How To Choose The Highest-Rated Ethereum Betting Sites In 2022
As a Canadian, you are spoiled for choice when it comes to Ethereum 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.
This is why we’ve written comprehensive notes on the most important aspects of a site.
Perhaps the single most important aspect of finding a high-quality ETH betting site involves investigating its reputation.
If the ETH betting site keeps your Ethereum and refuses to release the funds, you are powerless to stop it.
Crypto transactions can’t be reversed once finalized, so a shady site can do what it likes because there is no oversight.
We advise you to look through our reviews to discover the legitimacy of Canada Ethereum betting sites.
Overall, it is essential to discover if the Ethereum betting site:
Has a spotless record
Lets you access your money
Cares about its customers
It is standard for betting sites to provide bonuses to ‘reward’ users.
Here are a few of the bonuses you can expect to find:
Special bonuses if you deposit/withdraw using Ethereum
No deposit bonuses
Please ensure you read the terms and conditions attached to each bonus.
They usually seem generous but often have strings attached.
A case in point is that you have to bet through up to 60 times your first deposit to benefit from the bonus.
Quality and quantity of options
When you’re using a sports betting site, variety matters.
Sports betting sites with ETH can have a ton of worthwhile qualities, but without plenty of variation, you’ll quickly leave.
Look for sites with enough games, markets, and other options to keep you entertained in the long run.
Also, pay attention to the overall quality of what’s available.
Playing outdated games or using standard sports markets can get boring after a while, no matter the quantity.
Besides the above considerations, make your Ethereum work best by checking out sites with value odds and mega jackpots.
Deposits & withdrawals
The rapid nature of Ethereum transactions is one of its biggest plus points.
However, not every Canada Ethereum betting site excels in this department and may also have some limitations.
Don’t use any Ethereum sports betting site until you’re happy with the answers to these three questions about 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?
Top-rated sites also take the needs of their customers extremely seriously.
It doesn’t matter if you have tons of options and can quickly withdraw and deposit Ethereum.
If the ETH betting website you choose doesn’t have your back when there’s a problem, it is not worth your time.
A sports betting website with poor customer support can quickly cause frustration and anger.
Conversely, trustworthy Ethereum sports betting websites act fast and decisively when a customer has a problem.
Such organizations specialize in effective response to customer issues, ensuring players happily return to the site.
The best Ethereum Betting Sites are in our guide
You’ll find a ton of information about Ethereum sports betting sites online without question.
The problem is that much of this content contains factual errors.
In most cases, sites that provide faulty information are too lazy to find the truth.
In contrast, we use as many resources as possible to provide the best review of a sports betting site.
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 betting companies and are far from being finished.
What’s So Special About Ethereum Betting Sites?
Given the amount of advertising regarding sports betting sites with Ethereum, you’re likely wondering if the praise is deserved.
Ultimately, they ARE better than conventional sports betting websites and are likely the future.
Let’s check out a few arguments in their favor.
Crypto > fiat
There are dozens of problems with fiat currency, primarily because it is outdated.
Excessive printing of fiat means it has reduced purchasing power from one year to the next.
Consequently, any fiat currency you hold is guaranteed to decrease in purchasing power terms.
As Adam Smith once wrote: “The problem with fiat money is that it rewards the minority that can handle money but fools the generation that has worked and saved money.”
Conversely, many of the best-known digital currencies are experiencing value growth.
This means the value of the Ethereum you win on a sports betting website could rise over time.
Fiat currency had its day; now, we must embrace Ethereum, the future of money.
There remains a stigma around the use of betting websites.
The banking system continues to rail against betting on such a site.
Fiat usage is a bad idea if you want secrecy as banks can see what you’re doing.
There are many reports of them turning down mortgage applications because the individual used a betting website.
However, when you use Ethereum, there is no possible way for the bank to know unless you tell them!
These transactions take place away from the prying eyes of the banking system.
The outcome is sports betting company usage with complete freedom.
Exceptional user experience
Overall, the many benefits offered by ETH betting sites result in a better user experience than with standard sports betting sites.
Here are a few other advantages that lead to a superior UX:
Rapid transaction times so you’re not waiting to fund your account
Lower transaction fees
Additional bonuses when wagering with Ethereum
Up to date web design
Increased limits on deposits and withdrawals
A smaller chance of having your account closed for winning
As a gambler, you won’t regret switching to ETH betting sites.
The cryptocurrency market does have issues with people hacking and stealing money.
Yet, most lawbreaking occurs on the digital asset exchanges.
Indeed, there are no reports of any major crimes committed against Ethereum betting site in Canada users.
Whenever you complete a transaction with Ethereum, it is encrypted and goes through many verification rounds on the network.
In addition, it is extremely difficult to decode a transfer’s private key due to its length and complexity.
According to many cryptocurrency experts, using a credit card online is a bigger risk than Ethereum.
Canada's Take On Cryptocurrencies And Sports Betting Sites: Are They Legal?
Despite the level of hype and advertising, don’t assume that it is legal to bet on ETH sports betting websites using digital currency.
While a country might allow gambling, it may not permit crypto, and vice versa.
While you can still try to register and deposit if you live in a country where ETH betting sites are prohibited, it is an unwise choice.
The site is free to freeze your account and keep your funds if you use it from a banned nation.
Thankfully, Canada allows Ethereum sports betting site use as long as you follow the country’s general rules on crypto and gambling!
Is it legal to use Ethereum in Canada?
Yes, residents of Canada are legally protected should they choose to make Ethereum transactions or buy/sell it on exchanges.
Despite the easy availability of digital assets, they are not considered legal tender.
Consequently, there’s no possibility of using it to pay taxes you owe to the Canadian Revenue Agency (CRA).
