The Ultimate Guide to Canadian Betting Sites
What was once mainly a culture centered around betting shops in sketchy parts of English towns, we can now call a truly global pastime. Sports betting has been through a lot in the last few decades, there’s no doubt about it.
Even its most staunch proponents couldn’t imagine the current industry-wide growth rate. With a projected $8 billion in total revenue by 2025, sports betting is now looking to cater to region-specific tastes and diversify itself in order to appeal to as many sports fans as possible.
Despite this growth being nothing short of majestic, the overabundance of different bookies, niches, and everything in between has created a tangible climate of confusion.
All the criteria that were once important have become blurred, rendering both experts and players unable to discern between what’s right and what’s not.
Our guide to betting sites aims to tackle this problem in particular.
With a holistic approach, we want to point out all the rarely seen intricacies of the sports betting industry. We will explore what makes a good bookmaker, how did we come to this point, as well as other historical and technical aspects of this unique activity.
Even though complexity is inherently a part of taking punts, we want to make things as crisp as possible throughout the guide.
Best Canadian Betting Sites - 2020 Edition
What We Liked
The Ultimate Puzzle: What Makes a Great Betting Site?
If you asked a group of experienced bettors this question, there’s a high chance they would start to list features. Of course, some key aspects will reemerge with every questioned individual, but there will also be specific demands, preferences, and downright irrational requirements. And that’s completely okay.
The customer dictates the market and it’s the bookmakers’ job to adjust accordingly. What may seem like one person’s ideal bookie, is another person’s worst nightmare.
Preferences are, after all, a result of one’s history with betting, favorite sports, regional influence and so on. For any bookie, it’s impossible to be like by everyone.
There is no general consensus on this topic because the best betting sites have mastered all the basics, and are now focused on deepening their relationships with some niche player groups. Initially, we thought about listing all the characteristics of a great bookmaker. It made sense, as this would be a comprehensive list of all the things that are widely considered as good features or ‘good moves’. However, we realized that there would be a lot of sub-features, variables, and whatnot. Every reader would encounter some elements that are ‘useless’ to them.
Thus, we went back to the drawing board and thought about what are the most definite signs of quality betting sites. Such an approach simplified things a thousandfold. This thought process required us to analyze some of the biggest and most beloved brands in the industry, just to see what they have in common. We believe that if a betting site has several of these qualities, there is a high chance that they’re worthy of becoming your next bookie:
A great design
Believe it or not, sports betting isn’t just about what you do, sometimes it’s about what environment you’re in. After all, that’s why more and more punters have made the switch from betting shops to online sportsbooks.
You get to control your immediate surroundings, but it’s the bookie’s design choices that determine the crux of your experience.
If you’re a professional bettor and are used to staring at tables, markets, and spreadsheets for hours, then you need a sportsbook with a pleasant, smooth UI.
In the early 2000s, designs were mostly basic and focused on being as readable as possible.
With the rise of CSS, front end software developers became capable of so much more. The very best bookies allow you to use their site in dark mode, change the layout, and many other customizations.
Since there are more opportunities, less and less betting sites are showing that they’re up for the challenge.
Bonuses and promotions for all purposes
In the early days of online betting sites, offering a bonus was a feature reserved for the biggest brands in the game. It made sense, too, as only they had enough funds to provide their players with a little extra something.
This experimental approach was praised by the community, as punters loved being rewarded for choosing a particular bookie.
Soon after, every bookie started offering some kind of bonus, just to stand out from the competition. Even today, there are sportsbooks that aren’t quite able to grasp the whole approach. Most offer just a single sign-up bonus and that’s it.
The very best sports betting brands have all kinds of limited-time offers, for special events, tournaments, and competitions. Bet boosters and pre-made slips are something that enticed players to partake in promotions and potentially win big.
Betting exchanges and spread betting sites also have bonus variations of their own.
While different players like different things, it’s important for the bonus roster to cover all niches, sports, and events. That’s how you get players to become more engaged.
At the turn of the century, betting sites were slammed by skeptics, calling this innovation ‘nothing but a flash in the pan, a fad that’s about to disappear soon’.
