Sports betting in Canada has never been so popular before. Thanks to the huge number of players and sportsbooks, the betting industry is on the rise.
Take a look to find out how to bet on sports in Canada! Learn all types of sports bets, including the most popular sports you can wager on! And while you’re at it, claim the available free bets!
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And remember the most important rule of gambling is to never wager more than you can afford to lose.
Why Bet on Sports in Canada?
Sports betting covers placing wagers based on guessing the final score of the game. Yet, that is far from your only option. You can bet on the number of corners, throws, goals, points, and everything you can think of.
There are two main reasons why Canadian sports lovers bet on sports – to win and to have fun!
And if you’re a Canadian resident, you get to place wagers at the best online sportsbooks. Sports markets offers include hockey, boxing, football, horse racing, and many other sports.
Types of Sports Bets
The sports betting market is bigger than you can imagine and it is worth billions of dollars. Gamblers get to enjoy a variety of exotic prop bets that are available during the entire year. Get to know the meaning of each and place the bet today! The main betting options that a sports bettor can find for any online sportsbook include:
Futures Bets
Futures bets refer to wagers you can place on sports events. For example, you can bet on the team that you think has more chances to win the championship. These entertaining bets rely on the long-term results. More often than not, final event outcomes settled at the finale of a tournament or season.
Each futures bet has odds, and they show the probability of the outcome. Higher probability means lower risk, but, the potential payout is lighter. When this type of bet has a slimmer winning probability, the higher payout will be higher. Yet, the bigger the odds – the bigger the risks.
Online sports bettors mostly place futures bets on championship results. If you were to place a futures bet, you’d be wagering on the team that you think will win the NFL or the Super Bowl.
These bets are super popular among free-time bettors and loyal sports fans. As a result, they draw tons of wagers at online sportsbooks each season.
Head-to-Head Bets
Head-to-head betting originates from horse racing. The sport belongs to the group of best traditional sports betting types. It symbolizes the spirit of Canadian sports betting, which is why it is a hit among gamblers. This sports betting style includes selecting the winner of a game.
Before you start with head-to-head betting, there are a few stuff you need to know. This betting option offers 2 potential results of the game you plan to bet on – you can choose to bet on a team or a player. Most online sportsbooks provide both options. If you wish to bet on a team, you need to do thorough research on both the betting team and their opponents.
If you choose to bet on a player, you must check their history and see their potential for a victory. This betting option is a favourite because it is one of the simplest – pick your favourite and wager!
Hedge Bets
Hedge betting means placing a bet on the other side of a current bet. Hedge bets’ value differs from a bettor to a bettor – and while some love the thrill of it, others would rather not engage. Players always place a hedge by accessing live betting platforms. Gamblers choose to place a hedge bet to lower the original risk. Another reason is to create new chances to win extra money.
Choosing leading hedge-betting sports is essential for solid winnings. It also includes slimming risk on ongoing wagers when necessary. For example, you know of an injury of the stellar goaltender and that they can’t start the upcoming NHL game. The goaltender’s backup is a new and less-experienced player. If you place a CA$150 wager on the -150 Moneyline star, a CA$200 wager on the +150 underdog odds would lead to a break-even situation on those 2 bets.
Live Bets
Live betting is ongoing or in-game betting. It is a perfect opportunity for gamblers to place extra wagers once the game is on. Sometimes, players can place live bets between periods, quarters, or halves. Some games allow placing bets after every single drive or play too.
To make a live bet that will bring you decent winning, you have to be fast! These bets’ odds change within the minute. If you spot an action that attracts your attention, take it immediately, as you won’t have the chance to do it later. In case you can’t guess how will a player do in a game, live betting might be the right betting choice.
Money Line Bets
A money line bet is the simplest wager in the sports betting world. It is a bet where bettors predict which team will be the winner of the match. It isn’t related to any point spread or conditions. This makes it an easy bet.
In a general sense, a moneyline bet is an outstanding option for sports bettors. They are great for newbies making a debut on a certain betting site.
If you pick a player or a team that wins, you will earn as well. We recommend you do extensive research and choose the right betting site to place these bets. This is the only way to cut losses. You may even be able to claim the free bets promotions and place your first money line bet for free.
