What’s So Special About Crypto Betting Sites?
Bitcoin sports betting sites are hot commodities, but not everyone is sure if the hype is appropriate.
We’re here to tell you that they’re superior to their traditional counterparts in many ways.
Here are just a few reasons why this is the case.
Even though betting website usage is popular, society still looks down upon this pastime.
Banks, in particular, are against the idea of betting on one of these sites.
They like it when you fund your hobby with fiat, as it is easy for them to trace.
There are many reports of them turning down mortgage applications because the individual used a betting site.
If you want your pastime to remain hidden from the bank, use crypto, not fiat.
Financial institutions have no involvement in digital currency transactions.
Consequently, you keep banks out of the loop and can use a sports betting website with no chance of them catching you.
Crypto > fiat
Fiat currency is old-fashioned and no longer suitable for the world we live in.
Excessive printing of fiat means it has reduced purchasing power from one year to the next.
This means the $1,000 fiat in your account today will be worth less in real terms five years from now.
To quote Henry Ford: “It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before morning.”
Conversely, many of the best-known digital currencies are experiencing value growth.
Therefore, if you win crypto on a sports betting website, the value of your earnings could continue to grow.
Bitcoin is the future; fiat currency belongs in a museum.
The cryptocurrency market does have issues with people hacking and stealing money.
However, it is important to note that such criminality is mainly confined to the exchanges.
In contrast, reputable Bitcoin betting sites are relatively ‘safe.’
Crypto transactions are encrypted and verified multiple times on the network.
In addition, it is extremely difficult to decode a transfer’s private key due to its length and complexity.
Most digital currency experts suggest Bitcoin is safer than using a credit card.
More enjoyable UX
Those who try BTC betting websites often claim they find them more entertaining than conventional sports betting platforms.
This is how these new sites give you an improved UX:
Lightning transactions mean you can send and receive money in the blink of an eye
Smaller deposit/withdrawal fees
Attractive crypto use bonuses
Easy to navigate contemporary websites
Better deposit/withdrawal limits for high rollers
A reduced risk of account restrictions for being successful
If you’re a serious bettor, there’s no reason to delay registering with crypto sports betting sites.
How To Find The Best Crypto Betting Sites In 2023
As a Canadian, you are spoiled for choice when it comes to crypto sports betting sites.
Rather than picking the first one you see, however, be patient.
Selecting the wrong one for your needs could impact your user experience.
Fortunately for you, here’s an overview of the criteria to consider when searching for a suitable site.
Perhaps the single most important aspect of finding a high-quality crypto betting site involves investigating its reputation.
Sadly, if a shady Bitcoin betting site hangs on to your Bitcoins, there’s no action you can take to get it back.
The non-reversible nature of digital currency transactions means there is no central authority to take action on your behalf.
Therefore, it makes sense to check out our reviews to learn more about the reputation of crypto sports betting sites.
Overall, it is essential to discover if the Bitcoin betting site:
Enables you to get hold of your money easily
Has customer support worth mentioning
Deposits & withdrawals
The rapid nature of cryptocurrency transactions is one of its biggest plus points.
Yet certain Bitcoin betting sites may lag behind industry leaders in transaction speed and have other issues.
Here are three questions to ask regarding crypto betting site transactions:
How quickly does the site process deposits & withdrawals?
How many payment methods are available? (Such as BTC, ETH, LTC, or DOGE)
What is the maximum amount you can deposit and withdraw?
Variety & quality of what's on offer
When you’re using a betting site, variety matters.
If a certain crypto betting site doesn’t give you enough to do, there’s no reason to keep using it.
Therefore, investigate a site’s markets, game quantity, and special features to see if it holds your attention.
Furthermore, focus on the standard of the site.
Even if there are many options, generic games and sports markets soon lose their appeal.
Furthermore, focus on sites that provide the best odds and huge jackpots to get value for your Bitcoin.
Rewards and bonuses
It is standard for sports betting sites to provide bonuses to ‘reward’ users.
The types of rewards on offer include, but aren’t limited to:
Bonuses for using crypto
No deposit bonuses
Carefully look into the terms and conditions linked to every bonus.
They usually seem generous but often have strings attached.
For instance, you must bet through your welcome bonus deposit 30+ times before withdrawing it.
You also want a site that solves customer complaints quickly and effectively.
By themselves, good features and easy deposits aren’t guaranteed to offer a good user experience.
Bitcoin betting sites that fail to help out when you’re in need are worthless.
Encountering sports betting sites with dire customer service can ruin your day.
In contrast, rapidly getting to the root of any problems you have is a sign of a legit crypto betting site.
Such companies help solve issues efficiently, so you can enjoy the site.
We find the top-rated Crypto Betting Sites for you
It is simple to get information about crypto betting sites online.
The problem is that much of this content contains factual errors.
One of the main reasons is that these sites don’t bother performing detailed analysis.
We like to do things right, which is why we thoroughly examine sports betting websites.
It takes many hours of play to ensure we get enough information.
It is challenging, but we enjoy the process because we know the result is the best set of reviews around.
Already, we have reviewed an immense number of sports betting websites and are far from being finished.
The Benefits of Crypto Betting Sites For Sports Fans
Old-fashioned bookies are deeply concerned about the emergence of crypto betting sites.
