Instadebit is an online payment method that is really popular in Canada. The company has operated since 2004 and its headquarters are in Toronto, Ontario. Speedy & secure transactions, low fees and under-the-radar betting activity constitute the most significant advantages of Instadebit sportsbooks. We are talking about an online payment designed for Canadian players.
It allows you to bet with CAD and is widely accepted by bookmakers operating in Canada are also some noteworthy pros. Moreover, it offers eligibility to claim a welcome bonus and that is one of its top benefits. Plus, we are talking about a 100% legal payment solution. In our complete Instadebit review, you can take a closer look at every aspect of Instadebit like:
- An up-to-date (2023) list of Instadebit sportsbooks
- A detailed guide about how to use Instadebit
- All the pros and cons
Best Instadebit Bookmakers (2023)
The following are the top Instadebit bookmakers for 2023 and we have tested them in terms of reliability, odds & markets and quick transactions. Feel free to check them all out.
Why should you bet on an Instadebit sportsbook
Bettors have plenty of reasons to bet with Instadebit. Speedy transactions, player-to-player transfers and under-the-radar activity are among them and below you can check them all out:
✔ Under the radar betting activity: Even though your Instadebit account has a connection with your bank account, your betting activity remains hidden. Your bank statement indicates that you transfer money to an Instadebit account and not to a bookmaker. For many bettors, it is crucial to hide their gambling activity from their bank.
✔ Wide acceptance from bookmakers: Instadebit has become popular in Canada lately. Consequently, almost every sportsbook in the country accepts transactions through it.
✔ Instant deposits: Betting with Instadebit guarantees that your deposit will take place really fast. It is essential for players who love betting on live events to fund their accounts efficiently and without delay.
✔ Betting in CAD: We are talking about a payment method designed exclusively for the Canadian market. So, it offers the local currency. Bettors always want to avoid possible conversion fees.
✔ Excellent security features: Instadebit is a company certified by the most prominent security firms like McAfee, TrustedSite and Norton. To proceed with a deposit, you need to provide your social insurance number as a security code.
✔ Eligibility to claim a welcome bonus: Unlike other online payments like Neteller or Skrill, Instadebit betting sites typically provide you the eligibility to claim a welcome bonus.
✔ Great customer support: With a 24/7 online chat and a toll-free phone number, the company provides a really good customer service department that can answer any question quickly and efficiently.
Drawbacks of betting with Instadebit
If you take a closer look, you will realize that even Instadebit has some drawbacks. Extra fees when you deposit to a bookie and the fact that it doesn’t allow player-to-player transfers are some of them.
❌ Exclusively for domestic players: We are talking about an online payment method designed for Canadian players. Instadebit is connected to your local bank account and to use it you need to have a social insurance number in Canada.
❌ Not every Canadian bank supports it: It is a fact that there are still local banks that don’t cooperate with Instadebit. If you don’t have an account in a bank that belongs on the Instadebit network, you simply can not use it.
❌ Doesn’t accept deposits with crypto: Instadebit has a direct connection with your bank account and is funded from there,so you are not able to send funds from your crypto wallet to your account.
❌ Doesn’t allow player-to-player transfers: We can consider this as a significant drawback of Instadebit since it is important to send money to a friend and the fact that you can not do it with Instadebit may make some bettors reconsider using it.
❌ Withdrawal fees applied by some bookies: Any player should pay attention to withdrawal fees that may apply to some Instadebit sportsbooks. Some bookies charge a standard rate and some others a percentage.
❌ No plastic or virtual card: The lack of a plastic/virtual card is a crucial downside for Instadebit. In order to pay a merchant, you need to make an online payment or withdraw your funds to your bank account first.
Is betting with Instadebit legal and safe?
You may be wondering, is Instadebit safe? The answer is yes. More specifically, it is one of the safest payment methods in Canada. Any transaction is transmitted using 128-bit encryption technology. At the same time, all transactions are monitored by VeriSign, an American company that operates a diverse array of network infrastructure. Regarding the legal part, Instadebit belongs to Instadebit International Solutions Ltd. and is regulated by the Canadian Payments Association (CPA). So, you will simply never have any legal issues when betting or transferring money to your bank account.
How to Create an Instadebit Account
The answer to the question about how to use Instadebit is simple. The procedure to create your account is pretty fast if you follow the steps below:
- Click on the ‘Sign Up/Login’ button at the top of the home page
- Enter your email and create a password
- Fill in your personal details such as name, address, birthday and the last four digits of your social insurance number
- Enter your bank details (branch number, institution number and account number)
Since you have connected your bank details to your Instadebit account, you are ready. Choose your favorite Instadebit bookmakers and fund your account.
