How Does Online Sports Betting In Canada Actually Work?

Ottawa Senators v Minnesota Wild" danielthornton

Throughout the world, sports betting is a staple for both gambling and sports enthusiasts. It all started with friends betting with each other on different sporting outcomes (probably who could club an opponent over the head the most or who could outrun a lion) and eventually grew into the massive industry we know and love today. Canadian players specifically have an enviable amount of access to different betting options and platforms so today, we thought we’d take a look at how it all works.

Here, we’ll be focusing specifically on how Canadian sports betting fans can place wagers online easily, safely and smartly.

What’s A Moneyline?

(CC BY 2.0) by C.P.Storm

For starters, let’s take a look at how most Canada-based online sports betting odds work. The best place to start is with the moneyline, which usually represents how much you would win if you were to place a $100 bet. For example, a common moneyline you’ll see at Canadian betting sites is (110), which means you’ll win $110 on a $100 bet.

For big important events such as who will win MVP, it isn’t unusual for the moneyline to be as high as (2000) or (3000). Of course, you don’t always have to bet $100, but it just makes it easier for everyone to work out. If you were to bet $10 on (3000) though, for example, you’d win $300 as you bet 10%. Really, as far as working out betting odds goes, we have a pretty simple system. It's essentially just betting on the winner.

What Are Spread Numbers?

The next thing to consider is the spread number, aka the points the favoured team needs to acquire for a bet on them to be won. When the spread number is put up, the team most likely to win will have “-” placed before it’s spread number, while the underdog’s number will have “+”. So, let’s say this is the spread you’re presented with:

Senators -1.5 (110)

Flames +1.5 (110)

In this case, the Ottawa Senators would have to win by at least 2 points for you to win your bet. However, if you placed a wager on the Calgary Flames then all they’d need to do is win for you to receive a pay-out. The risky move here is that the Senators may win but only by 1 point, meaning that all bets regardless of who you placed them on would be lost.

That said, odds may not always be as simple to read. As online casino Mr Green explains, sports betting on particular sports such as soccer can be a bit confusing as oddsmakers will sometimes choose to show odds in decimals or fractions. This will require a little more math but will soon become easy to understand. For instance, odds may be portrayed as 2/1 or 3.0, but really that just means a 33.33% or 0.33 probability of winning.

Which Sports Can You Bet On?

There are plenty of different sports that Canadians love including hockey, lacrosse, soccer, baseball and horseracing. Thankfully, most betting sites – especially those tailored specifically towards Canadians – will have odds on all of your favourite sports available.

Whichever sport you want to bet on, chances are you’ll find it online. It doesn’t even have to be a big televised event that you can bet on, it could be a small hometown game or even college games in some cases. Once you’ve had a few goes, you’re sure to become natural. 

Mathieu Blake

Mathieu Blake - Internet Entrepreneur, loves technology, sports, the Montreal Canadiens, Poker, Poker chips, current events and travel. You will often find him Writing about different topics that interest him on websites and blogs. To submit an article, contact the website directly.