How to Find Best Sports Betting Odds in Canada

A sportsbook is just a collection of odds, ranging from traditional moneylines, splits and totals to exotic wagering options like props and futures. As gambling becomes more widely allowed in Canada and the number of mobile betting sites in Toronto grows, more and more individuals, from casual gamblers to die-hard sports fans, will be able to test out these applications.

No matter how knowledgeable you are about a certain sport, if you want to place bets on games, you need to pay attention to what the chance board is showing you.

In light of the recent proliferation of online betting in Canada, we will provide you with all the necessary information about Canada sportsbooks, so you can confidently place wagers on any sport you like. We will also mention odds, a rundown of the various wagering options, and instructions on how to make the most out of them. 

Paying attention to independent comparison and review sites for online sports betting is crucial for security and peace of mind. Before you sign up with a sportsbook and start betting real money, it’s helpful to read the reviews that experts wrote on our informational sites to get a clear picture of the quality of each service.

How To Read Betting Odds

Players can place bets on sports in Canadian sportsbooks with odds presented in American or decimal systems. In most cases, you’ll have the flexibility to toggle between the two displays.

Most underdogs in American sports are given positive numbers, whereas most favorites are given negative numbers. The lesser of two integers in a decimal odds calculation wins. It is likely that any distinctions between the two number sets have been eliminated, making converting back and forth between them quite easily.

It is nevertheless beneficial to grasp the odds in both forms, even if you mostly use one. Depending on where you conduct your study, you can find one of the other variants. If you don’t understand both forms, you’re asking for trouble and increasing your likelihood of making mistakes.

How To Place Wagers On Sporting Events In Canada

When you launch the app, you’ll see a list of several sports, each of which you can click to reveal betting lines for a specific game. After you’ve done this, you’ll be able to see the scorelines for the games in your application. Moneyline wagers, spread wagers, and total (over/under) wagers are all available in the sportsbook for the most popular titles.

If you’ve ever been inside or in the general area of a sportsbook, you’ve probably heard these terms before. Getting comfortable with these three types of wagers is a great first step toward understanding how to decipher odds in any market you encounter.

Moneylines

When placing a bet on the moneyline, you have to choose the team you believe will come out on top. The oddsmakers’ projections indicate that the favorites will win the game, and their odds will have a negative line next to them. On the other hand, the underdogs’ odds will have a positive sign next to them. You can utilize the moneyline itself to determine probable wins and losses, with the number $100 serving as the basis for the calculation.

When betting on favorites, the “negative line” shows the amount that must be wagered to get $100 in return on a successful bet. You would have to place a gamble of $160 on Toronto to make a profit of $100, giving you a total return of $260 when you include the original stake.

When the chances are in your favor, the figure represents how much money you stand to gain if you stake $100. Therefore, a wager of that magnitude placed on Saskatchewan at odds of +140 can gain a profit of $140 and a total return of $240.

Spread Betting

The point spread is how oddsmakers try to make the game more balanced from a betting standpoint, considering that not all teams are equal. In order for the favorites to “cover” the spread, they need to win by a larger margin than the spread implies. Bettors who wager on underdogs have a better chance of winning their wagers if their team loses by a margin that is less severe than the point spread.

When it is time to determine wins and losses, you should utilize the price that comes with the spread and calculate as you would with a moneyline to establish what your risk will be and how much you stand to gain.

A wager on Toronto at -3.5 (-110) requires a risk of $110 to gain $100 in profit. This is because the Argonauts must win by at least four points for the wager to be successful. A wager on the Roughriders +3.5 (-110) requires the team to win by three points or fewer, whether they win or lose, in order to cover the point spread.

Price of a Spread

The price you pay for a spread, also popular as the juice, will typically range between -125 and +100 in most instances before a spread changes by a half point in whatever direction you push it. While many point spreads will feature matching -110 lines on both sides, many point spreads will also feature matching -110 lines on both sides. Always look around at several places to make sure you’re getting the greatest deal possible on your line.

Another important fact to remember is that if a point spread is a whole number and the winning margin of the favorite lands exactly on it (for example, if the Argonauts are in favor by three points and win by a field goal), the bet is a push. All bets are null and void. Whatever you put your money on the line will be back into your account.

Totals Betting

Totals, which are often referred to as over/under, are a type of wager in which the bettor wagers on whether or not the cumulative score of a sporting event will go above or under the predefined total that has been set by the oddsmakers. Both the over and the under will have the same total, but just as with the point spread, there is a possibility that the juice may shift toward one side or the other.

A wager on the game between the Argonauts and the Roughriders Over 47.5 (-105) requires that you score 48 points or more to pay your ticket, and you will need to risk $105 for every $100 that you want to make a profit. When placing a wager on the Under 47.5 (-115), the player must risk $115 to earn $100 if there are 47 total points or less in the game.

In a manner analogous to that of spreads, there are two aspects to consider: the actual number and the odds associated with placing the wager. One website may have the same total, but somewhat different juice, or the number might be different along with the costs, and you will need to pick from the many possibilities available to you.

Futures

A gamble on the future is a long-term bet whose outcome is uncertain until you guess it at some point in the future. These bets are popular not only because there is a possibility of gaining profit from them but also because they provide the bettor something to root for throughout the course of more than one game or day.

Bets on who will win a league championship in the future are the most obvious illustration of this phenomenon. Still, it also applies to competitions for individual sports and even individual honors in team sports.

It is possible to place futures bets on the champion of a league’s championship, such as the Super Bowl or Grey Cup, on the winner of specific events, such as the Masters or Wimbledon, or even on individual player accomplishments, such as who will win the next NBA Most Valuable Player award.

In discussions about team sports, the presentation of probabilities for future events is typical during the winter. If we take the next winner of the Gray Cup as an example, you may anticipate seeing future odds posted not long after the results of the most recent competition have been tallied. The lines will be live for the whole season and adjusted weekly based on the outcomes of the previous week.

You should always research before purchasing, but probably never more so than when you are betting futures. There is a great deal of uncertainty regarding the outcomes of these bets. This is because the settlement date is still so far in the future, which applies to both the gamblers and the oddsmakers.

That indicates a significant variation in these lines from site to site. Also, having many accounts is one way to increase the likelihood that you will obtain the greatest line.

How To Find The Best Odds

Before you place any bets, you should always make it a point to check that you are receiving the greatest possible odds by taking the time to do so, as was described previously. Exactly how do you go about doing that?

If you want to keep things simple, just know that “line shopping” means checking out the odds at other sportsbooks when placing the same exact bet. Our real-time odds feed is a great tool for this.

To illustrate this point with a simple scenario, let’s imagine you have an interest in placing a moneyline wager on the Toronto Raptors rather than the Boston Celtics. If you go to DraftKings and check the odds, you’ll see that Toronto has odds of -130, which translate to 1.77. As you check other bookies, you discover that BetMGM and Caesars have the same point spread for the Raptors. However, FanDuel has the Raptors priced at -125, equivalent to 1.80.

The insignificant difference isn’t a game-changer by itself, but it may significantly affect your bottom line if you let it. Every advantage you have when placing bets on sporting events such as the FIBA world cup increases your chances of making money in the long run, which is one of the primary motivations for doing so. Considering the information shown above, the only site where you should be putting your wager on the Raptors moneyline is FanDuel.