Because of this, many national and international gaming regulatory bodies were slow to pass laws that would keep a watchful eye over online sportsbooks.
There were no licensing requirements and anyone could start a betting site and potentially defraud customers.
Nowadays, organizations and governments have caught up with these trends. You want to see a bookmaker be licensed by a respected regulatory body, such as the Malta Gaming Authority (MGA), the UK Gambling Commission (UKGC), or the Gibraltar Gaming Commissioner (GGC).
If every facet of the sight gets green light from such an organization, then you can rest assured, knowing that you will be safe from any kind of harm.
Quality of Customer Support
All the best sites have 24/7 support channels available to all bettors.
This is also a good indicator of the bookmaker’s ambitions – if they offer around-the-clock live chat, phone, and email support, this means that they have customers from all around the world. An often-underrated aspect of good customer support structures is problem segmentation.
Talking to a person might be the most reassuring way to resolve an issue, but it’s also the slowest approach. The very best sports betting brands have their Help sections divided into sub-sections, such as Deposits, Account Creation, Bugs, Complaints, etc.
Every punter wants independence, and reading up on your problem and resolving it is the ultimate display of this quality. It also boosts your self-confidence, as well as helping you learn the ropes of the game. If you’re a rookie, that is.
Look for fast responses, crisp explanations, and cordial agents.
A wide array of payment options
Payments are the proverbial elephant in the room, even in 2020.
There’s nothing worse than actually liking an online bookmaker and wanting to bet at their site, only to find out that they only accept credit card payments, or have some obscure platforms offered.
More than anything, sports betting should be easy and painless.
A limited number of payment options weren’t even a drawback in the 2000s, mostly because e-wallets weren’t as popular as they are now. Today, bookies have to clean up their act in order to collaborate with PayPal and regionally-focused payment providers.
The amount of deposit options is a great way to see if a bookie is legitimate. Nobody wants to deal with shady sites, which means a lackluster payments section is a deal-breaker for many punters.
Target betting sites that offer platforms that you’re comfortable using.That should be your utmost priority.
Some bookmakers like to stick to the basics. When you click on an event they’re accepting bets on, it’s easy to be disappointed by the usual 1×2 bets and just a few props.
If you’re a pro bettor, you need a bookie that uses an analytical approach to each event.
Basically, the more you can bet on, the better. This means that the site has to have a good odds supplier, with enough options to satisfy everyone. For soccer betting, a sportsbook needs to offer niche bets like corners, fouls, red cards, offsides, first scorer, and so on.
The same goes for other sports – it’s better not to offer something than to cover it badly.
While it’s true that some punters shy away from these niche markets because they don’t know much about them, the presence of props and quirkier markets just adds some pizzaz to the game.
After all, you will have more ways to win, right?
Niche bookies have always existed and, frankly, they should always exist.
Punters focused on particular sports, such as horse racing, soccer, or hockey, will instinctively flock to a bookie that has the best coverage of what they prefer.
However, if you’re not enamored with just one sport, you will want to bet at a site that has is versatile and knows how to approach different preferences.
A great bookmaker doesn’t have to offer intricate props to English 8th division matches, but they do need to have excellent coverage of at least 3 different sports.
This shows professionalism and a wish to cater to as many players as possible.
Not every sportsbook succeeds in doing this, but improvement is also an important factor. A sub-factor, if you will.
Positive player reviews
Let’s face it – online bookmaker reviews are often reactionary and can stem even from a simple understanding. Despite the lack of consistently truthful accounts of various experiences, you should pay attention to patterns that might appear.
For instance, if one person writes a caps lock-infuse comment about being swindled, they might have misread the terms & conditions. But if multiple people bring up the issue in a level-headed manner, then something might be going on.
Take everything with a grain of salt, but don’t hesitate to abandon a bookmaker if they don’t address their players’ issues correctly.
The best way to approach this form of research is to hover around the sections with 3-star and 4-star reviews. Statistically, these players are the most reasonable and are most likely to provide you with a truthful review.
Check to see if any flaw appears consistently and think about whether it’s a deal-breaker or not.