How to deposit with Instadebit
Depositing funds on Instadebit betting sites is straightforward. The procedure is straightforward and effortless, since you follow the next steps:
- Click on the ‘Deposit’ button
- Choose ‘INSTADEBIT’ as your method of payment
- Enter the amount you wish to deposit
- Click on ‘Make Deposit’
- Enter your Instadebit details and your social insurance number
- Choose ‘Confirm Transaction’
Can I withdraw from Instadebit sportsbooks
As regards withdrawals, the whole procedure is very easy. However, depending on the bookmaker, it may take up to 3 business days to process your withdrawal request. To make a withdrawal on Instadebit betting sites, you should have made a deposit using the same method. So, all you have to do is:
- Log in to your favorite bookie
- Select the ‘Withdraw’ button
- Choose Instadebit as your payment method
- Enter the amount you would like to withdraw
- Select the confirm option
That’s all. The transaction has been processed and the amount will be available on your account within 3 days. You can use your funds straight from your account, or you can withdraw any amount from your bank account.
Fees and limits
Creating an Instadebit account is free of charge. Moreover, no charge applies when you make a payment from your Instadebit account balance. However, anytime you make a payment to Instadebit sportsbooks directly from your bank account, there is a $1.95 charge. Some bookies may charge you a fixed amount or a percentage of the withdrawal amount when you proceed with a withdrawal request. If you want to withdraw an amount to your bank account, Instadebit fees are $2 per transaction.
Regarding limits, in most bookmakers, the minimum deposit limit is $5 and the maximum is $1000. As for withdrawals, usually, the minimum withdrawal is $20 and the maximum is $10.000.
Instadebit compared to other methods
Instadebit vs Interac
Interac is one of Canada's most famous online payment methods. With over 59,000 ATMs, the company holds one of the most extensive networks in Canada. Instant transactions, player-to-play transfers and wide acceptance by bookies are its significant advantages. However, your betting activity is tracked and doesn’t accept cryptocurrencies and that’s why it seems unattractive to some bettors.
Instadebit vs Skrill
Skrill is one of the most popular payment methods for funding your online betting account. It is widely accepted by bookmakers and operates almost worldwide. Low fees, under-the-radar activity and speedy transactions are among its top advantages. Nonetheless, most of the time, when you bet through Skrill, you are not eligible for a welcome bonus. On the other hand, Instadebit sportsbooks allow you to participate in almost any promotion. If you want to send money to your bank account, fees could be up to 7.5% per transaction when using Skrill and are much higher than those applied when depositing with Instadebit.
Instadebit vs Neteller
Neteller is another famous wallet founded initially in 1999 in Canada. Easy transactions and under-the-radar activity are its main perks. A drawback of it is that players are excluded from welcome bonuses and promos most of the time. Instadebit betting sites, on the contrary, provide you a significant advantage in this area since you are eligible for any new offer. Regarding charges, deposits to your Neteller account come with fees from 1.90% to 4.95%; if you are depositing through Visa, Maestro & Mastercard and 1% if you do so through Bitcoin. If you want to send money to your bank account, 2.5% fees apply.
Final word on Instadebit by Book Spy
Instadebit is an online payment method designed for the Canadian market. Instadebit sportsbooks offer bettors easy and quick transactions, eligibility to claim a welcome bonus and excellent customer support. On the other hand, the $2 fees that apply when withdrawing an amount to your bank account and the fact that plastic or virtual cards don’t exist at all are significant drawbacks.
To sum up, Instadebit betting sites are a suitable option for bettors in Canada. The payment offers deposits in Canadian dollars and an under that radar betting activity. Speedy transactions and the fact that many bookmakers accept it are two other major advantages. On the contrary, players cannot fund their accounts with cryptocurrency and there is no eligibility for player-to-player transfers. I would recommend Instadebit for recreational players, but high rollers may need to reconsider it due to its daily deposit limit of $1000.
Complete list of Instadebit bookmakers
Low fees and fast transactions are some of the main perks of Instadebit sportsbooks. You can check the full list below and choose the one that suits your needs.
Instadebit International Solutions Ltd is a global e-commerce and risk management leader with a consumer-facing payment processing solution available in 32 countries. Despite this fact, the Instadebit service is only available for residents of Canada.
Instadebit is connected with your bank account and funded through it. You cannot fund it through a credit/debit card or a crypto wallet for the time being.
Instadebit is coming with some fees like most of the online payment methods. When you want to withdraw to your bank account, there is $2 applied per transaction. Also, if you fund your betting account directly from your bank account, there is a $1.95 charge.
Yes, Bet365 accepts transactions through Instadebit. At the same time, you are eligible to grab a welcome bonus and any other offer when you are depositing through Instadebit.
Yes, Bet99 is among the sportsbooks that accept transactions through Instadebit. It is also worth noting that you can claim a welcome bonus when you are betting with Instadebit.