Canada’s iGaming market is experiencing a transformation fueled by the integration of cryptocurrencies like Bitcoin, which offer a degree of anonymity and smaller transaction fees.
However, this anonymity can also lead to potential scams, especially in casinos that operate without a license. The CEO of Bojoko, Joonas Karhu, a leading expert in the online casino space, warns players about the dangers lurking in these unregulated environments.
“Engaging with an unlicensed Bitcoin casino can be akin to playing a high-stakes game without knowing the rules,” the CEO stated. He highlighted that while Bitcoin casinos’ appeal lies in their offer of added privacy and instant transactions, these features should not overshadow the need for safety.
A Genuine Risk of Scams
“The risks associated with unlicensed casinos range from outright theft of deposited funds to data leaks. These casinos often fail to implement necessary security protocols, leaving players vulnerable. Furthermore, without a regulatory body to turn to in case of disputes, players may find themselves without recourse in the event of unfair treatment.”, Karhu states.
Karhu steers the ship of Bojoko.ca, known for its rigorous vetting of online casinos. The company has developed a comprehensive set of review criteria and testing methodologies to ensure that each casino listed on its site upholds high standards of security and fairness. Their process includes checking for valid gambling licenses, testing the casino’s operational integrity, and verifying the security measures to protect players’ data and funds.
Gambling regulation in Canada is predominantly managed at the provincial level, with each province having the authority to oversee gambling activities within its borders. Ontario stands out as the only province with a specific licensing system for online casinos, managed by the Alcohol and Gaming Commission of Ontario (AGCO) and iGaming Ontario. This allows Ontario to regulate and license online gambling operations directly, setting clear legal standards.
In contrast, the rest of Canada remains a grey market regarding online gambling. While provinces like British Columbia, Quebec, and Manitoba operate online platforms through provincial lotteries, many other provinces have not established clear regulations for private online gambling operators. Consequently, numerous international online casinos continue to serve Canadian players without local licenses, operating under international regulatory bodies instead. This situation leaves much of Canada’s online gambling scene in a legal grey zone, without explicit provincial oversight outside of Ontario.
How to Stay Safe When Playing at Canadian Bitcoin Casinos
To stay safe while enjoying the thrills of Bitcoin casinos, Karhu advises players to always check for a valid gambling license, read reviews from trusted sources, and verify the casino’s security measures. He also expanded on what Bojoko.ca does to help players discover safe Bitcoin casinos.
“One of our key duties as a comparison site working in the Canadian market is to vet each brand we review carefully. Each casino we list has undergone stringent evaluations to ensure it meets Bojoko’s criteria for security, fairness, and customer service excellence. This is the basis of Bojoko’s curated list of safe Bitcoin casinos. The goal of creating easy overviews like this is to ensure that players have a safe shortlist to choose from, rather than needing to do a lot of research and discarding on their own.”
Karhu also recommends that players thoroughly read and understand the terms of service and privacy policies before engaging with any casino. This can help avoid surprises about the casino’s practices regarding data handling, bet limitations, and cash-out procedures.