Ontario’s regulated iGaming market went live earlier this month, opening doors for international online gaming operators to expand their brand in the province. Players in Ontario have already shown a strong interest in online gaming with theScore Bet and bet365 being the most downloaded sports app in the province over the first 10 days of the regulated online gaming market launch. While the apps themselves are very popular, the payment options those apps offer are equally important. We have put together a guide to help operators offer players safe and secure transactions while gaming.
Choosing The Right Payment Option:
iGaming and sports betting operators in Ontario provide players with a variety of payment options, allowing them to choose the payment method they are most comfortable with. Certain payment options can bring cash advance fees and higher rejection rates, so players are better off with the quickest and most secure payment solution. These solutions aren’t always immediately obvious to the player.
Paramount Commerce offers bank account-based payment solutions such as INTERAC®, INSTADEBIT, and iDebit which offer diverse and secure transaction methods, strong bank connections, no hidden bank fees, and connection to known Canadian payment brands. Paramount Commerce’s payment solutions are fully compliant with the province’s iGaming standards and are offered on most iGaming and sports betting platforms in Ontario.
Making A Deposit:
INTERAC: INTERAC is one of the most widely-used and preferred payment brands offered by Paramount Commerce. One of its key features is instant deposits. Players have the option to fund their gaming wallets in two ways: directly through the gaming app or by sending money with Interac e-TransferⓇ from their bank’s app or website. These deposit methods ensure that a player’s funds are funded immediately into their gaming wallet, which allows them to stay in the game.
iDebit: iDebit is a made for players who want to stay in the action. iDebit offers a secure bank login process and deposits through the Bill Pay network. Plus, iDebit offers one-click deposits for repeat customers.
INSTADEBIT: With INSTADEBIT players can make deposits using their bank account through the Canadian EFT clearing network. In addition to standard deposits, INSTADEBIT also offers high limits for VIP players, allowing them to make big deposits through a secure channel.
Collecting Your Winnings:
INTERAC: INTERAC provides the easiest way for players to withdraw their winnings. Players have to simply choose INTERAC on the gaming platform’s cashier tab and make a selection to process a withdrawal. The money is sent using Interac e-Transfer. If the player has set up Autodeposit, the winnings will show up directly in their bank account.
iDebit: iDebit offers verified withdrawals for players. iDebit validates payment account ownership on withdrawals, which provides secure payouts, regardless of what method is used to deposit the funds.
INSTADEBIT: Through INSTADEBIT players receive their withdrawals from the merchant account balance to their INSTADEBIT account in real-time. INSTADEBIT also allows players to use their withdrawn funds on any gaming platform which accepts INSTADEBIT.
As more consumers in Ontario will start to join online gaming platforms, it is very important for them to understand their deposit and withdrawal options. Using payment methods such as INTERAC, INSTADEBIT, and iDebit will ensure that a player has a superior experience and won’t be hit with cash advance fees.