- Fast, secure, and anonymous transactions
- Bigger welcome bonuses and additional incentives
- Higher limits on deposits and withdrawals
Canadian Sportsbooks that accept Bitcoin
An expanding number of Canadian online sportsbooks are accepting Bitcoin as a form of payment. As the number continues to grow, Canadians need more information so they can better understand the benefits of Bitcoin betting and how to use Bitcoin when betting on sports. They also need to know the best Canadian Bitcoin betting sites 2020.
Bitcoin Betting Sites – Sportsbooks that Accept Bitcoin
Where you can use Bitcoin has expanded over the last few years. One way you can use Bitcoin now is to bet on sports. While the list of online sportsbooks in Canada that accept Bitcoin is not as extensive as the list that accepts other forms such as Mastercard or Neteller, it continues to grow. If you use and trade Bitcoin, you should consider using it to bet on sports.
Benefits of Using Bitcoin for Sports Betting
If you use the cryptocurrency and gamble on sports online, you should consider making the switch to a Bitcoin sportsbook. Bitcoin holds many advantages over other transaction methods. We highlight some of the most significant benefits to betting with Bitcoin below. We also explain how to use Bitcoin when using a sports betting site.
Bigger Welcome Bonus and Additional Bonuses
Two of the top reasons to use the cryptocurrency are the higher welcome bonuses and additional bonuses available. When you grab a welcome bonus Bitcoins will often offer better incentives to new users. For example, many online sports betting sites give a significantly higher match when you sign up and make your first deposit using Bitcoin (and sometimes other cryptocurrencies, depending on the site).
A higher match on your Bitcoin bonus gives you more freedom to check out many different betting sports markets available on the betting site. Bitcoin welcome bonuses are often also higher for online casinos.
A larger welcome bonus is not the only bonus Bitcoin users will find on a Bitcoin sportsbook. Some Canadian online sportsbooks offer something called a reload bonus to Bitcoin bettors. Bettors who continue to use Bitcoin to make deposits are often eligible for a bonus every time they top up their betting account.
If you bet with Bitcoin, you can also be eligible for any other promotion or bonus currently available through your online sportsbook (or sportsbooks). That includes friend referral bonuses, ongoing promotions, free bets, and rewards programs.
Advanced Security and Anonymity
Bitcoin is renowned for its advanced security and anonymity. Bitcoin is encrypted and uses a system called Blockchain. Blockchain encrypts every transaction on the Bitcoin system to keep your Bitcoins safe from hackers and your information extra secure.
The way Bitcoins works also allows for anonymity. Bitcoin transactions link to a Bitcoin wallet and a QR code. The QR code and string of letters and numbers attached to a Bitcoin wallet allow for anonymity when making transactions online – that includes making deposits and withdrawals through your Bitcoin sports betting site. If you are concerned about security and hackers gaining access to your personal information, you should make the switch to Bitcoin. You will always feel safe when you place a Bitcoin bet.
Lightning Fast Transactions
Speed is a massive advantage when using Bitcoin. While most deposit methods such as InstaDebit process instantly – or at least within a 30-minute window – no withdrawal method can match the speed of Bitcoin.
The speed of a Bitcoin withdrawal does vary, but overall, Bitcoin withdrawals process faster than any other method. Generally, a withdrawal request processes in less than 30 minutes. Occasionally, a request may take up to two days (large requests will often take longer), but even that is faster than other methods, which frequently take up to five business (some times even longer, if you have not verified your account information) days to appear in your account.
Avoid Fees and Rejected Transactions with Bitcoin
An underrated advantage to Bitcoin gambling is the ability to avoid fees when making deposits and withdrawals. Online sportsbooks never charge fees when making a Bitcoin transaction. There are also no surprise fees on your end – like some credit cards that charge a cash advance fee when you make a deposit. You only need to deal with a Bitcoin miner fee – which you can decide how much to pay (the larger the miner fee you pay, the faster the transaction).
You also do not need to worry about rejected transactions when using Bitcoin. Some Canadian banks and credit cards will suddenly block transactions to certain online sportsbooks. This causes all sorts of headaches for bettors, who need to set up a new deposit method – which may require verification. If you use Bitcoin, you never need to worry about this happening.
Higher and Lower Deposit and Withdrawal Limits
Bettors using Bitcoin will find most online sportsbooks set the minimum deposit and withdrawal amount lower and the maximum withdrawal and deposit amount higher than other transaction methods. The broader range between the minimum and maximum transactions gives bettors more flexibility.
A lower minimum deposit makes it easier for Bitcoin bettors to use multiple sportsbooks, making it easier for line shoppers and those wanting to try out new sites (without depositing too much at the start). The higher maximum withdrawal amounts make it easier to collect your winnings at once.
How to Use Bitcoin When Betting Online
There are a few steps to complete before you start gambling Bitcoin on a Canadian online sportsbook. First, you will need to create an account with the sportsbook (or sportsbooks) that accepts Bitcoin.
- Pick one of the online sportsbooks listed at the top of this page
- The link should take you right to the sign-up page
- Enter your email and necessary information on the sign-up page
- Validate your email address
- If requested, submit a valid piece of ID to verify your age and identity
After completing sign-up, but before you make your first deposit, make sure you grab the Bitcoin welcome bonus. You will need to claim this bonus BEFORE making your first Bitcoin deposit. If you skip this step, you cannot receive the welcome bonus. You should still be eligible for other rewards, such as reload bonuses.
Once your account is verified, you can make your first Bitcoin deposit. A few sites may offer a Bitcoin no deposit bonus – where you get a free bet before making your first deposit. These bonuses often come with specific wagering requirements (minimum odds, bet happens within the next few days…etc.), and money won may only be eligible for betting and not withdrawal. Still, a free bet to top up your bankroll before you even make a deposit is worth checking out.
Here are the steps to follow when making a Bitcoin deposit
- Go to the deposit section of the sportsbooks
- Selection your method of deposit (Bitcoin)
- Double-check you are receiving the welcome bonus or a reload bonus
- Enter the amount in Canadian dollars you want to deposit and click deposit
- The sportsbooks will send you a transaction ID with your deposit information, a Bitcoin address and a QR code
- Scan the QR code or enter the Bitcoin address into your Bitcoin wallet to continue, double-check it and confirm
- Enter the same amount listed in the transaction ID into your wallet
- Select your miner fee, and once the sportsbook receives the Bitcoin, you are ready to start betting
Completing a withdrawal is a similar process.
- Select withdrawal
- Select Bitcoin
- Enter the amount in Canadian dollars you wish to withdraw (the amount will be converted into Bitcoin)
- Send your Bitcoin address to the sportsbooks, double-check it is correct, and confirm
- The sportsbook should send you a confirmation message that your withdrawal has been processed
- You should see your money in your Bitcoin wallet in as little as 30 minutes and no longer than two days.