These new sports betting sites offer everything their fiat accepting rivals do and a lot more.
Available sports and markets
Conventional sports betting sites no longer have the edge over crypto betting sites regarding available sports.
Whether you like boxing, golf, or athletics, these sites will meet your requirements.
What you’ll also find is a more substantial number of markets than the much-hyped ‘soft’ bookies.
For the record, a ‘soft’ bookie is for casual users, whereas ‘sharp’ firms are geared towards professional gamblers.
Overall, crypto sports betting sites exceed most peoples’ expectations regarding offering long odds on sports markets.
The above is a must if you’re happy to take risks in return for a large possible profit.
Cryptocurrency betting sites have welcomed the eSports revolution, a form of competition involving video games.
Video gaming superstars from around the globe engage in various tournaments with major cash prizes up for grabs.
You’ll find that most crypto sports betting websites offer markets on popular eSports games such as DOTA2, CS:GO, and League of Legends.
If you believe winning at eSports is a matter of luck, think again; there is lots of skill involved.
Yet, this effort is well worth it because you can potentially profit on crypto betting sites.
More freedom & stable odds
If you’re a savvy punter, soft betting websites have likely restricted your bets or perhaps suspended you altogether.
Unfortunately, the industry continues to get away with banning punters who show some ability to win.
An account restriction means you can only bet with cents on a market, leaving you no choice but to register with a new sports betting site.
With crypto betting sites, you get a fresh start with no restrictions and are less likely to have limitations placed on your account.
Soft bookies regularly cut odds drastically, a source of great irritation to punters.
However, cryptocurrency sports betting sites are far less likely to do this, so you have a better chance of receiving fair odds close to the beginning of an event.
Four digital currencies to consider
Estimates of the number of cryptocurrencies in existence vary, although there are probably close to 13,000 coins available.
However, most betting websites that allow digital currency use only accept a handful.
Keep reading to learn more about four of the most popular digital assets accepted on betting companies that use crypto.
Developed in January 2009 by someone known as ‘Satoshi Nakamoto,’ Bitcoin was the first cryptocurrency.
BTC has a market cap of over $1 trillion and is worth significantly more than any other coin.
Since Bitcoin has the greatest value and is the best-known cryptocurrency, practically all crypto sports betting websites allow its use.
However, its enormous value means you’ll have to pay a significant amount of money to buy a decent amount of BTC.
Yet if you want security, Bitcoin is a great choice; no one has ever hacked its network.
Canada's Take On Cryptocurrencies And Betting Platforms: Are They Legal?
Your ability to enjoy Bitcoin sports betting sites boils down to your nation’s laws regarding both betting and cryptocurrencies.
You might find that your nation has no issue with digital assets but forbids gambling, or it might allow betting but not crypto.
Attempting to use crypto sports betting sites when they are illegal in your country is a big mistake.
There’s nothing to stop the betting site from shutting down your account and keeping your money in this scenario.
Happily, if you live in Canada, Bitcoin betting site usage is legal!
Is it legal to use Crypto in Canada?
Yes, it is completely legal to buy and sell crypto on exchanges and make purchases with it.
Despite the easy availability of digital assets, they are not considered legal tender.
As a result, the Canadian Revenue Agency (CRA) won’t let you use it to pay your taxes.
Yet, the Agency considers profits on digital currency as taxable.
Therefore, you must report gains or losses on it when filing your tax returns.
While there is regulation surrounding exchanges, it is not the same situation regarding crypto coins.
Hence, we have a situation where most companies won’t accept them due to the perceived risks.
Crypto betting sites are willing to make this choice, knowing they could attract a growing number of customers.
Where can I buy Crypto?
You can purchase Bitcoin on exchanges.
In terms of regulation, digital currency exchanges are treated as money services businesses.
Consequently, to continue operating, these organizations must comply with rules relating to verification, recordkeeping, reporting, and a whole lot more.
Since June 2020, digital assets exchanges must also register with FinTRAC.
This is Canada’s government agency in charge of handling financial crimes.
Strong regulation in Canada and a high level of crypto security means buyers and users are well protected.
Is Wagering online legal in Canada?
Yes, online wagering is perfectly legal in Canada.
The legal age for gambling in Canada is 19.
If you live in one of the following provinces: Manitoba, Quebec, or Alberta, the legal gambling age is 18.
Also, income from betting isn’t taxable unless you’re classified as a professional gambler.
Before you try to register, please note it is against the law for a betting platform to offer its services within the Canadian border unless it is explicitly licensed or owned by a provincial government.
Even so, this fact hasn’t prevented over 1,000 unlicensed offshore sites from offering their services to Canadian residents.
An important new gaming law
In Canada, the laws relating to gambling date back to the Criminal Law Amendment Act, which the Canadian Parliament agreed upon in 1969.
In 1985, the government allowed each province to regulate its gaming laws and determine if land-based casinos were permitted.
This piece of legislation led to a massive increase in the number of casinos throughout Canada.
Since this law has remained intact, provinces use their power to make rules for online casinos and bookmakers.
An odd quirk in the law limiting betting activity was only recently changed.
According to this ruling, only parlay wagers were legal as single game wagers were outlawed until August 2021.
Yet, the Canadian government passed C-218, a law that finally allows the practice of single-game betting.