Do you want to know how to legally bet on sports in Ontario? We will offer you all the information as you continue reading. Now operating legally in the province of Ontario are online bookmakers. Anyone aged 19 and over who is physically present in the Province will have access to it by downloading an app or visiting a website.
How Sports Betting Works in Ontario
Sports wagers are bets made based on a game’s or possibly an entire season’s outcome. For entertainment purposes, it’s fine to have some “skin in the game,” but gambling should never be seen as a way to generate money. It’s fantastic to enjoy yourself, but keep in mind that gambling offers the possibility of winning, so try to stay away from taking chances you can’t afford.
Checking the Odds
Nowadays, there are odds on just about every sporting event. Sports betting sites frequently quote all odds in “American Odds” by default. The “negative American odds” measure the amount of risk required to win C$100.
For instance, a typical wager will often be priced at -110, which implies that sports bettors must wager C$110 in order to gain C$100.
Positive odds, on the other hand, indicate how much you earn on a C$100 stake. For instance, +180 indicates that sports bettors will win C$180 on a C$100 wager.
Sports gamblers have the possibility to turn minor risks into large winnings when they wager on a big underdog or multi-leg parlay, but the odds on the bet reflect the fact that winning the bet is unlikely.
The amount you bet should take into account your tolerance for risk, personal preferences, and the capacity of your bankroll to sustain losses. It makes sense to “bet with your head, not over it.” Don’t take on too much risk, or you can lose the game due to a losing streak.
Choosing a Site to Bet on Sports in Ontario
You will place all of your bets through betting sites, so choosing the best bookmaker for you is crucial. Make sure you are at ease using the app’s and website’s UI. Furthermore, the website must load swiftly.
Game lines might change, especially when you place a live wager. Never miss a bet because the app froze, in your opinion. Additionally, ensure sure the betting site offers fair odds. Sports bettors must frequently take advantage of the greatest price to turn a profit over the long term.
Finally, be sure you can swiftly and easily withdraw your money. The speed of withdrawals and the variety of ways you can get your money vary among betting sites, but they all allow you to deposit and start betting relatively quickly.
Types of Bets on Sports in Ontario
There are numerous sports betting options. Some bet kinds are more suited to specific sports than others. For the NFL, a spread bet is ideal, but not quite as much for hockey, to provide one example. Here is a list of some of the most well-known.
Bets on the outcome of a game are known as money line wagers. Let’s say you see a line that reads Leafs -290, Canadiens +240 when the Toronto Maple Leafs and Montreal Canadiens are playing.
A C$100 wager on the Leafs would provide C$290 in winnings, while a C$100 wager on the Canadiens would return C$240.
Three-way money lines for sports withdraws, like soccer, include “draw” as a wagering option. In addition, hockey money lines offer 60-minute options with a price associated with “tie.”
A wager made on an ongoing game is referred to as a live bet. If the fourth inning of a Toronto Blue Jays vs. New York Yankees game is scoreless, you might assume that the Jays are about to have a big inning. Perhaps there is a Live Bet on the Jays to win at +130 on your sportsbook. Between innings, you can visit your book and secure a wager.
Parlays are bets where at least two or more bets, or “legs,” are combined. All of the parlay’s legs must win for the bet to be successful. Any combination of straight bets, money lines, totals, and prop bets can be combined to form a parlay. Additionally, you can parlay across many sports.
Want to wager on the Toronto Maple Leafs with a money line, the Buffalo Bills at -7.5 against the New England Patriots, and the Total for the Blue Jays game? You can use all of that.
The number of legs in a parlay and the individual betting odds for each leg determines the parlay’s rewards. Online sports betting will pay out more if there are more legs or better odds on those legs.
A straight wager with a point spread is referred to as a spread wager. Let’s say the spread is Bills -10.5 versus. Jets. If you wager on the Bills, you win if they defeat their opponent by a margin of 11 points or more. On a bet like this, you would need to risk C$110 in order to win C$100 on an online betting site that generally prices spreads at -110.
A gamble on the combined total of points (or runs, or goals, etc.) achieved by the teams is known as a total or Over/Under bet.
Let’s say the total score between the Toronto Raptors and Boston Celtics is 215.5 points. If you wager on the Over, you win if both teams score 216 points or more overall. In contrast, if the total is 215 or less, the Under is the winner.
Similar to how they do in standard spread bets, totals often price at -110.
