Welcome to the world of Bitcoin sports betting! With the rising popularity of digital currencies and the legalization of single-game sports betting, several Canadian Bitcoin betting sites burst onto the market—perfect for crypto enthusiasts to enter the sports betting scene!
After all, would you rather waste all your time mining BTC, or are you the type willing to risk it ALL—ahem, we mean, a reasonable amount—for the chance to win big? Joking aside, you should only wager what you’re willing to lose and always know the risks, even if you’re a pro sports bettor or a Bitcoin aficionado. Read on to discover the best Bitcoin betting sites Canada has to offer, how to make your sports betting debut and the intricacies of sports betting with digital currencies.
Can I bet with Bitcoin in Canada?
Canadians rejoice! Using Bitcoin and select cryptocurrencies for online sports betting is completely legal all across Canada—except Ontario (sorry!). After Canada passed Bill C-218 in August 2021, single-game sports betting became legal at a federal level, allowing each province and territory to oversee and implement provincial rules and regulations. As federal legislation didn’t prohibit cryptocurrencies for sports betting, many provinces green-lit Bitcoin sports betting sites.
However, Ontario hasn’t jumped on the bandwagon. Although Ontario is the only province that currently allows the operation of private sportsbooks, it still does not allow the use of Bitcoin or any other cryptocurrencies for sports betting in accordance with the Alcohol and Gaming Corporation of Ontario and iGaming Ontario.
So, for the rest of our Canadian readers, buckle up for the best Bitcoin sports betting sites in the biz! Remember to review your provincial rules and regulations, and please play responsibly.
Top Bitcoin Betting Sites in Canada
Unlike popular payment methods, like e-Transfer, Visa and Mastercard, and Vanilla Prepaid cards, which are available across most online bookmakers, Bitcoin sports betting sites are few and far between. But thankfully, some of our top Canadian sportsbooks made the list!
Parimatch Canada
Kicking off our list of Bitcoin betting sites, we have Parimatch Canada which has a reputation as the top sports betting platform to favour alternative payment methods. New to the sports betting scene and don’t know what we mean? Well, Parimatch doesn’t accept credit cards. Yep, you read that right—no credit cards! So, say hello to e-wallets and cryptocurrencies!
For this online sportsbook, Bitcoin deposits couldn’t be easier—enjoy simple, near-instant Bitcoin transactions at Parimatch. If you’re new to using Bitcoin, Parimatch Canada makes transactions pain-free with easy-to-follow prompts and instructions (don’t worry, we’ll get into the nitty-gritty of Bitcoin transactions below).
| Deposit | Withdrawal | |
|---|---|---|
| Minimum | 0.00029 BTC | CAD 20 |
| Maximum | None | CAD 30,000 |
| Transaction Time | Insant | 3-5 Business Days |
| Fees | None | None |
Parimatch has scores of virtual sports offerings—not to be confused with esports—from prop bets to money lines and everything in between! Bitcoin bettors can enjoy diverse sports betting markets with Parimatch Canada’s standout pre-built parlays and handicap betting options. And if you’re wondering what else you can do with your Bitcoin, live casino games at Parimatch are the perfect way to get your heart racing! New to online gambling? Let us hook you up with a Parimatch welcome bonus.
TonyBet Canada
As far as online sportsbooks that accept Bitcoin, TonyBet is a powerhouse in the space and is known as one of the first online gaming sites to allow bettors to use a range of digital currencies for both deposits and withdrawals with ease. Although there are no fees (yay!), in rare cases, withdrawals can take up to 48 hours (boo!) and deposits may take up to two hours—but usually Bitcoin deposits are instant!
Some sportsbooks—TonyBet Canada included—have daily, weekly, and monthly maximums on transactions, which can confuse some novice bettors; however, as long as you keep track of your deposits and withdrawals, you should be in the clear.
| Deposit | Withdrawal | |
|---|---|---|
| Minimum | $15 | $75 |
| Maximum | $4,000 | $4,000 |
| Transaction Time | Up to 2 hours | Up to 48 hours |
| Fees | None | None |
On top of becoming one of the leading Bitcoin sports betting sites, TonyBet boasts a Canadian Premier League (CPL) partnership, an extensive statistics and analysis section, and a top spot on the leaderboard as one of the best Canadian esports sportsbooks. Plus, TonyBet’s live betting options, competitive odds, and a vast selection of casino games! From niche leagues to major sporting events, TonyBet has it all! If you think this Bitcoin sports betting behemoth is right for you, sign up for TonyBet Canada today to receive an exclusive welcome bonus.
