How to place Sports Bets can be a tricky subject to understand for a beginner. Sports Betting, specially in Canada, is the best money-making industry in the world.
Enjoyed by millions of people globally Canadians included, it is mostly played as a hobby. Living in Canada and wishing to start betting on sports, but unsure about where to start, read the article to know how to place sports bets.
Common questions Canadian residents have about sports betting in the country are:
- Is sports betting legitimate?
- Where to find the best place for sports betting?
- What is the best approach to do it without fuss?
How to Place Sports Bets : The Legality
The laws for sports betting in Canada are too strange and outdated. The key thing is Canadian residents can feel free to place bets on sports with no worries of illegal activity.
The laws of Canada strictly state that casino or sportsbook operating in the country requires to have a government-issued gambling license, like Kahnawake Gaming Commission license. The law does not state that Canadian can use services of gambling businesses. Canadians, therefore, can freely use the services of offshore sportsbooks.
There are many online sportsbooks, registered in places like Cyprus, Isle of Man or Gibraltar, which accept Canadian players without exceptions. While looking for how to place sports bets, always keep in mind while gambling on an offshore website is to ensure they have a valid license to protect you and money in case of wrongdoings.
How to Place Sports Bets : Best Tips
Placing a sports bet is simple. All require to do is fill in bet slip with the bets you wish to make and choose the amount to wish to bet. Whether you’re betting online, potential profit will be calculated straight away. When new to betting on sports in Canada, to need help on how to stay safe and increase chances of winning.
Choose sportsbook wisely.
Choosing the online sportsbook makes the bets, definitely the most important step. Your ideal sportsbook website must accept players from Canada and have a decent choice of payment methods for them. The sportsbook you’re frequenting must be licensed by a reputable gambling authority, like Malta Gaming Authority, the Kahnawake Gaming Commission, or the United Kingdom Gaming Commission. Ensure to check out available betting markets before signing up for an online sportsbook account. It would be better to verify the support of the sports which you are knowledgeable and prefer about betting on. Avoid sportsbooks accepting players from the USA. In the USA, sports betting is legal only in some states. Unfortunately, it is still not legal everywhere. Because of that, some sportsbooks accepting players from the USA are operating illegally. If you play in a sportsbook, you are risking losing money when the website gets taken down.
Manage your Bankroll
Before starting to bet in sports, learn how to do bankroll management, determine the money comfortable to work with. Bankroll must be the amount of money willingly to be spent regularly. Controlling potential losses, and ensure a positive balance, ensure never to exceed limits.
Avoid paying fees
The number of online sportsbooks is growing every day. That means you have a wide choice of websites where to register and play. Avoid registering for those who have very steep fees. To avoid paying a fee, depending on the payment method, you’re using. Many of the sportsbooks provide free withdrawals, while some don’t. Try to play on those websites which provide one free withdrawal at least, per month. This will be enough to make regular free payouts. Try to exchange fees for Canadian players that may quickly add. Try to find a website that supports Canadian Dollars to avoid end up paying more than required.
Take benefits from promotions and bonuses.
Sportsbooks worldwide give exciting bonuses and promotions which must always be tried, and advantage must be taken. They, including Canadian sportsbooks, frequently give away first deposit bonuses, cash-backs, loyalty programs, and so on. With a bit of luck, earn bonus cash to turn into real cash. Make the most of sports bets in single online sportsbook, benefit from the loyalty program, that will be rewarding for you. Therefore, it’s a good idea to stay loyal to one business because of that.
How to Place Sports Bets : Deposit Methods
If you are a Canadian resident, making a deposit or a withdrawal can be either difficult or easy. It totally depends on the payment method used. You might be inclined to use a Visa or a MasterCard because of the protection banks offer. However, that might not always be possible. Canadian banks have banned gambling-related transactions for various reasons. Do not want to facilitate gambling, and to deal with the risks involved with chargebacks. Therefore, the best deposit methods for Canadian players include e-Wallets like IDebit, Click2Pay, Instadebit, Paysafecard, PayPal or Entropay.
How to Place Sports Bets : Explained and Odds Understood
Sports betting is an old sport. Betting on sports involves staking the amount of money on the result of a sporting event and to guess it correctly. Bettors generally try to predict the winner of a sports match, the number of fouls, the number of goals or points etc. When done properly, they will win and make a profit.
To determine how profitable is a bet and what is the probable outcome, bettors require to examine betting odds. Simply betting odds generally represent probability. The higher the odds particular outcome, The lower the probability, the larger the profit.
Canadian sportsbooks use decimal odds. 2.00 odd is a particular outcome having a 50% probability of happening. 1.5 odd is equal to a probability of 66.7%. To determine your potential profit, multiply the value of the odds with a stake.
How to Place Sports Bets : Types of Bets
Sports bets can be simple as well as complicated to make them. Place single bets or accumulator bets to make their own strategy. Place a money line bet, by predicting a certain team or a player to win the match. On the other hand, place total bets, to predict the number of goals/points to be scored in the game.
There are spread bets, known as handicap bets, to bet on the result of the game after a penalty. During competitions, you may place outright bets and try to guess the winner of the competition.