Sports betting has gained immense popularity among Canadians, highlighting the significant role sports play in the country. In order to assist you in engaging with the finest sports betting platforms in Canada, we meticulously assessed the leading brands based on factors such as enticing welcome bonuses, exciting promotions, diverse sports betting markets, convenient payment options, and numerous other aspects.
List of the top 5 Canadian betting sites:
- Sportsbet IO – Best Choice for Canadians Overall
- 20bets – Best odds for Soccer
- LoonieBet – Best Live Streaming service
- Freshbet – Great Sports Variety
- Betibet – The best choice for crypto betting
The experts behind the reviews
Greetings! I’m Adam, the Chief Editor at myfootbalbets.com. My primary role entails discovering various betting platforms and personally engaging in placing bets to assess their overall user experience. Additionally, I remain well-informed about the legal aspects associated with sports betting.
Hey there! I’m Lucas, the betting specialist at myfootballbets.com. My expertise lies in meticulously analyzing odds margins to identify the bookmakers that provide the most favorable value. Furthermore, I diligently scrutinize and compare the range of betting options offered by each bookmaker.
#1. Sportsbet IO – Best Choice Overall
Sportsbet.io provides a wide range of sports to bet on, with a diverse selection of markets and competitive odds for Canadian bettors.
- Odds Available in a Variety of Formats
- High Maximum Bet Limits
- 97% Payout on Top Markets
- Instantaneous Withdrawals
- Competitive Live Odds
Adam, why is Sportsbet IO your favourite?
Although Lucas may contend that Sportbets IO offers less favorable odds, the disparity is negligible, and in certain instances, this platform even presents superior odds compared to established counterparts such as Betibet and 20bets.
In addition to offering a plethora of features that enhance the betting process, Sportbets IO caters to the diverse needs of Canadian players with its intuitive mobile application and extensive selection of options. This broad appeal to a wide range of users solidifies its position as my preferred betting site.
#2. 20Bets – Best odds for soccer
20bets maintains a licensed and trusted brand image, emphasizing its commitment to providing a secure and fair betting environment.
- Available worldwide
- More than 30 sports
- Animations and Live Streaming
- No Edit Bet (we recommend Loonibet)
- Many restricted countries (we recommend Sportsbet.io)
Lucas, why is 20bets your favourite?
One aspect that truly appeals to me when it comes to betting is finding value, and in this regard, 20bets outshines all other sportsbooks in Canada. It’s worth highlighting that the betting odds offered by this site are exceptional, ranking among the best globally and undoubtedly the finest in Canada.
If you are seeking a trustworthy and secure option that provides abundant choices and various betting markets, I strongly recommend following my lead and opting for 20bets.
#3. LoonieBet – Best Live Streaming service
Looniebet offers expansive coverage of various sports, accompanied by an impressive odds margin of 91%
- Diverse odds formats.
- High odds guarantee.
- Decent welcome bonus.
- Live betting and animation.
- Wide sports coverage.
- Limited markets.
- No downloadable apps.
Why LoonieBet?
LoonieBet introduces an impressive introductory offer exclusively for new customers from Canada, presenting a remarkable welcome bonus that matches 100% of their initial deposit up to C$ 300. To activate this enticing bonus, all you need to do is make a qualifying deposit of C$ 20 or more. Once completed, you will be required to place bets on an event with odds of 1.50 or higher, utilizing the entire bonus amount.
It’s crucial to bear in mind that the bonus is subject to a rollover requirement of x6, meaning you must fulfill this condition by placing bets with minimum odds of 1.80 or greater. In-depth analysis indicates that such an exceptional offer plays a significant role in the projected growth of the online gambling industry, which is estimated to achieve a Compound Annual Growth Rate (CAGR) of 10.3% by 2030.
#4. Freshbet – Great Sports Variety
Over 10,000 monthly events to choose from and an average payout rate of 93.92%
- European & Asian View
- 10,000+ live events monthly
- More than 400 football markets
- Full Cash Out
- Edit Bet
- Mediocre in-play odds (we recommend Looniebet)
- 8%+ margin on tennis
- No Auto or Partial Cash Out
Why Freshbet?
Freshbet distinguishes itself through its extensive array of sporting events, encompassing over 40 choices that cater to a diverse range of interests. It goes beyond popular sports like basketball and football, venturing into more niche offerings such as bandy and water polo. The bookmaker prides itself on a remarkable overall payout rate of 94.40%, ensuring favorable odds and an advantageous betting experience for its users.
