Sports Betting in Canada

Modern technology makes sports betting more accessible and convenient than ever. But with the increase of legal sports betting options available, it also becomes challenging to find those that are worth your time.

Every sportsbook offers unique features. In Canada, sports betting has already become popular, with the industry generating millions in revenue.

If you’re a newbie gambler who’s unsure where to start, you’re on the right page. We’ve reviewed great sportsbooks you can try, along with the benefits and tips you need for a head start in your wagering journey.

Best Canadian Betting Sites

Countless sports betting sites are available for Canadian bettors. To cut your list short, here are some of the best Canadian sites you should prioritize while choosing.

Single Game Betting in Canada

The passage of Bill C-218 on August 27, 2021, made single-event sports betting legal in Canada. It was also the starting point of the betting industry’s growth in the country as it opened possibilities for more online sportsbooks.

According to the Media Technology Monitor (MTM), up to 77% of Canadians follow professional and major sports, while over 39% follow amateur sports and competitions. Moreover, at least 30% of Canadians watch sports daily, showing that sports betting has massive support in the country.

Before, Canadian sports bettors were only allowed to make parlay bets, where they had to correctly predict the outcome from at least two events. But with single-event betting, they can now focus on predicting the outcome of only one sporting event if they want.

Although the Bill has been passed, it’s still up to the provinces to specifically legalize single betting in their territory. This is because the authorities in each province will be responsible for the regulation and management of single betting. They have the power to develop their own rules around single-game betting, and operators must apply for licenses separately in each jurisdiction. In this regard, as a beginner, you must ensure that single betting is allowed in your province.

Competitive Odds

Odds are one of the major factors to consider when reviewing and choosing the best Canadian sports betting sites. Competitive odds are used to determine which bets are worth the risk.

There are three main types of betting odds:

● Fractional Odds – Odds come in fractions like 5/2 and show the ratio of the amount won to the bet. For example, if you bet $10 with 5/2 odds, you’ll win $25 plus your initial bet of $10.

● American (Moneyline) Odds – This works under a plus/minus sign system. These signs indicate which team is the favorite and which is the underdog. Betting lines with the negative or minus sign (-) are for the favorites and indicate how much you need to bet to win $100. The plus sign (+) is for underdogs and shows how much you can win for every $100 bet.

● Decimal Odds – These are values with decimals like 1.52. It’s the most popular out of the three since the decimal already indicates your total winnings in case you win. For example, if you bet $1 with odds of 1.52, you can get a total winning of $1.52 by directly multiplying them.

Competitive odds vary from one sportsbook to another. This also applies to every sport and betting type. For example, odds for football are different from hockey. Additionally, the odds in football and hockey vary for every type of bet available: point spread, over/under, etc. Additionally, if the odds for a favorite are at 2.54 on Site A, Site B can be at 2.35. In this scenario, Site A is more competitive.

There are several reasons behind the different odds for different sites:

1. Commission and Fees – Each site has its own revenue target, cost structure, and even debt load to consider when deciding its commissions and fees. Even popular and high-ranked sites can have higher commissions and fees they take from the bets and payouts that you make.
2. Line Shifting – Delayed line shifting can greatly affect the odds both for in-play and pre-match events. When something happens during a match, such as when a player gets injured, bettors will take this fact into consideration. Fast bookmakers will quickly shift their lines accordingly, while slow ones will have delayed shifts resulting in different odds.
3. Competition – The most obvious reason, especially for very high-profile events. Since all the best sportsbooks want to draw the interest of fans and bettors into their sites, they try to undercut each other, offering lower odds than the others.
4. Balance Markets – Bookmakers want to balance the amounts of bets they get from the markets they offer. For instance, they can offer irresistible odds for markets where they need more bets.

Bonuses, Free Bets, and Promotions

Aside from the betting odds, bettors should look for other benefits they can get from a sportsbook. There are many bonuses offered by sports betting sites in Canada, including:

● Welcome Bonus – The most common bonus and most exciting one for new Canadian bettors. Betting sites will usually offer new users a 100% welcome bonus when they make their first-ever deposit.

● Parlay Bonus – A famous bonus in Canada originating from parlay bets before single betting was legalized. Parlay bonuses are based on percentages of your winnings and depend on the selections you made in your original bet. This helps bettors increase their overall profit when winning parlay bets.

● Cashback Bonus – A portion of your losses is returned at the end of every week with a cashback bonus. It usually factors in the total loss you incurred for a period of time. Remember that not every sportsbook offers this bonus.

● Free Bets – Popular and reputable online betting sites in Canada offer free bets as rewards to their members for simply qualifying and adhering to the T&Cs of the offer.

● Reload Bonus – It works like a welcome bonus but isn’t as grand as one. Existing users are offered this bonus to add funds even after their initial deposit.

● Loyalty Bonus – A special bonus given to loyal members of a sportsbook. Sites use this to retain their existing bettors and encourage them to continue betting on their site. This bonus is usually based on a loyalty program that uses a point system.

