Instadebit vs IDebit for Canadian Sportsbook Deposits
IDebit is a relatively new online sportsbook deposit option open to Canadians. Its similar to Instadebit as you can transfer money from your checking or savings account to your online sportsbook account.
The main difference between the two deposit methods however is the speed of processing. IDebit is much faster than Instadebit when it comes to funding your betting account.
How Does IDebit Work?
One cool think about IDebit is that you don’t necessarily have to sign up an IDebit account to get started. You simply initiate a deposit using IDebit at the sportsbook of your choice and they process the transaction immediately. If you are withdrawing funds or cashing out, you will need to quickly set up an IDebit account so those funds can be sent back to your Canadian bank account.
To make a deposit using IDebit, you enter your banking login information at the point of deposit, funds are verified, then transferred immediately to your sportsbook account. Information is encrypted and never stored. This is the only online banking deposit method that transfers funds immediately with no wait.
Difference between IDebit and Instadebit
The main difference between these two deposit methods is that Instadebit requires that you fund your Instadebit account first, then transfer funds to your sportsbook account. If you already have funds in your Instadebit account this is not a problem and the transfer happens instantly. But if you don’t, you need to wait 3-5 business days until the money appears. IDebit works instantly.
Funds are transferred immediately with no need to have an account already registered, that can be completely later if you wish to do so. Withdrawals from Instadebit and IDebit work exactly the same. IDebit charges $2 flat on withdrawals.
Advantages and Disadvantages
The big advantage of IDebit is being able to fund your sportsbook account immediately using a bank account. This is a huge advantage because if you have to get a bet in quick and your credit card doesn’t work. This is the only way to do it.
The main disadvantage of IDebit is that currently, online two online sportsbooks accept them. Mind you, they are the two best sportsbooks online. Bet365 and Pinnacle Sports. Instadebit is accepted at most online sportsbooks, which is a big advantage. Overall IDebit is a great service and its expected to be accepted at most online sportsbooks in the very near future.