Tuesday, Dec 05, 2023

Sports Betting Canada: Top Online Sportsbooks

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Sports Betting Canada: Top Online Sportsbooks

Check the top sports betting sites in Canada. Enjoy plenty of sports, valuable bonuses and great odds.

Sports Betting Canada
Sports Betting Canada

Canadian sports bettors have access to endless betting opportunities. However, not all options are worth exploring. This guide reviews Canada's top sports betting sites, focusing on sports offerings, welcome bonuses, customer service, and more. With this knowledge, you can make informed decisions about the online betting site you want to join.

We also provide information on the following topics related to sports betting:

  • Setting Up a Betting Account
  • Making Deposits Into Your Account
  • Understanding How to Claim Bonuses
  • Placing Your First Bet
  • Withdrawing Funds From Your Account

Sports Betting Canada: The Best Betting Sites

  • BetOnline : Canada’s Best Sports Betting Site for Live Betting
  • Sportsbetting.ag : The Most Generous Welcome Bonus
  • Bodog.eu : The Best for Cryptocurrency Canada Sports Betting
  • GTBets : Excellent Customer Support for Canadian Bettors
  • MyBookie : Amazing to Bet on Mobile Devices
  • Xbet : Versatile Betting Options with Tons of Features
  • BUSR : The Most Interesting Sports Welcome Bonus
  • EveryGame : Secure Payment Methods for Deposits & Withdrawals

Best Sports Betting Sites Canada

BetOnline : Best for Live Betting

BetOnline : Best for Live Betting
BetOnline : Best for Live Betting

Welcome bonus offer 1: Up to $1,000 on your first deposit

Welcome bonus offer 2: Up to $1,000 on your first crypto deposit

Date Established: 2004

Owned by: Privately owned, CEO: Eddie Robbins III

Licensing: Panama Gaming Control Board

Legal: Yes

Betting types: Sports betting on all popular sports, live betting, racebook, online casino, esports, poker, contests

Platforms: PC, mobile

SSL Encryption: Yes

Support channels : Live chat, email, phone

Rating: 9/10

BetOnline is a top-notch sportsbook that offers betting on anything from the National Football League to basketball to darts and snooker. In addition to sports, BetOnline also has a selection of other casino games like poker.

BetOnline has two welcome bonuses, which depend on your chosen payment method. The first is a 50% sports welcome bonus of up to $1,000 for initial deposits made via “traditional” payment methods. The second is a 100% match deposit bonus worth up to $1,000.

The sportsbook accepts popular payment methods such as Visa, Bitcoin, American Express, and Mastercard. The sportsbook’s payout speed is fast and customer support is always available to help you with any questions or concerns.

Sportsbetting.ag : Generous Welcome Bonus

Sportsbetting.ag : Generous Welcome Bonus
Sportsbetting.ag : Generous Welcome Bonus

Welcome bonus offer: Up to $1,000 welcome bonus

Established In: 2011

Owned by: BetOnline brand

Licensing: Panama Gaming Control Board

Legal: Yes

Betting types: Sports betting, live betting, racebook, online casino, esports, poker, contests

Platforms: PC, mobile

SSL Encryption: Yes

Support channels: Live chat, email, phone

Rating: 9/10

Sportsbetting.ag offers bettors a wide range of popular and niche sports. In addition to popular sports like football, basketball, baseball, and hockey, you can also bet on niche sports like darts, rugby, and cricket. In addition to sports, the sportsbook offers a range of casino games, including slots, table games, and live dealer games.

The welcome bonus at Sportsbetting.ag is one of the best on this list. The site offers a 50% welcome bonus up to $1,000, which is a great way to start your online betting journey.

Banking methods at SportsBetting are also great, with a wide range of deposit and withdrawal methods, including credit cards, e-wallets, and cryptocurrencies. Payouts are speedy, with most withdrawals being processed within 24 hours.

Customer support at Sportsbetting.ag is available 24/7 via phone, email, or live chat.

To claim this generous welcome bonus, sign up with Sportsbetting.ag.

