- Ultra-Fast transactions speeds
- Virtual currency brings almost no transaction fees
- Caters to sports bettors with interest in technology
Bitcoin: the digital currency that has taken the Internet by storm is also beginning to take over the gambling world. While many sportsbooks are still hesitant to accept bitcoin betting due to the lack of regulation around its system, some prominent sites are beginning to adapt.
Our Canadian online sports betting guide provides an extensive list of books that accept the currency. Betting with bitcoin is fast and easy and may even more reliable than the traditional methods like credit card or bank transfer.
At CanadaSportsBetting.ca, we make it easier for you to find all the information you need when it comes to bitcoin gambling. Whether it's bitcoin sports betting, using bitcoin, or finding websites that accept bitcoin, we have it covered.
Is Bitcoin Betting legal in Canada?
Like betting with fiat currencies, bitcoin betting is safe and legal in Canada. Online betting can seem intimidating especially for beginners, but since the sportsbooks are not officially within Canadian territory, the Canadian gambling laws do not apply towards them.
Bitcoin gambling legality is not explicitly controlled or sanctioned by the Canadian federal government or by any Canadian bank. Unlike some credit cards and debit cards, which your bank accounts can block from activities from online sportsbooks, you can dispense your Bitcoin without issues.
Go ahead and start using Bitcoin to bet. It isn't only a faster and smoother transaction, but one that is absolutely legal.
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Best Bitcoin Sportsbooks
Bitcoin betting sites are limited for now, but they are among the industry leaders in the betting industry. There is a decent amount of choices to pick from and depositing in two or three books, which is recommended to take advantage of all their offers and alternative betting lines, is plausible.
The best bitcoin sportsbook is ideally the one that fits your style and provides the best markets for the sports you follow. Be sure to read our reviews for the sportsbooks and to check their website to find what they offer for your respective sport.
Also be sure to read their terms and regulations to find how they deal with Bitcoin deposits and what requirements they need when it comes to withdrawing and depositing in general.
We recommend signing up for three books: one that is your go-to book, an industry leader in the sport you focus on betting, and two that offer different markets and/or offers.
When signing up for multiple bitcoin betting sites, divide your bankroll within the sites. This will also ensure you do not get too invested and bet everything you have on a handful of bets.
Betting on bitcoin is just like betting with any currency although it also depends how much you value your bitcoin relative to other currency. But first, there are some bitcoin-exclusive tips to consider.
First, some sportsbooks treat bitcoin differently than any other deposit. You may get a better deposit bonus by using bitcoin. And for most of the books that process bitcoin, depositing and withdrawing bitcoin is a lot faster than regular currency.
Next, in order to use bitcoin, you will need to be a verified user. Ensure you have this sorted out immediately.
Have a budget in mind when betting. This means allotting only an exact percentage of your bankroll when making a bet. Most professionals use a "unit" system when betting. A unit represents a percentage of your bankroll. E.g. If you have $1,000 in total, then a unit is $10.
Stay disciplined and measure the value of each bet before making the commitment.
Choosing the best bitcoin betting site
You can start by choosing the best bitcoin betting site by using the table we provided above. Find all the sportsbooks that accept bitcoin, then read our reviews followed by going to the actual sites. Bitcoin bets are fast and easy.
Peruse each site and find the markets they offer for the sport you are betting on. How many do they offer? What are their betting lines? How often do they update and how early do they release lines?
These are just some of the basic questions you need to use when deciding how productive a sportsbook is with your relative sport.
It will be wise to open accounts on multiple books as they may offer different markets. Your main betting site will be the one that offers the most markets while your alternative sites may offer some exotic bets that only they have.
Lastly, find the different promos and offers a sportsbook has and if they apply for Bitcoin. Even better, do these books offer better promos if you use bitcoin?
How to find the best Bitcoin sports welcome bonus?
For the most part, a bitcoin sports welcome bonus is just like every welcome online gambling bonus. Provided you follow the terms and conditions of the bitcoin sports betting sites of your choosing, you will qualify for the bonus. The bonuses can range from the book matching every dollar you deposit up until a certain amount.
This is usually contingent on a few factors such as meeting the minimum deposit requirements. You have to be a new customer to meet the welcome bonus. Other factors may include:
- A minimum bet
- A bet on a qualifying sport/event
- Cash balance is used first before bonus
- Bonus winnings go into bonus balance
- Only bonus stakes contribute towards wagering requirements
It differs per sportsbook, which is why it's advisable to sign up for as many. The good news is you will qualify for each new sportsbook you sign up for provided you meet their requirements.
To find the best bitcoin sign up bonus, you can check the best sportsbook bonuses online.
Make sure to review the book to ensure they cater towards the betting markets you are looking for.
Can I get a no deposit bonus with bitcoin?
A no deposit bonus is a special bonus a sportsbook may offer customers before they make a deposit so they can try the sportsbook out. This is usually provided under special circumstances such as creating a new account or entering a contest. This is available with certain partners of ours.
While it's not easy to get a no deposit bonus for bitcoin, it can be done when you understand what the sportsbooks is doing it for. Usually, they are doing it for marketing purposes and to let players with bitcoin know they are catering towards them.
If you have more questions, get in touch with the customer service reps of the online bitcoing gambling sportsbook of your choice and inquire about the bonuses.
Sports Betting with bitcoin
You can bet on virtually any sport with bitcoin. Sports betting bitcoin is just like sports betting with any currency.
Catch the action from big sports and major sporting events from the Super Bowl to the FIFA World Cup to hot new sports like esports and UFC and even non-sports events like politics and award shows in entertainment.
With literally hundreds of sports and events to choose from and countless markets, you are limited only by how much you can keep up with.