How To Bet On Sports: Sports Betting Tips
Sports betting has gained much popularity among Canadians following its complete liberalization in 2021. As expected, beginners in any game desire to learn the basics. For example, where to bet, what are odds for sports bet and many more. However, we shall take it step by step and outline the basics, identify the best Canadian sports betting sites, and mention the simplest games to bet on.
Bet Meaning: How Does Sports Betting Work?
Sport betting is just as enjoyable as it can be profitable. It is just like placing a bet on an event and winning money if you predicted right. In spite of simplicity of this, sports betting for beginners involves having elementary know-how about gambling in numerous respects. The starting point is made by two simple concepts that must be understood: odds and favorites.
How to Read Sports Betting Odds
Odds are the basics of sports betting, as they tell users how much money they’ll make if their wager is successful. They are decided depending on the chances of something happening. The higher the probability, the smaller the win, and vice versa. Note that not all websites have the same odds.
Favorites and Underdogs
Canadian sports bettors are always presented with a favorite and an underdog in each betting line. The former has a negative number, whereas the latter gets a positive one. These numbers are linked with the concept of odds with the favored leading to smaller wins since a lower risk is involved.
For instance, in case the favored Team A has odds of -150, bettors have to wager C$150 to win C$100 in return. Conversely, the underdog Team B shows odds of +150, which means you’ll win C$150 for betting C$100.
Best Sports Betting Sites in Canada
With online sports betting gaining popularity, it’s not necessary to walk into a physical bookmaker anymore. You just need to browse the top sports betting sites in Canada to initiate wagering. To help out, we’ve listed the best platforms for Canadian players.
A sports betting site with countless satisfied customers, 20Bet stands atop the list. Its licenses from Kahnawake and Curacao confirm its legitimacy, while its catalog of over 5000 casino games has granted it global acceptance. Betting on sporting activities of all kinds is also possible here, and new users stand to receive C$180 as a 100% match bonus. This incentive enables them to wager without much stress.
- Vast catalog of sports
- Good withdrawal limits
- Respected name in the betting world
- Welcome bonus not too high
- Live chat available in limited languages
Created in 2017, 22Bet is among the best legal online sports betting sites for Canadian bettors. You could literally find all sorts of sports to bet on and be welcomed with a C$300 match bonus of 100% as a new player. Loyal customers enjoy ongoing promos, making gambling easy when you find a game to bet on. Finally, the site is regulated by Kahnawake and Curacao and offers multiple secure payment methods, making it a leading platform.
- Thousands of daily live activities
- Stable mobile app
- Loyalty promos for regulars
- Lack of phone support
- A slightly unintuitive site
Even though Snatch Casino is very fresh in the online betting world, it has garnered a massive user base. From video games to live betting, everything is available. There are 8000+ games to try when you’re tired of betting sports, so you won’t be bored. The welcome bonus of 450% inspires a higher win percentage, resulting from a maximum of C$9,000 up for grabs. That is much higher than other Canadian sport betting sites.
- Massive welcome package
- Reliable customer service
- Good variety of payment options
- Withdrawals only work during working hours
- Lack of updated responsible gambling tools
PariMatch is popular in Europe and also supports Canadian bettors. It was established in 2019 and holds a license from Curacao. Other than a wide array of casino games, it has sports markets for fans of basketball, hockey, etc. The site has a healthy initial bonus offer too. Newbies may potentially earn C$3,000 when they deposit, giving them enough to play with.
- Easy and non-intrusive registration
- Live chat and email for support
- Very good starting bonus
- Site design not up to par
- Lack of some payment options
This 2021 site has progressed a lot in just two years. Licensed by Curacao and supported in multiple languages, this legal sports betting platform caters to an international audience. It also makes payments easier and offers solid customer service. Sportaza’s 100% bonus grants up to C$750 alongside 200 spins. That’s a good way to familiarize oneself with gambling.
- Over 15 bonuses
- Secure banking options
- 24/7 live chat support
- A number of restricted countries
- Below-par responsible gambling tools
Best Sports to Bet on
More and more games are added by bookmakers to their lists. However, some brave the test of time in the Canadian sports betting industry. If you’re looking for the best sport to bet on, check the list below.
▪️ NBA – The premiere basketball event in America, the NBA is an absolute must for most bettors. It’s not the easiest sport to bet on because of its variables.
▪️ Baseball – A primarily American game, baseball offers a ton of lucrative bets on teams, players, and a lot more.
▪️ Basketball – Just because the NBA is American doesn’t mean basketball isn’t played around the world. The EuroLeague is especially interesting.
▪️ Boxing – This is an adrenaline-filled activity that receives global viewership. It offers an exciting gambling potential thanks to its plentiful aspects.