Bodog.eu : Best for Cryptocurrency Betting

Bodog.eu : Best for Cryptocurrency Betting
Bodog.eu : Best for Cryptocurrency Betting

Welcome bonus offer: 100% up to $600 welcome bonus

Established In: 1994

Owned by: Calvin Ayre

Licensing: The Antigua and Barbuda Financial Services Regulatory Commission

Legal: Yes

Betting types: Sports betting, online casino, live casino, poker

Platforms: PC, mobile

SSL Encryption: Yes

Support channels: Live chat, email, phone

Rating: 8.5/10

Canadian sports bettors are spoilt for choice regarding sports betting options. In addition to a wide range of popular sports, such as football, baseball, basketball, and hockey, you can access a decent online casino collection. Other sports available include college football, college basketball, MMA, NASCAR, boxing, soccer, and more.

The site is user-friendly. If you click on the sportsbook, you will land on a page where the hottest trending events are listed on the right-hand side of the screen. Here you’ll find events like the NBA playoffs series, NBA Daily specials, NHL MLB, PFL 3 MMA, and much more.

At the bottom of the page, you’ll note the odds by sports category. So, there is no need to wade through hundreds of odds to find what you’re looking for. The site is wholly mobile-optimized so you can access everything directly from your mobile browser.

You can use a variety of bet types to place wagers on sports. The site offers parlay bets, futures, prop bets, and straight bets, to name a few. For the first online bet, the site offers a 100% match bonus on your first deposit at the site.

The maximum bonus amount is $600, with a 5x wagering requirement for both your initial deposit and the bonus amount. Although the playthrough requirements apply to both the bonus and deposit, it is still low compared to other online sports betting sites.

Payment and withdrawals can be made using e-wallets, credit cards, and crypto. Note that minimum deposits differ depending on your chosen payment method. For example, you have to deposit at least $20 with a credit card, while with cryptocurrency, you can deposit as little as $10.

All deposits are instant, so you can start playing immediately. Withdrawals are limited to checks and cryptocurrencies. Withdrawals via cryptocurrency are processed within 24 hours, while a check can take up to two weeks.

Customer support is available 24/7 through email or live chat. You can also contact them via phone if you prefer to talk directly.

To get started with cryptocurrency betting, join Bodog.

GTBets : Excellent Customer Support

GTBets : Excellent Customer Support
GTBets : Excellent Customer Support

Welcome bonus offer: Up to $750 welcome bonus

Date Established: 2011

Owned by: Goldrush Gaming Group

Licensing: Curacao

Legal: Yes

Betting types: Sports betting, online casino, horse racing

Platforms: PC, mobile

SSL Encryption: Yes

Support channels: Live chat, email, phone

Rating: 8.5/10

GTBets offers a wide variety of sports to bet on, including popular ones like football, basketball, and baseball, as well as niche sports like table tennis and darts. They also offer horse racing, which is a nice bonus.

In terms of welcome bonuses, GTBets offers a generous one. You can get up to $500 in bonus funds on your first deposit, which boosts your bankroll. This is followed by another bonus on your second deposit, valued at up to $250.

Regarding banking methods, GTBets offers a good variety of options. They accept credit cards, Bitcoin, and several other e-wallets. Furthermore, GTBets customer support is available around the clock via live chat.

For an exceptional mobile betting experience, sign up with GTbets.

MyBookie : Best for Mobile Betting

MyBookie : Best for Mobile Betting
MyBookie : Best for Mobile Betting

Welcome bonus offer: Up to $1,000 welcome bonus

Date Established: 2015

Owned by: Privately held

Licensing: Curacao and Costa Rica license

Legal: Yes

Betting types: Sports betting, online casino, horse racing

Platforms: PC, mobile

SSL Encryption: Yes

Support channels: Live chat, email, phone

Rating: 8.5/10

Founded in 2014, MyBookie is an online sportsbook that caters to Canadian bettors. On top of offering a wide range of sports betting markets, MyBookie also offers enticing bonuses and convenient banking options and has an excellent customer service team that is available 24/7.