Unfortunately, the CRA also mandates that any profit you earn from crypto is taxable.
Therefore, you must report gains or losses on it when filing your tax returns.
Digital assets are not regulated in Canada, even though the exchanges that sell them are.
Therefore, many businesses remain unwilling to accept them as payment without the protection of a central authority.
While Ethereum sports betting sites acknowledge the danger, they see it as a trade-off for healthier profits and greater visibility.
Is it legal for a Canadian to Bet online?
Yes, online betting is perfectly legal in Canada.
However, you must be at least 19 years of age.
Except in Quebec, Alberta, and Manitoba, all of which allow you to wager when you’re 18.
Unless the CRA declares you a professional gambler, any money you make from successful bets remains untaxed.
Before you try to register, please note it is against the law for a betting company to offer its services within the Canadian border unless it is explicitly licensed or owned by a provincial government.
Nevertheless, approximately 1,000 unlicensed offshore sites currently exist and offer games to Canadians.
Where is the best place to purchase Ethereum?
Exchanges are probably the best place to buy Ethereum.
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.
A rule that came into play in June 2020 legally requires these businesses to register with FinTRAC.
This is the agency that deals with financial crimes in Canada.
Therefore, contrary to what many people think, buying and using ETH in Canada is a relatively safe process.
Single-game betting is now legal
Originally, Canadian betting laws came from the 1968-69 Criminal Law Amendment Act.
The government then handed control of gambling laws over to the provinces in 1985.
The result was an enormous number of casinos opening throughout the country.
These laws are still in operation today and regulate online gambling in Canada’s provinces.
A recent change to gaming law in Canada finally eliminated an unusual rule that was unhelpful to bettors.
Up until August 2021, it was technically illegal to bet on a single game.
Ultimately, things changed thanks to C-218, a law passed to end the prohibition of single-game wagers.
Love Sports? Here’s Why You Should Pick Ethereum Betting Sites
Ethereum sports betting platforms are a relatively new creation and are already threatening the power of conventional bookmakers.
Why? Because these new betting websites are leaving their fiat currency accepting counterparts in the shade.
More freedom & stable odds
If you show too much skill, soft sports betting sites will either severely limit your bets or shut your account down.
Unfortunately, the industry continues to get away with banning punters who show some ability to win.
Once your account gets restricted, your wagers are limited to cents, and you have to find a new betting site.
If you deposit with a trustworthy Ethereum betting site, you can continue your winning strategy with a lower risk of restrictions.
Too often, soft bookies slash a market’s odds, ruining your chance of getting value.
Sports betting sites that accept Ethereum are different; the odds are usually more stable, giving you a fair chance of receiving value.
What sports and markets are available?
If you use the top-rated ETH sports betting sites, you’ll quickly determine practically no difference between the sports available compared to standard sports betting websites.
Whether you like boxing, golf, or athletics, these sites will meet your requirements.
‘Soft’ bookies struggle to match the number of markets available too.
Serious bettors prefer to avoid ‘soft’ bookmakers due to poor odds compared to their ‘sharp’ counterparts.
In any case, you might find a better range of long odds markets on Ethereum betting sites.
The above is a must if you’re happy to take risks in return for a large possible profit.
If you’re an expert on electronic sports, you can use this knowledge to win crypto on sports betting sites with Ethereum.
Video gaming superstars from around the globe engage in various tournaments with major cash prizes up for grabs.
If you’re interested in eSoccer, Apex, and SCII markets, a majority of Ethereum sports betting websites have you covered.
If you believe winning at eSports is a matter of luck, think again; there is lots of skill involved.
However, if you have the knowledge, Ethereum sports betting websites offer you the chance to earn a profit.
A quick rundown of four major cryptocurrencies
Overall, you’ll find thousands of cryptocurrencies with new ones seemingly created each day.
However, most sports betting sites that allow digital currency use only accept a handful.
Now, we shine a spotlight on four coins often allowed on crypto accepting betting sites.
Only Bitcoin has a greater market cap than Ethereum, which is far above every other coin.
Vitalik Buterin and Gavin Wood created ETH in July 2015, and its array of benefits has helped its value grow significantly.
If you want lightning-quick deposits or withdrawals, Ethereum is ideal; its transaction time is 12 seconds!
Some crypto experts believe ETH could one day surpass Bitcoin as the number one currency, so you have to decide if it is worth buying now.
Developed in January 2009 by someone known as ‘Satoshi Nakamoto,’ Bitcoin was the first cryptocurrency.
It became the first cryptocurrency to exceed a market cap of $1 trillion, and its growth shows no signs of stopping.
The popularity and worth of Bitcoin mean that crypto sports betting sites welcome its use.
On the downside, it costs a huge amount of money to own a full BTC these days.
A major upside is the security of the Bitcoin network; even the world’s best hackers have failed to penetrate it.
Charlie Lee created Litecoin in October 2011; it’s a peer-to-peer digital currency that’s similar to Bitcoin in technical details.
Nonetheless, the cost of Litecoin has increased dramatically over the years as people began to see its potential.
For instance, LTC offers fast transaction times and minimal fees.
We recommend reading our reviews to see if the sports betting site of your choice accepts it.
Dogecoin was created as a prank by Billy Markus and Jackson Palmer in December 2013.
The coin is now synonymous with the image of the Shiba Inu dog breed.
These days, it is considered a serious digital asset, aided by promotion from Elon Musk, the founder of Tesla.
DOGE offers excellent security and fast transactions, so its use on betting websites is worth considering.
One possible issue with Dogecoin is the lack of a supply limit, which may cause inflation; also, few sites enable you to use it.