Parlay Bets
A parlay bet is a type of wager where players link at least two bets as a single bet, but with a greater payout. For the better prize, all included sections must win. This wager is becoming a hit among professional gamblers. Sportsbooks offer higher payouts for more teams combined into your parlay.
You must be careful because more games mean a lower chance of winning. You can parlay over/under, money lines, point spreads, and more. However, you need to do extensive research!
Creating a parlay will allow you to combine a few lower odds games. That means you can win more than you would if you were to place separate bets. You could also place high odds bets. However, the chances of you winning, in that case, are lower.
Point Spread Bets
Any type of betting over a certain event is a point spread bet. Point spread bets don’t include the final outcome of the game – whether the team will win or lose.
Today, there are about one million bettors who choose point spread bets. This wager type has a variety of outcomes. The trick is to guess whether the result will be below or above the spread.
However, you should know that financial spread betting comes with a high risk. Make sure to be careful when betting and never lose more than you can afford.
Prop or Proposition Bets
A proposition bet, also known as a prop bet, site bet, novelty, or simply prop, is a wager made about the occurrence or non-occurrence of an event. A prop bet does not deal with the final outcome of the match.
Please note that proposition betting in sports doesn’t work the same way as the general or most common bets do. Conventionally, you can make these bets on outcomes, including the number of strikeouts the team will accumulate. You can also do that on the number of points that a pitcher will score in a baseball game. Gamblers can also wager on the parties that will manage to get the total points of the game. You must be careful because the timing may restrict you from betting on certain events.
Puck Line Bets
Puck line bets are hockey’s version of the point spread bets. Pick the team or teams you want to bet on and make a bet if you are sure that your favourite will win the game with at least 2 or more goals.
The creation of the vast majority of hockey betting is around the money line. It means that amateur bettors may easily win by combining large bets and the best teams in the leagues.
For better illustration, let’s see an example: instead of running for laying -250 or -200 on a solid favourite, try laying -1.5 goals with a higher price point. It might be tough to pull the trigger on a +250 underdog that will probably lose their match over 60% of the time.
So, once you learn how to bet on sports, you will see that it is easier to put your funds on them if you can receive a +1.5 goal start.
Round Robin Bets
A popular Round Robin bet includes placing various parlay wagers at the same time. It’s as simple as it sounds. These common bets are a great way to make things easier while playing several parlays at once. When new bettors decide to try Round Robin bets, they find them quite interesting.
Bettors can pick between 3 and 8 teams to bet on or place totals in the Round Robin. Next, they must decide how many teams (or totals) they wish to bond together for a proper Round Robin wager. For instance, a gambler may choose 8 sports teams or totals and bond the parlays to 3-team combinations. The team combination will say how many parlays the gambler has.
If a punter insists on Round Robin 8 sports teams and creates 2-team parlays, they should expect to get 28 different parlays. In case they go for 3-team parlays, they can get 56 parlay tickets which are different.
Straight Bets
Straight bets apply to gaming bets for a single event or game that carries a puck line, run line, money line, and game total or point-spread. These bets’ payouts depend on the available online sportsbook odds. Bettors who have already learned how to bet on sports using these bets enjoy the popular straight bet point spread. Mainly, punters use a point-spread to even off the odds between the opposite sides in an event.
If you want to use these types of bets, there are a few things you need to know. The number one team is handicapped by taking away goals and points (a minus sign), whereas the underdog gets goals or points (a plus sign).
To check if you won your bet or not, you have to find the goal or point difference between the concrete scores of the teams in the game you have chosen. If your wager meets the spread, it means that you won.
Teaser Bets
A teaser is parallel to a typical parlay, and here you can choose various teams. However, note that moneylines aren’t allowed with this type of bet. The teaser bets allow you to move every single point spread or total minus anywhere between 6 and 10 points. This is not possible with parlays. The extra points on the total or spread turn these bets into easy-to-win bets, which is why they come with a lower payout than a typical parlay
The part that makes a traditional parlay and a teaser alike is that the higher number of teams you involve with a teaser, the higher the payoff is. Many sportsbooks come with different rules and odds. It means that they offer various teaser betting options and different payouts, as well.
