- Ultra-Fast transactions speeds
- Virtual currency brings almost no transaction fees
- Caters to sports bettors with interest in technology
Betting Sites Accepting Bitcoin
Plenty of betting sites accepting Bitcoin do cater to, and accept Canadian sports bettors, so don’t be deterred from using this currency option or certain sportsbooks because it’s a relatively new form of currency. Below you’ll find a list of online sportsbooks that currently offer Bitcoin as a deposit and withdrawal option for Canadian bettors. Most of these sportsbooks also have tremendous initial deposit bonuses as well.
When the virtual currency Bitcoin appeared in 2009, nobody really knew what to make of it. Some touted Bitcoin as the future currency of online banking, while others disregarded it as nothing more than the next new fad on the block. Calling it a fad all these years later seems to be wrong now as Bitcoin has developed into a reputable form of currency that more and more online sportsbooks are willing to cater too.
It wasn’t like that at first since no nation in the world supported Bitcoin and thus it’s not governed by any body like all other currencies are. Yet, it’s legitimacy can’t be denied now and there are many sportsbooks out there that prefer to only deal with Bitcoin as the currency of use.
Bitcoin Online Race & Sportsbook Handicapping Sites
The biggest plus to using Bitcoin as a preferred currency of transaction the ultra-fast transaction times associated with the virtual currency. Because Bitcoin is virtual and not governed by anyone, deposit times at Bitcoin sportsbooks are done in a matter of minutes, and withdrawals are processed in an hour or two. Having access to either your betting funds or your winnings is definitely the biggest upside of using a Bitcoin sportsbook.
Secondly, because there is no governing body for Bitcoin, transaction fees are next to nil when depositing or withdrawing via this method. There are no third-party regulators dipping their hands into each transaction, ultimately saving you a tremendous amount in fees while speeding up the transaction as well.
Yet, arguably the same thing that makes Bitcoin very attractive to some (speed, no regulations), makes it very unappealing to others. Many sportsbooks out there are still hesistant to offer Bitcoin as a transaction method because of the lack of regulations. Furthermore, those bettors that prefer to play with “cash in hand” aren’t likely to use Bitcoin as a method because it’s a virtual currency that makes getting tangible cash a little tougher. Essentially with Bitcoin you are depositing/withdrawing from a virtual wallet of electric money.
There are definitely advantages and disadvantages to using Bitcoin sportsbooks, but for those believe that Bitcoin is the wave of the future in online banking, creating and establishing a betting account at these Bitcoin operated sites is a smart way to get started in the field.