We love the site's minimalistic design, as it makes it extremely easy to navigate. This site makes it easy to place your first online bet. Also, you can view the odds before you open an account at the sportsbook, which is not something that most online sportsbooks allow.

Sports bettors can bet on all major sports, such as the NBA, NHL, MLB and NFL. You can also bet on horse racing, auto racing, soccer, tennis, college sports, and other events such as the Olympics.

With MyBookie, you can make payments with Visa, Mastercard, Litecoin, Bitcoin, Bitcoin Cash, and credit cards. Credit card deposits start at $45; the maximum is $1000. Cryptocurrencies have no maximum deposit limit, but their minimum deposit is $20. E-checks or Bitcoin are accepted for withdrawals.

A 50% deposit bonus of up to $1000 is on offer for new players. You must deposit at least $50 to take advantage of this bonus. Also, note that the promo code MYB50 must be entered when using this bonus.

If you prefer casino games, the site matches your first deposit of 150% up to $750. Besides that, there's a 200% referral bonus, a 25% sports reload bonus, and an 8% horse rebate for racing fans. Players can also take advantage of the loyalty program, where they earn points for every bet. Like most rewards programs, you can exchange points for cash bonuses.

The customer support team is open 24 hours a day, seven days a week, by email, phone or live chat, so you can contact them anytime.

If you love to bet on the go, sign up with MyBookie.

Xbet : Versatile Betting Options

Xbet : Versatile Betting Options
Xbet : Versatile Betting Options

Welcome bonus offer: 50% up to $500 on your first deposit

Date Established: 2014

Owned by: N/A

Licensing: Curacao

Legal: Yes

Betting types: Sports betting on all popular sports, live betting, racebook, online casino, esports, poker, contests

Platforms: PC, mobile

SSL Encryption: Yes

Support channels: Live chat, email, phone

Rating: 8/10

Sports bettors can bet on anything from sports betting to horse racing and casino games when they sign up with Xbet. The most popular sports on the site include American football, basketball, soccer, tennis, and Aussie rules. However, some niche sports are also available, such as cycling, darts, and snooker, if you want to try something new.

You can also choose from a wide variety of slots, table games, and poker games on the casino section of the betting site. All in all, with this betting site, you can bet on sports, as well as casino games, so there is no need to open an account at an online casino as well (unless you want to).

Your first Xbet deposit will be matched 50% up to $500. To claim the bonus, you have to deposit at least $45. Also, note that you have to wager the bonus seven times before withdrawing it or any winnings resulting from it.

Furthermore, whenever you top up your sportsbook account, you get a 25% reload bonus up to $250. Wagering requirements for reload bonuses are 5x. You can also receive a welcome bonus when you sign up to play at the casino, reload bonuses for the casino, and rebates when you bet on horses.

There are plenty of deposit and withdrawal options at Xbet, including MasterCard, Person2Person, Bitcoin, Visa, Bitcoin Cash, Litecoin, and BNB, to name a few. For most payment methods above, the minimum deposit is only $20. However, there is a minimum deposit of $100 for Person2Person and $50 for Visa and Mastercard. So choose carefully.

If you have questions about the sportsbook, customer support is available 24/7 via email, phone, and live chat.

To enjoy a wide range of sports betting options, join Xbet.

BUSR : Best Welcome Bonus

BUSR : Best Welcome Bonus
BUSR : Best Welcome Bonus

Welcome bonus offer 1: 150% up to $2,500 on your first deposit

Date Established: 2014

Owned by: Duranbah N.V.

Licensing: Curacao

Legal: Yes

Betting types: Sports betting on all popular sports, live betting, racebook, online casino, esports, poker, contests

Platforms: PC, mobile

SSL Encryption: Yes

Support channels: Live chat, email, phone

Rating: 8.2/10

BUSR is known for its generous sports betting bonuses. Furthermore, the site has excellent customer support, a wide range of sports to bet on, and hundreds of casino games at your fingertips.

