Skip to content 
Best Betting Sites Canada 2024
Betting sites are online platforms where players can place wagers on a variety of sports events in Canada, including horse racing, hockey, basketball, and more. If you’re looking to start placing bets, we’ve curated a list of Canada’s top betting sites and bookmakers. Each site is carefully selected and rigorously reviewed by our team of experts. Discover more about sports betting, the different types of bonuses you can take advantage of, and the most popular sports events available.
- Memito
- Last updated: August 23, 2024
Top Betting Sites in Canada 2024
How to Sign Up on Betting Sites
To start betting, follow these registration steps:
What Are Betting Odds?
Betting odds are numerical representations of the probability of a sports event occurring and help determine the potential return on a bet. To assess your bets’ potential risk and reward, it’s important to understand the different types of odds. Betting odds play a crucial role in evaluating the quality of a sports betting site. Higher betting odds result in greater payouts when you win. The odds remain consistent whether you’re betting from a desktop computer or using a bookmaker’s betting app.
These odds are expressed in the following formats:
- Fractional odds
- Decimal odds
- Moneyline odds
Fractional Odds
Fractional odds show the profit relative to your stake. For example, if you bet €100 at 2/1 odds, you’ll receive €300—this includes your €100 stake and €200 profit.
Decimal Odds
Decimal odds are expressed as whole numbers rather than fractions and include the stake in the total payout. If you bet €100 at odds of 4.00, you will receive €400. This includes your original €100 stake and €300 profit. Decimal odds are popular because they are easier to understand, provide more options, and make calculating returns simpler.
Moneyline Odds
Moneyline odds indicate potential profit or loss on a bet. If you bet €100 and see +200, you can win €200 on a €100 bet. Conversely, if you see -150, you need to bet €150 to win €100.
Understanding Payouts
Payouts are the total amount of money you receive when your wager is successful. To calculate your payout, simply multiply your stake by the odds offered. The formula is as follows:
Payout = Stake x Odds
For example, if you place a €50 bet on a team with moneyline odds of +150 and your bet wins, your total payout would be €125. This includes your original €50 stake and a €75 profit.
Remember that odds and payouts can vary depending on the type of odds used and the operator’s terms and conditions. To maximize your payouts, it’s essential to understand how odds work and how to calculate potential payouts to make informed decisions.
Payment Methods at Sports Betting Sites
There are several popular and convenient payment methods available at Canadian online sports betting sites. For sports betting enthusiasts, choosing the right payment method is essential, as it can impact withdrawal speed, transaction fees, and the ability to meet specific bonus terms and conditions. Canadian players can choose from options such as bank transfers, card payments, and e-wallets.