How to Choose the Sports Betting Site That’s Right for You

Above all, bettors should prioritize the overall quality of an online sportsbook – specifically, you should focus on the features and accountability of the site. Plus, the right site is just easy and fun to use. However, you can have a hard time deciding since there are hundreds of sites competing to win your attention. So, here are factors you must consider when choosing a site that suits you best:

Types of Bets and Odds

First, look at the odds offered on the site since they greatly affect how much you can possibly win in a bet. Compare and weigh the odds across other online sites. Then, choose the one with the most competitive and the best odds.

Additionally, check what types of bets the site is offering. Generally, the best betting sites should offer point spreads, live betting, prop bets, parlays, moneylines, and totals bets. More bet types provide more ways of betting and winning.

Payment Options

It should be easy to make deposits and withdrawals. This is one of the key considerations when choosing which site is best so that you won’t have any problems regarding your funds. Before joining a betting site, ensure that your preferred method is included in their list of accepted methods.

Most sites have the following payment, deposit, and withdrawal options:

● Bank transfers

● Debit and credit cards (Visa and MasterCard)

● E-wallet transfers like Skrill, Interac, Neteller, and PayPal

● Crypto wallet transfers

Aside from the options, it’s also important that you can quickly get funds in and out of your betting account. Generally, the withdrawal processing period depends on the payout option you choose. For example, bank transfers can take up to five business days, sometimes more, while e-wallet transfers can take only up to one day.

However, you still need to be vigilant with interacting with sketchy sites. In case you have doubts about a site, you can try and look for any available sportsbook review sources from past and current members. Some sites fail to give members their winnings, while some will delay the payouts for a long time before finally releasing and transferring the funds. Remember that good websites will always pay properly and within a reasonable period regardless of the payment method you choose. The sites we recommended above take pride in their fast payouts, so you don’t need to worry.

Market/Betting Options

This is a simple yet very important consideration. The best sports betting sites offer all major sports leagues like NFL, NBA, NHL, MLB, WNB, college football and basketball, and other sports like tennis, cricket, table tennis, soccer, boxing, volleyball, badminton, motorsports, rugby, and more.

If you’re interested in online gaming, top-ranked sites allow betting on various eSports games like League of Legends, Counter-Strike: GO, DOTA 2, PUBG, and more. It’s convenient and efficient to be able to bet on all your favorite sports and games in just one place.

Safety and Security

A critical part of any site you consider joining is how they value their users’ safety and security. Although a site can be legitimate, it can still defraud or scam its users. Moreover, there are many sites that don’t take the need for proper security seriously. So, it’s in your hands to make sure that the site is fully licensed and authorized to operate under an official gaming commission authority like Malta or a similar regulator.

Aside from this, you can also check if the site runs on an SSL encrypted connection to ensure that all data and financial transactions made on the site are safe. Having good account security measures like two-factor authentications also helps in protecting your account to avoid hacks and leaks.

Customer Service

There’s always a chance that you may encounter a problem while on the site. A good site offers reliable customer service support that is easy to reach. This may be in the form of 24/7 live chat support, email, or a hotline you can contact in case of any concern. You should also check the speed of their response and how helpful their actual replies are.

Bonuses and Promos

Bonuses and promos exist to encourage bettors to keep on playing if they are enjoying the site’s features. A site that gives out many bonuses and promos aims for user retention through participation and member satisfaction. Choose a site that offers exciting promotions like a welcome bonus, free bets, reload bonus, and a loyalty program.

Mobile Experience

If you’re a player on the go, a sportsbook with a mobile application should accommodate your lifestyle. Check if the site has a mobile version or if they have any downloadable apps you can install and use.

How to Open a Betting Account in Canada (A Step-by-Step Guide)

Are you ready to start your betting journey? Start by creating your account. Here are detailed steps on how you can open a Canadian sportsbooks account on your preferred betting site:

Step 1: Sign Up

Find the “Join” or “Register” button on your chosen sports betting site. This is usually located at the top right part of the screen.

Step 2: Enter Personal Details

Next, enter all necessary details on the form you’ll be asked to fill out. Most sites require new users to enter their name, date of birth, phone number, email address, and mailing address. You’ll also be asked to set up your preferred username and password, and sometimes a four security code for verification that also doubles for customer support purposes.

Make sure that all information you provide is correct and updated. If not, you’ll have trouble verifying your account details, and it may hinder your withdrawal process in the future.

Step 3: Choose a Deposit Method

Choose your preferred deposit method. As mentioned, sites may offer you several options, including Visa, MasterCard, Skrill, PayPal, etc. Choose the one that’s most comfortable and convenient for you.

Step 4: Deposit Funds

After choosing the payment method, make your first deposit. Ensure that the deposit is within the limit and at least equal to the minimum deposit required. Since you’re a new user, you can take advantage of a welcome bonus and make a larger deposit.

Step 5: Complete the Verification Process

Provide the necessary and valid ID documents like passports or driving licenses. Make sure to complete this process first since you won’t be able to withdraw your funds if you fail to verify your identity.

Step 6. Make a Bet

After everything, you can now place your first bet. Choose which sports you’d like to place a bet on and check the odds of your selection. Enter the amount you’d like to wager and place your bet.

FAQ About Sports Betting Sites in Canada