrawals such as electronic wallets like Neteller and instant banking through Interac, Instadebit, and iDebit.

Bank of Montreal

It is Canada’s oldest banking institution, and it’s supportive of online gambling transactions, including those of international gambling platforms. It goes as far as having a unique way of handling transactions. It refers to them as cash-like transactions that are made of wire transfers money order and transferring money for online gambling.  Many players choose this bank to satisfy their interest in exploring the enormous world of gaming.

Canadian Imperial of commerce

This bank is known for its long history of operations and magnitude. Its service spreads across Europe, Asia, the Caribbean as well as Canada. The bank is also in support of online gambling despite certain instances of it blocking some gambling transactions.

Visa and MasterCard

These two cards, together with MasterCard Maestro and Visa Electron, can be used for online gambling. A vast majority of Canadians prefer this method as it is perceived to be hassle-free and more accessible.

Conclusion

Even with everyone looking forward to life after the pandemic, online gambling will continue to gain the attention of many players in the country. And with Canada being a leader in advancing their laws concerning gambling, Canadians will continue to enjoy the convenience provided by smooth banking transactions on both domestic and international online gambling sites. Without a doubt, with time, even more banks in the country will come to support online gambling transactions.