Soccer enthusiasts will find the odds to be highly competitive, particularly when it comes to esteemed leagues like the English Premier League (EPL), La Liga, and the Champions League. The platform grants access to more than 400 markets, presenting an extensive selection that includes Player Specials, Corners, Asian Handicaps, and Cards. This enriches the betting options, providing depth and variety.
#5. Betibet – The best choice for crypto betting
BetiBet provides an intuitive and user-friendly interface that makes placing live bets a seamless experience.
- Fast Withdrawals
- Crypto Friendly
- Impressive Sports Coverage
- Multilingual Website
- Unique Bonus Offers
- Notable Country Restrictions
- No Mobile App (we recommend 20bets)
- Complicated for Inexperienced Bettors (we recommend Sportsbet.io)
Why Betibet?
Betibet’s sportsbook presents a wide array of betting markets, encompassing more than 1,000 sporting events. Although soccer holds a prominent position, the platform also delivers exceptional betting choices for hockey, baseball, football, basketball, tennis, and cricket.
Apart from these widely followed sports, Betibet extends its offerings to encompass a diverse range of bets for less conventional sports such as Gaelic hurling and rugby. For top-tier sporting spectacles like the NFL, users can anticipate discovering an extensive selection of over 100 betting markets, which grants them abundant opportunities to place a diverse range of bets.
How we rate Canadian Betting Sites
When it comes to choosing the best sports betting sites in Canada, the vast selection available can make it difficult to identify the most exceptional options for bettors. Finding a trustworthy sportsbook that meets your needs and safeguards your wagers and winnings requires careful consideration of several key factors. These are the very aspects we meticulously evaluate when reviewing any website for Canadian sports betting.
Our experts follow a 25-step process to rate betting sites
Trustworthiness
Trustworthiness lies at the heart of any reputable sports wagering platform. Whether an established or new sportsbook, it is imperative to possess a valid license. Additionally, the implementation of modern encryption technologies ensures the safety and anonymity of all bettors within the website.
Bonuses and Promotions
Bonuses and promotions play a crucial role in enhancing the sports wagering experience. Deposit and welcome offers, free bets, reload bonuses, and cashback opportunities provide extra funds to make your sports stakes even more rewarding. We consider these incentives as an integral part of our evaluation process.
Odds Assessment
The odds offered on sporting events can significantly impact the potential profitability of a particular wager. Canadian bookmakers typically provide higher odds for top leagues and events, although it is possible to discover favorable numbers even for secondary games. Our thorough review process ensures that each bookmaker maintains a balanced approach to odds.
Mobile Compatibility
Mobile gambling and sports wagering have become immensely popular pastimes among Canadian adults. A sportsbook gains a significant advantage by offering official Android and iOS apps, enabling users to place and monitor their wagers seamlessly, even without access to a computer.
Payment Options Availability
The choice of payment method can greatly influence various aspects of your sports betting experience, including deposit processing time, withdrawal acceptance speed, and potential charges. A wide range of available payment options on a betting website reduces the likelihood of unexpected expenses for punters.
Diverse Bet Types
Most Canadian sportsbooks offer a diverse range of betting options, catering to various preferences. Even if you prefer wagering on less popular sports, you can still find a substantial selection of profitable markets and unique bet types to explore.
Quality of Customer Support
It is advantageous for a chosen sportsbook to provide multiple communication channels between customers and their support team. The ideal scenario includes a 24/7 Live Chat, a phone number, and an email address for prompt and efficient assistance. We meticulously assess the response speed and overall quality of customer support for each Canadian sports betting site we review to ensure a satisfactory experience for readers.
Soccer Betting in Canada
Soccer stands as the world’s most prominent sport when considering factors such as viewership, participation rates, and news coverage. Its popularity extends to Canada, where soccer betting has gained significant traction among enthusiasts.
Here are some of the primary soccer competitions that attract substantial betting interest (follow the links below for the best odds):
- English Premier League
- Spanish La Liga
- German Bundesliga
- Italian Serie A
- French Ligue 1
How to read Soccer Odds?
Now, let’s delve into the mechanics of soccer betting and explore how it operates. In Canada, decimal betting prevails as the preferred format, so we will focus on that as an example. Suppose Canada has odds of 3.10 to defeat the USA, who have odds of 2.40, in an international fixture. In this scenario, Canada is considered the underdog, reflecting the higher betting odds assigned to them.
To calculate your potential winnings, you simply multiply the bet amount by your stake. For instance, if you wager C$10 on Canada’s victory, you could potentially win a total of C$31.