▪️ Cricket – Cricket is huge in parts of the world, especially in South Asia. The rivalries of Pakistan, India, England, and Australia make for great betting potential.
▪️ Football – Betting on football is perhaps most common among US and Canadian citizens. Whether NFL bets or college football betting, a lot goes into placing the right wagers.
▪️ Golf – A rather muted option in terms of spectacle, the precision, skill, and luck that golf consists of lead to an interesting experience.
▪️ Hockey – Hockey betting is well-loved in Canada. Many games take place year-round, generating plenty of wagers.
▪️ Horse Racing – One of the oldest types of wagering, horse betting is still popular and offers huge margins if you get lucky.
▪️ MMA – This is another high-intensity activity offering good odds. A number of betting sites let users put their money on fights inside the Octagon.
▪️ Soccer – One of the biggest sports globally, soccer boasts massive betting potential. With a plethora of international leagues, it is hard not to bet on soccer.
▪️ Tennis – Although not considered a usual betting contender, tennis gambling is quite popular in Canada.
Types of Sports Bets
Before you start betting on sports in Canada, it is pertinent to know what different types of wagers mean.
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Point Spread
A point spread is when a handicap is given to the favored team or opponent. For example, the Eagles have odds of -4.5, while the Lions have +4.5. The Eagles need to beat by at least 5 points to win the bet.
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Moneyline
Moneyline betting is a good alternative. These are easy bets because you just need to pick the winner. The financial potential of such wagers is hidden in the numbers assigned to each team.
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Futures
A futures wager is placed on the outcome of a whole season. This relates mostly to situations that are going to arise after some time. Examples include predicting the tournament winner or deciding the MVP.
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Parlays
Parlay is a combination of several bets into one super bet. The upside of it is the massive wins. The downside, however, is that nothing is won if even one of the wagers is lost. So, always be sure of what you’re putting your money on when forming a parlay.
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Prop Bets
These could be made throughout any sporting season. You predict certain game aspects, like who will score first or the duration of extra time. Prop bets do require some experience with the game in question, so they’re not ideal for beginners.
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Totals (Over/Under)
In totals, bettors predict if a game’s final points will be higher or lower than the specified number. This doesn’t have anything to do with winners and losers. In a soccer match with a total set at 5, you predict the number of goals being Over or Under 5.
Tax on Sports Betting in Canada
One of the major reasons why live betting is growing in Canada is because there’s no tax. The Income Tax Act states in Paragraph 40 (2)(F) that whatever money you make from wagering is all yours. No tax is applied to it for Canadians.
Sports Betting Regulation in Canada
Wagering laws and regulations protect people against unwarranted consequences. Nobody wants to be scammed by platforms that promise big returns and end up disappearing with your money. Also, you wouldn’t wish to have any participation in anything that is illegal enough to send you to prison. Thus, we need to establish if sports betting is legal in Canada. On the other hand, they come as such, therefore the positive side. In fact, since 2021, betting has been legalized in the country, and people are gambling on with security.
Provincial Regulation
The country has its own guidelines in different provinces. Ensure you take time to check the gambling laws that are released in your province. Gambling is legal in most parts of a country but one needs to know that in some localities, some things are not allowed.
Tips for Sports Betting
Here are some excellent strategies and tips for responsible gambling in order to win more.
- Manage Your Bankroll. Impulsive betting is the fastest way to lose yours. Do not allow it to happen. Rather, deduct a negligible portion of your bankroll for every bet. However, keep to these limits otherwise your money will be safe and will increase over time.
- Research Over Feelings. The more you research, the more profitable your outcomes are. If you continue wagering based on your gut feeling or the team you support, you could end up losing. Follow betting trends, assess team performances, and keep track of injuries. Remember that the easiest sport to bet on is the one you understand most.
- Compare Odds. Don’t ever settle for odds by just one sportsbook. Look at other options, see what they’re offering, and find the best value for money. Your overall profit might grow manifold by doing this.
- Track Results. Note down the outcomes of your wagers and analyze where you went wrong. Try different bets, including live betting, and see which ones are better. You will soon begin noticing patterns that could be improved for greater outcomes.
FAQ
What is sports betting?
This involves wagering real money on incidents taking place in sporting events. If your predictions come true, you win a healthy return on your bet.
Can I legally bet on sports in Canada?
Yes, the country legalized it a couple of years ago and even waived taxes on the winnings.
Where can you bet on sports in Canada?
There are a multitude of online platforms bringing the excitement of wagering to your homes. Browse our list and find one that looks fit for your needs.
How to win in sports betting?
Researching trends, past performances, home/away advantage, and player injuries are all good ways to make better bets that increase your wins.
Can I bet on sports from my smartphone?
Yes, the sites mentioned in our guide operate on smartphones. Some even have dedicated apps to download.