Bitcoin Casino Canada – Regulations and Top Brands

Canada is a country with a rare blend of urban modernity and natural beauty. From glass and steel high-rise buildings of Toronto to frozen tundra of Nunavut, Canada is the world’s second-largest economy, and they sure have a lot to show for it. This sense of pride is also applicable to their powerful gaming industry, and also to the gambling regulations that are established to keep the industry functional. In most cases, the laws with regards to maintaining public welfare at all times. Thus, most gambling activities are outlawed in the country. And online gambling also falls within a grey area. The government of Canada does not prevent online betting, it has to be licensed or owned by the state. This has led to more than 1000 Canadian players betting with offshore websites. Despite that, digital currencies are legal in the country including major cryptos like Bitcoin, yet they are not considered as an instrument for the purchase of goods and services or a legal tender.

Gambling with Bitcoin is legal in Canada because there federal government or banks do not control digital currencies, although there is no such thing as a legal Canadian Bitcoin casino because casinos are state-run. In Canada, cryptos are taxed as income tax or capital gains, depending on where your crypto activity is classified as a business or not, you might be liable to taxes. Businesses are income taxable 100% and with capital gains 50%. However, the CRA (Canada Revenue Agency) can only tax traceable income.

There is no such thing as a legal Canadian Bitcoin casino because online or physical casinos in Canada are state-run. Thus Bitcoin gambling in Canada is mostly done offshore, as most players conduct their gambling activities offshore, given that all local casinos are licensed and owned by local governments.

A Quick View of The Best Canadian Bitcoin Casinos

Before we move forward in the article, let’s take a look at what the top BTC casinos in Canada offer their users. If you find the basic features that we’ve outline for any of them, feel free to click the “Start Playing” button to register in a few seconds. But if you need more information before you commit, simply press “Read More” to go to a fully-fledged review of the brand.

BitStarz

BitStarz Review – Is This Casino Good?

Deposit Bonus

100%

Sports Betting

No

Free Spins

150

Games

9/10

Vip Club

Yes

Unique Feature

Giveaways

mBit

mBit Casino Review – Top BTC Casino

Deposit Bonus

110%

Sports Betting

No

Free Spins

300

Games

9/10

Vip Club

Yes

Unique Feature

mBit races

Rabona

Rabona Review – A Nicely Polished Casino

Deposit Bonus

100%

Sports Betting

Yes

Free Spins

Yes

Games

8/10

Vip Club

Yes

Unique Feature

Card Collection

PlayAmo

PlayAmo Review – A Perfect Global Crypto Casino

Deposit Bonus

100%

Sports Betting

No

Free Spins

200

Games

4/10

Vip Club

Yes

Unique Feature

PlayAmo App

CloudBet

CloudBet Review – The Best of The Best?

Deposit Bonus

100%

Sports Betting

Yes

Free Spins

No

Games

9/10

Vip Club

No

Unique Feature

60+ Markets in-play

FortuneJack

FortuneJack Review – A Pioneering BTC Casino

Deposit Bonus

110%

Sports Betting

Yes

Free Spins

300

Games

9/10

Vip Club

Yes

Unique Feature

FortuneJack Coin

7bit

7Bit Casino Review – Things to See and Games to Play

Deposit Bonus

100%

Sports Betting

No

Free Spins

100

Games

8/10

Vip Club

Yes

Unique Feature

Welcome Race

TrueFlip

TrueFlip Review – Classy Dolphin Casino

Deposit Bonus

150%

Sports Betting

No

Free Spins

50

Games

9/10

Vip Club

No

Unique Feature

TrueFlip Token, TrueLab Games

Betchain

Betchain Casino Review – A Casino With The Most Partners

Deposit Bonus

100%

Sports Betting

No

Free Spins

200+

Games

9/10

Vip Club

Yes

Unique Feature

4 Back-to-Back Bonuses

Bitcasino.io

Bitcasino.io Review – Licensed and Reliable BTC Casino

Deposit Bonus

100%

Sports Betting

Yes

Free Spins

100

Games

6/10

Vip Club

Yes

Unique Feature

5 Coins

Black Chip Poker

Black Chip Poker Review – A Top Rated Poker Room

Deposit Bonus

100%

Sports Betting

Yes

Free Spins

No

Games

4/10

Vip Club

No

Unique Feature

11 Bonuses

Unique Casino

Unique Casino Review – Is It Really That Different?