Don’t get us wrong – these eight categories won’t help you determine what’s the best bookmaker. In reality, it’s borderline impossible to even know who’s exactly in the upper echelon of sports betting. What you can accomplish with this list is disqualify a large number of lackluster online sportsbooks. This makes the whole selection process much, much easier.
Despite the points we’ve listed being relatively fundamental, many betting sites still aren’t paying attention to the basics. If a bookie checks more than 3 of these boxes, fully and consistently, then you have a quality bookmaker on your hands.
What Betting Sites Are There Anyway?
Now that we know the main categories that are used for rating and reviewing bookmakers, it’s time for the application of these criteria. Even though most sites are based on the same notion – placing wagers on sports, not all have the same end goal in mind.
This is where knowing the basics can come in real handy, as you have the opportunity to judge a bookie based on the essentials, as well as some extra features you might find interesting. Just to be clear – specialization is a rare occurrence in 2020, so you’ll see most bookmakers branching out and focusing on several betting types, aspects, or niches.
In an effort to appease as many bettors as possible, betting sites mix several niches and often create unique offers. Of course, the area of focus varies from one betting site to another, but you can easily find your way by knowing the following betting types and sub-categories:
As we enter the third decade of the third millennium, punters want to see more action. Pre-match betting, as popular as it is, involves a lot of research, preparation, and analytics-based work.
While the prospect of winning is always enticing, taking punts this way only comes down to anticipation while the event is unfolding. It’s boring! You just have to look, wait, and possibly distract yourself if things aren’t going well. When in-play betting started becoming more popular, all of this change.
Once just a small niche promoted by West European bookies, mainly British ones, live bets have instilled the whole industry with a lot of excitement. You can follow what going on and make bets reflecting on the remainder of the event. Think a comeback is on the way?
Don’t hesitate to place a bet. Lest we forget, in-play betting is also a quick way to make money, as you can place wagers on the last ten minutes of a sporting event.
In recent years, sportsbooks have begun rapidly adopting new, cutting-edge features. Some of these were adopted just for the sake of innovation, while others managed to stick around because of their uncanny usability. One such feature is ‘cash-out’.
Basically, cash-out betting sites allow players to withdraw their winnings before the game is done. For example, if your slip contains a treble with just 1×2 markets, you can cash out as soon as the conditions are met.If all three teams are winning and it’s the 75-80th minute, you can accept a lower amount of money and not risk any late-game braces.
For players who prefer to bet in a secure fashion, cash-out is a feature that’s truly heaven-sent. It’s best applied when you’re focusing on live betting.
When talking about ‘regular’ bookmakers, the player basically plays against the house. The odds are set and you can only win or lose, there is no wiggle room in between these two outcomes. For some time now, this was the only way to approach sports betting, but many players viewed the state as bland and boring.
A solution arrived, in the form of betting exchanges. This type of bookie allows you to go head to head against other players on the site, while a fixed percentage of your winnings always goes to the house.
Bettors can challenge fellow players by wagering money on odds, drawing other players to the market and increasing their potential winnings. If you’re a fan of dynamic environments and you love to see your skills put to the test, this is the approach for you.
Now, “arbing” isn’t a type of bet that’s represented in the way you’re used to. In most cases, bookies adopt niches and turn them into marketing tools. Arbitrage bets are different. Most betting sites discourage or downright forbid their use, pointing out that they’re a form of cheating.
With “arbing”, you get to bet on two outcomes of the same event. This includes choosing two bookmakers and comparing the odds they offer. For instance, you can choose one sportsbook to bet that there will be over 3 goals during the next Manchester Derby, while the other can be used for the under 3 goals bet.
If one bookie offers better odds, you can potentially win more, all while placing the same two wagers. Look for arbitrage-friendly sites, just to be sure that you won’t get into unnecessary trouble if this approach is deemed cheating by a certain bookie.
Out of all the sport betting niches we’ve covered in this section, points betting requires the most accuracy. Why, exactly? Well, with this particular strategy, you’re not betting on a pre-conceived result, per se.
