Gambling Wins Reports in Canada & Cryptocurrency

Lisa Cheban
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Lisa Cheban


Lisa is an esteemed expert in the field of iGaming. With her extensive experience in writing iGaming content, she possesses the knowledge and skills to provide you with the most informative and engaging insights into the world of gambling.


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Simon Young
Reviewed byReviewed by:Simon Young


Simon Young


Simon Young, a former national news editor and journalist, once held the prestigious position of Lead Editor at PokerStars before focusing his editorial talents on Betsquare. His illustrious career journey seamlessly bridges the realms of journalism and online gambling, crafting a unique narrative of expertise and innovation.


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Updated on:

Feb 19, 2024, 2:06 pm


Gambling in Canada can be a mind-blowing experience due to diversified solutions to place real money wagers. That’s why online casino players here should consider some legal aspects associated with taxation for winnings. Of course, these aspects vary depending on a province, and you need to consider both the activity type and the amount earned to boot. But it’s also worth mentioning cryptocurrency which remains payments anonymous, so our team is here to delve into these details!

high payout casino money bag

Canadian Gambling & Taxation: Basic Aspects

Interestingly, gambling taxes in Canada vary depending on your province and activity. The country did its best to make the industry both legal and accessible, and the taxation issue is no exception. In a nutshell, the Paragraph 40(2)(F) of the Income Tax Act states that in most cases, winnings from Canadian online casinos aren’t taxable (an exception is when gamblers get interest from such stakes). And when we are talking about income (the net amount players earned while gambling), Canadians report this income via T5 slip, T3 slip, and T5013. The tax rate is 15% to 33%, and players can deduct losses to pay only for net income.

Legal Aspects of Canadian Gambling

One more detail to consider is the legal aspect of gambling in Canada. In most cases, the activity is legal when you are a legal age gambler (18+ or 19+, depending on the country) and access a licensed gambling site. For some provinces, these licences should be not global but local, such as AGCO for Ontario.

Things to Avoid at Canadian Casinos

Even when you understand how to use cryptos to avoid taxes for gambling wins in Canada, you should still keep in mind risks of fraud and cybersecurity tips in this regard. Players should opt for licensed and reputable gambling sites which don’t have complaints from players and can boast transparent conditions.

AI & Crypto Gambling with No Taxes

Since Artificial Intelligence is one of the latest gambling trends, we can’t miss this aspect. It can also be applied to analyze local tax rates for Canadian casino wins. You can provide information about your location, the amount you’ve won, the amount you’ve spent, and other things to calculate whether you have to pay anything.

Avoiding Gambling Addiction in Canada

Players in Canada should take care not only of local tax rates but also of safe gameplay in terms of responsible gambling. You shouldn’t consider gambling as your income, and you should focus on responsible gambling aspects instead. This way, you’ll avoid compulsive gambling and have fun while enjoying the industry.

Cryptocurrency & Gambling Income Reports

Well, you understand that net income is taxable when this money is withdrawn to your bank account and the government tracks it. But what if you withdraw winnings via ways which can’t be tracked by authorities? Cryptocurrency can help a lot in this regard since the payment option is fully anonymous and doesn’t force players verify their identity or provide other proofs of any kind.

How to Play Casino Games with Crypto

Payment options like Bitcoin are extremely popular worldwide, and Canada is no exception. We understand that the method can be very different compared to fiat payment options, but our team is here to clarify this aspect and explain how to play casino games for cryptos with no taxes:

  1. Choose a top real money Canadian casino relying on our objective rating
  2. Select an online or downloadable service to open a cryptocurrency wallet
  3. Top up the wallet by purchasing cryptos or exchanging other currencies
  4. Enter the casino’s account and pick your currency in the depositing section
  5. Send the specified amount to the generated address (you can use a QR code)
  6. Enjoy real money games and withdraw crypto wins with no reports

Blockchain Casino Payments: Top-5 Cryptos for Canadians

The world of blockchain payments is really diversified, and Canadians, actually, shouldn’t learn about all the available options. However, we believe that it’s helpful to explore at least the top-5 cryptos to understand which one is the most suitable to open an account and place real money casino bets:

Crypto name Description Exchange rate to CAD
Bitcoin (BTC) Many online casinos and sports betting sites accept Bitcoin as a payment method. BTC was created in 2009 by an anonymous person or group using the pseudonym Satoshi Nakamoto.  1 BTC is about 37,400 CAD
Litecoin (LTC) Litecoin (LTC) is a peer-to-peer cryptocurrency that was created in 2011 by Charlie Lee, a former Google engineer. Like Bitcoin, Litecoin is not directly linked to a person’s identity.  1 LTC is about 85 CAD
Ethereum (ETH) ETH is based on a decentralized platform that was created by Vitaliy Buterin in 2015. It supports DApps (decentralized applications) that include various types of gambling platforms.  1 ETH is about 2,140 CAD
Tether (USDT) It was designed to have a stable value by being pegged to a reserve of real-world assets, such as the U.S. dollar. In most cases, you can simply compare USDT to USD. 1 USDT is about 1.37 CAD
Ripple (XRP) Ripple is often associated with its native cryptocurrency, XRP. Unlike Bitcoin or Ethereum, Ripple is not primarily designed for individual users or miners but rather for financial institutions. 1 XRP is about 0.68 CAD

Operators or Players: Who Pays Taxes?

