Best Sports Betting in Canada
The sports betting industry is one of the most significant facets of the gambling market. In the best-case scenario, the Canadian legal sports betting market is expected to generate over $25 billion in the next three years, both from retail and online, especially once it’s legalized in every province of Canada. Because of the continuous growth of the market, there’s an increase in the number of gamblers. More Canadians are getting into sports betting, especially online sports betting. That’s why we’ve compiled and summarized all the essential information you’d need to start this thrilling journey. We’ll discuss which online sites to play on, what sports to pick, and many more wagering details useful for beginners.
Best Online Sports Betting Sites for You
There are over hundreds of online betting platforms to choose from. Here’s a list of the best ones to try:
This is one of the most popular online sportsbooks in Canada. If you’d like live betting and to bet on sports like football, basketball, baseball, hockey, and more, this is the right choice for you. Many Canadians have loved this platform ever since it was launched in 1997. It’s fully licensed to operate in Canada and offers an excellent 100% welcome bonus. You can enjoy betting with its desktop version or its mobile one.
It’s a popular online betting site with a wide range of sports to bet on. The platform runs on a very modern and polished interface. As a newbie, you’re offered a hefty welcome bonus of up to $300. One of its best features is the fantastic customer service. You can receive assistance from their 24/7 live chat support, send an email or call their hotline for any issues or concerns with the site.
New players can get up to $500 as a welcome bonus with 10Bet. It’s available for mobile devices, so you can bet on sports or even play online casino games directly on the site. It also offers competitive odds on some of the biggest sports like tennis, basketball, soccer, and more.
This is an online sports betting and casino platform that offers high-quality sports and games to gamble on. Beginners and professional bettors alike should find it easy to navigate because the sportsbook is intuitive and has great graphics. You can get up to $500 as an exclusive welcome bonus. PowerPlay is best known for live betting and easy withdrawals.
It’s one of the biggest and most reliable online betting sites available in Canada. If you’re also interested in poker and other casino games, you can take turns in wagering on them within one platform. It’s been in service since 1994 and offers generous bonuses with a sleek and smooth website interface.
Learn to Bet on Your Favourite Sports
If you’re still undecided about which sports to bet on, here’s a list of some of Canada’s favourites:
Since Canada is home to many National Hockey League or NHL teams, NHL is one of the most popular and beloved sports to wager on an online sportsbook. Canada is rightfully seen as a hockey country that has a genuine interest in the NHL, leading to high demand for NHL betting and bringing hockey to the top spot in sports betting among Canadians. Since there are many NHL fans in the country, betting creates a connection between teams and their fans. You can always find NHL on any sports betting site.
The National Football League is also extremely popular in Canada, which paved the way for NFL betting on legal sites. Like with hockey, Canadians are highly invested in football as a sport, leading to a wide range of choices for NFL wagering. As a result, more and more sites are now adding NFL to their selections for Canadian bettors, even those based in other regions, all at very appealing odds.
This is one of the most popular sports worldwide, not just in Canada. However, it wasn’t that popular among Canadians until the Toronto Raptors won the 2019 NBA Championship – their first championship in franchise history. This historic win helped the game grow in Canada and created a great demand for Canadian NBA betting sites. Nowadays, you can legally bet on NBA matches through various sports betting sites.
Many MLB betting sites accept bettors from Canada. Major League Baseball is the second most profitable sports league globally, with some revenue coming from Canada. There’s a great interest in MLB in Canada, with the only team from the country, the Toronto Blue Jays, a two-time World Series Champion. Another reason why MLB is a big hit in Canada is because Canadians can enjoy year-round betting – it’s the only major sport with a daily schedule throughout the summer months.
Boxing became more famous over the past few years thanks to prominent fights like Mayweather vs. Pacquiao. Currently, boxing is a highly watched sport both in Canada and globally, which is why the demand for boxing betting has only been going up. You can bet on boxing fights on numerous worldwide betting sites.
Horse racing remains one of the most popular sports in the betting industry, especially after finding its audience online. Statistics prove it – this sport generates millions in revenue, with Canada being a major contributor. There will be no legal troubles because betting on horse racing is legal in Canada as long as the website is based outside of the country. If that sounds appealing to you, there are many interesting Canadian horse racing events.
In addition to horses, you can also bet on car racing. NASCAR has been a big name in the betting industry for years and expanded beyond its origins to cover the worldwide market, including Canada. Watching and betting on NASCAR is widely popular and widely available in the country – just look up any major sports betting site to find NASCAR betting.