Pinnacle Canada
At Pinnacle Canada, winners are always welcome! So, pro sports bettors—and whoever bagged Bitcoin back in 2013—are definitely welcome! Pinnacle makes using digital currencies as your primary payment method easy-peasy. All you need to do is enter your desired deposit amount, click “Submit,” and scan the QR code through your Bitcoin wallet to confirm your payment. Within 30-60 minutes your Bitcoin deposit should be in your bankroll.
Unfortunately, Pinnacle has withdrawal fees for all payment methods, and withdrawals directed to your cryptocurrency wallet may take additional approval time. Bitcoin deposits should take 30-60 minutes. Since you can already expect low Bitcoin transaction fees through your crypto wallet, Pinnacle’s small withdrawal fees can be a dealbreaker. But thank the Crypto Gods because Pinnacle locks in your exchange rates at the time of your transaction.
| Deposit | Withdrawal | |
|---|---|---|
| Minimum | $15 | $15 |
| Maximum | $50,000 | $50,000 |
| Transaction Time | 30-60 minutes | 30+ minutes |
| Fees | None | $10 |
Pinnacle’s unique features, including Dynamic Lines, which allow bettors to easily track changes in the odds, and Re-bet options that bettors can take advantage of to place an unlimited number of max bets on a specific outcome, make the site stand out amongst other Bitcoin sportsbooks. If you’re eager to explore the world of Bitcoin betting, check out all the top Bitcoin sports betting sites and consider signing up for Pinnacle for superior odds and high betting limits.
How to Choose the Best Bitcoin Betting Site
Since there are a few betting sites that accept Bitcoin, it can be overwhelming to know where to start when selecting the best Bitcoin sportsbook for you. But don’t worry, we’re here to help!
Of course, some folks out there—ourselves included—sign up for a bunch of sportsbooks to secure competitive betting odds. However, if you’re only signing up for one sportsbook, we recommend seeing how your desired sports betting Bitcoin site’s current odds compare to the others on our list. Thankfully, you can view most events, betting markets, and odds without committing to the sportsbook, so you can check out which bookmakers are covering your favourite games and how their current odds compare. Did you catch all that green beans?
When deciding on a new sportsbook, it’s crucial to consider what each betting site offers in terms of:
- Available betting markets
- Sports and leagues
- Sign-up bonuses.
We promise all the sportsbooks on our list have all the top sports and diverse betting options from point spreads to parlays—but could you imagine signing up for a betting site only to find out it doesn’t cover your favourite team?
We wouldn’t play you like that, but did you know you can also play the hottest casino games with Bitcoin? When selecting your preferred betting site, consider which top casino games are available to spice up your online gambling. For a full deep dive into each of these Bitcoin sports betting sites and casinos, check out our sportsbook reviews!
Bitcoin Betting Sites: Bonuses & Rewards with Bitcoin
Looking for the hottest Bitcoin sports betting bonuses? Well, you’re in luck. When you sign up with any Bitcoin sports betting site from our list—using our link, of course—you’ll receive a top-notch welcome bonus! As with other payment methods, there are some terms and conditions to keep in mind when securing your Bitcoin welcome bonus. Obviously, you’ll have to be a new customer to qualify for any welcome bonus (duh), but there may be other factors to consider, including:
- Minimum deposits
- Minimum bets
- Betting on qualifying sports/events
- Using your cash balance before the bonus
- Bonus winnings go into your bonus balance
- Only bonus stakes contribute toward wagering requirements
Not all bonuses are created equally; the best Bitcoin sportsbooks and casinos will offer different bonuses periodically, and some sites will even have unique bonuses when you make deposits using Bitcoin. Remember, there are more special bonuses that sites will release besides those for deposits with Bitcoin; online casino no-deposit bonus promotions are also fairly common! Popular promotions include free bets, re-bets or first-bet insurance, and bonus bets. Consider what type of bettor you are and which welcome bonus would best benefit your betting style.