Total Line Bets (Over/Under)
Total line bets also called over/under, are the number one betting choice for thousands of bettors. This is a super engaging wager. Here, the total in the match is a shared score of both of the playing teams. The oddsmakers set a betting line based on how they predict the game’s end score. You, as a bettor, need to choose whether the number of total points scored during the game is going to be over or under the number.
For instance, let’s imagine that the oddsmakers set 48.5 points. If you believe that the teams will score 49 or more points, you should select over. But, if you expect that the final mutual score will go under 48 points, you should pick the under.
Popular Sports to Place Your Bets On in Canada
Betting on sports makes the event more thrilling and creates a chance for you to win some extra money, too. It is a twin deal, so who would say no to it?
However, you should know that all sports aren’t equally popular for betting. Even though Canada has its own national game, there are other games that Canadians love betting on as well.
We have prepared a list of the most popular sports to place bets on in Canada! If you have a favourite betting site, you can start betting right away. Check the list and visit some of the best sportsbooks to find the greatest deals:
1. Ice hockey
Ice hockey, or lacrosse, is the Canadian national sport and is a game that comes with the highest bets. Lacrosse is a sport rich in joy and excitement, and Canada has already won many medals so far. The fact that you can’t predict the final score makes the game even more exciting. This is why it has a higher wagering rate.
The sports fanatics and bettors always run after high odds. And this outstanding game provides higher odds than the rest. Additionally, the prizes it offers are pretty big, and if luck’s on your side, you may also strike a jackpot. If this sounds like easily earned money – it’s because it really is.
2. Basketball
Basketball is another sport that originates from Canada. It is very popular among sports enthusiasts. What’s more, there are lots of notable Canadian names in the basketball world. So, it isn’t a surprise that the best sportsbooks offer desirable betting odds. Many newbies have started betting on this sport due to its popularity. The not-so-complicated game rules and the NBA’s top-notch players are a reason too.
3. Football
Football is yet another sport that makes betting on sports exciting. Canadian football leagues and tournaments are popular. That means you can place a wager on each of the available events. The more matches you bet on, the more winning opportunities you get. Betting on every league will bring you additional chances to win huge prizes.
4. Mixed Martial Arts (MMA – UFC)
Even though it is a self-defence game, it delivers a lot of pleasure to the crowd. Canadians love watching UFC matches, and they enjoy placing bets on them, too. If you like to bet on mixed material arts matches, find the best sportsbook for your needs and do that. But, if you notice that you aren’t making a decent profit, it may be time to change your current strategy. Try a new way of betting and see what happens next.
5. Tennis
Tennis is a marvellous game, and sports fans love the part that it comes with high payouts for beginners. If you are new to betting, we encourage you to start with tennis matches. Moreover, this game is rather easy to analyze. You don’t have to be a skillful punter; you can only watch the player’s game to predict the winner. Furthermore, you can bet on a single person or do that in doubles (two or team) game.
6. Soccer
Soccer isn’t a Canadian game, but many Canadians love betting on it because of its high betting rate. Canadian residents have shown excellent soccer skills. They have 3 leading soccer teams: Toronto FC, Montreal protocol, and Vancouver Whitecaps.
Plenty of online operators offer excellent betting options. You can enjoy watching the soccer league while winning money with the right wagers.
7. Golf
Canada has cold and white winters. This doesn’t stop Canadians from playing, following and wagering on golf tournaments. Even though it charms more audiences during the summer months, golf is an all-season game. Hence, it ensures high chances for bets at all times.
If you wish to win some extra money, you could try to wager on golf as well. Many virtual betting sites let you win cash via golf tournaments, so there is no reason for you to not try it.
FAQs on Sports Betting for Beginners
Has sports betting always been legal in Canada?
Since August 2021, sports betting has been legal in Canada throughout top-rated sportsbooks. Before this date, Canadians were only allowed to bet on parlays.
What are the most common types of odds?
There are 3 basic types of betting odds: Money line (American) odds, Decimal (European) odds, and fractional (British) odds. The most common formats for Canadians are American and Decimal odds.
Which is better: online or offline sports betting?
It depends on your personality. Most Canadians prefer the online betting option because of the better odds and choices. But if you aren’t an introverted person, give offline betting a chance once or twice a year, too! The journey to a land-based sportsbook is a unique experience and can make your nights out entertaining.