Deposit Bonus

100%

Sports Betting

No

Free Spins

20+

Games

9/10

Vip Club

Yes

Unique Feature

Bonus on every deposit

King Billy

King Billy Casino Review – Awards Galore

Deposit Bonus

100%

Sports Betting

No

Free Spins

200

Games

7/10

Vip Club

Yes

Unique Feature

Multilingual Platform

Intertops

Intertops Review – Is This BTC Poker Room for You?

Deposit Bonus

200%

Sports Betting

Yes

Free Spins

25

Games

6/10

Vip Club

No

Unique Feature

Free Software

Americas Cardroom

Americas Cardroom Review – Best Poker Room for the US Players?

Deposit Bonus

100%

Sports Betting

Yes

Free Spins

No

Games

7/10

Vip Club

Yes

Unique Feature

Sit & Crush Bonus

Stake

Stake Review – 40+ Sports to Bet On

Deposit Bonus

No

Sports Betting

Yes

Free Spins

No

Games

8/10

Vip Club

Yes

Unique Feature

Weekly Jackpot

Bitcoincasino.us

Bitcoincasino.us Review – A Place Designed for Americans

Deposit Bonus

100%

Sports Betting

Yes

Free Spins

75

Games

2/10

Vip Club

No

Unique Feature

3 Welcome Bonuses

ThunderPick

ThunderPick Review – Competitive eSports and Sports Odds

Deposit Bonus

100%

Sports Betting

Yes

Free Spins

No

Games

6/10

Vip Club

Yes

Unique Feature

Gift Card Giveaways

YaPoker

YaPoker Review – Paradise for Latino Americans

Deposit Bonus

100%

Sports Betting

Yes

Free Spins

No

Games

6/10

Vip Club

No

Unique Feature

Multilingual Support

Avalon78

Avalon78 Casino Review – Level Up in this Casino!

Deposit Bonus

100%

Sports Betting

No

Free Spins

190

Games

3/10

Vip Club

Yes

Unique Feature

The Big Bet Battle

GGBET

GGBet Review – A Sportsbook That is Worth Betting With

Deposit Bonus

120%

Sports Betting

Yes

Free Spins

No

Games

6/10

Vip Club

No

Unique Feature

eSports

Bspin.io

Bspin.io Review – A Fully Bitcoin Powered Casino

Deposit Bonus

100%

Sports Betting

No

Free Spins

60

Games

2/10

Vip Club

No

Unique Feature

Bitcoin Value Weekly Cashback 

CasinoFair

CasinoFair Review – A Blockchain-Friendly Platform

Deposit Bonus

200%

Sports Betting

No

Free Spins

No

Games

1/10

Vip Club

No

Unique Feature

FunFair games, FUN token

22BET

22Bet Review – A Place for BTC Bettors

Deposit Bonus

100%

Sports Betting

Yes

Free Spins

No

Games

10/10

Vip Club

No

Unique Feature

Multiple Payment Options

Sportsbet.io

Sportsbet Review – BTC Sportsbook Welcoming Americans

Deposit Bonus

No

Sports Betting

Yes

Free Spins

No

Games

6/10

Vip Club

Yes

Unique Feature

Fantasy Sports

KingBit

KingBit Casino Review – A Fully Crypto-Powered Casino

Deposit Bonus

110%

Sports Betting

Yes

Free Spins

No

Games

3/10

Vip Club

Yes

Unique Feature

Virtual Sports

CryptoThrills

CryptoThrills Casino Review – A Small But Worthy BTC Casino

Deposit Bonus

255%

Sports Betting

No

Free Spins

112

Games

1/10

Vip Club

No

Unique Feature

Daily Deal Bonus

Betcoin.ag

Betcoin Casino Review – A Casino and Sportsbook in One

Deposit Bonus

100%

Sports Betting

Yes

Free Spins

10

Games

1/10

Vip Club

Yes

Unique Feature

Sportsbook

Betonline.ag

Betonline.ag – BTC Casino for USA Players

Deposit Bonus

Yes

Sports Betting

Yes

Free Spins

No

Games

6/10

Vip Club

Yes

Unique Feature

Fast Deposits

TeleVega

TeleVega Casino Review – A Self-Proclaimed People’s Casino

Deposit Bonus

100%

Sports Betting

No

Free Spins

250

Games

6/10

Vip Club

Yes

Unique Feature

VIP Program

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Crypto Regulations in Canada