BUSR offers different types of betting, including sports betting, casino games, and horse racing. Basketball, baseball, hockey, and football are just some sports you can bet on this betting site. Other less popular choices are darts, futsal, cycling, and non-sports events like politics.

The Busr sportsbook offers one of the biggest bonuses in the industry for Canadian sports bettors. When you make your first deposit at the sportsbook, you will receive a $2,500 welcome bonus as a reward. The bonus has a 20x playthrough requirement, which is only open to new members.

You can reach Busr customer support by email, phone, and live chat. There is a 24/7 team available to help.

Join Busr today for the biggest bonus to spend on a wide range of sports.

EveryGame : Secure Payment Methods

EveryGame : Secure Payment Methods
EveryGame : Secure Payment Methods

Welcome bonus offer: 100% up to $250 on your opening deposit

Established In: 1996

Owned by: Thinkquick Ltd

Licensing: Curacao

Legal: Yes

Betting types: Sports betting on all popular sports, live betting, online casino, esports, poker, contests

Platforms: PC & Mobile

SSL Encryption: Yes

Support channels: Live chat & Email

Rating: 8.6/10

EveryGame offers online sports bettors from Canada various sports betting markets to bet on. Some popular sports you can bet on include soccer, tennis, table tennis, basketball, ice hockey, motorsports, boxing, Aussie rules, darts, snooker, and so many more. To switch things up, you can also bet on non-sports options, such as the stock market and politics. Additionally, there is a live betting section on the betting site.

You can top up your account or withdraw winnings through Mastercard, Visa, EcoPayz, Neteller, bank wire transfer, Ukash, Skrill, Paysafecard, and cryptocurrencies like Bitcoin, Litecoin, and Bitcoin Cash at the online sportsbook.

EveryGame customer support is only available via live chat and email right now. However, this should be fine for most online bettors, as live chat is the preferred option due to fast response times.

If you want a wide range of secure payment methods, join EveryGame.

Is Sports Betting Legal in Canada?

Previously, Canadian bettors were prohibited from participating in single-event sports betting. However, after single-game sports betting was legalized in Canada, more provinces have started legalizing online sports betting. As a result, Canadian bettors now have more options for betting online. The following provinces in Canada have legalized online sports betting:

  • British Columbia
  • Ontario
  • New Brunswick
  • Alberta
  • Manitoba
  • Newfoundland and Labrador
  • Prince Edward Island
  • Saskatchewan
  • Nova Scotia
  • Quebec

Single-game wagering is legal to bet on sports online in these provinces.

The History of Sports Betting in Canada

Single-game wagering has been legal to bet on sports throughout the history of sports betting in Canada; one thing has remained constant - the pursuit of luck and entertainment. From dice games played by the natives over 600 years ago to horse race betting and the popular Proline tickets of today, gambling has evolved in Canada.

However, gambling was outlawed in 1892, leaving horse race betting as Canada's only legal form of gambling. It wasn't until 1969, when the Canadian Criminal Code was revised that the federal and provincial governments were allowed to run lotteries for charitable purposes.

As Canadian governments recognized the financial potential of gambling, they began to expand their involvement. They have since taken control of slot machines and other gaming equipment. Legalized sports betting in Canada has also become more widespread.

With its rich history and recent growth, sports betting in Canada is expected to continue evolving in the years to come.line in these provinces.

Sports Betting Odds Explained

To explain sports betting odds, they represent the probability of a particular event occurring. Three main types of sports betting odds exist: decimal, moneyline, and fractional.

Decimal Odds

Online sportsbooks commonly use decimal odds and represent the potential payout based on the stake. The lower the decimal odds, the higher the likelihood of the event taking place.

Moneyline Odds

Also known as American odds, Moneyline odds use plus or minus signs to indicate the favorite and underdog in a match. The negative number indicates the favorite, while the positive number represents the underdog.

Fractional Odds

Fractional odds, prevalent in the UK and Ireland, are written with a slash or hyphen. They help bettors calculate their potential winnings based on the amount they wagered.

