Bitcoin casinos are revolutionising casino deposits and withdrawals. Although not yet in the mainstream, bitcoin gambling in online casinos is becoming more widely available all the time. Put your tokens on the table and get playing in a bitcoin casino in Canada.
Best bitcoin casinos
Ready to play with some crypto? Check out our extensive list of online casinos supporting bitcoin deposits and withdrawals. We have listed all the best bitcoin casino sites in Canada. Use the quick filters and sort the casinos to narrow down the selection.
Very low transaction costs, tied to the transaction speed
Cut out the middleman
Your winnings may increase in value as BTC gains momentum
Low fees are a major plus. On bitcoin gambling sites you can expect lower transaction charges than in most other online casinos. Even some of our top 10 online casinos are now accepting bitcoin deposits.
Play bitcoin casino slots
Dedicated bitcoin casino slots that show the bets, balances and winnings in BTC still haven't hit the mainstream. You can play some slots directly with bitcoin. However, most bitcoin slots are still programmed to work with traditional currencies only.
If you want to take advantage of a wider selection of the best online slots, you'll need to convert your bitcoin into a fiat currency. This means £/€/$ and all other non-cryptocurrencies. Bitcoin casinos usually have instructions to guide you through this process.
Benefits of crypto casinos
Bitcoin was the first digital currency to operate on blockchain technology. Bitcoin is a decentralised virtual currency that isn't controlled by one single entity or institution. The pros of this are the transparency and privacy of the transfers.
On crypto casino sites, your money is in your own hands. Decentralisation promises:
No external control over the system
Lower or no transaction fees
Another special feature of bitcoin casinos is that they can be "provably fair." This concept is unique to casinos that support blockchain technology.
Provably fair casinos prove themselves to operate 100% fairly through mathematical verification. Provably fair casinos cannot corrupt the fairness of their games.
Here's how provably fair gaming works:
The casino creates a seed number for the bet.
This is hashed (turned into a secret code like a digital signature) and sent to the player.
The player then adds their own seed number and the bet takes place.
When the bet's over, the player receives the seed used in the bet.
If it matches the bet, it's verified automatically by the system.
If the casino tries to manipulate the bet outcome, the bet becomes invalid.
The accuracy and fairness of a bet's outcome can be verified by players in real time. The provably fair mechanism is strongly tied to the random number generators. It may take a while before you can play in a live casino using the same verification method.
Not all bitcoin casinos are provably fair casinos. You can check whether a casino is provably fair on the casino website. The "provably fair" label is normally found and explained on the homepage or "About us" page.
FLEXIBILITY AND VERSATILITY
Bitcoin opens up the world of online casinos and banking options to users who would otherwise have access to neither. At the same time, adding Bitcoin as a payment option to a casino has become easier.
PayPal casinos have to jump through many hoops to get approval. Instead, bitcoin has quickly become more prevalent online.
Bitcoin can be transferred amongst users anywhere in the world. Bitcoin is an international digital currency that:
Can be used for anything by anybody
Makes bank accounts and credit cards unnecessary
Bitcoin online casinos also have an upper hand over the mobile billing casino sites. In addition to making deposits, you can also withdraw your winnings to your BTC wallet. Since using bitcoin cuts out the middleman, it's a fast withdrawal method in a casino.
Bitcoin offers unique layers of protection that aren't found in other banking options. Every single deposit and withdrawal made in a bitcoin casino will use a unique, encrypted digital address. All your transactions are coded. Your personal and financial information can never be disclosed as transactions are processed.
Using bitcoin doesn't make you completely anonymous. Casinos, exchanges and wallet providers usually require you to prove your identity.
However, bitcoin has been designed to make users pseudonymous. The network functions with a private key and a public key:
The private key is a secret number that allows bitcoins to be spent and is saved in your bitcoin wallet.
The public key is equivalent to your bitcoin address, which changes for every transaction you make.
Private and public keys work together as a sophisticated two-way authentication system.
What is a bitcoin casino?
Bitcoin casino is an online casino where you can use bitcoin for deposits and withdrawals. You may be able to play some games using btc for bets. However, most online slots are programmed to use fiat money to keep tally of your wagers and balance.
Which casinos accept bitcoin?
Bitcoin is still relatively rare payment option in online casinos. We have listed those that do accept bitcoin.
Some casinos have bitcoin transactions integrated in their casino platform. In these casinos, you can deposit directly to your personal bitcoin address that's tied to your casino user account.
Depending on the casino, you may be able to withdraw some or all of your bitcoin balance instantly. Others may require the casino staff to authorise all or at least the major transactions.
Most bitcoin casinos use a third party payment provider to process deposits and withdrawals in bitcoin and other crypto assets.
Popular third party services include:
Third party services have different approaches to digital currencies. You may need to set up an account to use them. Pay attention to possible deposit and withdrawal fees that can be a fixed sum or a certain percentage of the amount transferred.
How long for online casino to receive bitcoin deposit?
Bitcoin provides its users nearly instant casino deposits and withdrawals. However, bitcoin transfers can take a couple of minutes to clear.
Your transaction is recorded in the distributed ledger and becomes an immutable part of the blockchain history as links to the chain are forged upon the previous ones.
How to cash out bitcoin from an online casino?
This depends on whether or not the casino is handling bitcoin transactions directly. If it is, you can withdraw bitcoin directly to the address from where you made your deposit. This may require authorisation from the casino payments department.
If the online casino is using a third party payments provider for bitcoin transactions the withdrawal practices vary between companies. You may need to first withdraw your bitcoin to your payment processor account and from there you can move it to your own bitcoin address.
How much is 1 bitcoin worth in an online casino?
1 bitcoin in an online casino is worth just as much as it is anywhere else. Canadian online casinos have an exchange rate for btc that reflects the current market situation.
Bitcoin and other crypto currencies are a volatile asset class, meaning their price fluctuates heavily.
For example, in 2019 the price of btc has varied between $3,178 and $13,829. The change has not always been positive for bitcoin holders.
Lauri has worked in online gambling for over 3 years reviewing hundreds of online casinos, bonuses and games. Lauri has a masters degree in history from the University of Tampere. He is a live casino aficionado who has also created his very own roulette strategy.