Best Sports Betting Sites Canada 2023
Sports Betting is a pastime activity that many people all around the world love and enjoy. Canada is no exception. This activity fuses the love of sports with the interest to support your favourite teams while making money. Fortunately, you don’t have to search for sports betting sites or sportsbooks because we have some of the best listed right here for you.
If you are new to the world of sports betting, continue reading our guide for more information on the various sporting events, and where to place your bets.
- Most Popular Sport Leagues in Canada
- How to Bet on Sports
- Sports Betting Odds
- Bonuses at Canadian Sports Betting Sites
Online Sports Betting for Real Money
Choosing the Best Sports Betting Site
You have a lot of options, but we advise you to be careful of which ones you do sign up with. This is because not all of them are regulated and safe. So, it is in your best interest to always investigate the chosen sportsbook before depositing money. Fortunately, there are sites like CanCasinos.ca to offer you all the information you need about online sports betting.
When we decide on which sites to include, we consider the variety of sporting events the site offers, how reliable the site is based on customer feedback, as well as whether or not the site offers trusted banking methods.
Top 5 Sports Betting Sites
We certainly provide many sportsbook options, and if you are new, then selecting just one can be a difficult decision to make. Now, although we fully recommend all the sites we list, we have hand-picked just a few to make that decision easier for you. Below we have 5 of the best sports betting websites for you to choose from.
Furthermore, these sportsbooks aren’t only great sites, but they also offer the best sports betting apps Canada. You are able to download the sports betting app directly from the sports betting site, or from the Google Play / Apple Stores. They cost nothing to download and offer an easily accessible alternative to sports betting websites. All you need is a smartphone device to download the app.
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If you find yourself indecisive about the sports betting app to download, fear not. To make that decision easier we’ve listed a few points to consider to ensure you download an app that’ll offer you the best possible experience.
- The app must be compatible with most operating systems that include Android, iOS and Windows.
- You must have access to the same quality betting services offered to desktop players.
- The app menu and overall layout must be clean and easy to navigate
- You must be able to open the app without problems or delays
- You should be able to play for real money, and there should be a good number of banking options.
Sport is one of those things that can bring people together, but it can also cause massive division and that’s because people have different interests. This is not necessarily a bad thing, though. Some might enjoy football, while others enjoy hockey or cricket.
Out of the many sporting events that exist today, there are major sports leagues that include the more popular sporting events. Depending on what your interests are and what you enjoy watching, you can choose any of the major sports leagues to place wagers on. This process is made easy at sportsbook casinos.
Here are some of the sports betting options available to you at online sportsbooks:
National Hockey League (NHL) Betting
Canada is a nation of hockey followers. Whenever the National Hockey League is underway be sure to watch your favourite teams play and make the best possible predictions to stand a chance of winning.
Canadian Football League (CFL) Betting
The CFL is the ultimate football league in Canada with nine teams from around the country taking part. You can wager money on any of the teams when the football season starts. Be sure to do some research first. It also helps to get clued up on sports betting odds and payouts beforehand.
National Basketball Association (NBA) Betting
The NBA is widely known all over the world especially for producing some of the best basketball athletes like Michael Jordan. This is one of the best games to watch courtside, but if that’s not an option, you can stream it online, or get point updates at your favourite online sportsbook.
Major League Baseball (MBL) Betting
MBL is one of the oldest sporting associations in the US and Canada. Even though it might not be as popular as the others mentioned above, it still does have a large following. You can choose from the 30 teams that are part of this league and wager on any of them.
Alternative Sports Events
Apart from the leagues mentioned above, there is also various other sports that Canadian bettors can wager their money on. These include:
- Motor Sports
- Horse Racing
You have so many betting options when it comes to sports. And, the great thing about it is that the different kinds of bets can be used in a variety of sports. Here are some of the most common sports bets available to you:
Favourites vs Underdogs: The favourites is the team or player who’s most likely to win, while the underdog is the exact opposite – the team or player least expected to win. In most sports, you only get two opposing teams which make betting on either the underdog or favourite the most common bet. Now it isn’t always as clear cut (i.e. choosing one or the other). There is more than one way to bet.
- Point Spread: This betting option refers to betting on an exact winning margin for either team.
- Moneyline: The moneyline bet is a bit simpler. Here you simply choose the team you think will win and bet on them. You don’t have to be specific about the margin of victory like with a point spread bet.
- Over/Under Totals: In addition to being able to bet on favorites and underdogs, many sports betting sites also give you the option to bet on the total number of points scored by both teams. The total is predetermined by the sportsbook and you must bet on whether you think the actual outcome will be over or under that total.
Once you’ve made up your mind about the bet you would like to make, simply visit an online sportsbook or visit a physical sports betting venue to make your bet. This is the easy part because all betting processes are usually easy to follow and self-explanatory.
How to Calculate Your Winnings
If you are an impatient and inquisitive bettor then you might also want to know how much you can expect to win after you’ve made your bet. You might also want to use this information to decide whether making that particular bet is worth it or not.
The main goal in betting should always be to make a profit or else what are you doing. To help yourself achieve this you can calculate the expected returns for any given bet. Now, the numbers might be intimidating at first, but you’ll soon be able to get your head around it. Here’s how to calculate single and double wager returns.
