Best Crypto & Bitcoin Bookmakers in Canada

Top-Rated Crypto Bookmakers Reviews

Now it’s time to have a look at each of the Canada cryptocurrency bookmakers reviews ranked in the table above.

Overview Of The Best Crypto Bookmakers in Canada

Everything You Need to Know About Playing Odds

Although it is highly beneficial to know as much as you can about sports markets, it is only part of the puzzle.

You can forget about long-term profitability if you don’t understand playing odds.

All the research in the world can’t make up for choosing poor value odds relatively often.

When making plays, you have to realize that cryptocurrency bookmakers have an edge on every market ranging from 3% to 30% or more.

However, no bookmaker gets it right all the time, so your mission is to find odds that represent better than fair value.

Value Playing

Value playing experts forensically examine each market to discover that elusive edge.

For instance, suppose you believe that Man United’s percentage chance of beating Arsenal is 30%.

Suppose the odds of a United win are 2.50 on most BTC bookmakers. Should you make a play?

Absolutely not! According to the bookmaker, United has a 40% chance (100/2.50) of winning.

When researching any event, your goal is to discover enough information to ascertain how likely an outcome is.

Once you finish the investigation, the reward is a ‘betting tissue,’ a tool that places you in the role of a bookmaker.

In simple terms, a betting tissue enables you to develop your own odds for any event.

However, don’t even think about making one until you know more about the different types of sports playing odds.

Unfortunately, few people can correctly calculate playing odds, so we’ve created a quick guide featuring the three most popular types.

American odds

In the United States, cryptocurrency bookies that offer American odds have a minus or plus sign before a number.

Use the sign to determine if the potential profit in crypto is bigger or smaller than the size of your play.

The minus sign (-) denotes a short odds play, meaning the overall profit is lower than what you risk.

If the sign is plus (+), it means a longer odds play where the profit is greater than the amount you play.

Keep reading for some American odds examples outlining the potential returns and profit according to play size.

• +110: A $100 play means a possible payout of $210, and a profit of $110

• +150: A $100 play means a potential win of $250, for a $150 profit

• +300: playing $100 means you could win $400 and enjoy a $300 profit

• -110: playing $100 results in a $190.91, and a $90.91 profit

• -150: A $100 play means you would win $166.67 and earn a profit of $66.67

• -300: If you play $100 at these odds, your return is $133.33 if you win, meaning a profit of $33.33

Decimal odds

European players are more familiar with decimal odds, which is the easiest format to calculate and understand.

To calculate your possible returns, multiply the size of your play in Bitcoin by the odds.

Suppose you want to play on England to defeat Sweden and receive odds of 1.6; multiply your $200 stake by the 1.6 odds for a return of 320.

An English victory means you enjoy a $120 profit as 320 – 200 = 120.

By dividing the odds into 100, you can quickly determine the percentage likelihood of a selection winning.

Using the above example, England has a 62.5% chance of winning according to the Canada Bitcoin bookie, since 100/1.6 = 62.5.

Fractional odds

Generally speaking, fractional odds are popular in the United Kingdom and Ireland.

You’ll know this type of betting odds by the famous slash that appears between two numbers.

For example, if you play on an outcome at odds of 6/1, you receive $7 back for every $1 you risk.

Therefore, if you play $10 worth of Bitcoin at odds of 6/1, you would win $70 if successful, for a profit of $60.

The number on the left-hand side outlines how much profit you’ll earn should you play a sum of money equivalent to the number on the right.

For instance, if the New Orleans Saints are 14/5 to beat the Los Angeles Rams, you will make a profit of $14 for every $5 you play if successful.

Calculating your total return is as easy as adding how much Bitcoin you staked to your profit.

If you dislike fractional odds or have a preferred odds format, most Canada cryptocurrency bookies allow you to change them.

Are Crypto Bookmakers Legal in Canada?

Overall, Canadian residents are free to register with crypto bookies, but there are some considerations.