Here are the welcome bonuses currently available through our top Canadian Bitcoin sportsbooks:
| Sportsbook | Welcome Bonus | Promo Code |
|---|---|---|
| Parimatch | 100% match up to $500 | CANBET |
| TonyBet | 100% match up to $700 | CSBTB |
How to Deposit and Withdraw Using Bitcoin
Bitcoin deposits and withdrawals have never been easier! After signing up with your favourite Bitcoin sports betting site, you’ll need to verify your account and follow simple deposit instructions to fund your bankroll.
Although there is some slight variation across online sportsbooks, you can generally expect to enter your payment details and link your sportsbook account—or confirm your payment—through your Bitcoin wallet. Depending on your crypto wallet and betting site, you can confirm your deposits by either scanning a QR code with your Bitcoin wallet or entering the one-time-use alphanumeric address code into your Bitcoin wallet.
As for Bitcoin withdrawals, sportsbooks will typically require your Bitcoin wallet address and additional verification. Please be careful with these Bitcoin addresses because any mistakes could lead to a permanent loss of funds! Always remember to double-check addresses and amounts because when your Bitcoin’s gone, it’s gone. (Bye!)
For each sports betting site and online casino, Bitcoin withdrawal times and fees can vary—but for the most part, you can expect near-instant Bitcoin transactions and low-to-no fees through your chosen betting site.
Minimum and Maximum Deposits/Withdrawals
Before signing up with any Bitcoin betting site (and securing your Canada Sports Betting welcome bonus), double-check the minimum and maximum transaction limits (above) to ensure your desired sportsbook’s limits fit your betting style. For example, high rollers might prefer Pinnacle Canada for its sky-high Bitcoin transaction limits. (Let’s be honest—you’re gambling with Bitcoin! It’s more than likely you’re used to big numbers!)
Also, consider if your chosen sportsbook has any daily, weekly, or monthly maximums and how these limits affect your overall betting experience. For some, it’s like a reward maxing out withdrawals, but for others, it’s a bother to spread withdrawals over the course of days, but most of us don’t have this issue or luck, sadly.
Are There Any Fees When Using Bitcoin?
Typically, sportsbooks will boast fee-free transactions or opt for small flat withdrawal fees for select payment methods. Thankfully, Canadian bettors using Bitcoin shouldn’t expect any high fees through the betting sites on our list! In case you missed it, you can find a full breakdown of each sites’ fees—or rather lack thereof (thank you, TonyBet!)—and unique features above.
Please keep in mind that certain crypto wallets charge transaction fees, which can fluctuate with Bitcoin prices. We encourage you to review your Bitcoin wallet’s terms of service to determine the average Bitcoin transaction fee and any additional fees. But don’t worry, as these fees are also on the low end.
How Long Do Transfers Take and Does Bitcoin Fluctuate?
What fluctuates more: the price of Bitcoin or the weather in Canada? Although our fellow Canadians can’t control the weather, we can control when we cash out!
Bitcoin prices have fluctuated quite dramatically over the years— nothing is set in stone with single-day drop rates of 39% to a six-day record high of $139,336 (CAD). Like the stock market, Bitcoin prices can fluctuate depending on supply and demand—but there are other factors to consider, including the cost of production (mining), current regulations and public perception, and competing crypto prices.
Typically, Bitcoin transactions are instant but, on the odd occasion, can take up to 12 hours, depending on the sportsbook. Since Bitcoin is a volatile beast, many sportsbooks will lock in your exchange rate at the time of your deposit or withdrawal to ensure your Bitcoin transactions never falter due to an unforeseen price drop. Before you confirm your transaction, we recommend checking the current crypto prices each and every time for the best bang for your Bitcoin.
Advantages of Bitcoin Online Betting
Besides flipping the bird to the banking system, Bitcoin boasts a bounty of benefits bettors can enjoy, from speedy transactions and low fees to global accessibility and privacy.
🕵️ Anonymity and Privacy
Are you looking for another layer of anonymity for your online activities? There are several ways you can purchase Bitcoin without providing your personal information or government-issued ID both online and through physical Bitcoin ATMs. As a result, using Bitcoin for your online transactions is a great way to protect yourself from identity theft.
But a word of caution: all transactions are stored on the Bitcoin blockchain which is a digital public ledger meaning anyone can access to trace any Bitcoin transaction, excluding your personal information. However, there are other secure cryptocurrencies that hide these transaction records for—ahem—reasons, but in terms of personal security, Bitcoin still takes the cake.
