• 100% up to $100
  • 5.0
Advantage list
  • Fast Payout
  • Cash out
  • Live Betting
  • Fully Licensed
Disadvantage list
  • Limited game options compared to other Bookies
  • 100% up to $100
  • 5.0
Advantage list
  • Great odds
  • Extensive amount of games covered
  • Exceptional bet types available
Disadvantage list
  • Web version of the site can be confusing to stake
  • Cash out option is not smooth or consistent

With Bitcoin growing in popularity, it’s no surprise that the Bitcoin sports betting industry has become extremely competitive.

But with so many Bitcoin bookmakers competing for your hard-earned coins, how do you sort the trustworthy from the scammers?

Here’s our guide to the Best betting sites with bitcoin in Canada, as well as how betting with Bitcoin works.

What is Bitcoin?

Bitcoin is a form of cryptocurrency – a purely digital type of money that’s used online. It can be used to buy goods and services online or, in this case, to place bets.

It’s the first form of technology to allow the transfer of digital currency without the need for a third party. So, you can send Bitcoin to anyone in the world without the need for a bank or other financial institution.

Bitcoin is completely decentralized, meaning there’s no one institution that controls it. And, instead of being issued from the top-down, Bitcoin is mined by powerful computers connected to the internet.

Is it legal to deposit on betting sites with Bitcoin In Canada?

The legality of Bitcoin is a tricky subject. While, strictly speaking, Bitcoin isn’t considered legal tender in Canada, it’s not technically illegal either. In fact, the Canadian government accepts that digital currency transactions take place and tax them accordingly.

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So, what does this mean for punters? Well, you are allowed to deposit Bitcoin onto your betting account, and the booker is allowed to accept it.

Can you deposit and withdraw with Bitcoin in Canada?

Absolutely. Just like any other ‘traditional’ currency, you can make deposits and withdraw your winnings from betting platforms using Bitcoin.

In fact, more and more Bitcoin bookmakers are offering ‘no deposit’ bonuses to draw punters to their platforms. While many sign up promos require a deposit before issuing the bonus, a ‘no deposit’ bonus means you can try a free bet without the need to deposit any Bitcoins.

For those promos that do require a deposit, they tend to offer bigger incentives when dealing with Bitcoin. Also, a key advantage of using Bitcoin to bet online is that transactions are usually much faster than other currencies and payment methods. Some traditional transaction methods – such as bank transfer – can take up to 5 days to process withdrawals. Bitcoin, on the other hand, is instantaneous.

Bitcoin fees for betting sites in Canada

For many online bookmakers, Bitcoin is easy to deal with. That’s why there’s usually no withdrawal fees involved.

However, some do charge for Bitcoin withdrawals – often flat rates, but sometimes as a percentage (e.g., 5% of the withdrawal total).

Some top betting platforms such as Betway don’t accept Bitcoin at the moment, although they’ve admitted this might change in the near future.

Other bookmakers like Melbet and 22Bet accept Bitcoin without any withdrawal or transaction fees.

Pros and cons of using Bitcoin betting sites in Canada

Bitcoin has the potential to completely change the way we bet on our favourite sports, with lots of advantages over traditional forms of payment. However, as it’s a relatively new concept, it’s no surprise that there are a few teething issues.

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Here are the pros and cons of betting with Bitcoin:

Pros

  • Faster – Deposits and withdrawals can be processed quicker than other payment methods, such as bank transfer or credit/debit card
  • Safer – It’s more secure than traditional payment methods. As you don’t need to supply your private data when paying with Bitcoin, it can’t be hacked and stolen from you
  • Preferred method – Many sports bookmakers, including William Hill, Melbet and 888Sport, actually prefer transactions in Bitcoin, as they are easier and more reliable
  • No fees – While many withdrawal methods come with fees, Bitcoin generally comes without fees

Cons

  • Volatile – the Bitcoin market is hard to predict, meaning your digital currency could quickly lose its value. In truth, however, the same could be said about legacy currencies
  • Not as available – while many top bookmakers – including William Hill and Melbet – are embracing the shift towards digital currencies like Bitcoin – it’s still not as widely accepted as other currencies

Best betting sites with Bitcoin in Canada

Melbet

An excellent betting platform for beginners, Melbet has a slick, easy to use interface, both in the web browser platform and mobile app. The sign-up bonus is above average and there are plenty of regular promos. For Bitcoin enthusiasts, the ability to deposit and withdraw with Bitcoin is a massive plus. All in all, it’s definitely worth checking out this up-and-coming bookie.

William Hill

One of the most respected bookmakers on the planet, William Hill is one of Bitcoin’s biggest supporters among the top bookies. They even called it the future of the free market. So, expect no fees and rapid transactions when betting with Bitcoin through William Hill, as well as a slick platform, a huge sportsbook, and tons of betting options, all with the first-class service you’d expect from a big name like William Hill.

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22Bet

While 22Bet hasn’t been around as long as some of the big players in the online betting market, it’s fast making a reputation for itself as a trusted bookie with plenty to offer, it doesn’t skimp on payment methods – there is a lot here, including cryptocurrencies like Bitcoin, Litecoin, and Dogecoin. It has a good sportsbook too, with all the top sports you’d expect, along with a few obscure ones. 22Bet’s live betting platform is also outstanding.

Start Betting with Confidence!

For further information about the financial aspects of your sportsbook and betting strategies, check out some of our best articles:

Deposits and Withdrawals:

and much more