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May 19, 2022
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How Pay by Bank Helps iGaming and Sports Betting Operators Reach Canadian Players

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Article
May 19, 2022
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How Pay by Bank Helps iGaming and Sports Betting Operators Reach Canadian Players

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Canada is an important market for iGaming and sports betting operators. But entering the Canadian market is only the first step.

To reach Canadian players, operators need to understand local expectations around:

  • Marketing and messaging
  • Payment methods
  • Player experience
  • Responsible gaming
  • Regional regulations

A strategy that works in another market may not work the same way in Canada. Operators should adapt their approach to the needs of Canadian players and the requirements of each province.

Here are three key areas to consider when building an iGaming strategy for Canada.

1. Use Local and Responsible Messaging

Canadian iGaming and sports betting markets have their own regulatory requirements and consumer expectations.

Operators entering Ontario, for example, need to understand the rules established by the Alcohol and Gaming Commission of Ontario (AGCO) and iGaming Ontario.

Consumer protection is an important part of the regulatory framework. Operators should ensure their marketing and communications follow applicable requirements around advertising, promotions, responsible gaming, and consumer protection.

Key areas to consider include:

  • Protecting minors and vulnerable individuals
  • Supporting self-excluded players
  • Avoiding misleading advertising
  • Following rules around promotions and inducements
  • Including responsible gaming messaging

Localizing your messaging also means understanding Canadian audiences.

Sports and cultural interests can vary by region. Operators should consider the sports, events, and experiences that are relevant to the players they want to reach.

For sports betting operators, this could include interest in major Canadian sports leagues and events alongside international competitions.

Key takeaway

Canadian players have local preferences. Operators should make sure their marketing reflects the audience they want to reach while meeting applicable provincial advertising requirements.

2. Offer Familiar Payment Methods

Payments are a key part of the player experience.

Players want to deposit and withdraw using payment methods they recognize and trust. A complicated or unfamiliar payment process can create friction, especially when players are funding an account for the first time.

For Canadian iGaming operators, local payment methods can help create a more familiar experience.

Interac e-Transfer® and pay by bank are examples of bank-based payment options available to Canadian players. Payment solutions such as Paramount Commerce can support Canadian operators with payment experiences built around local banking preferences.

When evaluating iGaming payment options in Canada, operators should consider:

  • Local payment methods: Does the provider support payment options Canadian players know?
  • Bank coverage: Can players connect through banks across Canada?
  • Transaction speed: How quickly are deposits and other eligible payment transactions processed?
  • Risk management: What tools are available to identify and manage payment risk?
  • Verification: Does the payment solution support relevant verification processes?
  • Compliance: Does the provider understand applicable Canadian payment and gaming requirements?
  • Scalability: Can the payment infrastructure support the operator as transaction volumes grow?

Payment choice should also be considered as part of the broader player journey.

The experience should be simple from the first deposit through repeat deposits and withdrawals. Operators should therefore evaluate payment performance across the entire customer journey rather than looking at individual payment methods in isolation.

Learn more about the best iGaming Payment Options in Ontario and Canada 

3. Make Responsible Gaming Part of the Experience

Responsible gaming is an important part of operating in Canada's regulated iGaming market.

Operators need to consider responsible gaming and consumer protection throughout the player experience. This includes how responsible gaming information is presented, how players access available tools, and how marketing communications are managed.

Responsible Advertising

Operators should ensure their advertising follows the requirements that apply in each province and market.

This can include rules related to:

  • Misleading advertising
  • Promotions and inducements
  • Responsible gaming messaging
  • Advertising to minors and vulnerable individuals

Understanding these requirements can help operators build marketing programs that are both effective and aligned with the applicable regulatory framework.

Responsible Gaming Programs

Responsible gaming also extends beyond advertising.

Operators should provide players with information and tools that support informed decision-making. These may include responsible gaming resources, account controls, and information about available support.

For operators entering a new Canadian market, responsible gaming should be considered as part of the overall player experience rather than treated as a separate marketing requirement.

How to Better Reach Canadian iGaming Players

Reaching Canadian players requires more than simply launching in the market.

Operators should build their strategy around local player expectations, payment preferences, and regulatory requirements.

Three areas are particularly important:

  1. Localize your messaging to reflect Canadian audiences and applicable provincial requirements.
  2. Offer familiar payment methods that make deposits and other payment experiences simple and secure.
  3. Build responsible gaming into the player experience and ensure marketing follows applicable requirements.

Payment infrastructure is an important part of this strategy.

A payment experience can influence how easily players deposit, how confident they feel using the platform, and how smoothly they move through the player journey.

Choosing Payment Solutions for the Canadian iGaming Market

Operators entering or expanding in Canada should look for a payment partner that understands the local market.

A strong iGaming payment provider in Canada should offer more than a list of payment methods. Operators should consider:

  • Canadian payment method coverage
  • Banking connectivity
  • Transaction performance
  • Risk management
  • Regulatory knowledge
  • Technical integration
  • Scalability
  • Ongoing support

Paramount Commerce provides payment solutions for iGaming and sports betting operators serving the Canadian market, including Interac e-Transfer® and Instant Bank Transfer.

With more than 20 years of payments experience, Paramount Commerce combines Canadian payment infrastructure with payment solutions designed for the needs of gaming operators.

Looking to expand your iGaming or sports betting business in Canada?

Let us simplify payments for you today: https://www.paramountcommerce.com/book-a-demo

For pricing information, please visit: https://www.paramountcommerce.com/pricing

Learn about our Interac e-Transfer and Instant Bank Transfer solution

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