Typically, futures bets are bets on certain events that will take place at the end of a season. You can see odds like Toronto Blue Jays +1800 to win the upcoming World Series, for instance. You’ll win C$1800 on a C$100 wager if the Jays win the championship. It’s also common to place futures bets on victory totals, such as the Raptors Over/Under 42.5 wins for the season.
Proposition Bets are wagers on a particular success.
There are props for both teams and players, such as “Toronto Raptors Over/Under 8.5 3-pointers vs. Miami Heat” and “Josh Allen to throw Over/Under 1.5 TD passes vs. Dolphins”.
Even minute events like the outcome of the following play from scrimmage in a football game are subject to live prop bets.
Most Popular Bet on Sports in Ontario
On their more specialized products, online bookmakers will differ slightly. However, novice gamblers need not worry; they will all cover the major sports in depth. Here is an example of what to anticipate.
Moneylines and totals, which are fairly similar to MLB wagers but with a few extra alternatives, are the most popular types of hockey wagers on NHL betting sites in Ontario.
There is a “Puck Line” where you can bet with a 1.5-goal spread, similar to MLB. Additionally, there are 3-way money lines that allow you to wager on either team to win or a tie at the conclusion of regulation.
Let’s say you wish to place a wager on the Toronto Maple Leafs because they are playing the Boston Bruins. Leafs -230 may be the typical money line.
Leafs are +105 on the puck line, but you are providing 1.5 goals, thus, they would need to win by at least 2.
Additionally, you can use the 3-way market and place a wager on the Leafs moneyline at roughly -150; in this scenario, you will only win if the Leafs triumph in regulation.
The NFL would be the ideal sport to wager on if such a thing were possible. The scoring level is just low enough to keep things interesting with each update but not too low that you occasionally wonder if you’ll ever see a score. Furthermore, the typical delay of 30 to 40 seconds between plays is just right for placing a live wager.
Of course, wagers on NFL spreads and totals are extremely popular. In addition, if you enjoy futures, there is a thriving off-season sports betting market on Super Bowl odds and club win totals that begins in the spring.
NBA wagering is simultaneously easy and difficult. NBA handicappers just need to calculate three numbers in total. That is the anticipated offensive effectiveness for each side, as well as the anticipated play speed. As a result, both spreads and totals are quite well-liked. NBA props, such as “total amount of threes,” or individual props, such as “How many points will Lebron James score,” are also quite popular.
Betting on MLB is a lot of fun. Since there are 162 games in a baseball season, exciting action occurs almost daily.
Moneyline bets on the game-winner and total runs over/under are the most common MLB wagers. Betting companies often provide 5-inning money lines and over/under if you want to minimize the risk of bullpens. Additionally, MLB Run Lines allow you to wager on the game with a 1.5-run spread.
MLB wagers often depend on the starting pitchers specified, so if there is a last-minute change, the wager will automatically be voided.
For new bettors, college football betting is just entertainment. Even if there are many mismatches in the actual game, point spreads and totals are what keep things intriguing. There are enormously well-liked futures markets in the offseason, just like with the NFL.
Almost as soon as the final score of the championship is announced, you can place a wager on the conference championship, playoff qualifiers, and winners. The team wins total over/under is released in the spring and is very well-liked.
Who doesn’t enjoy filling out brackets for March Madness? The majority of betting sites provide competitions with a range of stakes, from zero to large. Of course, you can bet on each and every game. And the season doesn’t only begin in March when the entire globe focuses its attention on the sport.
There are point spreads and totals on almost all of the games and tournaments that begin in November.
Other Options to Bet on Sports in Ontario
Beyond the major sports, there are a ton of other things you may wager on. Perhaps more important than anything else is soccer, and betting websites offer markets for matches from all around the world.
Individual sports like golf, tennis, and motor racing are also popular among bettors. Some bookmakers allow you to wager on other specialized sports like darts and table tennis if you wish to delve even further.
When it comes to available betting markets, the options are virtually endless. DraftKings Ontario Sportsbook, a popular betting site known for its wide range of betting markets, is one that allows for many various markets.
Online Betting on Sports in Ontario
Currently, gambling is permitted in Ontario. On April 4th, 2022, online bookmakers began accepting mobile bets. The province is anticipated to offer up to 15 sites.
Betting Odds and Lines
You can anticipate seeing the same betting lines in Ontario as you would in Las Vegas and on US internet bookmakers. However, there will be minor but significant line differences. Getting the greatest deal on every wager you make is the best method to increase your bankroll.