🏃 Fast Transactions
As a digital currency, Bitcoin reigns supreme when it comes to online payments thanks to its record-breaking transaction times. (You could almost say it was made for it—ha!) Unlike some other popular payment methods that can take up to 48 hours, Bitcoin boasts near-instant transaction times.
Admittedly, there is the rare chance withdrawals take up to 12 hours, but most transactions take mere minutes! From instant deposits to speedy withdrawals and, best of all, there are no delays to play! Bitcoin supercharges Canadians’ sports betting experience from start to finish!
💰 Low Fees
Is there anything worse than losing your gamble after paying a massive transaction fee? Thankfully, that’s not the case with Bitcoin! Since select sportsbooks prefer dealing with digital currencies, they don’t charge any transaction fees (plus some even offer special bonuses for Bitcoin deposits!). Of course, not all betting sites are on the same playing field; the odd site will charge a low fee on Bitcoin withdrawals (looking at you, Pinnacle Canada).
On the other hand, many crypto wallets will charge additional transaction fees—but don’t worry, as the average Bitcoin transaction fee is quite low compared to other payment methods and bank fees! Spend less on fees and more on your bets (and hopefully make more winnings) thanks to Bitcoin!
🌎 Global Accessibility
As a decentralized global currency, you can use Bitcoin with international sites without worrying about currency conversions or signing up for yet another e-wallet to fund your bankroll. Do with this information what you will—ahem, and know using Bitcoin can broaden your betting horizons.
So ditch complicated exchange rates and currency conversions and keep your eye on the prize (AKA Bitcoin prices and the sharpest odds). With this said, please review local laws and regulations to ensure all your Bitcoin transactions are legit.
Disadvantages of Bitcoin Online Betting
It wouldn’t be a true CSB review if we didn’t cover the dive into the downsides—so, without further ado, let’s break down the disadvantages Bitcoin bettors should consider before taking the plunge
📈 Price Volatility
Some argue Bitcoin’s price volatility is one of its main selling points (literally), but what goes up must come down. And when your winnings are on the line, dealing with Bitcoin’s price volatility can be nerve-wracking, to say the least, especially when your winnings can dramatically decrease in value without warning. (Then again, you know we love a good gamble because the opposite is also true!) Some sportsbooks will lock in your Bitcoin exchange rate at the time of your transaction, but once your winnings are in your Bitcoin wallet, there’s no turning back the clock.
We always say you should only wager what you’re willing to lose. While it’s unlikely you’ll lose all your winnings through dropping Bitcoin prices, your winnings are still at risk any time they’re in your Bitcoin wallet, which is why many Bitcoin bettors only use this cryptocurrency to exchange funds and quickly transfer them to less volatile holdings.
🤷 Regulatory Uncertainty
Although Bitcoin is a widespread global currency, Bitcoin’s legal status varies by county (and province—cough, cough, Ontario), and more often than not, the rules and regulations surrounding digital currencies are unclear and vague. Plus, there’s always the concern of sudden regulatory changes and potential legal issues that negatively impact your betting experience. So, it’s better to be safe than sorry!
When your honest-to-goodness dollars and sweet, sweet winnings are on the line, it’s best to know before you play! Please do your research, stay up-to-date, follow international Bitcoin rules and regulations, and play responsibly—or rather, pay responsibly!
✋ Lack of Universal Adoption
Welp, you could probably tell by our list that not all betting sites accept Bitcoin (la sigh). Unfortunately, the Canadian market is overwhelmingly undersaturated with Bitcoin online betting platforms. Sports betting is still an evolving market in Canada, so we hope to see more sportsbooks that accept Bitcoin in the coming years. And looking across our borders, there are definitely some more sites—but we’re still left wanting for more.
We might be a bit biased, but since there are so many advantages to betting with Bitcoin, not having all our top sportsbooks to choose from is the biggest downside of all in our books! If Bitcoin is your preferred payment method, you’re limited by which betting sites you can use—but we promise there are some winners on our list!
🕜 Irreversibility of Transactions
Remember how we said there’s no turning back the clock? Well, that’s the case with all Bitcoin transactions—once it’s sent, it’s sent. Meaning if you enter the wrong address or amount when sending money through your Bitcoin wallet, you could permanently lose real money.
