Bet.ca logo

Interac sports betting sites in Canada

How to use Interac on betting sites

Launched in 1984, Interac began as a collaboration between five major Canadian banks and financial institutions. Today, it is an interbank network that an estimated 21 million people in Canada use at over 450,000 businesses and merchant locations, including several major sportsbooks.

There are a few different ways to use Interac, although many sportsbooks in Canada that accept it as a payment method allow you to use it to deposit directly to your betting account. For reasons including its safety and security and reliable transaction speed, Interac has been popular with Canadian bettors for many years.

Pros and cons of using Interac

Pros

✅ Ease of use with Canadian banks: Interac was founded in Canada for people in Canada, so it’s not surprising that they have partnerships with most of the country’s leading financial institutions. This means that, more often than not, using Interac doesn’t require you to set up or download anything.

✅ Widespread availability: As mentioned, Interac can be used at almost half a million businesses and places in Canada. Perhaps unsurprisingly, this includes many of the biggest and most popular sportsbooks available in the country.

✅ High-level safety and security: Interac’s deep integration with banks and financial institutions across the last 40 years helps them to offer advanced and reliable security measures, including transaction encryption and multi-level authentication. This offers extra reassurance that your money is safe.

✅ Reliable transaction speed: Interac may not be as fast as certain e-wallet services, but it’s still very quick, and it’s not unusual to see transfers made using Interac clear immediately with betting sites.

Cons

❌ Risk of outages: Although such occasions are thankfully rare, Interac has been known to go down. For instance, in July 2022, their e-Transfer services were completely unavailable to use for a period of over 14 hours, causing widespread disruption and inconvenience.

❌ Difficult to keep gambling separate: As Interac is integrated with your bank account, it’s not easy to keep your betting activity distinct from other forms of spending. That won’t be a problem for everyone, but may prove annoying for bettors who prefer to track their gambling habits more closely.

Using Interac on mobile

Interac doesn’t have a dedicated mobile app, but it can be accessed through the banking apps of participating financial institutions. To access Interac services on mobile, you must do the following:

  1. Download your bank’s app from your mobile device’s app store

  2. Log in using your existing online banking credentials, or sign up for online banking with it if you haven’t already

  3. Follow the instructions in the app and load and check the Interac services available

  4. Read up on any bank-specific instructions for sending money using Interac

  5. Get ready to start using Interac at your chosen sportsbook(s)

A few different Interac services exist, including Interac Debit and e-Transfer, but the most straightforward way to use it with sportsbooks is to deposit directly into your account.

Depositing to Betway on mobile with Interac

As an example, here are instructions on how to deposit to your Betway account via Interac on mobile:

  1. Select the ‘Deposit’ button on the Betway mobile app or site

  2. Choose Interac as the payment method you want to use

  3. Enter the amount that you want to deposit

  4. When redirected to your bank’s app or website, follow the prompts you see there

  5. Complete the payment and your money will be transferred to your betting account

Why should you use Interac for betting?

Interac is a fast and convenient payment method that is designed to understand the need of bettors in Canada. Aside from the fact that it adds another layer of security on top of a standard bank transfer, for several decades it has been widely integrated with many Canadian banks and financial institutions, meaning you may already have access to it without even realizing.

As a service that aims to give Canadians broader access to their money through a single shared network, Interac also offers an easy way to deal with sportsbooks without the need to share any additional personal or financial information with them.

Interac FAQs

How much money can I deposit with Interac?
Do you have to pay any fees for using Interac?
Can Interac be used to claim signup deposit bonuses?

All of the payment method guides at BET.CA are written by our in-house team, who have over 40 years’ experience in the sports betting and gaming industries. This means that we understand the wants and needs of bettors, as well as what is important to them, and can therefore help you to find the best payment method to keep your betting experience as easy and enjoyable as possible.

BET.CA staff
BET.CA staff