The combination of cryptocurrencies and sports betting has become increasingly popular in recent years. More and more players are looking for platforms where they can make deposits in Bitcoin or Ethereum, receive winnings without delay and at the same time not depend on the banking system. We analyse how 1Win works, what it offers Canadian players and what to look for if you want to bet in crypto.
1Win and Cryptocurrency: What It is and Why It Matters
1Win began operations in 2016 and has since grown into a multifunctional operator with customers all over the world. The brand has obtained all official licences for its operations from Curacao. Like many other operators, 1Win strives to adapt to the changing demands of players, including the growing interest in cryptocurrencies.
Cryptocurrency support here is not limited to just one or two tokens. Users can deposit and withdraw funds in Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Tether (USDT) and other popular currencies.
Crucially, cryptocurrency transfers allow Canadian players to circumvent some of the restrictions they face when betting on foreign sites. For example, using Interac or bank cards to fund an account on a foreign platform can result in blocking or additional checks. With cryptocurrency, there are no such barriers.
Deposits and Withdrawals in Cryptocurrency
Cryptocurrency transactions are not just a trendy solution, but a real advantage in terms of convenience and speed. To top up your account on 1Win, all you need is your own crypto wallet and to copy the address specified in your profile. After sending funds to this address, the deposit usually appears within 5-30 minutes, depending on the blockchain network load.
Withdrawals work on a similar principle. The user specifies the crypto address to which the winnings should be transferred and waits for confirmation. According to player reviews, in most cases, cryptocurrency withdrawals take from a few minutes to a couple of hours, which is a significant advantage over traditional bank transfers, especially international ones.
The advantages of using cryptocurrencies for betting are obvious:
- No need to verify bank cards or documents for transactions;
- Independence from banking regulations and currency conversions;
- Minimal transaction fees, especially for large amounts.
However, it is important to remember the potential risks. In the event of a sharp change in the exchange rate of cryptocurrencies, the amount of winnings in dollar terms may change significantly. Therefore, it is important to take volatility into account and, if necessary, use stablecoins (e.g. USDT), whose exchange rate is pegged to the dollar.
How Cryptocurrency Betting Works: 1Win Sports Section
In terms of the process itself, sports betting with cryptocurrencies is no different from betting with fiat money. After the deposit is credited (regardless of the currency), 1Win automatically converts the amount into the internal currency of the account, and the player places bets as usual.
The platform offers a wide range of sports: football, hockey, basketball, cricket, tennis, e-sports and many others. For Canadian users, the NHL, NFL, NBA and CFL are relevant, and the odds are often higher than those of local operators, which makes the game potentially more profitable.
Bets are available both in prematch format (before the start of the event) and in live mode (during the game). In the latter case, you can track events in real time, analyse dynamics and quickly change your strategy.
Online Casino at 1Win: Does It Work with Crypto and How Does It Work in Practice?
The casino at 1Win is an extensive section with hundreds of games from leading providers: Pragmatic Play, NetEnt, Evolution, Microgaming and others. Players have access to slots, roulette, blackjack, baccarat, poker, games with live dealers and more unusual genres such as TV games.
Interestingly, when using cryptocurrency to play at the casino, the same mechanism applies as when betting on sports. Deposits made in BTC or USDT are automatically converted into account units, after which they are available for betting in any section. Withdrawals of winnings back into cryptocurrency are made without any additional steps.
It is worth noting that players from Canada may encounter restrictions on access to certain providers. This is due to the specifics of gambling regulation in certain provinces. However, in most cases, this applies to large local operators, and there are almost no such restrictions on 1Win.
Security, Licence and Availability in Canada
1Win operates under a Curacao licence, which is a common model for international bookmakers operating outside of Canadian regulations. For players, this means one thing: there will be no legal guarantees from local authorities, and all relations with the operator are direct.
Nevertheless, the platform uses standard security tools:
- Data encryption and transaction security;
- Two-factor authentication;
- KYC policy in case of suspected fraud or abnormal activity.
In terms of accessibility, the 1Win website can be freely accessed in Canada, including Ontario and British Columbia. However, due to the lack of a local licence (e.g. from AGCO), the operator cannot advertise or officially operate under Canadian regulations.
What Bonuses Does 1Win Offer for Crypto Deposits?
1Win offers attractive bonuses for both new and regular players. The most well-known offer is the “Up to 500% bonus on your first deposit”, which may also apply to cryptocurrency deposits. However, it is worth noting that the wagering requirements are quite strict: in order to withdraw bonus funds, you need to place a certain number of bets with specified odds.
Additionally, the platform offers:
- Weekly cashback on lost funds;
- Exclusive tournaments for active casino players;
- Increased odds and free bets on popular sporting events.
It is important to always check whether a particular bonus applies to cryptocurrency deposits. This information is usually specified in the promotion rules. Some offers are indeed only valid for fiat deposits, but 1Win is increasingly expanding its support to cryptocurrencies.
