Canada has been a sought-after market for gambling, thanks to its relaxed approach towards citizens joining offshore brands. In 2022, though, the narrative changed. Ontario, one of the most important provinces, set up new restrictive gambling regulations which impacted a great number of gamblers.
However, crypto gambling sites are still accessible from any province in Canada and have become the primary weapon of locals against subpar websites and invasive KYC processes. With second-to-none security and speed, Canadian players retain the ability to gamble anonymously and safely without worrying about any future changes in regulation.
With a low level of competition between locally-licensed sites, Bonuses are often disheartening. On the other hand, crypto brands offer rewards for new players that cannot be matched by their traditional counterparts. That’s why we collected the best crypto bonuses you can find that reach up to a 300% boost. Take a look at our up-to-date list below and filter between the bonus type to grab the one that fits your gambling style best.
The new gambling regulation has left Canadians nothing but frustrated. Rather than having a national framework, each province is responsible for setting the rules, meaning that a lot of citizens get impacted in a different way.
Up until 2022, Kahnawàke, a self-governing territory of the native Mahawk Nation within Canadian borders, was the only authority to issue gambling licenses in the country. Following suit, Ontario, with a new policy in regard to online gambling, effectively changed the status quo, which stirred some controversy between the two authorities. This led to confusion for both brands and players, as many sites had to cease operations or completely revamp their products.
Luckily, joining offshore brands is not restricted and one type of operator particularly stands out. A Bitcoin casino accessible from Canada can give players the opportunity to gamble anonymously since the often relaxed KYC policies paired with the security of cryptocurrencies provide a much-needed solution from the intrusive eyes of banks and the government.
A significant upgrade even from convenient established methods such as Interac or Astropay. Below you can see some of the latest trending brands in Canada and choose one based on your needs.
Trending Brands in Canada
No of Cryptogambling Sites
5
Top Site
Anonymous gambling sites
4
Most Secure
Provably fair casinos
2
Most Games
Instant Withdrawal Sites
5
Fastest Payout
Stablecoin gambling sites
5
Most Networks
Now that we have cleared some of the basics of Canadian regulation, a case is evident. Gambling with cryptocurrencies is and will continue to be a favourable option for residents of Canada. Although you might be tempted to join the first one that pops up, you don’t want to end up with a bad crop.
Therefore, we recommend keeping the next facts in mind and setting some priorities on what you should expect from a proper crypto casino. In the following paragraphs, you will learn all you need to know to make the best choice possible for your needs.
Pro Tips
1
Following the same path as many other countries, the legal age for gambling in Canada is 18 and 19, depending on the province.
2
Some crypto-friendly sites feature third-party payment options that allow you to buy crypto with FIAT. These come with extra fees, so bear that in mind and prefer direct crypto transactions to avoid hidden costs.
3
Since sizing your bets with crypto can be confusing, several crypto casinos allow you to convert or display your balance into CAD. Pick them if you want a more traditional online gambling experience.
4
If privacy is your number one concern while gambling, choose VPN-friendly sites that also include multiple anonymity coins like Monero, Zcash or Dash in their banking section.
Bitcoin Casino in Canada
Gambling in the crypto world is unlike any other traditional alternative that you were used to. Thousands of slots with no cooldown spins, live tables and game shows with high betting limits, and the ability to sign up only with a valid email address are only few of the perks you are in for.
If that’s something you want to try, take a look at the following trusted crypto casinos that accept players from Canada. If you want to get the maximum, you can also filter them based on the bonus amount offered and even see the cryptocurrencies and features that are present.
You are better off not going for the first gambling site that comes your way. A proper read of our brand reviews and guides can save you from making subpar choices with operators that can put your funds in trouble. In addition, we curated some points you should keep in mind when gauging a new site, so you can find the best one for your playstyle.
Game Library
Fancy bonuses and layouts might be attractive and play a part in your selection of a crypto casino, but the priority should be the game library. When choosing a site, take a good look at the games and providers that are available. Avoid brands that don’t come with the games you want and don’t keep up with new releases. After all, you want to have some casino fun and not settle for less.
Provably Fair Games
Blockchain technology doesn’t stop at cryptocurrencies. A new feature available only on gambling sites with crypto is provably fair casino games. Imagine all your favourite games being completely transparent. Knowing that every single hand or spin is not manipulated in any way by the provider.
Well, that’s what provably fair games are. They allow you to check the validity of the result using blockchain in an easy and fast way. Some of our recommended brands include provably fair versions of all classic and latest casino games so you have full confidence that the casino is legit.
