- Is betting online with crypto legal in Canada?
- Are crypto gambling sites in Canada different from fiat currency sites?
- The international advantage of using crypto gambling in Canada
- Can you expect promotions when using crypto Canada betting sites?
- The added security benefits of crypto gambling
- Why eSports and crypto betting Canada are a perfect match
- The other side of the crypto coin: Are there potential complications to using crypto?
- How to make sure you’re choosing a quality Canadian crypto betting site
- Conclusion: Crypto gambling in Canada has a bright future
- Crypto Gambling in Canada FAQ
Is betting online with crypto legal in Canada?
Before we get into the advantages of crypto gambling sites in Canada, we must first tackle the question of legality. The legal situation with regards to gambling in Canada is distinct from the crypto gambling sites UK, the USA, Europe, or anywhere else, and must be understood as the unique situation it is.
There are two key considerations here. First is the legality of betting itself. This recently changed, with single game sports betting becoming legal throughout Canada in 2021.
However, it’s down to the individual provinces to decide whether they actually want sports betting within their jurisdiction. Ontario became the first to open its doors on April 4th 2022. You’d need to look up your province to see whether sports gambling generally – without taking crypto gambling Canada into account – is legal. Canadians are also allowed to play on offshore online casinos.
But what about crypto gambling sites in Canada? Well, cryptos are legal in Canada. So, gambling is legal (with the final decision on single game sports betting being down to the province) and cryptos are legal. Thus, crypto gambling should be considered legal. But there are some things to keep in mind.
It’s important to note that crypto is not considered legal tender in Canada. That doesn’t impact how you can use crypto personally, but it’s good to remember this when using crypto gambling sites in Canada.
The reason for this is related to crypto gambling taxes Canada. This is the point of some discussion, as while gambling winnings are not taxable in Canada, cryptos themselves are subject to income tax or capital gains tax. This means that logistically, you shouldn’t be taxed at the point of acquiring cryptocurrency, but can be when you dispose of it – for example, when you sell that cryptocurrency.
Are crypto gambling sites in Canada different from fiat currency sites?
If you’ve never used crypto gambling sites before, you’re probably wondering what they are actually like compared to your more mainstream examples. Well, the truth is that they’re largely the same.
Ultimately, betting sites that use any kind of currency are trying to achieve the same thing – which is to provide you with the best betting experience possible. Every betting site does have its own positives, negatives, personalities and target audiences. But there are few implicit differences to using a crypto betting site compared to one which offers fiat currencies. In fact, nowadays it’s pretty common for a betting site to offer both.
Nonetheless, there are some things to keep in mind, which are more due to the nature of the currencies than the sites themselves. We’ll be covering these later in this article. Our next section is one such example.
The international advantage of using crypto gambling in Canada
While there isn’t necessarily a difference between individual betting sites based on the payment options available, it’s fair to say that crypto gambling in Canada offers you more choice. The reason cryptocurrencies open up such a huge amount of betting sites to Canadians is that they are without borders. Theoretically, anyone with cryptocurrency can bet on any crypto betting site. You may find, for instance, that the finest crypto gambling sites India could also be considered for Canadians.
And more choice means there’s more chances of you finding that perfect online betting experience. It also improves the general quality of betting sites all round. More options means more competition, which typically leads to better betting sites. This is especially important in Canada, where – because it remains early days since the legalization of sports betting – there are fewer options right now than some other markets where online gambling has been around for longer.
Can you expect promotions when using crypto Canada betting sites?
We said earlier that you can largely expect everything you would from a fiat currency betting site when using cryptos, and this includes all those promotions we love so much. When crypto betting sites first started emerging – often with their own unique games like Dice – there wasn’t that much in terms of bonus options. Thankfully though, today, crypto gambling in Canada can compete in every regard, including promotions.
On many dedicated crypto betting sites, you’ll find promotional pages that can match the absolute best the world has to offer. However, there are a couple of things to consider here. Firstly, some mainstream betting sites now offer crypto. That’s fantastic news, but on some, they are viewed as an afterthought. As a result, cryptos are often left out of many promotions. If you find a site that takes crypto betting seriously though, this shouldn’t be the case.
It’s also worth pointing out that promotions may focus on specific cryptocurrencies. This means that you’re much more likely to enjoy a broad variety of promotions if you’re using popular options such as Bitcoin, Ethereum or Dogecoin.
Check out these crypto gambling bonuses in Canada
The added security benefits of crypto gambling
One of the key reasons people use cryptocurrencies – not just in the world of betting but generally – is because of their excellent security.
Cryptos use blockchain security and cryptography to maintain safety. This is the case for pretty much any mainstream crypto option you’ll come across, including Bitcoin. You can also enhance your safety when using cryptocurrencies by choosing cold wallets.
They are also anonymous and free from most third-party scrutiny due to decentralization. This means they have several natural security advantages over fiat currencies. Put simply, all else being equal, you should be safer using crypto gambling sites in Canada than traditional options.
