A Guide for Legal Sports Betting in Ontario, Canada

Given that Ontario is the most populous province in Canada, it makes sense that it was the first province to legalize online sports betting. On April 4, 2022, mobile sports betting was introduced in Ontario, with roughly two dozen sportsbooks going live in the jurisdiction.

That means you can now wager on hockey, football, basketball, soccer and tennis at leading Ontario betting sites. But before you do, discover how the betting industry in Ontario works, how to find sportsbooks and how to place bets.

How Sports Betting Works in Ontario

Sports wagering involves 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. You can check out for further information.

Reading Betting Lines

Nowadays, there are odds on almost 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 $100.

For instance, a typical wager will often be priced at -110, which implies that sports bettors must wager $110 to gain $100. Positive odds, on the other hand, indicate how much you earn on a $100 stake. For instance, +160 suggests that you will win $160 on a $100 wager.

Wagering Amounts

Sports gamblers have the possibility to turn minor risks into large winnings when they wager on a favorite or multi-leg parlay, but the chances on the wager indicate 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 betting budget to sustain losses. It makes sense to "bet with your brain, not over it." Don't take on too much risk, or you may lose the game due to a losing streak.

How to Choose an Ontario Sports Betting Site

You will place all of your bets through betting sites, so choosing the best bookmaker for you is crucial. Ensure you are at ease using the app's and website's UI (user interface). Furthermore, the website must load swiftly.

Game lines might change, especially when you place a live wager. Never miss a bet because the mobile application froze. Additionally, ensure sure the betting site offers fair odds. You 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 Sports Bets in Ontario

There are numerous sports betting options. Some bet types are more suited to specific sports than others. In the CFL, 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 sports bets types in Ontario:

Moneyline Bets

Bets on the outcome of a game are known as money line wagers. Let's say you see a line that reads Leafs -190, Canadiens +140 when the Toronto Maple Leafs and Montreal Canadiens are playing. A $100 wager on the Leafs would provide 190 in winnings, while a $100 wager on Montreal would return $140.

Three-way money lines for sports with draws, like soccer, include "draw" as a wagering option. In addition, hockey money lines offer 60-minute options with a price associated with "tie."

Live Betting

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 Toronto is about to have a big inning. Perhaps there is a Live Wager on Toronto to win at +230 on your sportsbook. Between innings, you can visit your sportsbook and secure a wager.

Parlays

Parlays are bets in which at least two wagers, or "legs," are combined. All of the parlay's legs must win for the bet to be successful. Any combination of straight bets, totals, money lines, and prop wagers can be combined to form a parlay. Additionally, you can wager across many sports.

The number of legs in a parlay and the specific 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.

Most Popular Sports to Bet on in Ontario

CFL

The CFL 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 CFL spreads and totals are extremely popular. In addition, if you enjoy futures, there is a thriving off-season sports betting market on the Grey Cup odds and club win totals that begins in the spring.

NHL

Hockey is Canada’s favorite sport. Needless to say, it is one of the most popular sports for betting in the country. You can bet on both the NHL and the AHL in Canada.

Additionally, you can wager on college hockey, the Stanley Cup and international hockey competitions.

NBA

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 Kevin Durant score," are also quite popular.

College Sports

For new players, college sports wagering can be entertaining. Even if there are many mismatches in the real game, point spreads and totals are what keep things intriguing. There are 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.

Photo: The Canadian Press