If you are a sports fan and have always wondered how professional Canadian sports betting is done, then this article is for you. We will try to answer all the basic questions you may have about sports betting and share how professionals use betting strategies to make money.
Bet With a Strategy
If you want to be successful in Canadian sports betting you will need a betting strategy. This is how all the professionals get it right. If you are just betting for fun and do not intend to make money then there is no need for you to create a strategy.
The first thing you need to do is manage your money smartly. Always keep a bankroll or betting money that you can afford to lose over a specified period. Start with something small because for the first few months you will make a few mistakes especially if you have never placed a sports bet before.
The most important step for a Canadian sports betting strategy is to do your research. Never place a sports bet on any sport without first doing your homework on the match, event, fixture or race. Occasionally you may get it right on a hunch but professionals rely on information, not hunches. Always find stats and information from leagues official websites, team websites and social media accounts. With this information analyze it to find the possible outcome. Look at history, trends, form, injury or team news and make sure you have enough information to make an informed bet.
Have access to multiple sports betting websites so you can find the value. Bookmakers offer different odds from each other due to margins, risk or their odds feed provider. Always place your sports bets with the sports betting site that offers more value.
If you have done your research and are confident try to bet as early as possible on match day. The odds tend to change as time gets closer to the start of the match. If you are not confident then watch the odds and follow the money. As money comes in for a specific bet the odds shorten or get smaller. If the odds are shortening then place your bet.
Finally, take your time all Canadian sports betting professionals talk about being patient. It takes time for you to be good at something. Do not bet for just the sake of betting look for the value and if it means waiting then wait as this is how you preserve your bankroll.
Have a separate bank designated for betting
Professional sports bettors always have a well managed bankroll. Pros separate their money from their betting bankroll. Open a separate account and use that for your betting. This allows you to keep track of all your transactions, deposits and your withdrawals of winnings. Never deposit more into your betting bank account stick to your monthly limits. Take the losses as a way for you to take a break from sports betting, go back and refine your betting strategy so that you are ready for when it is time for you to bet again.
Use the 10-30% Rule
On some occasions, you will not always find value so try and look for the guaranteed wins or back the favourite. Stake on average 10-30% of your bankroll on the favourites just to keep winning your sports bets. The 10-30% strategy is good but can also be costly if you lose as you will have to stake a higher than average amount on individual bets so that you can get a return from backing the favourites. Always remember that the short priced odds which are offered by bookmakers for favourites are generally better value compared to the long priced odds which are harder to win.
Hedge your bets
Hedging a bet is a skill that is difficult to learn and is done by some the of best Canadian sports betting professionals. When you hedge your bets you are looking to protect some profits. This requires you to place two bets. Here is an example below that explains how this sports betting strategy works:
- A bettor places their first bet of $100 on the Washington Capitals to win the Stanley Cup at 60/1. Potential win: $6000 + original $100 wager.
- The second bet is the hedge bet: $1,000 wager on Montreal Canadians to win the Stanley Cup at 2/1 Potential win: $3000.
- The best outcome: The Capitals win the Stabley Cup and the bettor wins $6000. The $1000 hedge on the Canadians for safety is a loss. The total win is $5000 instead of $6000
- Hedge win result: The Canadians win and the bettor wins $2000. After everything, the $1000 hedge minus the $100 original wager gives a final win of $900.
- Worst case result: None of the teams’ selected to win and the bettor loses $1100
Do your research
Doing your research is a vital part of a winning sports betting strategy. No matter how good you believe you are when it comes to predicting sports results always start with some research. The very best Canadian sports betting professionals rely on statistics and research to make their sports bets. Always consult; team, events, league or cup official social media accounts and website for updated information. Read blogs and articles from experts that will share more indebt information. Follow journalist or content creators who focus mainly on the sports, league or team that you plan on betting on. Then finally follow some tipsters, social media is full of sports betting tipsters accounts offering free betting tips daily. Combine all this information and you will have a solid sports betting strategy that will help you win.
Develop Realistic expectations of outcomes
The chances of winning a Jackpot equivalent to the Lotto Max from betting on sports is very slim. Yes, you may have a couple of big wins from time to time but the strategy when betting on sports is to not lose money. If you can remain realistic by setting daily/weekly or monthly targets, sticking to your budget and doing your research you will soon be earning money like professional sports bettors
Don’t Chase money with more money
Professional sports bettors never chase bets. Newbies tend to fall into this trap as they try and recover from a loss. A typical example of a newbie chasing a bet usually looks like this:
You place a $500 bet on various Sunday NHL games at 12 pm. Unfortunately, your bets lose. As a result, you then decide to deposit $1000 into your sports betting accounts and bet all of that so that you can not only win back you’re original $500 but also try and make money on top of that. Avoid this chasing you lose more than you recover.
Frequently Asked Questions
Where can I bet on Canadian Sports
If you are looking to find the best Canadian sports betting websites you are at the right place we review only the best sites that offer the best odds, exciting betting markets, bonuses and VIP customer service. You can also bet with:
Where can I find out how to bet on different sports?
Go through some of our previous blogs to learn more about betting on different sports. We update content regularly so this will help you get the most updated information when it comes to betting on sports. If you need more information you can check out covers.com, bettingexperts.com and OBLG.com
Where can I Find different betting strategies?
Visit our blogs on betting strategies, where we cover all major sports. If you are new to Canadian sports betting then you are in luck as we will assist you to learn the does and don’t so that you can become a successful Canadian sport betting pro. If you have read all the blogs on our site and are looking for more information the best place to search is online. Look out for people who write about sports they usually give you some information that you can use for your betting strategy. YouTube has a few examples of how to bet on sports, but remember to always do your research first and make sure what you are reading or watching on YouTube matches your research.
Where can I find more sportsbooks to bet on Canadian Sports?
We review and feature some of the best Canadian sports betting websites. All you have to do is find the one that meets your needs and open an account. Remember that sports betting professionals have multiple betting accounts so that they can find value.
Pros and Cons of Betting like a pro?
- You will be able to manage your money or bankroll more efficiently
- As a pro, you mitigate your risk
- With your professional betting strategy, you will find value
- You will need time and effort to conduct research
- Professionals do this as a living so you can’t be a pro sports bettor and work a full-time job or study
Last Updated on April 19, 2022