Bonus Availability
A common practice among crypto-friendly brands is offering a large crypto bonus that seems too good to be true. Often, such bonuses can only be claimed with Bitcoin and be sure the wagering requirements are just as high, making them unattainable.
For that reason, in your quest for new crypto casinos, always remember to inspect the bonus terms and conditions prior to registering. Check if the coin you have chosen can trigger the bonus, if the wagering requirements are fair and whether your most-played games are included. If all of these are in place, you can get a lot of value out of your first deposit.
Legit Crypto Sports Betting Sites
With the tight regulation and below-average local bookmakers, we know our Canadian readers are thirsty for some proper betting. Thankfully, crypto sports betting sites save the day as they come with higher odds and hundreds of markets, even in minor leagues. And to spice things up, frequent promotions and Free Bets are sure to give your bankroll some edge.
No need to go on an extensive search for a sportsbook now, though. Below, we compiled a list of the top brands you can bet on, along with their features and bonus amount, so you waste no time.
Ditch the traditional betting sites that focus on major leagues and are short of markets. New crypto sportsbooks include hundreds of markets you can bet on in leagues such as the National Hockey League, the Canadian Premiere League and the NLL. In case exquisite sports are more of your taste, Golf and Curling markets will add more diversity to your betting.
Odds & Features
Free from the constraints and costs of payment systems, bitcoin betting sites can offer higher odds even in smaller leagues. You might not find intricate betting features since most are casino-oriented, but Full Cash Out and Livestream should be the minimum expectance.
The time has come. You found a bitcoin casino you want to sign up to, and you are ready to deposit. What is the process? Which coin should you use? Are there any tricks you should know of? All these are questions, and more will be answered next. Let’s start with the coins.
Best Coins for Crypto Gambling in Canada
Cryptocurrencies are gaining more traction in Canada, with 13% of the population holding crypto assets or funds, according to an official survey from the Ontario Securities Commission. And as this number is expected to grow in the following years, so will the number of coins you can use for your gambling action. So which coin should you use?
Bitcoin
Bitcoin is the first one that comes to mind. And rightfully so, as it is the one that started it all, even for crypto gambling. In Canada, it is the most-held coin and the pillar of every crypto banking section. Although its speed isn’t compared with some of the other options we will discuss, you can use it for your gambling if you prefer a robust, future-proof coin. But Bitcoin is not the only one.
Ethereum
Altcoins such as Ethereum bring almost-instant transactions, allowing you to top up your account in no time. Ethereum is the second most popular coin in the market and suitable enough for high-rollers as its high fees make it unreachable for regular bankrolls. If you fall into this category, there’s nothing to worry about.
BNB & Solana
Delving deeper into altcoins, BNB and Solana are two of the nation’s most-held coins and for a good reason. They combine the pseudonymity of Bitcoin with the blazing speed of Ethereum but reduce transaction fees to almost zero. If you just want to get your feet wet with crypto gambling and not rip your balance in fees, these two are a solid foundation.
Anonymity Coins
Last but not least, for players that want to escape the prying eyes of the state and keep their anonymity, cryptos like Monero and Zcash don’t leave transactional trails allowing for under-the-radar gambling. Moreover, they can play a key role in taxes, which we will explain in detail later. They were first introduced by USA crypto gambling sites to combat state-wide restrictions and they have changed the iGaming industry ever since.
How to deposit on a Crypto Casino in Canada
If everything’s correct, by now, you have probably found a crypto casino that’s suitable for Canada and picked a coin for your gambling needs. The next steps include acquiring a crypto bankroll through an exchange, transferring it to a private wallet and finally, into the site. We shall waste no time and dive straight into the step-by-step process.
Get Some Coins
Get Some Coins
To acquire a crypto bankroll, you have to start an account on an exchange where you will buy coins with FIAT money. The quest for the best crypto exchange, specifically in Canada, can be endless, but we will stick to the top alternatives.
Binance, Coinbase and Kraken have a long track record in the industry and are solid for that purpose. Once you have signed up, you can deposit from your account into the exchange. Then, head over to the trade section and buy your coin of choice. Done.
Move Them To A Private Wallet
Move Them To A Private Wallet
Now that you have some coins to gamble with, the next step is to get them to a private wallet. While you will be tempted to deposit them straight from the exchange, this is a critical mistake that you must avoid at all costs. Exchanges often block transactions, and accounts, linked to gambling sites and you definitely don’t want to get your precious funds frozen. That’s why a private wallet is needed.
Many will debate on what’s the best crypto wallet for gambling and what type you should use. A hot wallet, like Trustwallet, Metamask and Exodus, will be enough for normal bankrolls. In some cases, where large sums have to be moved, a cold wallet such as Ledger or Trezor will add an extra layer of security for the transfers between exchange, casino and vice versa.