MLS (Major League Soccer) betting continues to grow in Canada since there are three Canadian teams in the league: Toronto FC, CF Montreal, and Vancouver Whitecaps FC. The involvement of these teams spawned loyal fan bases of committed soccer fans that are curious about betting. The industry picked up this interest, and now, we can see more online sportsbooks that offer MLS.
Betting on this sport isn’t far different from NBA betting. WNBA is considered the premium women’s basketball league that has found its footing in Canada. There are many WNBA fans and bettors from Canada who can find great offers on most betting sites.
Sports Betting Odds
If you’re new to the online sports betting industry, learning about the betting odds is essential. After all, you’ll have to deal with them all the time. Betting odds may vary depending on your chosen site since different sites set their sports betting odds independently.
Sports betting odds indicate when bettors can win and how much they can win. There are three main types of betting odds:
● Decimal Odds
Decimal odds are the most popular type of odds around the world. They’re widely used in Canada, Europe, Australia, and many other countries and markets. Decimal odds have up to two decimal places – for example, 2.1 or 1.85. These types of odds show how much you can win on top of the bet requirement and are easy to understand once you’ve learned what the values indicate.
Let’s say you want to bet $100 on a particular team, and the odds are set at 2.1. This means that you can expect to win $210, which includes your original bet of $100. Calculations are simple: 2.1 x $100 = $210. You can get a profit of $110 from your $100 bet. However, remember that you can claim it only if your wager wins.
● Fractional Odds
Based on a similarly straightforward concept, these are the second most common and widely used sports betting odds. These odds indicate how much a bettor will win from their bet compared to the amount they staked. The numbers in the fractions represent the ratio of how much you can win.
Let’s say you’re betting $10 on the odds of 3/2. If your bet wins, you get $15. This is because 3/2 is equal to a multiplier of 1.5, which turns a $10 bet into a $15 win. One major advantage of fractional odds is that they’re flexible and allow you to clearly assess how much you can win based on how much you place.
● American Odds
American odds, also called moneyline odds, are popular mostly in the US market, but you can also find them on many Canadian bookies. These are based on the concepts of favourites and underdogs in a sports match. Another difference is that they come in whole numbers and with a positive (+) or negative (-) sign.
American odds for favourites indicate how much money you need to risk to win a certain amount. For example, there’s an NBA match, and you bet on the favourite team that has odds of -120. This means you need to bet $120 to win $100. But if you bet on the underdog, the odds will indicate how much you would win if you bet $100. Using the same NBA match as an example, this time, you decided to bet on the underdog team with odds of +113. If your bet wins, you’ll get $113 as profit, so you’ll have a $213 total win, including your initial bet of $100.
Sports Betting Tips – Betting Strategies That Work
Now that you’ve learned some of the most important aspects of sports betting, we’d like to share a few valuable tips to help you in betting. Follow these strategies if you’d like to win more, lose less, and enjoy the overall experience.
- Start by Focusing on One Team
If you’re a newbie, it makes sense if you’re still undecided about your betting strategy and approach. Once you’ve successfully signed up in an online sportsbook, start by focusing only on one sport and one team. This way, you won’t be overwhelmed and have the time to learn about analyzing statistics, historical performances, updates, odds, etc., without risking too much.
As we’ve mentioned, a lack of knowledge about sports or teams is expected from a newbie. That’s why it’s essential to do your homework and learn about the sports you plan on betting on as well as everything associated with its most prominent teams. Thus, you will get a better grasp of how sports betting works for that particular sport.
- Compare Odds
If you plan to have multiple sports betting sites accounts simultaneously, you can follow this tactic. Since you’ll encounter different odds in these various sites, use them to your advantage. Don’t place your bets blindly – instead, compare all of them to find the best odds.
- Manage Your Bankroll
This is an essential tip, both for newbies and professional bettors. You have to be aware of how much capital you can allocate to bets, how much you can place on a single, and what kind of return you expect. This way, you can manage and limit your spending and avoid losing your funds all at once.
- Gamble Responsibly
This is an extension of the previous tips since responsible gambling covers money management and thorough research. Any better needs to have a proper understanding of odds, sports, favourites and underdogs, spending limitations, etc. Responsible betting gives you more control over your wins and losses and prevents compulsive decisions.
- Learn the Odds and Bet Types
This is also part of the research you should be carrying out. As a beginner, you should choose less risky odds like moneyline and appropriate types of bets like a point spread. If you know how they work, you can build high-profit strategies and ensure proper decision-making.
