The world of online betting is growing at an alarming rate. People are attracted to the thrill, excitement and possibility of winning big that comes along with betting on almost any sport or event you can imagine. But what is even more exciting than conventional sports betting is the rise of cryptocurrency and blockchain technology. That’s right, the best part about cryptocurrency is that it’s not just for buying goods and services from eCommerce portals or paying for services rendered by businesses who accept crypto as payment. It also comes in handy when you want to bet on your favorite team or athlete without having to hand over your personal information in the process. There are many ways to enjoy wagering on sports contests using crypto, but the sites listed below are our recommendations for the best experiences available today for Canadian users:
Top 10 Crypto Betting sites in Canada
Crypto Sports Betting in Canada: How Does It Work?
First and foremost, you will need to have some cryptocurrency on hand in order to place your wagers. You can do this by buying the crypto coins you want to use for betting with Canadian dollars through an online exchange, or you can win crypto by playing in online casinos. The sportsbook that you choose will have rules and regulations regarding how much of your crypto balance you can use to place a bet. Most sportsbooks allow you to bet up to 100% of your funds in crypto, but some will allow more. There are a few ways to place your wagers using crypto coins. The most common way is to log in to your sportsbook account and click on the “betting” tab. At this point, your account will be connected to a crypto wallet where you can send your funds from the exchange. You can then choose the sports contest for which you want to place a bet and click on the “bet now” button. The sportsbook will ask you to enter a number, which is basically just an “odds” type of number that tells the site how much you want to risk on the outcome of the contest. A pop-up window will appear where you can enter the amount of funds you want to wager. This amount must be 100% or less than the amount in your wallet.
You can make deposits and withdrawals to the sportsbook of your choice using cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), or Ripple (XRP). Many cryptocurrency exchanges offer free transfers between users, so you can even send funds from one exchange to the sportsbook of your choice with no added fees. If you do not own any of these currencies, no worries. You can easily buy cryptocurrencies from exchanges in Canada and other parts of the world.
How Do We Rate Crypto Sports Betting Sites?
There are a lot of factors that go into deciding which are the best crypto sports betting sites for Canadians. These include the overall design and user experience of the site, the types of bets that are offered, the variety of sports and events for which you can place a wager, and the reputation of the sportsbook. While the first three factors are important in any type of sports betting site, reputation is very important in the crypto sports betting world since there are so few sites available. This is especially true since Canada is still in the process of regulating blockchain sports betting and sportsbooks that accept crypto as payment. That said, we have done our best to create an unbiased list of crypto sports betting sites that we believe are the best in the business. Each site was analyzed on a case-by-case basis, taking into account the aforementioned factors, as well as user reviews, ratings, and feedback that we’ve compiled.
Types of Bonus Offers Crypto Sports Betting
There are three types of bonus offers that you’ll find when you sign up for a crypto sportsbook. The first is a welcome bonus that is given to you when you join the betting site for the first time. The second is a reload bonus that you can earn by depositing funds into your sportsbook account. The third is an affiliate bonus that you can receive by referring a friend or family member to the sportsbook. In terms of welcome bonuses, some of the best crypto sports betting sites provide you with a 100% deposit bonus, which means you can deposit $100 and receive that $100 in betting funds. You can also expect to find reload bonuses with a tiered structure, so that the more frequently you deposit funds into your account, the more bonus money you will receive. The last type of bonus is an affiliate bonus that you can earn by referring friends and family members to the sportsbook.
Tips for using the best crypto sports betting sites
- Pick a sportsbook that accepts both cryptocurrencies and CAD for deposits. This will allow you to bet on the widest variety of contests and events.
- Make sure you pick a sportsbook that has a mobile app. This will make it easy for you to place wagers on the go.
- Look for sportsbooks that provide top-notch customer service. This will make it easy for you to solve any issues or problems you run into.
- Always make sure you understand the site’s rules and regulations. This will help you to avoid getting into any trouble with the sportsbook or the authorities.
- Stay alert for new crypto sports betting sites that pop up on the internet. This will allow you to choose the best site for your needs.
- Always keep an eye on the value of your crypto. You don’t want to overspend when you place a wager.
- Be careful who you share your personal information with. Don’t give your information to anyone you don’t trust.
FAQs
What sports can I place wagers on using crypto coins?
This really depends on the sportsbook that you select. In general, crypto sports betting sites offer a wide variety of contests for all manner of sports, including basketball and soccer.
When will Canada legalize crypto sports betting?
It is expected that sports betting where cryptocurrencies are used will be legalized in Canada sometime in 2023.
How do I know which crypto sports betting site is the best?
First, make a list of the sportsbooks you think are the best based on the criteria above. Then, compare each site side by side, taking into account the factors listed above.