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Pros and cons of the payment method
Before getting into the pros and cons of Instadebit, answering the question of what is Instadebit is a good place to start. It is an eWallet that is similar to PayPal or Skrill in a number of ways. It allows payments to be made online through an account that you link up to your bank account, and there are physical location options as well that largely do not apply to online sports betting.
One of the biggest positives of Instadebit is that it is a payment method that is popular because of its positive reputation. Any questions of is Instadebit safe or is Instadebit legit can be answered with a simple yes, as it has earned a very positive review among Canadians.
As a result of its reputation, the list of betting sites that accept Instadebit in Canada is a rather long one. Most sites that operate in Canada accept this form of payment. Additionally, these sites often have Instadebit as a withdrawal option. That allows players to make deposits and withdrawals from Instadebit if they do choose, which should make life that much easier for sports bettors.
Another positive associated with using Instadebit is the fact that it can perform transactions the same way that a bank account or debit card can, but the bettor doesn’t need to put their bank or card information into their bookmaker directly. By acting as a middleman of sorts, Instadebit adds another layer of security into the mix.
Conversely, one negative of using Instadebit is the fact that a data breach could leave the entity responsible just one layer of information from your bank account. With the account verification steps required to access Instadebit, this shouldn’t be a problem. But it is something to remember and is a good reason to keep sports betting transactions on trustworthy sites.
|Instadebit is so popular that not only betting sites let you use it, but also other big companies. It is even available on Facebook.|
Are there any costs and fees?
Insta debit is pretty straightforward when it comes to fees. Essentially, transactions that take place within the confines of a sportsbook and the balance of a player’s Instadebit account do not incur any fees. It is only when a player uses Instadebit to make a transaction using their bank account that a fee is assessed. There is also a fee for withdrawing funds from your Instadebit account into your bank account, which should be kept in mind for after you make a withdrawal.
On the sportsbook side of things, bettors often don’t have to worry about the betting site charging a fee to process a transaction that uses Instadebit. These sites used to charge fees on transactions more often, but competition between them has largely mitigated that practice. And while that is largely the case, it is still smart to take a moment to look at the rules of a site to find out if there will be a fee assessed for using Instadebit on the sportsbook’s end.
This bookmaker accepts Instadebit and gives you the opportunity to benefit from various promotions for new and already registered players.
How to make a deposit?
Making a deposit using Instadebit is easy, and is comparable to using many of the other major payment methods from a sports bettor’s perspective. Step one, of course, would be to create an account, if you do not already have one. Doing so will allow you to link your banking information and an account number to your Instadebit account, which will allow you to make any deposits or withdrawals that you deem necessary.
From there, you are going to have to go to the sportsbook of your choice. If you have not already created an account, this would be the time to do so. Before creating an account, be sure to read through the rules and terms and conditions of the site to make sure that it caters to what you need. Once you have an account set up, hit the deposit or cashier button located somewhere within the site. From there, you can select the deposit option and choose Instadebit as your deposit method. Just look at the following image to see how easy it is.
You will be asked to put in your Instadebit account information or authorize a payment to the sports betting site through Instadebit once you choose this as your payment method, after you have chosen the amount that you would like to deposit. And from there, your funds should be deposited into your account to use as you wish.
How to make a withdrawal?
Some sportsbooks also have Instadebit as a possible method to withdraw funds, with players able to take their winnings and put them into their Instadebit accounts where they can either be transferred into a bank account or held on Instadebit. Doing this is also very easy, with things going smoothly from the first withdrawal and beyond.
The first step for a player to claim their funds on Instadebit would be to go to the cashier section of the site once again. From there, they are going to want to choose the withdrawal option. Once that has been selected, bettors should choose their method of withdrawal along with how much money they would like to take from their sportsbook account. In this case, Instadebit is going to be the option chosen, of course.
If this is a player’s first withdrawal at a sportsbook, they will have to verify their information with the site so that a payout can take place. This often requires bettors to submit some sort of identification and other personal items such as a utility bill so that the site can verify that the money is being paid out to them. This may seem invasive, but it makes sure that a bettor isn’t having their sportsbook funds withdrawn by someone else.
Aso worth noting is the fact that some sites require bettors to withdraw their funds through the same method they used to make a deposit originally. Therefore, if you want to withdraw money with Instadebit on those sites, you would need to make a deposit with Instadebit as well. This is usually explained somewhere within the terms and conditions of a site or in the help section where available.
How long do Instadebit transactions take?
Instadébit transactions would be instant, one would think, given that the word instant is practically in the name of the company. In the case of deposits, this is largely the case given that most sportsbooks are able to process these transactions right away. It is the withdrawals that deserve some scrutiny, as these can take longer to process on the sportsbook end of things to the point that the transactions are not quite as instant.
Most sportsbooks will process withdrawals within one week of the request, assuming that your information is up to date and verified. This delay time is on the end of the betting site, rather than on Instadebit, who is more than capable of handling the transactions on a faster turnaround, and potentially without fees depending on how you use Instadebit personally.
Alternative payment methods
There are, of course, plenty of other options for bettors looking to fund their accounts aside from Instadebit. Players can use their credit cards to fund their accounts in many cases, as well as other popular eWallets like PayPal, Neteller, and Skrill. And for players who don’t mind it, there is also often the option to perform transactions like bank transfers or to send a check instead of going with Instadebit. The following table shows you the withdrawal options of LeoVegas.
|Credit/Debit cards||3-5 days|
|Bank transfer||2-5 days|
|Bank check||No available option|
The availability of these payment options varies from site to site, and most sites have reviews available that can tell you what methods are available and if payment processing is convenient on each site. Those are worth taking a look at before attempting to make a deposit with whatever method you choose in the interest of saving you the time of creating accounts when you don’t have to.
In addition to the availability of different payment options, there are also questions about fees and processing times that different payment options will require. These are also things that most reviews will tell you, but they also speak to just how many factors need to be considered when choosing one payment option over another.
Overall, Instadebit is a very convenient way to fund a sports betting account and to make a withdrawal from said sports betting account. With a secure way to perform financial transactions that aren’t going to incur fees as long as the transactions stay between an Instadebit balance and the sportsbook, there are certainly worse ways to perform payments in the sports betting world, at least that`s my humble opinion.
|“Given that Instadebit is so easy to use and is also very cheap, I have to praise Instadebit.“|