With 1×2 markets, your team or athlete of choice will either win, draw, or lose. There is no other outcome, regardless of what happens. Spread betting allows you to win more money if you’re prediction is overwhelmingly accurate.
Imagine you’re betting on a Celtics v. Lakers game and you think the Celtics are going to win. If you’re placing a bet on the Celtics winning by 5 or more points, the bigger the scoring margin – the bigger your winnings will be. An unexpected blowout because of a mid-game injury can turn you into a rich guy or gal.
However, there is also a risk involved. If the Celtics don’t win, you will lose money according to the scoring margin. Points betting is a pro’s game and requires thorough analysis before taking the plunge.
The spread rewards winning but punish losing. It requires knowing the full realm of probability, as well as the strength of both opponents.
All of these categories are unique in their own way, offering a specific set of perks and benefits. That’s the beauty of modern betting sites – your choice is so gargantuan that you can indulge even your wackiest punt ideas.
Keep in mind that a single bookmaker can have different attitudes towards different betting formats. For example, a site can allow arbitrage betting, but at the same time, offer no live betting options whatsoever. There are no guarantees, even if you’ve decided to choose a top-rated online sportsbook.
Much of this has to do with their target audience. In-play bets are much more popular in Europe, while spreads preferred by American bettors. The same goes for the Asian-Pacific market and their love towards handicaps. Before you choose a particular bookmaker and start trusting them with your money, it’s important to determine your exact goals.
Once you’ve put everything on paper, it will be much easier to find an online sportsbook that fits your criteria. Using this section, as well as the previous one, allows you to dissect bookies using a system of elimination. Every site that doesn’t fit the niche you’re interested in will be disqualified until it comes down to nuances. When it comes to these subtle differences, there’s a lot to write about. Here, we want to focus on a particular one – sports variety.
Do Online Betting Sites Really Allow You to Bet on Everything?
Sports betting was initially connected solely to the culture of sports. Soccer, in particular, was the driving force behind the connection of these industries. While we’ll cover this love affair in more detail later on, it’s worth pointing out the divergence in betting niches. This separation of sorts happened just as the digitalization of sports began to affect how we perceive numbers. Advanced statistics, spreads, probabilities, and so much more turned every sport into a fine science of its own.
That’s why professional punters specialize in three sports at most, just because the variables vary so much. In the mid-2000s, we saw the creation of the ‘bet on everything approach’. Award shows, elections, contests, reality shows – anything you can think of became fair game. While some consider this as a move that diluted sports betting, the exact opposite actually occurred. The once closed-off hobby became accessible to people who were previously uninterested in wagering money on the outcomes of sporting events.
Anyone with knowledge of anything could place a wager. Have you been following the debates pertaining to the upcoming US elections? Great! You’re now able to use your knowledge and turn it into cold, hard cash. Here are the most popular betting options in the current sports betting industry, along with some short pointers on how to approach said category:
Since it’s the most popular sport on the planet, the high interest resulted in a lot of markets. For decades now, bookies have been perfecting their craft with the Champions League, the Premier League, and just about every other competition that exists.
You will find a lot of prop bets, especially for attackers and midfielders.
If you love going in-depth while creating your slips, soccer is by far the best option.
Anything you can imagine, a market exists for that very idea.
With b-ball, you’re getting a faster-paced version of soccer, when looking at this duopoly from a bettor’s perspective. Since it’s a sport with a lot of points, basketball has become a true magnet for spread betting.
More and more punters are avoiding straight-up 1×2 bets and focusing on the intricacies of point spreads, total points, and so on. NBA games, in particular, are the driving force behind basketball becoming more popular.
When sports betting became legal in the US in 2018, the general population, which isn’t as accustomed to soccer as their European counterparts, shifted its focus to basketball almost immediately.
NFL’s SuperBowl Sunday is by far the biggest sports betting day in the world, but regular-season games attract significant volume too.
With the USA regulated their online betting, we can expect the numbers to increase even more.
However, there’s significant betting volume going at NFL in Europe and Canada also, as almost all major betting sites offer these markets.