For the most part, the rules surrounding cryptos are transparent, but this isn’t the case with bookmaker company use.

Thankfully for Canadians who enjoy bookmakers, the government has made a major move in the industry’s favor.

Can Canadians legally use Cryptos?

Yes, Canadian residents are free to use cryptos and the exchanges that allow their sale and purchase.

Bitcoin is not legal tender in Canada, but you can still use it to buy goods and services.

As the Canada Revenue Agency (CRA) classifies digital currencies as commodities, the profit you make from them is treated the same as if it came from a business.

This rule goes back almost a decade, and cryptos transactions are subject to the nation’s tax laws.

Also, exchanges that trade cryptos must register with FinTRAC, the government agency in Canada that handles financial crimes.

Like its southern neighbor, Canada sees digital asset exchanges as money services businesses, so they must obey anti-money-laundering regulations.

Consequently, such companies have to comply with a wide variety of laws, including maintaining detailed records.

This is possibly beneficial for Canadians looking to invest in cryptocurrency on registered exchanges.

Is Bookmaker use legal in Canada?

In general, Canadians are permitted to register with a bookmaker and deposit money.

However, the legality of playing on sports markets in Canada wasn’t made clear until relatively recently.

There was a strange loophole in the law that forbade single-game plays.

According to this bizarre rule, Canadian residents could not use any single market within an individual game, although parlays were legal.

The Canadian government moved to change the situation, and in June 2021, it passed C-218.

It is a piece of legislation that officially legalizes single-game sports markets.

However, each province in Canada can decide when to use C-218, although it seems certain they will all comply.

Finally, residents of Canada can register with a BTC bookie and use every sports market available.

Analyzing the Best Sports Playing Choices

There’s no question that cryptocurrency sports playing has experienced a surge in popularity.

Many bookmakers now offer you the chance to play with crypto on dozens of sports, not to mention esports too.

Furthermore, there are an extraordinary number of markets to choose from.

However, before you register with any crypto bookie and risk money, it is essential to understand the logic behind each play.

Sensible bettors realize they need to educate themselves on the available sports betting markets.

This detailed guide discusses numerous popular markets and illustrates how you can win.

By the end, you’ll hopefully know what markets you prefer to play on and increase your likelihood of success.

The Moneyline

This is perhaps the easiest and most commonly used cryptocurrency sports playing market.

All you have to do is select the team/player you think will win the match.

For example, you can pick the Boston Celtics to beat the Los Angeles Lakers in the NBA.

As simple as the Moneyline market is, not every sport offers the same options, as we describe below.

Soccer

In soccer, the Moneyline offers three choices: Home win, away win, or the draw.

Draws happen in top-level soccer in 25% to 30% of games, making it a viable option usually available at decent odds.

Soccer also has the following variations on the Moneyline:

• Draw no Bet: If your selection draws, you get your cryptocurrency back, and you win if the team wins.

• Double Chance: You win if your selection avoids losing. However, you win the same amount whether the team wins or draws.

Baseball/Basketball/American Football

In several North American sports, games that finish level are decided in overtime.

This is the situation in American football, baseball, and basketball.

Although American football games sometimes end in a ‘tie,’ you’re unlikely to find this market on many Bitcoin bookmaker websites.

Therefore, your play carries into overtime and wins if your team is victorious.

Even so, make sure the Canada crypto bookmaker website specifies that overtime is included in your original play.

Tennis

It is impossible for a draw to be the outcome in certain sports.

For example, the game only ends with one player winning a pre-determined number of sets in tennis.

Consequently, the tennis Moneyline is one of the simplest crypto sports playing markets you can use.

Overall winner

In virtually every sport, each match is part of a bigger tournament.

As the name implies, the outright winner market lets you pick who you think will emerge as the ultimate champion.

It represents an opportunity to win a substantial amount of crypto as most selections are available at relatively long odds.