Since Bitcoin is a cryptocurrency, you can consider it as digital cash. An IRL example of entering the incorrect Bitcoin address would be sending an envelope with the wrong mailing address filled with cash through snail mail. The irreversible nature of Bitcoin transactions is one of the biggest risks of using Bitcoin (besides potential plummets in price), which is why you can never be too careful when sending funds.
Bitcoin Sports Betting: What You Need to Know
- Starting with the basics, each Bitcoin transaction uses a unique address only the sender and receiver have access to, ensuring your transactions are secure. From two-factor authentication to Bitcoin’s encrypted blockchain, Bitcoin has your back with super solid security measures. Plus, you’ll need to be a verified user to use Bitcoin.
- The Bitcoin blockchain has never been hacked. Yes, siree this sh*t is secure! Bitcoin has a very close-knit community that constantly monitors the blockchain, and with over 18,000 active servers, the threat of a hack is extremely unlikely, which can’t be said for all the other sites we frequent. Just remember, this blockchain records all your Bitcoin transactions for the trained eye to see.
- Segueing into tips for sports betting with Bitcoin—whether you’re using Bitcoin or any other payment method, setting a monthly budget is the cornerstone of responsible sports betting. And for digital currencies prone to price fluctuation, sticking to your self-limits is essential to prevent overspending and maintain healthy gambling habits. Each site has responsible gambling resources and options to set limits and self-exclude.
- Most pro sports bettors use a “unit” betting system, with each unit representing a fixed percentage of their bankroll. For example, if you have $1,000 in total, then a unit would be $10. Of course, when people hear Bitcoin, they think of big numbers, but you can set any budget, bankroll, or bet you like, no matter how big or small your bank account is. But don’t forget Bitcoin prices are subject to change (how could you forget with the number of times we’ve mentioned it!).
Bitcoin Sports Betting: Legal Considerations
Rest assured, all our books are by the books! Bitcoin sports betting is safe and legal in Canada; just please follow local gambling laws and stick to legally regulated betting sites like TonyBet, Pinnacle, and Parimatch Canada.
As we mentioned, laws surrounding Bitcoin are often unclear—paired with the intricacies of legal sports betting, Bitcoin can be a complicated beast to tame, let alone understand. But here in Canada, Bitcoin was approved at a provincial level across the country (excluding Ontario) for single-game sports betting.
However, the Canadian government nor any Canadian bank controls Bitcoin, which gives bettors a bit of leeway. Picture this: your bank account has blocked your credit cards to prevent you from your usual sports betting shenanigans. Want to know what’s not blocked? Your Bitcoin transactions!
Final Thoughts: Navigating the World of Bitcoin Betting
For your online sports betting ventures, why not use the payment method built for the online world? We’ve covered everything you need to know to start betting with Bitcoin, from its record-breaking transaction speeds and security to the pitfalls of using a volatile cryptocurrency with no takesies-backsies. Although there are only a few online casinos and sports betting platforms that accept Bitcoin, the few legal Bitcoin sportsbooks we have in Canada are some of the best betting sites in the country!
Consider which Bitcoin betting site would be best for you, and sign up using one of our links to start betting with Bitcoin today! Please play responsibly, and always double-check the rules and regulations, your Bitcoin addresses and amounts, and back here with us for the best sportsbook reviews and sports betting insights.
Bitcoin Betting Sites FAQs
Yes, you can bet with Bitcoin! Across Canada there are a few sportsbooks that accept Bitcoin to choose from; check out our full article for more information about these sites, how to bet with Bitcoin, and more!
Review our list of top Bitcoin sports betting sites, sign up with your desired gambling site, and link your account via your Bitcoin wallet. Follow the odds or test your luck on the slots—and cash out with Bitcoin!
Yes! You can use Bitcoin to play your favourite casino games, from slots to poker, at TonyBet, Pinnacle, and Parimatch Canada’s online casinos.
Yes! Betting online with Bitcoin is legal across Canada, excluding Ontario. After Bill C-218 was passed, most provinces created regulations allowing players to gamble with Bitcoin and other digital currencies.
TonyBet Canada, Pinnacle Canada, and Parimatch Canada all have standout online casinos that accept Bitcoin.