Due to the overwhelming number of rules, improbable comebacks, and other crazy intricacies, tennis has become a favorite even to bettors who don’t actually watch it. In fact, most professional bettors use tennis matches to bolster their accas and get a spike in the overall odds of their betting slip.
They aren’t that hard to predict, but there is also a significant number of upsets involved. We also can’t forget the fact that each set is segmented into games, which are further segmented into points.
When you also consider things like unforced errors, returns, aces, and tie breaks, there are a lot of live betting options. If you’re looking for a quick payday and high odds, in-play bets on tennis matches might be the best way to accomplish such a feat.
Believe it or not, most bookmakers offer more markets on hockey than on basketball or soccer. Compared to other sports, hockey isn’t widely spread. But the countries that do love hockey are truly crazy for ice skating on steroids, as some like to call hockey.
If you’re interested in hockey games, there’s a lot to bet on once you find a specialized bookie. Brands from Canada, Sweden, and Russia are known for their intense focus on the NHL and the KHL. One thing that also interests punters who don’t watch the points of the sport.
They are calculated differently depending on whether you’re talking about a team stat or a personal stat. This adds a whole new variable to an already exciting sport that’s rapidly gaining popularity with punters around the world.
Even though there aren’t many niche betting sites, most of those who are active focus on horse racing. Why? Well, it’s a sport that’s deeply rooted in tradition, which means that punters who follow it, follow it almost obsessively.
There are many highly regard events over the course of the year, with many variables giving you just a slim picture of what’s going to happen.
Upsets happen all the time, plus the human factor isn’t as big as in other sports betting staples. If you’re looking to get into this strange betting niche, you need a lot of studying and preparation.
Seasoned punters like to call election betting ‘glorified live betting’. As funny as it sounds at first glance, it’s a very descriptive way to talk about these important political events. It is, in fact, placing an in-play bet.
The ‘game’ starts the moment each of the candidates starts their campaign. Their statements, plans, track records, whether a scandal from their past gets unearthed – all of this is important when it comes to betting on elections.
You just have to follow the campaigns diligently and see whether a particular president/primer minister hopeful is trending with a certain age group, gender, educational level, and so on.
Election bets are based both on statistics and unpredictability, so it’s a worthy challenge for those looking to break the bank.
Probability one of the biggest betting markets for elections was whether Donald Trump is going to become president of the USA. We recall the betting market offering odds of 100 to 1 for this early on.
The Eurovision Song Contest/other singing competitions
Remember when we said that you can bet on anything that has a winner or an outcome of any sort? This a prime example of this trend in sports betting, as you can use odds, reviews, and analyses to determine which contestant will place first.
For Eurovision betting, you can just take a look at the tips or even listen to the songs to see which one has the biggest hit potential. Eurovision markets go much more than winner/placement bets.
You can predict which country will be the most generous when it comes to points. Song quality, alliances, voting blocks, and so much more come into play. This is definitely one of the most dynamic approaches to taking punts.
Before you take the plunge and choose a particular bookie, see their track record when it comes to your favorite sport/category. Don’t create an account immediately. Instead, follow their selection, ongoing promotions, and odds for a couple of weeks.
This will give you ample data to base your decision upon. Also, you can combine this knowledge with the information about bonuses that are coming your way in the next section.
Should You Use a Sign-up Bonus?
Definitely. If you’re looking to maximize your winnings, a sign-up bonus is something that should definitely be in your sports betting arsenal. This approach gives you a financial cushion, first and foremost.
You don’t have to spend a lot of money to win a lot of money, even if you’re usually not a high odds bettor. If you lose, your bankroll won’t take as big of a hit as it otherwise would. It’s ‘a luxury’ that can serve rookie punters to learn the ins and outs of the game, all while giving pros ample time to gain their footing on a new site.
Other bonuses, ones that aren’t received the moment you create your account, can have mental health benefits. Most of us stress over money when we’re betting. Betting with a promotion or bonus of any kind is taking some time away from stress. As you’re not worried about winning by any means necessary, you will have the pizzaz to approach some riskier bets and make predictions with a clear mind.