Canadian Bitcoin casinoAll digital currencies are permitted in Canada including cryptos like Bitcoin, although they are not considered legal tender in the country. The rules provided by Canada’s Income Tax Act applies to cryptos transactions as well. According to the CRA, cryptos are considered as property, and that when they are used for the purchase of goods and services, it should be considered as a barter transaction.

The laws in Canada allow the use of Bitcoin, and According to the webpage of the Government of Canada, cryptocurrencies can be used for the purchase of goods and services online on websites that accepts cryptocurrencies. This is to say that crypto casinos for Canadians are possible online on offshore casino sites. Players might also purchase cryptos on open exchanges or crypto exchanges, although they are not considered legal tender. And according to Canada’s national law, no casinos based in Canada are allowed to offer Fiat currency betting services to Canadian residents. But they are free to register with offshore fiat or crypto online casinos. This is a common framework in all Common Wealth countries.

Is Bitcoin Casino Gambling in Canada Worth It? (Pros & Cons)

Online Bitcoin casino in Canada is gradually becoming a popular concept given the nature of the commodity in the country. Including no third party tracking of payments made in cryptos such as Bitcoin. In this regard, Bitcoin gambling offers a high degree of anonymity than fiat gambling. Neither the state nor banks can track the transactions of players. Some advantages of gambling with cryptos include free commission, privacy, fast withdrawal time, and high transaction speed.

Pros

Fiat Crypto
Transaction Speed 24-48 Hours Instant
Commission 1.4% 0%
Withdrawal Time 3-4 business days Instant
Privacy Not Protected Protected

Transaction SpeedBTC casino Canada

One advantage about Bitcoin gambling that you should be aware of or that most crypto players are already aware of is the transaction speed. The best Canadian Bitcoin casinos process transactions in an instant. In fact, it takes an average of 15 minutes at times for crypto casino transactions to be completed. However, with larger cryptocurrencies like Bitcoin, the average transaction speed is between 0 to 1 hour. On the contrary, fiat casinos take about one to two days for transactions to be completed, as such many players are more interested in digital currency gambling in order to avoid the long wait times with fiat casinos.

Commission

crypto cassinos for CanadiansAlso, with Bitcoin casinos, players enjoy commission-free transactions. All Canadian cryptocurrency casinos or casinos that accept Canadian residents process transactions without commission. This advantage is not only unique to Bitcoin casinos in Canada but to all Bitcoin casinos. But with the case of fiat casinos, players are required to pay a 1 to 4% commission on transactions and this makes Bitcoin casinos more favorable with regards to cost. This is the reason why there is a growing need by the Canadian gambling population for Bitcoin casinos, especially that there are only state-run casinos available in the country.

Withdrawal TimeCanadian cryptocurrency casinos

Besides, transaction speed, no commission, and privacy, there is also the benefit of withdrawal time. Usually, withdrawals with fiat casinos often take long, on average, they take between five to seven business days, which is a long time to wait for a withdrawal to be completed. But with BTC casino Canada, players do not have to worry about withdrawal time because it is done instantly, or in some cases, depending on the weight of the transaction, they could take a maximum of two business days. If you use Bitcoin, deposits will be instantaneous as well. Many Bitcoin casinos in Canada have gained a lot of new users who are tired of the slow processes with fiat.

Privacy

Canada Bitcoin casinosThere is no gambler out there that does not appreciate the anonymity feature that Bitcoin gambling offers. First, your Bitcoin wallet does not require identification documents or any requirement binding to identity. This is online the services provided by banks or any third party service for the storage of funds that require individuals to present identification documents, also, most Bitcoin casinos will not ask for any documents for you to deposit, what matters to them is withdrawal. This is to say that Bitcoin casinos do not play with an individual’s personal information.