This amount includes C$21 in profit, in addition to receiving your original stake back.
Feel free to experiment with other betting options and combinations using our soccer bet calculator below. Furthermore, if you prefer to convert the odds to the American-style moneyline format (e.g., +210) or British fractions (21/10), our odds calculator can assist you with that as well.
Discover the most favorable betting odds for upcoming soccer matches listed below:
How to Place Online Sports Bets in Canada?
To delve into the world of sports betting in Canada, there are a few straightforward steps you should follow.
Find a reputable bookmaker
Peruse our comprehensive list of top-rated sports betting sites in Canada. Once you have made your choice, create a personal account and undergo the verification process. For added advantages, you can even create multiple accounts simultaneously. This will enable you to compare the odds and betting markets available for the sports and events that capture your interest.
Claim your welcome bonus
Once your personal account is set up, don’t forget to seize the opportunity to claim a welcome bonus, extended to all first-time users. This welcome package may include bonus funds or free bets. Regardless, it presents a perfect and highly profitable way to kick-start your sports wagering journey.
Select the event to wager on
Navigate to the ‘Sports’ or ‘Live Betting’ section on the chosen bookmaker’s platform and find the specific game or event you wish to place your bet on. Some sports betting sites provide a convenient filtered search function to streamline this process for bettors.
Review the odds
Leading sportsbooks in Canada offer competitive odds for both popular and lesser-known sports events and leagues.
Finalize your bet
Once you have completed all the preceding steps, you are ready to confidently place your initial sports bet in Canada.
History of Sports Betting in Canada
Sports betting in Canada has come a long way, evolving through various legal milestones. The burning question on many people’s minds is, “Is sports betting legal in Canada?” The answer is a resounding yes. Since 1985, Canadians have had the opportunity to engage in this thrilling activity. However, it wasn’t until the introduction of Bill C-218, also known as the Safe and Regulated Sports Betting Act, on August 27, 2021, that the official ban on single-event sports betting was lifted.
Thanks to the progressive Canadian law, individuals can now place their wagers on legal sports betting companies within the country. Furthermore, international bookmaker operators have also been granted access to offer their services in Canada. It’s important to note that while some provinces have only legalized retail forms of sports wagering, there are others where both online and retail betting are allowed. The Yukon, Northwest Territories, and Nunavut fall into the former category, while British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, Quebec, Newfoundland and Labrador, New Brunswick, and Nova Scotia allow both forms.
Interesting Facts:
- While sports betting has been legal in Canada since 1985, the prohibition on single-event sports wagering was only lifted in 2021.
- Presently, there are a total of ten regions where online sports betting is officially permitted.
- Ontario boasts the largest sports betting market among Canadian provinces.
- The recent passing of Bill C-218 empowers each province and territory to regulate sports betting activities independently.
Since the legalization of single-event betting and the inclusion of online bookmaker operators, sports betting in Canada has soared to new heights. Although restrictions may vary across provinces, the revenue generated by sports wagering companies in Canada is currently at its peak.
How to Register, Verify, and Place Your Initial Bet with a Canadian Bookmaker
Once you have reviewed our curated list of the finest Canadian sports betting platforms, it is time to select one and try your luck with sports wagers. To make your first bet, follow these steps:
1. Registration
Visit the website of your preferred bookmaker and locate the ‘Register’ or ‘Sign Up’ button. Fill in all the necessary fields with accurate information, which typically includes your full name, date of birth, place of residence, preferred currency, phone number, email address, and a robust password. Before registering your account with the bookmaker, don’t forget to confirm that you are 18 years of age or older.
2. Verification
Canadian bookmakers often require new customers to verify their identity and financial capacity through a verification process. This involves submitting scanned copies of your passport, ID card, or driver’s license. Additionally, you may be asked to provide photographs of both the front and back of your credit or debit card if you intend to use it as your primary payment method on the website. The purpose of verification is to ensure the safety of all users and prevent potential fraudulent activities.
3. Start Betting
Once your personal account with the bookmaker has been successfully created and verified, you can proceed to deposit funds into your account. Choose a sporting event you wish to bet on and place your first wager.
Canadian Betting Sites Bonuses
Enhancing your experience with online betting in Canada becomes even more rewarding when you have a wide range of bonuses and promotions available. A great sports betting bonus encompasses both a generous prize and reasonable wagering requirements. Before claiming any displayed bonus offer, it’s essential to review the wagering requirements set by your bookmaker.
