Best Crypto-Friendly Betting Brands in Canada in 2024 – Philadelphia Sports Nation

The Canadian sports betting scene is undergoing a significant transformation, with the integration of cryptocurrencies like Bitcoin, Ethereum, and Litecoin into betting platforms.

This move not only caters to the tech-savvy generation but also enhances the security and efficiency of online transactions.

In 2024, the popularity of crypto-friendly betting brands is at an all-time high, reflecting the broader acceptance of digital currencies in everyday transactions.

Current Trends in Sports Betting

The sports betting landscape in Canada is rich and varied, with a strong affinity for both domestic and international sports leagues. Hockey, being the national sport, sees a significant amount of betting action, particularly in the NHL. Other popular leagues include the Canadian Football League (CFL), Major League Baseball (MLB), and the National Basketball Association (NBA), which also attract a considerable number of bets.

The recent surge in eSports and fantasy sports betting has further diversified the Canadian betting market, making it one of the most dynamic in the world.

Betting Websites Should be Regulated

The importance of regulation in the iGaming sector cannot be overstated. Regulatory bodies ensure that betting websites operate fairly, protect user data, and promote responsible gambling. In Canada, two major organizations oversee the operation of betting platforms:

• Kahnawake Gaming Commission

  • Website: http://www.gamingcommission.ca/
  • Role: This commission is one of the oldest and most respected regulatory bodies in the online gambling industry. It grants licenses to online casinos and sportsbooks, ensuring they comply with strict operational standards.
  • Significance: The Kahnawake Gaming Commission is known for its comprehensive regulatory framework, which includes player protection, fair gaming, and responsible operator conduct.

• Ontario iGaming

  • Website: https://igamingontario.ca/en
  • Role: As the regulator for Ontario’s internet gaming market, this body ensures a safe and competitive online gambling environment. It focuses on consumer protection, game integrity, and preventing fraudulent activities.
  • Significance: Ontario iGaming is pivotal in shaping the future of online betting in Ontario, providing a regulated framework that balances industry growth with player safety.

Benefits of Using Crypto and Where to Bet with It?

Cryptocurrency has revolutionized the betting industry, offering distinct advantages over traditional fiat currencies:

• Anonymity: Crypto transactions do not disclose personal information, offering privacy to bettors.
• Security: Blockchain technology ensures a secure and transparent transaction environment.
• Speed: Deposits and withdrawals are often faster with cryptocurrencies, enhancing user convenience.
• Accessibility: Cryptos provide a universal currency option, bypassing the need for currency conversion.

For those looking to bet with cryptocurrency, numerous platforms cater to Canadian bettors. These sites not only accept crypto payments but also offer dedicated bonuses and promotions for crypto users.

Fbet – a Locally Licensed Crypto-friendly Bookmaker

FBet, now known as Batery, represents a fresh and dynamic entry into the Canadian betting market. Despite its recent launch in mid-2023, Fbet has quickly adapted to the preferences of Canadian bettors, offering an extensive range of sports and betting markets.

• License: Fbet is licensed by the Curacao Gaming Authority and the Kahnawà:ke Gaming Commission, ensuring a regulated and safe betting environment.
• Sports Selection: With over 35 sports disciplines, Fbet caters to a wide array of betting preferences, emphasizing popular Canadian sports like hockey, football, and basketball.
• Market Depth: For example, an NHL game could offer over 600 betting options, including main markets and niche bets, showcasing the platform’s comprehensive coverage.
• Payment Options: Fbet supports a variety of payment methods, including local favorites like Interac and Instadebit, and, importantly, allows for cryptocurrency transactions, making it a go-to choice for crypto bettors.

How to Create an Fbet Account? 

The account creation process at Fbet is straightforward:

1. Start by providing your email and choosing a password.
2. Verify your email through a 4-digit code sent to your inbox.
3. Completing your profile unlocks additional payment methods, enhancing your betting experience.

Fbet Welcome Offer for Newcomers 

New players at Fbet are greeted with a generous welcome package:

• Deposit Bonus: 100% match up to C$300.
• Free Bet: An additional C$5 free bet, irrespective of the deposit amount.
• Activation Requirements: A minimum deposit of C$30 is required, with the bonus selected from the dedicated section.

1win – a Well Known Crypto Betting Operator 

1win has carved out a significant presence in the international betting market since its inception in 2016. With a strategic pivot towards the Canadian market, sports betting 1win in Canada aims to cater specifically to the preferences of Canadian bettors.

• License: Operating under a Curacao Gaming license, 1win is in the process of enhancing its platform to better serve the Canadian audience.
• Sports Offering: The platform boasts over 35 sports disciplines, with a particular focus on improving its football and hockey betting markets.
• Crypto-Friendly: 1win supports various cryptocurrencies for deposits and withdrawals, highlighting its commitment to embracing digital currencies.

How to Create an Account at 1win

Registering with 1win is designed to be a seamless experience:

• Choose between using your phone/email or social media profiles for registration.
• Provide the necessary details, and your account is ready to use.
• The “one-click” option offers an even faster way to get started.