Cons

Fiat Crypto
Tax 0% 0-20%
Exchange Not Required Required
Risk Low High
Variety of Casinos High Low

TaxCanadian bitcoin casinos

The tax laws of Canada apply to the transactions of digital currency, and cryptocurrencies are classified by the CRA as a commodity but using it to purchase goods and services is liable to income tax. Also, the use of digital currency for the purchase of goods and services is considered under Canadian law as a barter transaction. Nevertheless, the Canadian authorities can’t tax income that is untraceable. Yet the tax rules of Canada apply to cryptos, and where applicable, crypto users are required to pay taxes on their crypto assets.

Exchange

online bitcoin casino in CanadaWith Bitcoin exchanges, players can convert Bitcoin for units of fiat currencies at various exchange rates. Most Bitcoin exchanges are always subject to commission and they ensure that the market stays liquid in order to set their value like fiat. But the thing with exchanging Bitcoin and playing with Canada Bitcoin casinos is that the prices of the crypto fluctuate very fast and could fall drastically, leading to loss of funds. Also, just the process of going for an exchange is tedious as it is because, with fiat, they would be no need for exchange and regular currencies are a little bit more stable in exchange rate than with Bitcoins.

 

Riskbest Canadian bitcoin casinos

Of course, there is always a disadvantage to any hot spot. And online Bitcoin casinos are not left out, there are some disadvantages worth considering when considering Bitcoin casinos in Canada. The first one is clear, the digital currency markets are very unstable, meaning that by value, the prices fluctuate a lot. It is so volatile to the point that winning a bitcoin jackpot could be better than your expectations if the currency was moving positively against the dollar or the euro.

Variety of Casinos

top BTC casinos in Canada

Cryptocurrencies are new to the casino industry, already dominated by fiat. And for this reason, they are fewer varieties of Bitcoin casinos for players to choose from. Also, besides Bitcoin casinos being a new thing, many players do not have a Bitcoin wallet yet and although the process to register an account is not tedious, it is a process, and will no be the case with regular fiat casinos. This makes betting not as simple. However, there are still many Bitcoin casinos out of Canada that residents can register with. The wide variety of fiat casinos offers fiat gamblers the opportunity to choose from the. Best, but with Bitcoin casinos, players only bet with those that are available, this makes falling in the hands of the wrong casino inevitable.

Can You Get a Bonus With  Canadian Crypto Casinos?

Canadians can access some of the best Bitcoin casino bonuses online, with players enjoying betting through blockchain. Canadian Bitcoin casinos offer players a wide range of promotions that can help them start betting smoothly. In every case, there are many bonuses that you can come across which will assist you to develop your bankroll and help you get a foothold. There are some great bonus offers that apply not only to newbie players but to those who are loyal players to the casino. Bonuses range from huge Bitcoin bonuses to great weekly promotions. Some of these bonuses include welcome bonuses, no deposit bonuses, deposit bonuses, and free spins.

Deposit Bonus

bitcoin casino credit card deposit Canada

Online casinos are known for offering their users huge bonuses. This is something that makes them different from offline casinos. There are two types of bonuses that casinos offer, those that require you to make deposits and those that don’t. Deposit bonuses include reloads, cash-backs, and match deposit bonuses. Deposit bonuses are very common with Bitcoin casinos. Players can use Bitcoin casino credit card deposit Canada, to make their deposits using credit cards among other methods of depositing funds in their Bitcoin accounts. To do this, players need to register an account and make a minimum deposit, and the amount that a player needs to deposit will depend on the particular casino offering the bonus. Payment methods can affect deposit bonuses, and at times players need to use a code to claim the bonus.

No Deposit Bonus

Bitcoin casino CA

A lot of casino players are always on the lookout for no deposit bonuses and are always excited about it. With this bonus, you get a free gaming experience. In most cases, you will be required to register with the casino in order to get access to the bonus. When the registration is complete, ad the casino verifies your account, the bonus will automatically be added to your account. Similar to this are some bonuses that require you to use a bonus code or show that you are interested in the bonus. There are many different options that you can come across with regards to the no deposit bonus. And you are free to choose whichever one suits you best. No deposit bonuses are not without requirements. Thus to be eligible for such bonuses, it has advisable to go through all the requirements.