As the sign-up bonus is perhaps the oldest form of promotion used by betting sites, it has diverged into several different types. Here are the most used welcome offers, along with the exact benefits they possess:
This type of promotion is rare, but some betting sites still use it.
The moment you register, you get a certain amount of money to bet with.
Wagering requirements are usually involved.
Once you deposit money into your account, you will get a certain match.
50%, 100%, and 200% are the most common numbers you’ll see.
Still, there are betting sites that are willing to go crazy.
Instead of getting cash upfront, you will have any losses from your first losing bet completely voided.
This sort of a cushion can be very useful, especially if you’re having a rough day
Some bookmakers don’t want you using the bonus money on just about anything.
A free bet is a great way to show players some of the flagship sections on a site.
Minimum odds requirements are often present.
Reasons to Be Optimistic: The State of the Industry
The popularity of online betting sites is at an all-time high. Rampart digitalization, streaming services, YouTube highlights, better apps – these are just some of the factors that have helped sports betting spread to all four corners of the globe. Gaming regulatory bodies have also become more experienced, which helped them learn how to recognize unworthy bookmakers.
As a result, the competition is stiffer than ever. Every bookie has something to offer, resulting in more satisfied bettors and better customer retention rates. This doesn’t, however, leave the industry devoid of challenges.
The Challenges of Launching a Betting Site in 2020
For sports betting startups, uniqueness has always been a hot topic. Everyone wants to offer a revolutionary product that’s sure to dazzle each person that visits the site. This false belief may very well be the biggest challenges entrepreneurs face in 2020. You can’t always have to be the first, but you can always be the best.
Introducing new formats and approaches is risky because the average punter is slow to grow accustomed to the latest trends. Let other bookies make their mistakes, learn from them and perfect an imperfect model.
Investor skepticism is another challenge that mars today’s sports betting landscape. Financiers like to see immediate results, even though this is an industry based on long-term feasibility and return value.
Because of this, many entrepreneurs who actually have great ideas are discouraged from entering the business. Skepticism is, oftentimes, a pathway to gatekeeping.
How Sports and Sports Betting Became One: Sponsorships
Even though most legislative bodies are skeptical about the sports betting industry, betting sites aren’t looking to bypass existing laws. Instead, they are using sponsorships in order to be present in the public eye and to promote fairness in their relationship to sports.
Of course, betting scandals like the one with Tim Donaghy and the NBA will happen, but sports teams will always be willing to forge partnerships with bookmakers.
Take the English Premier League as an example. Ten clubs participating in the 2019/20 EPL season have signed sponsorships contracts with betting companies. These teams will receive £350 million (roughly $CAD624 million) from their respective partners.
In the US and in other countries, movements against bookies advertising themselves on teams’ jerseys are very active. For the most part, the situation is stable and regulatory bodies have the situation under control.
Overview of Sponsorships in Various Sports Around the World
Why Is Sports Betting More Socially Accepted Than Other Forms of Gambling?
An Emphasis on Secure Payments
To truly be able to navigate the sports betting industry, you need to know about one final thing – secure payments.
With the rise of e-wallets and other, simplified forms of transferring money to a bettor’s account, security has become the most important item on every bookmaker’s checklist.
Two methods prevail – PayPal and Bitcoin. Betting sites have become adamant in their efforts to obtain the green light for these prestigious platforms/currencies.
PayPal Betting Sites
PayPal is the world’s most popular e-wallet and is known for its high-security standards. Founded in 1998 and ultimately merged with X.com, a company spearheaded by a young Elon Musk. Their initial goal was to create a form of currency that would be immune to interference from governments and banks. While they didn’t create the revolution they hope for, PayPal left a large imprint on betting sites.
In 2002, just 8% of PayPal’s total processing business was due to online gambling. Since betting sites were a novelty back then, the company was balancing on the edge of legality, which didn’t sit well with investors. After a short hiatus, they started providing services to online sportsbooks and gaming sites in 2009. This time, they sought to do everything completely legally, without risking the future of the brand.
Today, they’re active in more than 100 countries and are a favorite of every passionate bettor. But what makes this e-wallet such an attractive option for this particular sector? While there are many variables in play, it all boils down to these reasons.
