Reasons to Try Solana Betting Sites Today
By now, you’ve probably heard a lot of hype about Solana betting sites and want to know if it is justified.
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.
Retaining privacy
There remains a stigma around the use of betting sites.
The banking system continues to rail against betting on such a site.
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 website.
With Solana, you get the anonymity you crave.
Financial institutions have no involvement in digital currency transactions.
As a result, you can register, deposit, and enjoy everything a sports betting platform has to offer in complete privacy.
Crypto is better than fiat
We have used fiat currency for a long time, but it is approaching its sell-by date.
The consistent printing of paper money reduces its value.
As a result, the fiat stored in your account will inevitably reduce in value over time.
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.”
In contrast, the most popular cryptocurrencies are in a growth phase, so they are likely to increase in value.
This means the value of the SOL you win on a sports betting website could rise over time.
Ultimately, while fiat’s time is up, the time is now for crypto.
Safer transactions
Opponents of crypto point out that hacks and thefts are relatively common in the market.
However, it is important to note that such criminality is mainly confined to the exchanges.
Indeed, there are no reports of any major crimes committed against sports betting site accepting Solana users.
Whenever you complete a transaction with SOL, it is encrypted and goes through many verification rounds on the network.
Also, the private keys used in transfers are long and exceedingly hard to decode.
Crypto experts often point out that debit and credit cards are more vulnerable than SOL.
Exceptional user experience
Overall, the many benefits offered by Solana sports betting companies result in a better user experience than with standard sports betting sites.
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 SOL use bonuses
Easy to navigate contemporary websites
Better deposit/withdrawal limits for high rollers
A reduced risk of account restrictions for being successful
As a gambler, you won’t regret switching to Solana betting sites.
Main cryptos overview
Estimates of the number of cryptocurrencies in existence vary, although there are probably close to 13,000 coins available.
However, most sports betting sites 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 sites that use crypto.
Bitcoin
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.
As it remains the #1 digital coin, virtually every crypto sports betting website readily accepts Bitcoin.
On the downside, it costs a huge amount of money to own a full BTC these days.
Yet if you want security, Bitcoin is a great choice; no one has ever hacked its network.
Dogecoin
Dogecoin owes its existence to Jackson Palmer and Billy Markus, who invented it as a joke in December 2013.
It is famous for featuring the face of the Shiba Inu breed of dog.
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 sports 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.
Ethereum
Known as the silver to Bitcoin’s gold, Ethereum remains the #2 most valuable cryptocurrency.
Created by Gavin Wood and Vitalik Buterin and released in July 2015, ETH has experienced a rapid increase in value as its benefits become clear.
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.
Solana
Solana is a dedicated cryptocurrency solution and blockchain platform, hosting decentralized and scalable apps.
It was founded in 2017 as an open-source protocol by Solana Foundation from Geneva.
Its original cryptocurrency SOL is among the top five crypto options in the market with an average capitalization of $66 billion.
Solana is known for lower transaction fees on sports betting sites and faster processing time than Ethereum.
Apart from using proof-of-stake blockchain, Solana also utilizes proof of history technology.
How To Choose The Highest-Rated Solana Betting Sites In 2024
As a Canadian, you are spoiled for choice when it comes to Solana betting sites in Canada.
Yet, it is essential to take your time and choose carefully.
If you don’t, there’s a danger of picking a poor fit for your requirements.
This is why we’ve written comprehensive notes on the most important aspects of a site.
Credibility
Few things matter in your search more than locating SOL betting websites with positive reputations.
Sadly, if a shady Solana sports betting company hangs on to your Solana, 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 Solana betting sites in Canada.
Overall, it is essential to discover if the Solana betting site:
Is trustworthy
Enables you to get hold of your money easily
Has customer support worth mentioning
Deposits & withdrawals
The rapid nature of SOL transactions is one of its biggest plus points.
Yet certain SOL sports betting sites may lag behind industry leaders in transaction speed and have other issues.
Don’t use any Solana 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?
Looking for the best Solana Betting Sites? Read our guide
Finding details about online Solana sports betting websites is easy.
Sadly, misinformation and outright lies are features of Internet content.
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 website.
It might take us days to complete enough hours of play to be satisfied that we’ve analyzed everything.
We do this because we believe it is the only way to create the industry’s best review content.
While you will find hundreds of sports betting company reviews by our team, we’re only getting started!
Assortment of games and markets
If a sports betting site doesn’t have enough options to keep you entertained, you’re not likely to persevere with it.
SOL sports betting sites 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.
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 SOL.
Rewards and bonuses
Offering bonuses to attract users is a normal part of how any sports betting website operates.