Free Spins Bonustop BTC casinos in Canada

Among the most popular bonus offers by top BTC casinos in Canada are free spins. If a free spin is part of a no deposit bonus, it is usually few, and you might not have put down any money for it yet and could be considered as no deposit bonuses at this point. Free spins are usually applicable mostly to slot games.

All in All

With the popularity of blockchain, some major drawbacks in gambling activities have been resolved, making the experience quite enjoyable for crypto players. Bitcoin casinos CA have many advantages over fiat casinos, although they have their own shortcomings. But some of these benefits are due to the fact that cryptos are under-regulated and this might change as time goes by. In Canada, although residents can only legally bet with state-run casinos, they are free to search online for Bitcoin casinos that accept Canadian residents.

Pros Cons
Fast Transactions Tax
Withdrawal Time Tedious Exchange
Privacy High Risk
Play From Anywhere Low Variety of Platforms

Gambling on its own has a whole lot of risk attached to it that people don’t realize until it is too late. A lot of individuals lose their livelihood gambling, we advise staying responsible while you gamble.

FAQ on Bitcoin Gambling in Canada

What are the regulations for Canadian Bitcoin casinos?

Operating a Bitcoin casino from Canada is illegal. However, an offshore casino accepting Canadian gamblers is permitted. In most cases, Canadian casino owners move to places like Malta, Curacao, or Gibraltar, apply for a license there, and start targeting Canadian clients.

If a casino tells you that it has a license from a Canadian regulator then it’s definitely lying to you. There is no such thing as a local gambling license for an online casino, especially an online crypto casino. The only exception would be a government-owned website, but that’s unlikely to feature cryptocurrencies.

Are Bitcoin casinos better than regular online casinos for Canadian players?

Yes. There are 2 reasons why Bitcoin casinos are better than regular ones in Canada. The first is transaction speed, and the second is anonymity.

The average withdrawal time from a regular casino is around 24 hours, while the average withdrawal time for BTC (the slowest crypto these days) is 12.74 minutes. Furthermore, the transaction fees for cryptos are usually covered by the casino. If they’re not, they’re still minuscule compared to regular casinos. The only time a transaction fee is high for BTC is when the user themselves wants a faster withdrawal. It’s sort of like buying a ticket to cut in line.

In terms of anonymity, Bitcoin casinos have an innate advantage. No government officials or agencies will have access to your private transaction history. This helps gamblers avoid issues with their banks. If the bank sees that you gamble, even by a little bit, they may be more reluctant to approve you for a loan or a mortgage.

Sure, there’s also the issue of taxation on cryptocurrencies in Canada. But as long as the player does not withdraw their winnings to their bank account, it is very unlikely for the tax agency to even know you own crypto. If they could find out regardless, well then crypto gambling wouldn’t be as advantageous as it is now.

How do I get Bitcoins in Canada?

You can buy Bitcoins on a locally-approved cryptocurrency exchange as well as with a BTC ATM. The first process looks something like this:

  • Step 1 – Registration

In order to register on a crypto exchange, you will have to provide some documents to identify yourself. Once that’s passed, the exchange will give you a hot wallet. Basically like an account for your cryptos that is constantly connected to the internet. You can opt for a cold wallet which is the opposite version pretty much.

  • Step 2 – Deposit

Once you have your account, you can simply deposit CAD from your bank account, or if the exchange supports it, from any e-wallet such as PayPal, Skrill and others. This usually has a large commission so be aware that you won’t get exactly the amount you deposit.

The second process has only one step that is different.

  • Step 1 – Registration

You will still have to register on a crypto exchange to get a wallet or opt for a cold wallet.

  • Step 2 – Depositing in the ATM

Once you’ve found a BTC ATM near you, you can buy BTC with cash. Note that the ATM has a commission of around 5-10% on average. All you’ll have to do is indicate the BTC address you’d like to buy Bitcoins for. The address will always have 25-35 characters and look something like this: 3J98t1WpEZ73CNmQviecrnyiWrnqRhWNLy.

Once you’ve inserted the cash in the ATM and press accept, you should get a notification from your wallet about confirming the transaction. This usually requires scanning a QR code or indicating the address you’re receiving the BTC from (the ATM will show you this address).