Some Canada BTC bookies let you mitigate your risk by letting you back your choice each-way.

With this market, you can win Bitcoin if your team/player gets to the semi-final at least or loses the final.

Over/Under

This well-known market revolves around the total number of scores in a game.

Your mission is to determine whether the event will have more or fewer scores than the ‘line’ set by the Bitcoin bookie website.

If you believe a particular event will have a significantly higher or lower amount of scores, you can pick one of the alternative lines on offer.

There are different scoring methods depending on the sport, and this affects the over/under line.

For instance, BTC bookmakers in Canada might put the line on a Liverpool vs. Manchester United game at over/under 2.5 goals.

You would make a play on over 2.5 goals if you think the game will have 3+ goals and under 2.5 if you feel it will have 2 or fewer goals.

However, if you believe the game will be quite open, you could look for an over 3.5 goal market and win if there are 4+ goals.

The beauty of this play is that it doesn’t matter which team/player wins, as your only concern is the level of scoring in the event.

Who will score next?

This is one of the easiest playing markets to understand and is ideal for beginners.

All you have to do is make a play on whichever team or player you think will get the game’s next score.

For instance, you might fancy Liverpool to score the next goal against Manchester United.

Some sports are relatively low-scoring, so you might have to wait for the play to get settled.

Did you know that approximately 7% of high-level European soccer games have zero goals in matches despite the teams playing for over 90 minutes?

As a result, if you want the chance to place lots of quickly settled plays, look at sports such as tennis and basketball.

The majority of Bitcoin bookies permit players to play on a basketball game’s next basket or a tennis game’s next point.

You know whether your play has won or lost seconds after placing it in many cases.

Spread betting

It is rare for a sporting contest to be evenly matched on paper, which bookmakers know only too well.

In this instance, the odds on the favorite are often too short to warrant a play.

Fortunately, it is possible to choose handicap playing, an innovative way to make apparent mismatches more interesting.

Cryptocurrency bookies place the favorite at a disadvantage, and your goal is to conclude whether it can win with a handicap or not.

Suppose the Milwaukee Bucks are favored to beat the Chicago Bulls; a bookmaker might start them off with a -10.5 handicap.

The above handicap means that the Bucks have to win by a minimum of 11 points should you choose to bet on them.

If you think the Bulls are being underestimated, you can play cryptocurrency on them with the +10.5 handicap and win if the Bucks win by 10 or fewer points.

Asian handicap

Originating in Asia, this is an intriguing cryptocurrency sports playing market.

While it is more complex than the typical handicap market, it tends to provide better value bets.

Indeed, the Asian handicap market is often the weapon of choice for professional gamblers.

Here’s a quick overview of what each Asian handicap market means, using a game between Manchester City and Everton as an example:

• Man City (0): If City wins, your bet is successful. If they lose, your bet is unsuccessful, and if the game ends in a draw, your stake is refunded.

• Man City (-0.25): In the event of a draw, the site returns half your crypto. Otherwise, you win if City wins and lose if they lose.

• Man City (-0.5): This is the same as a double chance for Everton, meaning you only win if City triumphs.

• Man City (-0.75): If City fails to win, you lose the play. A victory by two or more goals for City means a full win, while a single goal victory is half a win. Suppose you would earn a profit of $20 for a City 2+ goal win. In this case, you net a $10 profit for a one-goal win.

• Man City (-1): You lose the bet if City doesn’t win the game and get your stake refunded if they win by one goal. You need a 2+ goal City win to earn a profit.

The Bitcoin bookie website’s Asian handicap markets also allow you to bet on Everton if you believe they will have a good day.

Let’s say you think Everton has a very good chance. You can back the Toffees on the Asian Handicap at 0 and get your money back if they draw.

Bettors operating from a strict bankroll should consider these markets because there’s a security blanket of sorts in the form of returned stakes.

The Asian handicap market shows that playing isn’t necessarily a zero-sum ‘must-win or lose’ pastime.

