Cryptocurrency is a booming sector. A third of Canadians who own crypto have done so for less than a year and those that do are looking for more than something that is just going to sit there with the occasional rise and fall.
That is where the birth of crypto for the best betting sites in Canada has come in. Many online odds suppliers have been quick to spot the opportunity to attract a slightly different clientele. Bettors looking for a crypto casino to add some fun to playing games have an ever-expanding range of new casinos where they can spend their time.
Almost every new games supplier will make crypto betting available. There will be some people who are against ever holding crypto but the younger generations adapt easier to changes and have adopted crypto casinos quickly.
62% of Canadians have said that they would be open to being paid in crypto in the future which gives plenty of hope that the expansion is going to continue for some time yet. While Canada as a whole has been a touch slower to pick up on crypto, the trust is now building and it is a fast-growing sector.
As we mentioned, many Canadians who hold crypto are in their first year of doing so. It is still a new thing for many so it has taken time to take off. Now that it has, many Canadian bettors are looking for ways to use their newfound love of crypto along with their betting.
How did gambling with crypto come about? What advantages are there if you want to join in and where can you do it? All these questions and more will be answered so keep on reading to learn all you need about crypto gambling.
It will be a surprise to many but the first instance of crypto gambling happening was back in 2011. That is more remarkable given that the infamous 10,000 Bitcoin for two large pizzas deal was only in May 2010. It is a clear indicator of just how quickly crypto has grown and that coming in such a short space of time.
By 2013 the likes of Satoshi Dice and Just Dice were starting to gain a large portion of the crypto gambling market. The following year saw the launch of the first Bitcoin casino and the business has been booming ever since.
In that same year (2014) Crypto-Games was born. Their significance is that they were the first to allow betting in other cryptocurrencies. Before that, it had been Bitcoin only. Opening the floor to new currencies helped the explosion of crypto in the public perception and the creation of a plethora of new currencies to buy and trade in.
Almost a decade later, crypto gambling and in particular crypto casinos are doing huge trade in Canada. As the demand for further options grows so does the volume of new casinos where you can enjoy a safe and fun betting experience.
Curacao has been the island to see most crypto casinos registered. Some of the biggest groups do business on the Caribbean shores, offering their products to the Canadian market. Enjoying a compound annual growth rate of more than 11%, there are figures that believe the overall gambling market will rise above 100 billion US dollars per year by 2026.
A huge part of that is down to the rise of the crypto casino. The ease and anonymity of them has made them especially popular throughout the middle east, accounting for a large chunk of that annual growth.
When money changing hands is involved, it is never a surprise that new ways are developed constantly nor that they grow at remarkable rates. The Crypto casino has already come a long way from where it started in a very short space of time. It is going to be exciting to see where they plan on going next as there really is no limit when it comes to what is possible.
The big one is Bitcoin. By far the largest cryptocurrency out there and the one that even those who know nothing about crypto have heard of. 2009 saw its first use and while the value has ebbed and flowed, the general trend has been upward with projections varying for the future as to how high it could go.
Ethereum was launched in July 2015. Second, only to Bitcoin, its growth has been just as spectacular. The popularity comes from the fact it is not only a cryptocurrency but also a blockchain platform which makes it a programmer’s dream.
Third in market cap size is Tether. This is a more stable coin with fewer of the big fluctuations you find with the likes of Bitcoin. As the name hints at, the coin is tied to the US dollar, tracking its value. It became the most traded coin in 2019, taking that crown from Bitcoin.
An altcoin developed against Bitcoin, Litecoin is one of the oldest currencies. It boasts a solid enough following and value but it lacks the wow factor that some give to the bigger coins. It does have more everyday use though which can make it easier to use for gambling.
We have a brief overview of seven of the top crypto casinos to play in Canada below. You can find a full review for each of them on our site so if you want to know more about a particular casino, it is as easy as clicking on their name in the text. This is not an exhaustive list by any means but is a look at some of the casinos that you are able to gamble at with crypto.
When it comes to a crypto casino, there are very few who offer the amount of deposit types that GreatWin does. There are usual suspects such as Bitcoin, Ethereum and also Litecoin but they also allow deposits via Tether and Dogecoin as well.
The last named has become rather famous in recent times due to Elon Musk. 2021 showed the volatile nature of anything which is influenced by celebrity. A massive rise followed by a huge fall was no help for crypto in the battle against those who do not understand it.
Only established in 2021, Neon54 has already made quite a splash in the casino sphere. They accept payments via Bitcoin, Ethereum and Litecoin at the moment with lots of games to choose from once you have made a crypto deposit.
One of the key differences is there are five different deposit bonus offers that they have. Being able to pick which one a new bettor wants to take advantage of is a nice touch and is sure to make this a popular crypto casino for many who like to play games.
Deposits with Bitcoin, Ethereum and Litecoin are the order of the day with Casombie. The zombie theme of the site means that they have quickly gained a niche following of horror fans within the gambling community.
It is a visual element that certainly helps them to stand out amongst their peers. Established in 2021, they are a relatively new arrival to the casino market so it is no surprise that they were an adopter of crypto gambling as soon as they were created.
Zet Casino offers a wide range of crypto coins that you can use to deposit with them. Bitcoin, Tether, Litecoin and Ethereum are all accepted at Zet Casino. Established in 2018, they have a slightly longer history than a couple of others on the list which has given them plenty of time to build up a large audience.
They also boast a four-tier VIP programme which offers slightly different benefits to a bettor as you go up through the levels. Mutually beneficial, it encourages those using the site to stick around and get well treated for doing so.
2021 saw the creation of the OhMySpins casino. In terms of crypto payments, they accept the usual with Bitcoin, Litecoin and Ethereum all appearing on the deposit list. In the same way that a slick-looking label on a bottle of wine sells, their name has been a clever construct to create a smile and bring them a large business share in a short space of time.
Another casino to only ‘open its doors’ so to speak in 2021, Litecoin, Bitcoin and Ethereum are all available to be used for deposits and withdrawals at Lucky Elektra. The vibe is Japanese-style cartoon superheroes which will not be for everyone but for the generations who most commonly use crypto, it is a visual treat that is going to be well received.
All of the usual payment methods are available at FEZBet, the likes of Bitcoin, Litecoin and Ethereum are all there for bettors to use. They came to the party in 2020 and have quickly built up quite a reputation amongst crypto casino users.
There is a serious volume of games to be had here with 5000 on the books. It is a provider who has something for everyone, it is almost impossible for them not to have!
Betting with crypto is not going to be for everyone. Luckily for them, there are many online casinos where bettors can deposit and bet in all of the traditional ways. For those who are either already betting with crypto or are looking to do so in the future, there are many options as we have detailed above.
There are both positives and negatives from crypto betting but that is true for almost anything. The beauty of a decentralised coin is that it is private and offers complete confidentiality. Transactions are instantaneous and there are no worries about a bank account being frozen or extra questions asked as the payments never touch a bank.
Banking transactions with crypto are not allowed in Canada but you are allowed to hold them and trade them which is where gambling in crypto at an online casino comes in.
The volatile nature of crypto does mean that the value of what a holder possesses is very fluid in terms of value. That is an extra thing to think about if you are looking to find a crypto casino to bet with. The physical value of your balance can go up and down even without placing a bet.
Overall, crypto betting holds strong claims to be the future of gambling. Cash is no longer king with online betting taking over worldwide. The chance of ordinary online betting being surpassed quickly by crypto looks like a good bet sooner rather than later.