Expected returns on a single wager:
If for instance you make a $10 bet on a game that had odds of 3.00, and you happen to win, you will make $20 in profit. Here’s how you came to this total:
The odds of 3.00 means that for every $1 you bet you will get back $3 if you win. So if you bet $10, it essentially means that your $10 will be multiplied by 3 which is $30. But remember, you used $10 of your own money to make the bet so you have to subtract that from the total to get your profit amount, which in this case would be $20.
Expected returns on a double wager:
Calculating expected returns on double or parlay wagers requires a bit more work. The best way to do it is to work the two out individually.
If you made a $10 total bet on two teams where team has odds of 3.00 and team B has odds of 4.00, you can expect a return of $30 on team. Now that you know what the returns for team A is, you can work out the returns on team B using the first $30 return as a stake. Then it will be $30 x 4 which is an expected return of $120 on your bet for those two teams.
Online Sports Betting Canada
Similar to how there are many types of bets in a casino game like roulette, there are various different ways to make a bet on any given sporting event. Selecting one may depend on how you feel that day, but also the game you are betting on. Read the section below for more.
Live betting lets you wager money during the match. Instead of placing bets on an upcoming game, you can wager your money on the day of the match. Bets such as which team will win or who is going to score the first goal are some of the options that you can choose from.
Here you choose to wager on the outcome of the match. For example, you can opt to bet on how many goals both teams will score for the entire game.
Parlay betting lets you make multiple bets to build up your payout. To win the bet, all the bets that you have made must win to qualify for a payout. Ensure that the wagers you have made have good odds and high payouts.
Almost similar to parlays, teasers betting allows you to make two different bets on two different games. You are allowed to change the bet however you want. But, doing this will decrease or increase the chances of a bigger payout.
So, how does odds work in sports betting? Understanding odds can be very confusing, but you must try so that you know exactly what the chances of you winning are. First, you should know that odds in sports betting can be presented in one of three ways: decimal form, fractional form or money line form. They may be presented in three different ways but they all mean the same thing and come with no differences in payouts.
Fractions are usually written using a slash or a hyphen. Therefore, fractional sports betting odds use the same format. For example, fractional odds of 6/1 (or 6 to 1) means that for every $1 bet you make, you can expect to win back $6. It refers to the ratio between expected profit and initial wager amount. When you win, you will get back your $1 wager, plus the $6 winnings which will amount to a total $7 win.
Decimal odds are presented as numbers separated by periods or commas. And, you are easily able to spot the underdog and the favorite by simply looking at the numbers.
The number given with the decimal odds represents how much you will win back for every $1 wagered. Here’s a simple formula for calculating expected returns: Payout = Stake x decimal number.
Moneyline odds are also presented as a number but in this instance, it will have a positive (+) or negative (-) sign before it. The latter is used on the favorites and the latter is used on the underdogs. The amount accompanied by the (-) sign indicated how much you have to wager to win $100, and the amount accompanied by the (+) sign indicates how much you will win for every $100 you wager.
Sports Betting Odds Calculator
Some sports betting sites and sportsbooks simplify this entire process for you by providing sports betting odds calculators. These calculators are relatively easy to use because you just insert the odds provided along with your intended bet amount and the calculator will do the math for you.
Sportsbooks often offer tons of great bonuses to new and existing bettors. The bonuses vary, and not all sports betting websites give the same bonuses. Below are some bonuses you can expect at the best online sports betting sites.
- Sign-up Bonus: New bettors who register with a sportsbook will be rewarded with this bonus. The bonus is a great way to kickstart your sports betting career.
- Deposit Bonus: Every time you deposit money into your account, the sportsbook will give you a bonus. This is given in exchange for your loyalty.
- Free Bet Bonus: Typically, this bonus is for when you deposit money into your account, and the sportsbook matches up the deposit with a free bonus.
- No Deposit Bonus: As the name suggests, a sportsbook will reward you with a no deposit bonus to attract people to sign up.
Canadian Sports Betting FAQs
Yes, sports betting is legal In Canada. You can freely bet on all your favorite games both online and at a land-based sports venue.
There’s nothing overly complicated about sports betting. If there is a major sporting event happening and you would like to place a bet on who you think is the most likely winner, you can do so at online casinos and sportsbooks. Simply create an account there and follow the prompts to make your real money wager.
The odds in any given game represents your chances of winning and how much you can expect to win back should you be so lucky. Odds are presented in decimal, fractions and money line formats which we get into in more detail in our above guide.
SU is an acronym for the words “straight up” and is one of the commonly used sports slang terms. It refers to when a sports team won against another team regardless of the point spread.
The actual sportsbooks that facilitate the screening of the games, updates and news are the ones responsible for creating the odds of each game. This info isn’t thumb sucked, though. It’s based on past results, performance, wins, overall favour and other factors.
People bet on sports because they enjoy it. Watching your favorite team on television can be very exciting. But, an unexplainable thrill comes from being able to bet on your team and seeing your love for them translate into real money winnings.
Yes, you can place sports bets online. There are many online sports betting sites and sportsbooks just waiting to assist you in placing your bets.
This is a type of bet where you choose to wager on the outcome of any given match. For example, you can opt to bet on how many goals both teams will score for the duration of the game.
How much money you make ultimately depends on how much you are willing to wager. So, the more you wager, the more you stand to win back. Also, opt to bet on games with decent odds because those are the ones that offer good returns.
Yes, it is legal to place bets at offshore sports betting sites and sportsbooks. Just ensure that the sportsbook you choose has all the necessary certification to operate in that particular country or jurisdiction.
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