The issue of Canadian gambling taxes may be a bit confusing for customers who haven’t explored this subject yet, but we are here to differentiate several essential facts. Simply put, most gambling income of the country is based on taxes from companies which provide gambling services, while players can rest assured. These are the taxes which should be paid by Canadian operators, not players:

  • Ontario – between 5.05% and 13.16%.
  • Quebec – 14% tax on their first $49,275 of earnings.
  • Manitoba – 10.80% (income levels up to $36,842), 12.75% ($36,843 to $79,625), 17.40% (over $79,625)
  • British Columbia – 5.06% for the first $45,654 of earnings and gradually increase to 20.50% for income of over $240,716.

Other Spendings Canadians Can Face

Besides considering local taxes, Canadians should also pay attention to a range of other directions which may cause extra spendings. Our BetSquare team will name these directions and provide a few ideas to help you avoid such spendings:

  • Fees while transactions
    Depending on a payment method, you can face fees charged by a certain option, so you should check this aspect beforehand and choose an alternative option which is charge-free if it’s available.
  • Deposit turnover fees
    By examining the casino’s T&Cs, you can notice that most Canadian operators require your deposit turnover. This means that you should spend 3x the deposit amount to avoid cashout fees.
  • Casino bonus wagering
    All these offers seem too attractive, but you shouldn’t forget about wagering since these limits can make an offer too difficult to get. Try to focus on offers where the wager is 35x to 50x, noot higher.
  • Slots options like Bonus Buy
    When you play table games, such options are called side bets. The same is with slots. Players should better avoid such options not to spend too much per round (eg. 100x the initial bet).

Top Canadian Crypto Casinos for Real Money Gameplay

Here, we have decided to add a list of the top-5 online casinos that have tax-free Canadian casino games from the best providers. On these sites, gamblers can make deposits and withdraw their winnings using popular cryptocurrencies. Thanks to this feature, players do not need to pay taxes online. So, here are our favs:

Casino Description Welcome Bonus
iWild Casino This is a Canadian casino that can offer over 8,000 good games, such as slots, crash games, live games, table games, and card games. 5,300 CAD + 270 FS
Snatch Casino Here’s a legal online casino with generous bonuses (more than 6). There is a VIP program, tournaments, a reload bonus, and achievements that are for high rollers. 6,000 CAD + 325 FS
Goodman Casino It’s an excellent casino with a generous welcome bonus of 5 top-ups. This casino also has a large number of tournaments and more than 5,000 games. 3,000 CAD + 350 FS
LevelUp Casino Here’s a unique platform where you can play 4 slots at the same time. The casino also has a mobile application for iOS and Android. 2,000 CAD (5 BTC) + 200 FS
Playfina Casino Playfina is a popular casino with a wide range of entertainment and a rewarding VIP program where there is a personal manager and generous cashback. 1,350 CAD + 200 FS + Secret Bonus

Crypto Games: Play with No Taxation Reports

In reliable online casinos in Canada with no taxes, you can play a lot of gambling entertainment that supports all payment systems, including crypto. Of course, in all such casinos, there are more than 4,000 games, and therefore, we decided to add a list of the most popular ones that may interest you for their mechanics, RTP, and potential.

  • Slot machines
    Online slots are a popular form of entertainment where you need to spin the reels to match the same symbols on the lines. Also, such games have many bonus modifications, such as cascades, free spins, Megaways, and jackpots.
  • Crash games
    Such games came to us from the crypto world and they, as a rule, have very generous potential. Players need to place a bet and watch the multipliers grow, and most importantly, they need to collect winnings in time before the multiplier explodes.
  • Table games
    In the table games section, you can play the most famous software, such as poker, baccarat, roulette, blackjack, craps, and bingo. In this type of entertainment, gamblers will play in single mode which is not live gameplay in real time.
  • Live software
    In live games, gamblers will be able to gamble with live dealers and at the same time communicate in an online chat with both the host and other players. TV shows are also very popular now, so you can play monopoly or even slots with hosts.

Final Thoughts: Crypto Gambling with No Reports

Local Canadian laws have lots of benefits making online gambling accessible and interesting. That’s why gamblers can focus on exciting gameplay and not take care of various aspects which make this entertainment challenging. Due to cryptocurrency which is accepted by most local online casinos, Canadians can enjoy not only fast but also anonymous transactions, which is suitable for players looking forward to avoiding taxations for their wins. Thus, it’s a good way to go when you have a crypto wallet and want to try out some real money games in Canada with no taxation then.


Should Canadians pay taxes for online casino games?

Well, first of all, we should note that the gambling industry is based on income from operators, not players. Besides, it all depends on whether you get net income or just win. And finally, crypto wins can be kept anonymous and non-taxable.

How do I use cryptocurrency not to pay Canadian gambling taxes?

When you deposit and withdraw at Canadian online casinos by using cryptos, you keep this money anonymous and don’t report such wins. This allows gamblers to keep these amounts private and avoid taxation.

What crypto casino games can I play in Canada?

Fortunately, this range is extremely wide, which allows Canadians to play crypto slots, crypto table games like blackjack and baccarat, lots of crypto live games, and other titles which won’t require taxation then.

What is the best cryptocurrency to gamble in Canada?

Actually, you can choose any crypto if you’ve already got a topped up wallet. If not, you can opt for Bitcoin, Litecoin, Ethereum, Tether, Ripple, or other cryptos you find available at your online casino.

Do Canadian online casinos accept crypto payments?

Sure, and most operators not only offer varied cryptos but also provide bonuses in BTC, LTC, and other cryptos. For example, the 2,000 CAD (5 BTC) + 200 FS welcome pack at LevelUp.

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Current Version
Dec 7, 2022
Written By
Lisa Cheban
Edited By
Simon Young