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 was already happening amongst the natives. People wagered on the winner of running events, archery, spear throwing, snowshoe, canoe races and toboggan.
Things have changed when betting, except horse racing betting was banned in Canada in 1892. Over the following decades, more exceptions were made, and they legalized more events where betting was legal. In 1969 provinces were allowed by the government to run their own lotteries.
Over the following year, betting became widely popular and accepted by the community and led to more establishments opening their doors to provide betting for Canadian punters.
With the appearance of online casinos
betting became more available than ever. It's convenient and private, and it fits all budgets
You can bet on the horses at the races or in any of the online betting sites
Online Sports Betting in Canada
Sports betting is easy to understand, and you can get started very easily, but you will soon realize you need more time to become very good at it. Sports betting is a combination of luck and requires quite a lot of knowledge about the sports you are starting to bet on. With time, you will learn the bet types and the odds and develop your own proven strategy to win with your betting.
Types of Online Sports Betting
Online sport betting sites will offer multiple betting options. Not all Canadian casinos
will offer all of these, and you might need to do a little research to find a casino which offers the type of bets you are after.
- Daily fantasy sports
DFS is one of the newcomers in the online sports betting market. In daily fantasy, players enter a league for a fixed fee and win from a prize pool by competing against each other by building their teams from their favourite athletes and getting points after their performance. Originally fantasy sport was created for NFL, based on fantasy leagues. Still, now you can play it on all major sports, including the NHL, MLB or any of the big European soccer leagues like the Premier League or La Liga. While fantasy sports requires some luck, you need to have a good knowledge of the sport to win from the prize pool, which sometimes reaches a million dollar.
You can bet on NFL, CFL or NCAA football games at every sportsbook website
- Spread betting
Spread betting or line betting works differently from traditional sports betting where you just bet on the outcome. Since not all teams are equally strong, sportsbook operators create a point spread, so both teams have an almost chance of winning the game. This way, punters will be interested in betting on both outcomes. The favourite will need to win by the point spread offered; this will be listed with a (-). If you placed a bet on the underdog, you would win your bet if the team wins or loses with fewer points than the point spread marked with (+).
Example: In the NFL, -3 spread means that the favourite must win by more than a field goal. A three-point win will result in a refund. Betting on a spread of +3 means that the underdog must win or lose by less than 3 points to bag some winnings. A three-point loss will result in a refund.
- Exchange betting
A betting exchange allows players to bet against each other rather than the bookmaker. Customers can offer odds to or request odds from fellow bettors. To win on a betting exchange, you will need to understand market movers and know when to sell bets, lay bets, and cash out. Overall, betting exchanges can offer much better odds and gives you flexibility.
- Proposition betting
Proposition betting or "prop bets" is a type of bet where you place a bet on a player's performance rather than the team's. It originally started with prop bets on the Super Bowl in Vegas, but now you can place prop bets on most games. The most popular props for the NFL are player props like touchdown passes, rushing yards, receptions, interceptions. You can also bet on exotic prop bets like how long the anthem will be on the Super Bowl or who will be the next James Bond.
- If betting
An if bet is a combination of two or more bets, where the result of each bet decides if the subsequent wagers are actually placed.
If your bet on the first selection is lost, the rest of the bets are cancelled.
- In-Play Betting
With in-play betting or live betting, you can bet on a game while it unfolds. You can place bets on the results, the next score and plenty of other markets. Live betting is the perfect option for a long football game where the momentum changes and you want to place new bets or fast games like tennis or hockey where the scores change so quickly you want to bet on who wins the next set period.
Popular Canadian betting sports
Sports betting in the past was more limited, but luckily now, you can bet on every sport you can think of. With so many sports and betting options, it is hard to list it all, but here are some of the most popular sports Canadian players enjoy betting on:
Betting on football
In Canada, betting on the NFL, the CFL, or NCAA football is very popular. Usually, there are more bet types available for NFL, and online betting sites will allow you to place bets on the Draft, pre-season bets, winner of the divisions and conferences and, of course, the Super Bowl. On most matches, you will have the possibility to bet on the outright, winner of each quarter and individual player performances like rushing yards, passing yards and catches.
You can place your golf bets before the tournament or bet live while the action unfolds!
Betting on golf
Betting on golf makes every Masters, PGA tour, our European tour day even more exciting. The great thing about golf betting is that you can start placing tournament bets or future bets days before the event begins and get great odds on who will win the tournament. You can place odds for each day, and you can bet live as well if you feel Fortuna is siding with someone you didn't think of when the day began. One of the fun bet types you can choose in golf is head to head
, where you can select any two golfers and decide which one will do better.
Betting on boxing and UFC
Boxing is living its renaissance now, so boxing betting and the increasingly popular UFC betting
gives you some very exciting betting options. Many bookies are running amazing promotions on fight nights
, so always make sure to check out what they have on offer if you are looking for a deal. And with champions in a place like Anthony Joshua, Tyson Fury, Canelo, Chris Eubank JR, Lomachenko or Manny Pacquiao, we can expect quite a few great matches next few years.
Horse race betting
Betting on horses has been around forever. There is something about going to the races and placing a few bets on the horses. Horse racing betting is difficult to master and often difficult to predict. Horse racing is exciting regardless if you rely on your luck and pick horses by their names or spend time browsing through racing magazines for forms and reliable tips. In racing, you can bet on the winner or the place
, which will pay less money, but you can win just by your selected rider getting a position determined in the place terms. Companies usually pay for 3rd to 6th places, depending on how big a racecard is.
How does odds work?
In sports betting, odds are normally presented in three formats, fractional (British), decimal (European) and Moneyline (American). Once you understand how they work, you can decide which one you prefer, and most websites will let you adjust your settings to whichever you like.
Fractional odds are a traditional way of displaying odds, but it might be more complicated to calculate your return on a bet than with decimal odds. A fractional listing of 5/1 (five-to-one) odds would mean that you win $5 against every $1 you wager (in addition to receiving your dollar back, i.e. $1 – the amount you wagered). Therefore, if you stake $10 at 5/1, you get a total payout of $60 ($50 profit + $10 stake).
You calculate the payout in the following way: [ Stake x (numerator/denominator) ] + Stake
Example: The Toronto Maple Leafs is 10/11 to win their match. That means that you win $10 against every $11 wagered, so your winnings would be [$10 x (10/11)]+$10= $19.091
Decimal odds are popular in Europe, Australia, New Zealand and Canada as well. Decimal odds sometimes are a little easier to calculate, you can easily spot the favourites and underdogs, and your stake is included in the decimal number. You just need to do a simple calculation: Stake x Decimal odds.
Example: the New England Patriots is a clear favourite to beat the New York Giants @ 1.42, so if you place a bet on them for $10, your winning will be $10 x 1.42= $14.20
Money line odds
Money line odds or American odds might be the most difficult ones to understand. The odds for favourites are accompanied by a minus (-) sign, indicating the amount you need to stake to win $100. Meanwhile, the odds for underdogs are accompanied by a positive (+) sign, indicating the amount won for every $100 staked.
Las Vegas Raider: +200
New England Patriots: -245
The bookmaker has offered odds of +200 for the Raiders, which means they are the underdogs. You need to put $100 on the Raiders to win $200. If they win, you get your stake and winning, bagging $300. If you bet on the Patriots, you'd need to bet $245 to win $100. If they win, you take home you $345.
What about the regulation?
Under Canadian law, gamblers who win on sports betting 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.