Lately, cryptocurrency and gambling have been matching perfectly. The no verification issue, anonymity, and instant payouts are the reasons why more Canadians switch to crypto online betting sites. Besides, gambling regulations in Canada are changing with the start of the consideration of Bill C-218 about single-event sports betting. Very soon, Canadian players will have much more options for online sports betting. So, bet on your favorite sports teams at the best crypto sportsbooks listed below.
Crypto Sports Betting Sites
Some of these sites such as Bodog accept only bitcoins, but most of them allow depositing and withdrawing via multiple cryptocurrency options. So, choose the one that has your favorite payment method and join it. You can read the full details of each sportsbook by clicking on their names.
Why Use Crypto Sportsbooks
There are obvious reasons why online bettors prefer wagering bitcoins on sports events. Crypto gambling is way better than betting on regular FIAT currency online casinos and sportsbooks. We are sure that after reading this, some casino players will simply refuse to keep gambling on the previous websites with FIAT currencies. Are you one of them? Let’s find it out!
No Lost Money
The risk of losing money is minimal. Security in the blockchain system is natural since the chain started to exist. Most sportsbooks convert BTC into CAD when you deposit and convert the CAD winnings back to BTC when you cash out. This protects you from the volatility of cryptocurrency. Besides, if there is a hacker on your online sportsbook, he will never have access to your funds.
If you use Bitcoin-only sportsbooks, there is a possibility that your BTC wallet can be hacked in case you are using a ‘hot wallet’ to store your bitcoins. If you want to use a bitcoin-only sportsbook, we advise that you check its security and apply some additional safety measures to your account of sportsbook and bitcoin wallet.
More Betting Options
Traditional online sportsbooks vary and can have many good options for betting. However, crypto sportsbooks are in no way worse. They will let you bet on many sports events in almost every category ranging from football to cricket. Some of them will even have a politics section where you can bet who’s winning the next US election. Esports are also included in the list of betting options as one of the young sports.
Some players get really tired of 2-3 day waiting. First, it’s verification, then it’s approved by a bank. It takes a lot of time when cashing out using the traditional banking card option. With cryptocurrency, it isn’t like that at all. You simply complete the withdrawal form and send the request which is quickly operated, and in mere seconds you can see your crypto coins on your account.
No ID Verification
One of the main reasons bettors choose crypto sportsbooks over the traditional ones is no need to verify your account. Crypto betting websites don’t require you to scan your ID or send the utility bill to verify your address. This is not necessary for their security because blockchain is one of the most secure spaces. The code which you paste at the time of withdrawing already shows that you’ve made the request, not another person.
Highly Developed Customer Service
Online gambling venues that have recently been established on the market are very loyal to players. Besides, the crypto sportsbooks operate in the narrow direction connected with cryptocurrency. That is why the support team usually includes dedicated people who know a lot about cryptocurrency issues and gambling.
Loyalty Programs & Bonuses
Online crypto sportsbooks also have loyalty programs with rewards and additional perks for bettors and players. Regardless of your preferred gambling activity on the website, you can take part in the bonus systems and benefit more from betting. For example, Stake online casino and sportsbook has a very beneficial program with bonuses free of wagering requirements.
Crypto bonuses are also much cooler than traditional ones. Some crypto sportsbooks can reward you with up to 7 BTC on your first deposit. Look for the other bitcoin bonuses at the best sportsbooks.
Low Transaction Fees
Using cryptocurrency for sports betting means paying smaller fees. Some casinos won’t charge you anything, though. However, it depends on the gambling platform you are using. Most of the time, you pay a low fee for a transaction. And there can be conversion gaps if you exchange FIAT currency for bitcoins, dogecoins, or any other crypto.
If you use only cryptocurrency methods to deposit and withdraw money, you will never see your wife or husband shouting at you about gambling. Even though they have access to your bank accounts or a crypto wallet, there is no chance they will ever see where the transaction was made to and from. Blockchain is anonymous and transparent at the same time. You can see the sum of money sent, but you cannot identify who the recipient is and who the sender is. So, feel free while betting on sports with your BTC, DOGE, ETH, LTC, or whatever crypto you have.
These are not all, but the most obvious reasons why Canadian sports bettors choose crypto online betting sites. If you try it out, you can find more perks, especially if you choose a good crypto sportsbook. Pick a site from the list above, read the review, and start betting!
Betting on sports is more fun, comfortable and easier when you use your crypto coins for it. Remember that you can benefit a lot from wagering BTCs. The main advantages are anonymity, quick payouts, and no ID needed. There are a few disadvantages like poor regulations and volatility of the crypto, but this doesn’t make too much difference. If you are hesitating, stop it and try crypto sports betting. Form your opinion about it, and if it’s negative, you can always return to the traditional online sportsbooks.
It is easy and takes no longer than a traditional fiat currency method. Your wallet has a unique address that you share with the sportsbook. Check that the address is correct before sending the withdrawal transaction. Mind that once you’ve made a transaction, you cannot cancel or change it.
Crypto makes not only your life easier but also that of the bookmakers. Employing only cryptocurrency methods, sportsbooks don’t need to deal with banks and payment service providers. Besides, they don’t pay fees while making a transaction (all reliable sites pay transaction fees themselves instead of the customers). Additionally, if the value of crypto becomes higher, more players come to play and multiply it thus having a bigger sum in their wallet.
Cryptocurrencies, especially bitcoin, are volatile things. One day it’s super high in value, the next day you see the double decrease in the price. This depends on the buying and selling of bitcoin. One should get used to this to catch the right time of betting on sports with crypto. So, if you don’t think it’s a big deal, then bet your crypto coins.