Complete The Deposit
Complete The Deposit
After you transfer the coins into your wallet, head over to the deposit section of the site you chose, select the coin you bought your bankroll into and paste the address in your wallet’s send function. That’s it. You topped up your account successfully. Just remember to use the correct network that the operator will mention in the deposit to avoid missed funds.
Even though this sounds like a bit of work, with the transaction speeds of cryptocurrencies, the whole process shouldn’t take longer than your normal online transactions.
It is good to mention of few basic pieces of info before we dive into crypto-specific details*. The crypto regulation in Canada is an ever changing subject as it’s trying to stay close to the events of the market and the technology. Cryptocurrencies are treated as assets rather than real currency, and although it is not the ideal scenario, it still makes them perfectly legal. Very convenient in our case because it brings some peace of mind, plus we can use them to have some casino fun.
Before we jump into how crypto gambling and taxes work in Canada, we should briefly mention that gambling winnings are not taxable, as long as you are not a professional gambler. So you get to keep all your profits. Does the same apply to our case? The short answer is no, but our solution allows you to bypass that problem, so read on.
Cryptocurrencies are taxed either with Capital Gains or Income Tax. CGT, is applicable to only half of your crypto gains and can reach up to 33% for profits over $221,708. On the other hand, Income Tax is harsher since it taxes the entire amount. In both scenarios, Provincial Tax is added on top to make things worse.
Although all possible transactions involving cryptocurrencies are stated clearly in the regulation, winnings from gambling that occurred with crypto are not one of them. This makes it debatable on what tax should be applied to them. One thing is for sure, though. Hodling your coins is tax-free. That’s one part of the regulation you can take advantage of. Instead of exchanging your profits, keeping them in your wallet will alleviate some of the tax-related stress. The next solution is more radical.
Going Under The Radar
Most cryptocurrencies are not completely anonymous. In fact, they are pseudonymous. Your name might not be tied with the coins, but after extensive investigation, they can eventually get tracked back to you. And it’s worse for centralized exchanges since all transactions over $10,000 are reported directly to the CRA. It’s not all doom and gloom, though.
Anonymity coins, such as Monero and Zcash, seal your identity, making every transaction impossible to track by design. What’s best is that plenty of crypto casinos accept them for payments. Together with a no-KYC operator, you will be able to gamble completely anonymously and keep your profits whole.
*Remember, this is meant to be a general overview of the current fiscal situation. Contact a tax professional for your financial inquiries, as errors may lead to significant losses & potential fines. We are not financial advisors.
Canada is only at the beginning of regulating the local gambling scene. The recent changes in Ontario’s regulation might prove to be the trojan horse for enforcing more strict measures in the future. Something that will strip away more options from players and create even more tension for the once-liberating market.
Leveraging the power of cryptocurrencies, you can gain your freedom back and access dozens of sites that hold relaxed KYC processes, feature the top casino providers and games, have the most sizzling sports leagues to bet on and stay ahead of any regulatory pushbacks in the future. Check our curated lists, find a legit crypto casino in Canada, and take your gambling to a whole new level.
FAQs
Yes. Although the regulation is either outdated or nonexistent in most provinces, Canadian residents are allowed to join offshore gambling sites using crypto for their activity. For an in-depth view of the current regulatory standpoint around cryptos and gambling in Canada, check our article above.
The first step towards crypto gambling is acquiring your cryptocurrency of choice for gambling through an exchange or a third-party aggregator. Then transfer the amount to a private crypto wallet before, finally, depositing it into your preferred crypto casino.
Absolutely. While you might not find any licensed in Canada, most legit crypto casinos will hold an offshore license, with Curacao being the most common. Don’t neglect proper due diligence, though. Read our detailed brand reviews and DYOR before signing up for a cryptocurrency casino.
Canadian gamblers don’t have to pay any tax on their winnings, but with cryptocurrencies involved, the situation changes. Depending on the type of transaction, Income or Capital Gains Tax has to be paid for crypto transactions. We’d recommend keeping profits in a private wallet, which is not a taxable event or consulting a local tax expert.
It depends on the type of bankroll you hold for your game. For most recreational players, a hot wallet like Trustwallet for mobile, or Metamask, for browser will be more than enough. High rollers might want to consider a Trezor or Ledger, as the increased security of a cold wallet provides more peace of mind for large sums of money.
The short answer is no. All Canadian-licensed exchanges will allow you to buy and sell your cryptos just the same. The differences between each one lie in fee structures, additional services they offer and credibility. Three of the best crypto exchanges in Canada are Binance, Kraken and Coinbase.