Types of Bets Available at Sportsbooks

This section will discuss the most common wagers at licensed sportsbooks. Understanding these bet types will help you navigate the available betting options and choose the best wager for your needs.

Moneyline Bets

Moneyline bets are the simplest type of bet you can make. They involve picking the winning team of a particular game. Moneylines are often listed alongside point spreads and totals as one of the first bets available. The odds for moneyline bets can vary widely, with the favorite having short odds and the underdog having long odds.

Point Spread Bets

Point spread bets involve the relative strengths of two teams playing a particular game. The sportsbook will provide a point spread, and bettors can place wagers on either the favorite or the underdog to cover the spread.

Over/Under Bets

Over/under bets involve whether a particular game stat will be higher or lower than a predetermined figure. The most common over/under bet is the total score of two teams in a game. Bettors can bet on whether the game's final score will be above or below a certain number of points.

Parlay Bets

Parlay bets combine multiple bets into a single wager, often increasing the potential reward and risk. Every individual bet within the parlay must win to win a parlay bet. If even one bet within the parlay loses, the entire parlay is considered a loss.

Teaser Bets

Teaser bets involve trading points for better odds. Bettors can submit a parlay of two or more picks and receive certain points in exchange. Teasers often require bettors to purchase six points for football games and four for basketball games.

Prop Bets

Prop bets are bets that are not necessarily concerned with the outcome of a game. They often involve information about individual players or teams unrelated to the game's final result. Prop bets can cover many possibilities and outcomes and are available for many sports.

Futures Bets

Futures bets involve wagering on events that will occur in the future. The most common example is betting on a team to win a championship. Futures odds can change throughout the season, so placing them early to lock in a good line can be advantageous.

Live Betting

Live betting, also known as in-play or in-game betting, involves placing wagers on a game already underway. Live betting is popular among avid sports fans who watch games live and enjoy the rapidly changing odds.

Sports Available on Canadian Betting Sites

Bets can be placed on a variety of sports on Canadian betting sites. NHL hockey, NBA basketball, and CFL football are the most popular. However, our best online betting sites offer much more, including soccer, cricket, rugby, tennis, snooker, golf, table tennis, darts, and volleyball. Most of these sports are also available for live betting, so you can bet on them as they unfold. Other betting options include esports, virtual sports, politics, the stock market, entertainment, pop culture, etc.

Types of Sports to Bet On in Canada

Canada has a rich sports culture, so there are numerous opportunities to wager on different sports. Here are some of the most popular sports to bet on in Canada.

Betting on Ice Hockey

Ice hockey is Canada's most popular sport, with millions of fans nationwide. While only the best players get to play at the highest levels, fans can support their home team and country by placing bets online.

Betting on CFL Football

While the Canadian Football League (CFL) may not be as well-known as the NFL, it is still an excellent option for Canadian football fans who want to bet on their favorite teams. With nine teams competing in two geographic divisions, there are plenty of opportunities for online betting during the regular season.

Betting on Basketball

Basketball is a global sport, but it remains prevalent in North America, where the National Basketball Association (NBA) is based. With notable Canadian players like Steve Nash and Jamal Murray, there is a lot of passion for the sport among Canadian fans.

Betting on Soccer

Soccer is growing in popularity in Canada, with teams like CF Montréal, Toronto FC, and the Vancouver Whitecaps playing in Major League Soccer. The men's national team has also qualified for the 2022 World Cup, and the current team boasts some talented players.

Betting on Lacrosse

Lacrosse may be less well-known outside North America, but it is popular in Canada. The sport was recognized as Canada's national sport in 1859, and there were many opportunities to bet on lacrosse.

How We Rate Top Canadian Betting Sites for Sports

When choosing an online sportsbook, there are various factors to consider. Here are some of the factors we consider when rating sports betting in Canada.

Licensing and Regulation

Firstly, we ensure that the sportsbook is licensed and regulated by a reputable authority. This indicates that the site is legitimate and trustworthy.