Because the betting margins are so small, you want to get any advantage you can. As a result, whenever you place a wager, you should create accounts at as many books as is practicable and look for the finest line available.
Sports Betting Apps
Be on the lookout for mobile Ontario betting apps from all the new betting sites. The quality and structure of the apps vary from website to website, but most are fairly quick.
They’re wonderful since you can instantly see the odds and, if you like, put a bet right away. Naturally, you can use your phone to access all of this from anywhere.
Deposits and Withdrawals
Depositing money is incredibly simple on betting websites. It is speedy and secure. They accept all forms of payment, including eChecks, ACH bank transfers, prepaid cards, and credit cards. In the US, bookies frequently use PayPal and Venmo, although it is unknown if these services will be offered in Canada. Typically, funds are available in your account within minutes.
While safe and dependable, withdrawals aren’t quite as secure as deposits. You may be confident that your money will reach you, and it’s far simpler than the days of bookmakers or offshore books.
Although bookmakers don’t provide as many possibilities for withdrawal, there is always the check-in-the-mail option, as well as typically available bank transfers and other methods. Your payout preference will determine the speed. Checks can take up to a week, while wire transfers and PayPal/Venmo may take one or two business days.
The best approach to speak with the support staff is typically through live chat. Live Chat is a service that most sports betting sites offer, but not all of them.
If not, they will undoubtedly provide phone and email support. Additionally, the books feature comprehensive Search and FAQ sections, so it’s conceivable you’ll locate the solution on your own before contacting anyone.
FanDuel Ontario sportsbook is one of the betting sites with notably strong customer service alternatives.
Simple Sports Betting Strategies and Tips
As you get more knowledgeable about sports, you’ll undoubtedly develop the skill of game handicapping, which involves computing point spreads and totals and then comparing your findings to the actual betting markets.
That’s incredibly beneficial, but how well you handle your money will determine how much fun you ultimately have.
You will need to understand how to always find the greatest pricing, how to time different bet kinds effectively, and how much money to set aside for the wager.
Register with Several Betting Sites
As many betting sites as you can, register with.
When you place your bets, it’s crucial to get the greatest deal you can. A spread of an extra half-point or point can increase the likelihood of the wager winning by 1% to 2%.
You can save a few dollars on a loss by placing your bets at -105 rather than -110 each time. And over time, it all adds up. Having as many betting options as you can is the greatest method to receive the best pricing.
Purchase the Lines
Shop lines whenever you can! You will always receive the best deal using this method. There are websites and services that will list all the markets that are open.
Make use of this to your benefit. Bookmakers add “juice” to odds when pricing them, such as the usual -110 on straight bets. But by making your wager at the best price when you shop lines, you can actually lessen or even completely remove that juice.
Follow a Betting Strategy
There isn’t a single winning betting strategy out there. However, that doesn’t imply that a betting method is without value. It’s crucial that you feel at ease and assured about how you’re approaching this. Consider that you enjoy placing NFL Unders wagers.
Betting results fluctuate in the short term but mean-revert over the long term, so you could want to come up with some rules or piggyback on a betting system that plays specific Unders.
You will probably perform better than you would with a more haphazard approach if you maintain confidence in your strategy and discipline in adhering to it.
Begin with Straight Bets
Straight bets are the simplest wagers to comprehend, making them a popular starting point for novice gamblers. As the point spread or total is set at a level that balances the probability, the odds are often in the range of 50%.
Twenty consecutive “heads” outcomes on a coin flip are possible, but they are extremely uncommon. In the same vein, it is quite unlikely that you will succeed or fail with every touch. A fantastic method to get your feet wet is to start with lower stakes and straight bets.
Placing Small Bets
Don’t bet over it; bet with your head. And take good care of your cash. You can get comfortable with the full process of betting money on a game and then watch how you handle the action by making little bets.
You’ll discover that it’s preferable to have some net profits and regret not betting more than it is to suffer a significant loss too soon and deplete your bankroll before you’ve even begun.
The most common type of sports betting is live betting.
Algorithms are typically used by sports betting firms to set their betting markets for Live Bets. Furthermore, the odds spreads are larger than pre-game spreads. Instead of the usual pre-game -110, it’s frequently -115 on each side.
However, these algorithms may take too long to respond to changes in a live game, such as when a crucial player is injured, an NBA star receives a foul, or other unforeseen circumstances arise. As a result, live markets can exhibit some inefficiencies. One sportsbook that stands out for offering live betting is BetRivers Ontario.