How Sports Betting Works in Canada

Sports betting in Canada allows Canadians to bet on their favorite sports legally. Sports betting has been legal in Canada since 1985, but players could only make parlay bets. In 2021, the federal government passed Bill C-218, which legalized betting on single events.

Canada has a unique sports betting landscape, as it is legal to bet on sports at provincially regulated sportsbooks as well as offshore sportsbooks licensed by a recognised gaming body.

Players in Canada have many options for betting on sports. Many legitimate sportsbooks offer competitive odds, bonuses and promotions, 24/7 customer service, and a variety of payment methods.

This comprehensive guide will show you everything you need to know about sports betting in Canada.

What Is Sports Betting?

In Canada, sports betting is defined as a regulated form of gambling in which individuals wager money on the outcome of sporting events or contests, permitted under the Criminal Code of Canada. Canadians can make sports bets on their favorite sports at provincially regulated sportsbooks and offshore licensed ones.

Sports betting is supposed to be a form of entertainment and not a way to make money. Players need to gamble responsibly and follow the golden rule of gambling: never gamble more than you can afford to lose.

At the sportsbooks, you will see various sports, and if you click on the links for them, you will see the games or matches. Then you will see all of the betting markets available for the event—the more popular the sport, the more betting markets you will find. For example, there can be over 100 bets available for an NHL game, while there is only one winner market for a volleyball match.

While there are many different types of bets, a couple of common examples in an NHL game include picking the Calgary Flames to beat the Vancouver Canucks or betting on the over/under on the number of goals scored in the game, set by the sportsbook. You make your pick, and if you win, you are paid out with the amount depending on the odds of the bet you made.

Legal Sports Betting in Canada

In Canada, there are two types of sportsbooks that Canadians can legally play at: provincially licensed and offshore, licensed by a recognized gaming body.

A provincially regulated sportsbook is one licensed and regulated by a provincial government-run agency for a specific province of Canada. For example, in Ontario, sports betting is regulated by the Alcohol and Gaming Commission of Ontario (AGCO). Provincially regulated sportsbooks are available to residents of that province. Considering that they are for residents of that province, there may be more bonuses and promotions for teams or sporting events in that province as well as more localized payment options.
An offshore sportsbook is not based in Canada and accepts players from around the world. Many legitimate, licensed gaming body, platforms accept Canadian players, and many also accept the Canadian dollar. Since offshore books do not cater solely to Canadian players, there are fewer Canadian-specific payment options. Also, while there are fewer bonuses and promotions for Canadian teams and events, you will still find bonuses and promos for the more popular sports in Canada, such as the NHL, NBA, and NFL.

“Betting legally” means that if you make a bet at a legal sportsbook, you are in no fear of prosecution under the law.

Common Types of Sports Bets

Here are the more common bet types you will see at sportsbooks.

Moneyline

The moneyline may be the simplest bet to understand, as you are picking the winner of a game or match. If you bet on the winner, you will win the bet and are paid out according to the odds. In a moneyline bet, you will see two numbers, one showing the favorite and one showing the underdog. Here is an example of an NHL moneyline bet:

Vancouver Canucks -165 vs. Calgary Flames +145

In this example, the Canucks are the favorite, denoted by the – in front of the number, and the Flames are the underdog, denoted by the +. You can bet the amount you want, but let’s use $100 as an example. So, in this game, you are betting $165 to win $100 betting on the Canucks to win and betting $100 to win $145 betting on the Flames. As you can see, you are betting more to win less on the favored Canucks and betting less to win more on the underdog Flames.

Point Spread

The point spread is a type of handicap bet in which the underdog receives points, and the favorite receives points. Here is an example of an NBA point spread.

Toronto Raptors -5 vs. the New York Knicks +5

In this example, the Raptors are the favorites, giving the Knicks five points. This means that if you bet on the Raptors to win, they must win by 6 or more points. Conversely, if you bet on the Knicks to win, they have to win the game or lose by fewer than five points. If the final score is Raptors 120, Knicks 110, the Raptors “covered the spread’ of five points and are the winning team in the bet.

Note: Often, you will see a point spread with a .5 at the end. So, for the example above, the Raptors are a 5.5-point favorite. You obviously cannot score a half-point, and that takes the tie out of the equation. However, if there is not a .5, and in the example above, if the Raptors win the game by exactly the spread of 5 points, the bet is a push, and you will receive your original stake back.

Over/Under (Totals)

The over/under bet is also a simple one to understand, as you are betting over or under a certain number of goals or points. For example, in the NHL game above, Canucks vs. Flames, the total is set at 6 goals. You are betting over or under the six-goal line, so if the final score is 4-3, there are 7 goals scored; the over wins, and the under loses.

Parlays

A parlay bet is multiple bets in one. The bets are called legs, and they all have to win for the parlay bet to be a winner. A parlay is a risk vs. reward bet: the more legs in the bet, the higher the payout, but the harder it is to win. Here is an example of an NHL parlay bet.

Taking the Vancouver Canucks at –165 to beat the Calgary Flames
Taking the Toronto Maple Leafs at +120 to beat the Ottawa Senators
Taking the Over 6.5 goals for the Winnipeg Jets vs. Montreal Canadiens

When you make a parlay bet at a sportsbook, it will show you the payout depending on how much you bet.

How Betting Odds Work

Betting odds for sports show the implied probability of an outcome in a game or match, along with the potential payout for the winner. The odds are a stake multiplier that shows the risk and return of the bet.

There are three forms of odds you will see at the sportsbooks: moneyline, fractional, and decimal, which are common at Canadian sportsbooks. We have touched on the moneyline above, and here are a couple of examples of the other two forms:

Fractional – 2/1 – for every $1 bet, you get a profit of $2 as well as the $1 stake.
Decimal – 1.75 – It is the stake multiplied by the decimal, so if you bet $1, you will win $1.75.

The sportsbook set the odds with different factors such as team form, injuries, head-to-head records, home and away records, and more. The sportsbook wants even money bet on both teams or players, so it is not paying out more for a loss. For example, if the Buffalo Bills open as a 7-point favorite over the New England Patriots in an NFL game. The public starts to bet much more on the Bills, and because of this, the line will likely move to the Bills higher (-8 or -9) to make it more enticing for bettors to bet on the Patriots, in the main goal for the sportsbook to get even money bet on the game.

Is Sports Betting Safe in Canada?

Sports betting is safe in Calanda as long as you bet at reputable platforms. In Canada, those platforms would be provincially licensed, or offshore platforms that hold a license from a recognized gaming body. You should be able to find the license for the sportsbook in the footer of the landing page.
It is also important to check for other high-level safety indicators such as secure payment options, responsible gaming tools, and transparent information.
Reputable betting sites available in Canada will offer a variety of secure payment options for their players. Often, provincially regulated sportsbooks will offer more localized payment options for Canadians, such as Interac.
It is also important to see if a sportsbook offers responsible gambling tools. These can include deposit, time, and bet limits, as well as the ability to exclude yourself from betting at the site for a specific period of time.
You always want to wager at a sportsbook that is transparent about the security measures it takes to protect your personal and financial information. Typically, solid sports betting platforms used by Canadians will include extensive security information in their privacy policy links.

Final Thoughts: Learn Before You Bet

It is important that, when using reputable betting sites available in Canada, you know the sport you are betting on and the betting markets available. The more you know about the sport, the more you can make informed decisions when betting, which is important. You also need to know the betting markets available, so you know the risk and reward for the bet that you want to make.

Understanding how sports betting works makes it easier to choose sportsbooks that align with your betting preferences. The information in this guide can help you understand sports betting and help you pick the sportsbook that is best for you.