- First and foremost, PayPal is seen as a staple of legitimacy. This is because they won’t collaborate with any betting site that has even the remotest issue when it comes to licensing and fairness.If a bookmaker is able to use PayPal as a deposit option, they will automatically gain the trust of even the most stubborn skeptic. Think of it as the ultimate test of trustworthiness.
- Creating a PayPal account is simple and doesn’t require players to share too much of their personal information. Basically, this e-wallet is so beloved because it’s focused on the essentials. Any bettor can connect an existing bank account with their PayPal account and use the money in whichever way they deem fit.
- Some banks purposely stall deposits to betting sites. PayPal allows people to bypass all the bureaucracy and enjoy their favorite hobby. It’s basically an extension of a regular bank account, but without all the drawbacks.
- Almost all transactions are instant, removing those annoying processing times from the equation. Not only this, but PayPal is the king of safety. Unlike many banks and newer e-wallets, PayPal is an established player that has a spotless track record when it comes to security measures.For this and all the aforementioned reasons, this is every punter’s preferred payment option. Of course, regional restrictions do exist, but PayPal reigns supreme wherever it’s available.
If you’re thinking of starting a betting site in the near future, put PayPal near the top of your priority list. Just the presence of their logo on your homepage could solidify your site’s reputation when it comes to secure and easy payments. PayPal makes life easier for both you and the punters who trust you with their money.
Bitcoin Betting Sites
Launched in 2009 by the mysterious Satoshi Nakamoto, Bitcoin is the world’s largest and most famous cryptocurrency. Describing this strange financial subculture in full would require several times, but the crispest definition is probably the following – Bitcoin is a digital currency that enables peer to peer-to-peer transfers, without the need for interference by any third parties, state-permitted or otherwise. These days there are many ways you can use your Bitcoin to gamble, including betting sports.
The crux of Bitcoin’s success also lies in the fact that all transactions are verified by the currency’s users themselves. All the data is placed on a public distributed ledger, better known as the blockchain. Due to advanced cryptographic technology, it’s impossible to trace Bitcoin transactions from either side. While the early days of this currency were marred with connections to crime syndicates, this entire period became an important reminder that anonymity is everyone’s right and that it’s not required only by criminals.
As you can imagine, Bitcoin didn’t have it easy. In the early 2010s, more and more betting sites became interested in the idea of becoming ‘crypto sportsbooks’. At the end of the decade, many prominent brands started accepting both deposits and withdrawals.
You could even see crypto-only bookies! While Bitcoin’s popularity cannot be disputed, no matter how hard one tries, why is this currency so important to punters all over the globe. It’s all due to the following benefits:
- Anonymity. Even though betting sites are legal in most of the world, some societies still frown upon this activity. Bitcoin is heaven-sent for punters in these regions, as they are able to enjoy doing what they love without the fear of scrutiny. Due to the power of cryptography and the anonymous nature of Bitcoin, they can have fun without the fear of being ‘busted’.
- Low fees. Banks, e-wallets, and other payment providers live off of the fees players pay to deposit or withdraw their money. Compared to traditional options, Bitcoin transaction fees are almost non-existent. For professional bettors, a move towards Bitcoin could mean tens of thousands of dollars saved on a yearly basis.
- Instant payment processing. Most Bitcoin transactions are cleared in a matter of minutes. Compared to banks, who are known to sometimes take even five days to verify a transaction, it’s a much better option for all those looking to turn their winnings into even more winnings. Flux is everything when it comes to using betting sites.
- Security. Have you ever thought about what happens if an e-wallet is hacked? All your data is stored somewhere and can land in the hands of malicious individuals, believe it or not. Bitcoin doesn’t function that way. It’s not a website, it doesn’t have servers, nor is it susceptible to hacking. The only thing you need to do is keep your cryptocurrency wallet safe and you have nothing to worry about.
Whether Bitcoin will become more ‘mainstream’ in the next few years is up for debate. What’s certain is the fact that this form of payment is highly sought-after by bettors, meaning that betting sites must include crypto options if they wish to improve their status with existing customers. It’s what the market demands.