Secondly, we check whether the sportsbook uses state-of-the-art encryption technology to protect users' personal and financial information.

Betting Options & Odds

Then we look at the variety of sports and betting options available. A good sportsbook should offer a wide range of sports and markets to bet on. We also assess the competitiveness of the odds by the sportsbook. The better the odds, the better your chances of winning.

Bonuses and Promotions

We consider the bonuses and promotions offered by the sportsbook, such as welcome bonuses, free bets, and loyalty programs.

Customer Service

We test the quality and responsiveness of the sportsbook's customer service through various channels such as live chat, email, and phone.

By considering all of these factors, we can rate the top online Canadian sportsbooks and provide users with reliable and trustworthy options for online sports betting.

Creating an Account for Online Sports Betting

Signing up for an online sportsbook account is a quick and straightforward process. Most of the top sportsbooks aim to make the process as easy as possible for users. The standard steps for opening an account for online sports betting in Canada are as follows:

  • Access the website: Access your preferred online sportsbook.
  • Sign up: Choose a unique username and password and keep this information safe.
  • Enter personal information: Enter your personal information, such as your full name, contact number, and address.
  • Enter promo code: To claim a welcome bonus enter the promo code on the promotions page.
  • Complete registration: Review and agree to the terms and conditions before completing the registration.
  • Choose banking method: Choose your preferred banking method and proceed with the deposit process.
  • Choose sport: Select your favorite sport to bet on.
  • Start betting: Place your first bet.

Making a Cash Deposit to Your Online Sportsbook Account

Depositing cash into your online sports betting account is a straightforward process, and many top sportsbooks have streamlined it for your convenience. Canadian bettors can also choose from a variety of standard deposit methods. If you're unsure how to proceed, follow the steps below:

  1. Navigate: Navigate to the "deposit" option in your sportsbook's banking or cashier section.
  2. Deposit method: Choose your preferred deposit method and the amount you wish to deposit.
  3. Complete transaction: Complete the deposit. This may redirect you to the payment method's page to finalize the transaction.
  4. Submit: Click the "submit" button to process the deposit.
  5. Wait: Wait for the transaction to be processed.

Popular Canadian deposit methods include Visa, Mastercard, EcoPayz, Neteller, Ukash, Interac, Paysafecard, Skrill, and various cryptocurrencies. However, if you plan to use crypto, ensure the platform supports it.

A Guide to Withdrawing Your Betting Winnings Online

Regarding online sports betting, withdrawing your winnings is a crucial part of the process. While it shares some similarities with depositing cash, there are a few significant differences to remember.

Here's a step-by-step guide to withdrawing your cash:

  • Withdraw: Access the banking/cashier section and select "withdraw."
  • Choose method: Choose your preferred withdrawal method and try to use the same option you used for depositing.
  • Decide about the amount: Enter the amount you want to withdraw. You may need to complete the KYC (Know Your Customer) procedure, which might involve submitting a copy of your ID and address verification documents.
  • Confirmation: Verify the withdrawal using the mobile app of your banking method.
  • Wait: Wait for the withdrawal to be processed and the cash to be reflected in your account.

The most common withdrawal options available for Canadian bettors include Visa, Mastercard, EcoPayz, Bank Wire Transfer, Neteller, Ukash, Interac, Skrill, and Cryptocurrencies. However, withdrawal timeframes may vary depending on your payment method, so it's essential to opt for the most secure and fastest option available.

Steps to Claim a Bonus on a Sportsbook

Online sports betting comes with various bonus offers, which can be a great way to get started with sports betting. Claiming these bonuses is usually a simple process and can give you a head start. Here's what you need to do:

  • Create an account: Choose an online sportsbook and create an account.
  • Navigate: Navigate to the bonus section in the banking area of the sportsbook.
  • Claim the bonus: Select the bonus offer you want to claim. Depending on the sportsbook, you may need to make a cash deposit or use a promo code to claim the bonus.
  • Confirmation: Once you've completed the required steps, wait for confirmation of the bonus offer. This process is usually quick.
  • Bet: Start betting by placing your opening bet. Make sure to read the terms and conditions of the bonus offer to make sure everything is understood.

