Last updated on July 16th, 2022 at 04:54 am
Best Sports Betting Sites in Canada of August, 2022
The amount of sports betting sites in Canada is overwhelming and makes it difficult to select the a sportsbook for your betting needs. However, we have created systematic criteria to help you find the best betting site. The choice of the best Canadian bookie relies on a host of factors that increase your odds and improve your overall experience while making it safe to bet. Al lot offshore sportsbooks offer a bonus to attract more players to the site, but that may be blinding to many other factors that make the sportsbook unsuitable for betting.
The top 5 Best Sportbooks Canada
Sports Betting Canada
Sports betting has come a long way in Canada, from being unregulated till legalizing in August 2021. The law has handed the Canadian provinces the power to regulate and tax sports betting while removing any restrictions through bill C-218. Before lifting the ban, punters were only stuck with bet parlays. Ontario province has taken the lead in regulating sports betting by launching the Ontario Lottery and Gaming Corporation (OLG) in early April 2022.
Many sportsbooks have joined the sports betting market in Canada, offering punters a variety and great odds for games in Canada and globally. While the OLG was among the first to launch, many other provinces in Canada, such as Alberta and Saskatchewan, have announced plans to launch online sports betting in the summer. Besides the regulated betting sites in Canada you can also play legally at offshore sport books. The Canadian market sports betting is very big , but we would love to help you find the best betting site in Canada, so you can play responsibly, safely, and make out with great payouts.
Criteria for selecting the best sports betting sites:
Customer Support and Reputation
Setting apart the sportsbook requires details on its history and reputation, available through ratings and reviews on the platform. The number, size, and types of promotions available. The user-friendliness in navigating the site, customer support, depositing, and withdrawing funds. We assess the availability of the platform on all devices and the responsiveness of customer support to ensure that all your queries and errors are resolved promptly. Sportsbooks with negative press and blacklisting are generally discouraging.
Most players are after sites where they can make a lot of money on their bets; it is, therefore, imperative that the best sportsbooks have good odds that can allow them to make good cash on a bet. Another factor that we factor in on the odd is the frequency in which the odds are posted since odd rarely stay fixed.
Banking Options and Security
The ease of depositing and withdrawing money influences the choice of a sportsbook. If a bookmaker has more banking options, they will likely have one you easily use, hence easier to bet. Bookmakers with more deposit and withdrawal options take the cake. The deposit and withdrawal process should be swift and efficient. Additionally, the sportsbook must ensure that the funds are secure, including using SSL to reduce the risk of fraud.
Number of Games
Everyone has a game they understand more, hence having a higher chance of winning a bet in the sport than another. Sportsbooks with more sports and leagues are therefore better for all gamblers. Bookies with more league games are more desirable than those with a small selection of games. Some sportbooks offer an online casino with live dealer games and slots next to the sport betting.
While betting is fun and presents an opportunity to earn money, there is more to it than getting bets and putting your cash on them. Sportsbooks have to provide extra and more incentives to stay with them. Some common extra features are bonuses, additional secondary betting options, and the addition of prop bets. However, the most interesting extra features are the types of bets offered, such as parlays, Moneyline bets, spread betting, Over/Under bets, Proposition bets, Futures wagers, half bets, live bets, and so on. Cash-Outs and edit my bets have been features many gamblers have lauded, with many more features being introduced. It is the extra feature that increases the joy in the game.
How Sports Betting Works
Sports are entertaining and generally have a lot of fans globally. Many fans, pundits, and players often argue about who is superb in a particular sport. The result of each game is unique, as underdogs and favorites win or draw, depending on the day. Sportsbetting is a way to test your knowledge of the sport by loosely putting your money where your mouth is. You win some cash when your predicted result happens and vice versa. You can bet on individual sports such as tennis and boxing or team sports such as hockey, rugby, and football. Sportsbetting extends beyond sports and may include political races, reality TV shows, horse races, and the likes.
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Sportsbooks often have multiple matches across several sports and leagues, at both amateur and professional leagues you can bet on. The bet types available to gamblers are varied, with each bringing your knowledge of sports to the test. Moneyline bets are the simplest; you predict the team (athlete) who wins the match to win. Spread betting gives a range on the score between the favorite and underdog, while over/under bets involve betting the game's total score. Live bets are made during the game, with future bets often betting on the winners of tournaments before the tournament takes place, such as betting on the winner of the 2022 FIFA World Cup in April while the tournament is in November. The multiple other bet types with different variations.
The Sports Betting Strategies
Sportsbetting is one of the most studied mathematical phenomena. Experts have devised many strategies to help improve the odds of winning. Here are the most common strategies
Arbitrage involves placing multiple wagers on the same sports event when the bookmaker has good odds for either side. If you get a single game with odds above 2 for both wins and loses, you can stake the same amount on both. Though you will lose one bet, the win on the other will offset the loss and guarantee a small edge.
Value betting involves getting odds that are a bit over the probability and betting on them. You have a slight edge over the sportsbooks when a team has a 2.50 odd rather than 2.22.
The Fibonacci betting system
The Fibonacci betting system is based on the Fibonacci sequence. The ideal is to bet higher when you lose using the Fibonacci sequence, similar to the martingale strategy.
The Kelly criterion is a mathematical formula used to calculate the optimal size of the wager.
Sports Betting Odds Explained
Sports betting odds represent the probability of a particular outcome occurring and are generally used to calculate the payout on your wager. The probability is not the same as the odds but is related such that when the probability of an event happening is high, its odds are low. Different sportsbooks have different ways of calculating the odds. Such as dividing the probability by 100. An event with a probability of 40% will therefore attract a 100/40= 2.5. If you wager $100 on the outcome, and it happens, your wins are $100X2.5= $250.
About Legal Sports Betting sites in Canada
Sportsbetting at Canadian online Sportbooks has been legal in Canada since the landmark C-218 amendment in August 2021. The repeal, however, is not blanket legalization of sports betting as the mantle has been shifted from the national government to the provincial government. Before the event, only parlay was present in some Canadian provincial lotteries.
Nonetheless, many national and international players have joined the market, with regulators in each province setting standards and licensing sportsbooks in their regions. All betting operators in Canada have to be licensed and often pay a 15% to 33% tax.
History of Sports Betting in Canada
Betting is primordial and has been part of Canada since the natives settled in the land. During this period, there was no regulation until the government got wind of the practice in the late 1800s. The government's initial reaction was to regulate gambling and end all illegal gambling rings.
In 1892, the government criminalized all gambling activities except pari-mutuel betting on horses by instituting a criminal code at the turn of the century. In 1969 the Canadian government granted provinces power to manage their gambling laws and conduct sports lotteries used for charities.
Sentiments of most Canadians have changed on gambling recently, with only 18% of 18 to 34-year-old Canadians participating in gambling in 2010 compared to 52% in 2018. In 2021 parliament repealed the criminal code, giving betting room to grow with many firms and international companies coming in.
Sportsbetting in Canada has come a long way. The changes in the summer of 2021 have made it easier for more Canadians to bet on various sports activities they enjoy. It is fair to conclude that sports betting in Canada is in its infancy, and there is much more to come in the coming years.
The odds offered by a bookmaker for a particular match may change due to unexpected events.
It is possible to bet during a match using live betting, but the odds change fast, reflecting changes in the game.
Bets are general predictions of events, and there is no sure way to get them right. But using different strategies and having great odds can guarantee good returns.