How the Odds Work
What’s great about sports betting is that the odds make it so that betting on the favourite is just as risky as betting on the underdog and vice versa. The money line shows how much you stand to win with a $100 bet. For example, if the money lines are +110 and -110 (very common), you would win $110 on a $100 bet. The spread number is the amount of points that the favoured team needs to win by in order for that bet to pay out.
For example, if the Senators have a -1.5 spread, they would be favoured to win by at least two points. If they were playing the Flames and their spread was +1.5, all they would have to do is win the game for there to be a payout. If the Senators won by only one point, all bets for both teams would be lost, which is how the casino makes their money with sports betting. The money line is most important to note when you are betting on a more obscure outcome, such as who will win MVP. Often, those can be as high as +3000, meaning you would win $300 on just a $10 bet.
Betting On Hockey
The most popular sport in Canada? I think that’s putting it lightly. Betting on hockey is hands down the most popular sports bet placed in the country, and being able to do it online is so convenient. Bookmakers that offer their lobbies to Canadian players will also commonly do promotions that particularly benefit those that place bets on hockey, and some even let you watch the game streaming live through their site!
Betting On Lacrosse
Lacrosse is the official Canadian summer sport, and it’s one of the oldest known sports played in North America. Canadians can bet on both box and field at the professional, minor, and college levels. At online sports books, you can type in the amount you want to bet before you actually place it to see what the payout will be if you win, and you can often even bet on the action as its happening.
Betting On Soccer
One of the more popular sports in Canada, soccer bets can be placed on teams at home and in other countries. While the MLS is not by any means an overlooked outlet to bet on, most Canadian players opt to place bets on European soccer, as it is normally filled with the best talent and the strongest teams. Betting on the World Cup is extremely popular as well, as is betting on other national team games and tournaments.
Betting On Horse Racing
Horse racing does away with the spread that you find at the betting on sports and is all about the money line. The less likely the horse is to win, the higher you stand to win, and you can disperse your bets on multiple horses. At betting exchanges like Betfair, you can actually bet on every horse except for one, which is an interesting change of pace from the standard, and you can also bet on virtual (computer generated) horse races at most bookmakers too.
Betting On Baseball
In baseball, you can bet on who wins, and you can also bet on stats. While that isn’t unique to baseball in terms of betting, the sport itself is very stats heavy, so being able to bet on how well a pitcher or batter does gives it an extra bit of oomph. You can also bet on runs scored in specific innings.
Betting On Football
At most sports books, you can bet on both the NFL and the CFL. In terms of the spreads, football betting is a personal favourite, because unlike in other sports, teams can score up to seven points at once, which can tip the odds very quickly. A simple field goal can also make or break a bet, which is also a thrilling component.