Beginner's Guide to Placing Your First Bet

For those who are new to online sports betting, the numerous betting types available can be overwhelming. However, with some practice, the process becomes much more manageable. To get started, follow the steps below and familiarize yourself with the various types of bets available.

  • Go to the league you want to bet on.
  • Click on the betting cell within the league.
  • Enter the amount you want to bet, keeping in mind any betting limits set by the sportsbook.
  • Confirm your bet and wait for the outcome.

Betting on a Mobile App or Website

Placing bets has become more convenient and discreet with the help of technology. You no longer need a computer desktop to access a betting website. Various Canadian sports betting apps allow you to place bets on sports like hockey, cricket, and horse racing.

While mobile apps are gradually replacing the need for a computer, many users still need to learn about the differences between each format. One significant benefit of using a mobile app is the convenience of placing bets from anywhere, and another is the enhanced display on mobile devices.

Responsible Online Betting in Canada

As online betting sites continue to grow in Canada, more and more people are trying their luck with online gambling. While it can be fun and rewarding, it can also be dangerous if not done responsibly. Therefore, responsible gambling is crucial.

It is recommended to set a budget and stick to it. This means you should only bet with funds you can afford to lose and avoid placing additional bets to make up for losses. Also, avoid gambling when you are under the influence of drugs or alcohol, as it can impair your judgment and lead to reckless gambling.

Tax Implications for Sports Betting Winnings in Canada

Fortunately for Canadian sports bettors, online sports betting winnings are not subject to taxation. Under paragraph 40(2)(f), the Canadian Income Tax Act exempts individuals from paying taxes on gambling winnings, including lotteries, horse racing, sports betting, and online casinos.

However, if you earn interest on your betting profits, this must be reported on a T5 form as taxable income. Failure to report such income could result in severe penalties.

Online Sports Betting Revenue Projections for Canada

The financial potential of online sports betting in Canada is immense, with revenue projections estimating profits in the millions of dollars over the next five years. The market is heavily saturated, and more sports betting operators are seeking to enter the industry.

However, before they can tap into the vast potential of the Canadian market, operators must apply to the Alcohol and Gaming Commission of Ontario. To stand out from the competition, operators must offer unique features and bonuses to attract bettors and encourage them to invest more money into their platforms.

FAQs: Sports Betting Canada

Is betting on sports online legal in Canada?

Yes, online sports betting is legal in Canada as long as a provincial government licenses the website or operator.

What sports can I bet on in Canada?

You can bet on various sports in Canada, including hockey, football, basketball, baseball, soccer, and more.

How do I know if a sportsbook is legitimate?

If a provincial government licenses the website and has a good reputation, it is usually legitimate.

Can I bet on international sporting events?

Yes, you can bet on international sporting events, but make sure the website or operator allows it and follows any regulations.

What is a moneyline bet?

This is the easiest bet and involves betting on the team you think will win.

Can I bet on individual player performance?

Yes. An example of a bet placed on player performance would be the total points scored.

What is live betting?

Live betting is when you place bets while the game is in play, with odds changing in real time.

How do I withdraw my winnings from an online sportsbook account?

Standard withdrawal methods include credit/debit cards, e-wallets, cryptocurrency, and bank transfers. Note that some methods do charge fees for withdrawals.

Conclusion: Best Canadian Sports Betting Sites

When choosing an online sports betting site, there are a lot of factors to consider, such as the welcome bonus, sports betting markets, customer support, deposit and withdrawal methods, mobile compatibility, and more. This can be a lot for a new bettor, so we compiled this guide of the best Canadian sports betting sites. We’ve done all the hard work for you. All left to do now is find the best site for you and sign up!


Disclaimer: The above is a sponsored post, the views expressed are those of the sponsor/author and do not represent the stand and views of Outlook Editorial.