Why eSports and crypto betting Canada are a perfect match
To be clear, you can expect the finest crypto betting sites in Canada to be great at pretty much any kind of sports betting. However, we do happen to think that they’re especially good when it comes to eSports.
Why? Well, both are revolutionizing the way we bet online. Thanks to eSports, there’s a whole new library of electronic sports to choose from. It’s like we’ve discovered an entire universe of new sports and betting opportunities.
Crypto gambling, in a similar fashion, opens up an entire world of operators. Both have vastly enhanced and expanded what is possible and what’s available in terms of betting online. Perhaps that’s why so many crypto betting sites offer such an amazing selection of eSports markets. They know – just like we do – that they’re a match made in online betting heaven.
The other side of the crypto coin: Are there potential complications to using crypto?
In the interests of fairness, we think it’s also important to point out potential considerations when using cryptocurrencies. Keep in mind too that we’re talking specifically about gambling. We won’t be speculating on any future crypto investment risks, as that’s a distinct and complicated subject all on its own.
In terms of crypto gambling sites in Canada, we’d say there are two key considerations. One is that if you don’t have cryptocurrencies, there’s a couple of extra banking steps. These are really simple, though. They basically require you to buy some crypto, put it in a wallet, and then transfer it to a betting account.
The other issue is that not all betting sites offer crypto – and that may include your favorite operator. We think that crypto gambling in Canada has more than enough fantastic options to please just about everybody, even if you take crypto gambling Australia into account.
. However, your favorite is personal and we can’t say that all options, just yet, offer crypto. Even on this point though, we would suggest that crypto gambling is still worth considering. There’s no reason you can’t have multiple accounts with multiple currencies, after all. In fact, that can even open you up to even more promotional goodness!
How to make sure you’re choosing a quality Canadian crypto betting site
The variety of crypto gambling in Canada is vast. And while that’s largely a positive, it does mean it can sometimes be tricky finding one which works for you. To help you on your journey, we have incredibly high standards for our reviews. So, if it gets a recommendation from us, you can guarantee the operator is worthy of consideration.
However, the final decision comes down to your personal preferences. If you’ve read some of our reviews and have some operators in mind, here’s how we’d recommend going forward to separate objectively good crypto gambling sites to find one which is perfect for you:
- Head on over to the site yourself. Remember you don’t need to deposit any money to have a look around.
- See how aesthetically pleasing the site seems to you. Looks aren’t everything, but with so many great options out there, you can afford to be picky.
- Check it works with any mobile requirements you require. This may require you to download an app.
- Look up the promotional page. See if the offers, terms and conditions work for you.
- Check out the sports betting markets. You may want to check too that they’re suitable for crypto gambling in Canada in terms of covering popular sports such as the NHL, Lacrosse and even newer Canadian Leagues such as the CPL. While this is a matter of preference, one key distinction between the best sites for crypto gambling Australia and Canada is sports focus.
- Check they have any additional betting products you’re interested in. This can include a dedicated casino. See if the casino has the games you’re interested in.
- Look at the payments page to ensure the limits work for you. The best crypto gambling sites in Canada should make this information simple and clear.
- If everything looks good, sign up and deposit some money. Make sure to take advantage of any good crypto sign up offers. Remember that if you change your mind, you can always sign up somewhere else. Indeed, you can sign up to as many betting sites as you wish.
Conclusion: Crypto gambling in Canada has a bright future
The possibilities really are endless when you combine the newly legalized sports betting of Canada with crypto gambling. While there’s still plenty of potential for even more betting options in the future – especially as sports betting becomes available in more provinces – we’re happy to say that there’s tons of options for many of our Canadian readers available right now.
Make no mistake, the finest crypto gambling sites in Canada can hang with the best in the world featuring any form of currency. Plus, the benefits of using crypto to bet online arguably far overshadow any negatives, thanks to an international selection and greater security. If you’re looking to get more out of betting online, we’d say that checking out your crypto options is a fantastic step in the right direction.
The best crypto bonuses
Crypto Gambling in Canada FAQ
The legality of crypto betting in Canada is actually a rather complicated question. That’s because it’s asking both about the legality of betting online and then the legality of crypto, and how those two considerations work together. It’s not a simple thing to answer, but our guide about crypto gambling in Canada is more than up to the task.
To wrap your head around betting with crypto, it’s a good idea to know how cryptocurrencies and fiat currencies compare. What’s the difference between them? What advantages might one have over another when betting online? Our guide is all about helping Canadians understand crypto gambling, so we’ll be covering all this and more.
One thing that crypto gambling has in common with betting with fiat currencies is that whatever method of payment you’re using, finding the best betting site for you should always be of prime importance. It’s certainly a top priority in our guide to all things Canadian and crypto betting related. Here, we’ll be covering not just how to find a good cryptocurrency betting site, but one that’s right for you.