1win Welcome Offer for Newcomers

1win welcomes new players with an attractive bonus structure:

• Cumulative Bonus: Up to 500% spread across the first four deposits.
• Flexible Betting: The bonuses can be used on a wide range of betting markets, with reasonable odds requirements.

Mostbet – More than 10 Years of Experience

Established in 2009, Mostbet brings over a decade of experience to the betting industry. Operating in more than 90 countries, including Canada, Mostbet is known for its reliable platform and diverse betting options.

• License: While it currently holds a Curacao license, Mostbet enjoys a solid reputation among bettors for its fair practices and reliable service.
• Sports Coverage: The platform covers an extensive range of sports, ensuring that bettors have access to a wide variety of markets and betting options.
• Payment Flexibility: Mostbet supports traditional payment methods like Interac, as well as several cryptocurrencies, offering flexibility to its users.

How to Create an Account at Mostbet?

Mostbet offers multiple registration methods to suit every bettor’s preference:

• “One-Click” registration for immediate access.
• Traditional registration using email or phone.
• Social network options for a quick sign-up process.

Mostbet Welcome Offer for Newcomers

Newcomers to Mostbet are eligible for a welcoming bonus:

• Welcome Bonus: A 125% bonus on the first deposit, with a cap of C$1,000.
• Activation: Ensure to select the “sports bonus” option upon registration and meet the minimum deposit requirement.

Cryptocurrencies Have Their Own Risks

While the integration of cryptocurrencies into the betting landscape in Canada offers numerous advantages, such as enhanced privacy, speed, and security, it’s crucial to acknowledge the inherent risks associated with digital currencies. One of the primary concerns is the high volatility of cryptocurrencies, which can lead to significant fluctuations in value in a short period. This volatility can affect the actual amount of funds available for betting or withdrawing, potentially leading to losses unrelated to betting activities.

Moreover, the irreversible nature of cryptocurrency transactions adds another layer of risk. Unlike traditional banking transactions, once a crypto transaction is executed, it cannot be reversed or canceled. This feature, while reducing the potential for fraud, also means that errors in transaction addresses or amounts can result in the permanent loss of funds.

Another significant risk is the security of digital wallets and exchanges. While blockchain technology itself is secure, the platforms used to store and trade cryptocurrencies can be vulnerable to hacking and other cyber threats. Many bettors have experienced the loss of their digital assets due to security breaches in their chosen platforms.

To mitigate these risks, here are some practical tips for bettors:

1. Diversification: Avoid keeping all your funds in a single cryptocurrency. Diversifying your digital assets can help mitigate the impact of volatility on your overall portfolio.
2. Secure Storage: Use reputable and secure wallets for storing your cryptocurrencies. Consider using hardware wallets for the highest security, especially for significant amounts.
3. Double-Check Transactions: Always double-check the addresses and amounts before executing any crypto transaction. Once a transaction is confirmed on the blockchain, it cannot be reversed.
4. Stay Informed: Keep up-to-date with the latest security practices and updates in the crypto world. Being informed can help you avoid common pitfalls and scams.
5. Use Regulated Platforms: When choosing a betting site, opt for platforms that are regulated and have a strong reputation for security and fair play. This can provide an additional layer of protection for your bets and your funds.
6. Risk Management: Only bet what you can afford to lose and be aware of the added risk that crypto volatility brings to your betting funds. Consider setting limits on your deposits and wagers to maintain control over your betting activities.

In conclusion, while cryptocurrencies offer a revolutionary approach to online betting, they come with their unique set of challenges. By understanding these risks and taking proactive measures to mitigate them, bettors can enjoy the benefits of crypto betting while minimizing potential downsides. As the crypto betting landscape continues to evolve, staying informed and cautious will be key to a secure and enjoyable betting experience.

Bet Responsibly

Engaging in sports betting, especially in the dynamic world of crypto-friendly platforms, can offer an exciting way to engage with your favorite sports. However, it’s essential to approach betting with a mindset focused on responsibility and moderation. Good betting habits are crucial for a sustainable and enjoyable betting experience. These include setting clear limits for your betting activities, never betting more than you can afford to lose, and viewing betting as a form of entertainment rather than a reliable income source.

It’s important to recognize the signs of problem gambling, such as feeling compelled to bet more frequently, chasing losses, or betting beyond your financial means. If you or someone you know is struggling with gambling, it’s vital to seek help. One valuable resource is Gambling Therapy, an online service providing advice and support for anyone affected by gambling. They offer a range of services, including support groups, live chat, and email support, helping individuals navigate through their gambling issues.

Remember, responsible betting is about making informed and conscious decisions. Always research before placing bets, understand the odds, and be aware of the risks involved, especially with the added volatility of cryptocurrencies. Betting should remain a fun and controlled activity without impacting your personal life, financial stability, or mental health negatively.

By fostering good betting habits and knowing where to seek help if needed, you can enjoy the thrill of sports betting while ensuring it remains a positive and responsible pastime.

Photo: Maxim Hopman/Unsplash