- Check Weather Stats
If you’re already planning your next bet, check the weather forecast before the game. This is because weather changes can affect team performances significantly. Moreover, this is a useful strategy for placing various types of bets like total bets.
- Utilize Sportsbook Bonuses and Promotions
This is an excellent way to build your bankroll. There are many promotions and bonuses that will be offered to you, especially if you’re a new user. Don’t be shy to take advantage of those so you can get more opportunities to win.
- Avoid Excessive Fees
Some sportsbooks charge withdrawal fees, which can be a hassle, especially if you request regular payouts from your account. You can compare and choose a site that doesn’t charge for withdrawals or, at the very least, set affordable fees. You should also keep your accounts in one currency to avoid extra exchange rates for your payments.
- Track Bets
Keep records of all your bets. Once you gain a fair amount of experience, you can look back on them and reflect on your sports betting performance. Also, by tracking your bets, you can see what you’re good and bad at. For example, your records might show that you’re good at predicting which team will win, but the results with overs/unders are lacking. The next time you place a bet, you can limit your over/under bets to limit losses.
How Do Sports Fans Bet Online in Canada? A Step-by-Step Guide
Whether it’s sports betting Canada or wagering on global events, the process is very simple. Follow these steps to open a sportsbook account and start betting:
- Sign Up
Head to your preferred online sports betting site and click “Join,” “Create an Account,” or something along those lines to start.
- Provide Necessary Details
Enter all personal information asked by the site. On most sites, you’d need to provide your name, date of birth, email address, mailing address, and phone number to open an account. You’ll also be asked to type in your preferred username and password for your account. Check if all information you entered is correct and up-to-date to avoid any problems in the next step.
- Complete the Verification Process
There will likely be a required verification procedure before you can activate your account and transfer funds. This step might require you to provide a valid document like passports, driver’s license, etc., to verify your identity and the information you entered earlier.
- Deposit Funds
Choose the deposit method and currency that are suitable for you. Next, enter the amount you wish to transfer to your sportsbook account. On most sites, funds are deposited instantly.
- Choose Your Sports and Bet
Decide which sports and matches you like to bet on, be it NFL, NBA, WNBA, or anything else. Then, locate the type of bet you’d like to place and specify how much. Enter and wait for the results.
What Canadians Need to Become Online Sports Bettors
There are specific requirements you need to fulfill to become a regular online bettor. As a Canadian, you need:
● A bank account, a credit card, or a funded online wallet
● A valid email address and a secure internet connection to create an account
● Be of legal age as regulated by your jurisdiction (most regulators require you to be at least 18 years old)
● Extra cash that you can easily spend after covering your daily expenses
● Knowledge about sports and professional leagues
Common Deposit Options
Depositing online funds to your sportsbook account in Canada is seamless. Since it’s processed online, you avoid the hassle of dealing with a physical betting venue. Here’s a list of the most common deposit methods available on Canadian sports betting sites:
● American Express
● Bank transfers
Learn More About Sports Betting in Canada – FAQ
Yes, sports betting Canada is legal. The federal ban on single-game sports betting was lifted in August 2017, and since then, it’s legal and properly regulated. However, the law requires local Canadian sites to secure Canadian gambling licenses from province regulators to operate.
We mentioned the top choices in the first section of the article above. Just to name a few, Sports Interaction, Betway, 10Bet, Powerplay, and Bodog are among the best.
Yes, there are many sites that support PayPal as a valid payment option. You can deposit and withdraw your funds through PayPal as easily as on any other online store.
Sports betting odds indicate how likely a team can win the match. It also indicates which teams are the favourites and underdogs. This way, you can get an idea of how much money you could make on a bet with a successful outcome.
Start by choosing your preferred site and filling out all required details. Next, complete the verification process and transfer funds to your account. Choose a sport you like, the type of bet, and place your betslip.
The law states that online betting is legal for individual sporting events. However, it also specifies that if you plan to bet on a Canada-based site, you need to check for a valid Canadian gambling license.
No, you don’t need to do that. However, professional bettors might be required to report sports betting as their main source of income.
It’s a bet that’s composed of 26 equal bets across five separate events: 10 doubles, 10 trebles, 5 four-folds, and a five-fold. This is commonly used in horse race betting.
Yes, there is. The DraftKings (DKNG) is one of the most popular betting stocks available for Canadian users, despite being relatively new on the market.
You can bet on sports or leagues like NBA, NHL, NFL, WNBA, and more. In addition to these popular sports, you can also try niche sports that are more popular in other parts of the world.