Instadebit vs PaySafeCard for Sportsbook Deposits from Canada

PaySafeCard (formerly UKash) is a fairly new online sportsbook deposit method, but has taken off very quickly across Europe and now in Canada.

 ukash-canadaPaySafeCard is a fairly innovative way to fund your online betting account because you can actually buy a ticket at a retailer using cash, and transfer that amount easily to your online sportsbook. PaySafeCard is a truly great way to fund your account and avoid dealing with third-party processors, credit cards or online banking.

The main drawback, however, is that you have to physically go to a store to buy a ticket. Also, the highest ticket value they offer is $250, but you can buy multiple tickets should you wish to deposit more funds at one time. PaySafeCard does charge fees for purchasing tickets, this is how the retailer makes money.

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Generally, these fee’s run about 4%-6% of the cost of a voucher. So a $100 PaySafeCard ticket in Canada will cost $105.95. There are no other charges associated with PaySafeCard tickets after purchase. The main drawback of PaySafeCard currently is that to take money out of a sportsbook, you will request a withdrawal and they will send the funds via bank wire or mailed cheque.

Advantages of PaySafeCard Sportsbook Deposits

  • Ability to fund a online sportsbook using cash
  • Accepted by most online sportsbooks in Canada

Disadvantages of PaySafeCard Sportsbook Deposits

  • Still have to wait for a mailed cheque or bank wire for payout
  • Fees run between 3-6% of the value of deposit

Why Instadebit Canada is a better deposit option than PaySafeCard

Instadebit is superior to PaySafeCard when it comes to funding sportsbooks in Canada because Instadebit only charges a flat fee of $1 no matter what the deposit amount is you transfer to your sportsbook. This is significantly cheaper on say a $250 deposit where PaySafeCard will charge $9.95.

Although you need to wait three days to verify your Instadebit account, you will save yourself the time in the future of having to go out and buy a ticket every time you want to make a betting deposit. As well, your payouts will go back to your bank account a lot faster with Instadebit than waiting for a mailed cheque or bank wire with PaySafeCard.

PaySafeCard is still the only way to fund your sportsbook account with real cash though, and that is a big advantage for some Canadians.