But where did it start for Canadians?
We'll begin with a brief history of sports betting in Canada
; Before the Europeans set foot in Canada, betting on sports activities' outcomes was already a widespread activity. Back then, people wagered on running events, archery, spear throwing, snowshoe, canoe races and toboggan. The bet as it is today was a wager in favor of whoever the person betting thought would win.
However, things changed when betting, in any form (except horse race betting), was banned in Canada. That was in 1892. Over the following decades, the exceptions were increased and more sports and events were added to the roster of legalized forms of gambling. In 1969, provinces were allowed by the government to run their own lotteries.
Over the following year, the expected payouts and the prevalence of sports made this form of gambling popular and widely acceptable. This, in turn, led to the establishment of numerous centers around Canada where gamblers could bet on sports
Today, the advent of technology has brought gambling on sports outcomes closer to everyone. Gambling centers have evolved from the traditional brick and mortar facilities to online portals. Even casinos that have physical locations have ventured into the online space.
Besides, today, everyone wants the convenience and privacy afforded by online betting. And the possibility of playing online has been enhanced further by the widespread use of smartphones.
Online Sports Betting in Canada
This form of gambling is easy to understand even for a novice. However, when you take it online, it becomes a little more complicated. A good start for a novice would be to identify a sport that you would like to bet on. While there are people who rely on pure luck to win, most gamblers have strategies they believe in.
After identifying a sport of choice, the next step is to identify a team or a game to bet on. From there on, betting is at your own prerogative although it is advisable that you familiarize yourself with the site you choose. However, before that, let us look at the different types of online sports betting.
Types of Online Sports Betting
Another popular name for this form of gambling is live betting. From choosing the platform to the type of betting to pursue, the industry has something for everyone. The different types include:
- Fantasy Betting – a fairly new type of, fantasy sports betting allow players to form their own teams with their favorite players. The team then competes with other opponent teams. You win if your team is victorious at the end of the sport.
- Spread Betting – this is where things get tricky. Unlike the other forms where players bet on a single outcome, in sports betting, the wager is on a different outcome. An example is where a player has to bet on the team that will win, the number of goals that will be scored, and when those goals will be scored.
- Exchange Betting – in this form of betting, a player is at liberty to settle at the house odds or to set their own odds.
- Proposition Betting – this type of betting calls for precision. In proposition betting, the gambler has to get the number of goals or points right for them to win. If the outcome and the gamblers predictions do not tally, then the gambler loses.
- If Betting – this is a chain of bets where outcomes inform the next cause of action depending on a predefined procedure. If one bet conforms to expectations, then the next bet is activated and so on.
- In-Play Betting - with in-play betting, players bet on the outcome in terms of goals scored and when they will be scored as the game goes on.
Popular Canadian Betting Sports
Not so long ago, the number of sports that gamblers would bet on was limited. Usually, only rugby, football, and basketball were widely accepted as sports you could bet on. The popularity of betting coupled with the ability to bet online has increased the scope significantly to offer more sports. Some popular sports are:
Soccer and Football
Canadians, like Americans, bet on two forms of football namely American football and soccer. The similarity between the two is that the possible bets mostly wager on the outcome at the end of the match. However, some online betting sites allow wagering on half time scores while in some instances, players can also bet on the number of goals scored by each team or in total.
Golf betting is straight forward as it presents only three possible types of bets. In golf betting, players can only wager on hole-in-one bets, tournament bets – which are long term in some instances – and specific player bets. The wagers here are independent of each other and you only win if the specific predicted outcome comes to fruition.
The unpredictability of boxing makes the sport one of the most thrilling. Seemingly, a majority of boxing matches have an undeniable underdog even before the match begins. The thrill comes from the fact that often, tables turn and the underdog emerges as the winner. Because of the volatile nature of the sport and outcomes, betting on boxing becomes that much more exhilarating.
Horse Race Betting
Betting on horses sits atop the list of betting oldies. For ages, Canadians have bet on numerous horse races and just like boxing, horse race betting is also one of the most unpredictable. The intensity and thrill of horse race betting are heightened by the proximity of racers at the end of the race. Often, the time difference between the winning horse and the runners up is mere seconds.
How does odds work?
In sports betting, odds are normally presented in two formats – decimals or fractions. In Canada, sports bets are commonly presented as fractions. Canada also borrows from America’s odds betting system. Based on money line betting, the bets are normally expressed using a + or – symbol.
When an odd is accompanied by a + symbol, that odd represents the potential payment to the gambler if their predicted outcome is true. The odds accompanied by a – symbol, on the other hand, represents the amount that the gambler needs to stake to stand a chance of winning.
What about regulation?
For a site to be allowed to offer betting services in Canada, they need the authorization of the provincial Gaming Commissions. The authorization is required for any betting site to operate including brick and mortar casinos, race tracks and online casinos.
Additionally, all Canadian betting sites fall under a gaming corporation and depending on its location. Each province has a corporation. Some of these gaming corporations include BC: Lottery Corporation, Manitoba Lottery Corporation, Alberta Gaming and Liquor Commission and Loto-Quebec.
Others are Western Canada Lottery Corporation which covers Alberta, The Yukon and Northwest Territories, and Nunavut. Another of the bigger corporations is the Atlantic Lottery Corporation. This covers gambling sites in New Foundland, Prince Edward Island, Nova Scotia, New Brunswick, and Labrador.
Under Canadian law, gamblers whose sports bets win are not required to pay any taxes. However, the requirement that people whose primary source of income is gambling declare their income makes this a grey area.