Half/Quarter Markets

You have additional playing options in the form of half/quarter/period markets because most sports have breaks in play.

Imagine that you discover how successful a particular team is in the second half of games.

You can wait for the first half to conclude and analyze the action if you have the opportunity.

Now, you can play on the team of your choice winning at this stage if the odds are right.

It is worth performing additional research to see if any particular team/player shows strengths or weaknesses at certain periods of matches.

Player props

Although sports such as soccer and basketball involve a team functioning as a unit, you can make plays on individual performance.

It is the ideal market if you know that a certain player is in the form of their life and want to earn crypto during this hot streak.

Please note that the relevant sport dictates whether the market will involve baskets, goals, or points.

Team props

In potential mismatches, it is always worth focusing on the performance of a specific team.

A major plus point of this market is that the overall result doesn’t necessarily dictate whether your play wins.

A team can perform relatively well, help you win Bitcoin but still lose the match.

Overall score

Some BTC bookmakers allow you to avail of the correct score market in specific sports.

Winning involves accurately predicting the event’s final score.

Tennis is one of the easier sports to predict since there are only a limited number of potential scorelines.

For example, in a best of three sets match, the only choices are 2-0, 0-2, 2-1, and 1-2.

In contrast, predicting the correct score in soccer is difficult because of the vast number of possible results.

If you don’t conduct plenty of research, any wins you achieve are solely down to luck.

On the plus, cryptocurrency bookies tend to provide decent odds for the correct score market, so any win is a worthwhile one.

Live Playing

Those who watch a live sporting event often find that there are opportunities to make a profit.

The number of playing in-running markets offered by crypto bookmaker is incredible, though you need to act fast!

Suppose you feel that a team will play well but aren’t 100% sure; witnessing a game in-play gives you enough information to decide whether to make a play.

Sometimes, all you need is to watch a few minutes of a game to get a feel for how it is likely to pan out.

In addition, there are in-play markets that offer improved odds the longer the game goes on, depending on the state of play.

Ante-post Playing

Ante-post playing revolves around sports events set to take place at least 24 hours later.

In reality, Canada crypto bookie websites offer markets for sports events that don’t even begin for several months!

Experts in this form of playing aim to get long odds on an outcome in the belief that the price will drop before the event.

Of course, there is always the risk of getting it wrong, and the odds of your selection get even longer.

Moreover, before making an ante-post play with any Canada cryptocurrency bookmaker website, analyze its terms and conditions.

There’s a possibility that your play isn’t void should your selection pull out of the event.

Imagine you confidently back clay court king, Rafael Nadal, to once again win the French Open.

However, Nadal gets injured before the event and can’t play.

In this unfortunate circumstance, some Bitcoin bookmakers will hold onto your Bitcoin even though you had no chance to win.

An ante-post play means you stake crypto on the winner of an event before it begins.

Should You Use Bitcoin on Bookmakers?

January 2009 was a historic month when Satoshi Nakamoto introduced a digital currency called Bitcoin.

Crypto remains the most prominent digital asset, accounting for approximately 50% of the market.

The hype surrounding cryptocurrency is immense and has caused its value to skyrocket at different points.

A significant number of bookmakers are happy to accept Bitcoins due to its popularity.

You might find that using BTC on bookmakers has the following pros and cons.

Pros of using Bitcoin on Bookmakers

• BTC’s popularity means a significant number of bookmakers give bonuses for using it as a payment method

• The capacity for BTC to increase in value means even a tiny win now could yield a massive reward later

• Punters enjoy anonymity, so no one will know you’re playing on these bookmakers

Cons of Playing with Bitcoin

• The heavy transaction fees associated with cryptos eat into your money before you begin playing

• The downside of decentralization is that you have no chance to appeal if a dodgy bookmaker robs you

• Cryptoasset can fall even faster than it rises, so the value of a big win could drop disappointingly