Here are a few of the bonuses you can expect to find:
Welcome bonus
Bonuses for using Solana
VIP programs
No deposit bonuses
Reload bonuses
Please ensure you read the terms and conditions attached to each bonus.
They might seem like a good deal, but in reality, there are usually stipulations.
For example, you may have to bet through your initial deposit dozens of times to withdraw the bonus.
Customer service
Top-rated sites also take the needs of their customers extremely seriously.
Having easy transactions and a decent range of games and markets is only part of the equation.
When Solana sports betting companies ignore their customers, they are a waste of your time and money.
Encountering sports betting websites with dire customer service can ruin your day.
On the contrary, Solana sports betting sites dedicated to high-quality customer service are usually highly rated.
Such companies help solve issues efficiently, so you can enjoy the site.
Love Sports? Here’s Why You Should Pick Solana Betting Sites
Industry experts know that Solana sports betting sites are changing the game, and traditional bookmakers are worried.
Outdated fiat accepting sports betting sites can’t compete with the benefits offered by their new opponents.
Available sports and markets
Conventional sports betting websites no longer have the edge over Solana betting sites regarding available sports.
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 Solana sports betting sites.
If you like value and aren’t concerned about losing streaks, this represents a positive development.
eSports
Sports betting sites that accept Solana now allow you to bet crypto on e-sports, which are every bit as competitive as traditional sports.
Competitors from all over the world test their skills against one another, with huge prizes at stake.
If you’re interested in eSoccer, Apex, and SCII markets, a majority of Solana betting sites have you covered.
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 Solana betting sites.
Fewer restrictions & value odds
If you show too much skill, soft sports betting companies will either severely limit your bets or shut your account down.
Sadly, there is no legislation to stop sports betting sites from banning intelligent users.
Ultimately, you have to leave the sports betting website if your account is restricted because you’re no longer allowed to make big bets on any market.
With SOL betting websites, you get a fresh start with no restrictions and are less likely to have limitations placed on your account.
Another annoying thing about soft bookmakers is how often they cut the odds and kill the value.
With Canada Solana betting sites, the odds tend to move less rapidly, increasing the opportunity of seeing value odds on an event.
Does Canada Legally Allow Betting Websites & Digital Currency?
There is no guarantee that you can wager on any SOL betting site using crypto assets as it depends on your country’s rules.
Several countries don’t allow one or the other, and a few outlaw both.
While you can still try to register and deposit if you live in a country where SOL sports betting websites are prohibited, it is an unwise choice.
Should the site choose to ban you and keep your money, there’s nothing you can do about it.
Thankfully, Canada allows Solana sports betting site use as long as you follow the country’s general rules on crypto and gambling!
I live in Canada; can I legally use Solana?
Yes, it is completely legal to buy and sell SOL on exchanges and make purchases with it.
Despite the easy availability of digital assets, they are not considered legal tender.
This means the Canadian Revenue Agency (CRA) refuses to accept it as a means of paying tax.
Please note that the Agency expects you to pay tax on cryptocurrency earnings.
Accordingly, during tax season, you have to outline any profit/loss on it.
Also, cryptocurrencies are unregulated in Canada.
Therefore, many businesses remain unwilling to accept them as payment without the protection of a central authority.
Solana betting sites are willing to make this choice, knowing they could attract a growing number of customers.
Can Canadians Bet online?
As a resident of Canada, you are legally permitted to bet online.
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.
On the side of sports betting companies, no business in this industry is legally allowed to operate within Canada’s borders without the permission of a provincial government.
Even so, this fact hasn’t prevented over 1,000 unlicensed offshore sites from offering their services to Canadian residents.
Where is the best place to purchase SOL?
You can purchase Solana on exchanges.
Bear in mind these exchanges are regulated like money services businesses in Canada.
As a result, such crypto marketplaces must conform to the same rules regarding reporting, recordkeeping, due diligence, and verification.
In June 2020, new legislation mandated that digital exchanges had to register with FinTRAC.
This is the agency that deals with financial crimes in Canada.
Strong regulation in Canada and a high level of Solana security means buyers and users are well protected.
Single-game betting is now legal
In Canada, the laws relating to gambling date back to the Criminal Law Amendment Act, which the Canadian Parliament agreed upon in 1969.
Rather than regulating gambling on a federal level, the government permitted Canadian provinces to regulate and license gambling in 1985.
Ultimately, the law was a massive boost for the casino industry as a significant number opened throughout Canada.
This particular law hasn’t changed since, so provinces began allowing online gaming as we entered the Internet age.
An odd quirk in the law limiting betting activity was only recently changed.
Up until August 2021, it was technically illegal to bet on a single game.
Finally, the government eradicated this rule via C-218, making it legal to bet on a single game.