Deposit Bonuses
Deposit bonuses are widely prevalent on sports wagering websites and are typically offered for your initial cash deposits, sometimes extending up to the fourth or fifth deposit! By depositing the required minimum amount or more and fulfilling the stated wagering requirements, you receive bonus cash that can be utilized for your sports bets.
Welcome Offers
Welcome offers are considered classics in the industry. These are extended to all newcomers on sports betting websites and generally consist of cash bonuses or free bets. To acquire your bonus funds, it’s important to deposit a specified sum on the sportsbook and fulfill the rollover requirements.
Free Bets
When it comes to the best sportsbook bonuses in Canada, free bets are often among the first options that come to mind. These can be awarded separately to punters or included in welcome packages for new users. In either case, free bets provide you with an excellent opportunity to place wagers on sports without using your own money.
Cashback
Cashback bonuses are rapidly gaining popularity on sports betting platforms worldwide, and Canadian sportsbooks are no exception. Don’t miss the chance to receive cashback on a betting website, as it allows you to recover a significant percentage of the money you may have lost on your sports wagers.
VIP Offers
VIP memberships or loyalty programs are available to bettors on various Canadian sportsbooks. While these memberships often require a fee, the price is always offset by the exclusive bonuses you receive as a VIP user. Unlike some other types of bonuses, this promotion is ongoing and provides regular rewards unless you choose to cancel your subscription.
Common payment methods for betting in Canada
It is essential to select a convenient payment option in advance, as it can significantly impact transaction speed and potential fees. Trustworthy Canadian bookmakers offer various payment methods, including credit and debit cards, bank transfers, digital wallets, and even cryptocurrencies. Now, let’s explore the most popular payment methods available on sports betting websites in Canada.
- Skrill, established in 2001, provides online payment services to customers in 131 countries worldwide. By choosing Skrill as your payment method on sports betting sites, you can conveniently make deposits and withdraw winnings in 40 different currencies using their user-friendly mobile app.
- PaysafeCard, established in 2000, is one of the largest payment companies globally. Their system relies on a 16-digit PIN code that operates independently from your bank account or other financial information. Additionally, PaysafeCard allows gamblers and sports bettors to deposit funds in cash, adding further flexibility to the payment process.
- Neteller, a trusted e-money transfer service founded in 1999, offers convenience and high-level security to punters. With Neteller, bettors can easily make deposits and withdraw funds on overseas bookmaker websites without encountering unnecessary complications.
- Interac, a Canadian interbank network established in 1984, is widely utilized on most Canadian sports betting websites. This time-tested payment method is highly regarded for its safety measures. However, it’s important to note that Interac may impose fees on specific types of transactions within sports wagering platforms. Hence, it is advisable to pay attention to potential charges when utilizing Interac.
Placing Your Wager: Mobile App vs. Website
The realm of betting has witnessed a remarkable transformation with the aid of technology, making it more discreet and accessible than ever before. Gone are the days when you had to rely on a computer desktop to access a betting website. Now, with a plethora of Canadian sports betting apps at your fingertips, you can delve into the excitement of every event, from thrilling hockey matches to riveting cricket encounters and even pulse-pounding horse races.
As the popularity of online gambling through smartphones continues to soar, gradually replacing the need for a traditional computer setup, it is essential to grasp the nuances that distinguish each format. Two prominent advantages stand out: the unparalleled convenience of playing wherever you desire and the superior display offered by mobile devices.
Promoting Responsible Gambling
It is evident that an increasing number of individuals are testing their luck in online gambling, considering the surge of betting platforms in Canada. Engaging in online betting can be both enjoyable and lucrative, but it also carries risks. Given the potential repercussions of irresponsible gambling, it is crucial to adopt responsible betting practices.
We strongly recommend establishing and adhering to a well-defined budget. This means that you should only place bets with funds that you can comfortably afford to lose, avoiding the temptation to chase losses by placing additional wagers. Furthermore, it is essential to refrain from gambling while under the influence of alcohol or drugs, as this can impair your judgment and lead to impulsive gambling behavior.
Taxation Guidelines for Sports Betting Profits in Canada
In essence, there is no obligation to pay taxes on winnings from online sports betting. Canadian citizens are exempt from taxation on gambling profits derived from various activities such as horse racing, lotteries, sports betting, online casinos, and other games of chance, as specified in paragraph 40(2)(f) of the Income Tax Act. However, it is important to note that any interest earned on these profits is subject to taxation and must be duly reported on a T5 form. Failure to disclose such interest could result in severe penalties.
Projections for Canadian Online Sports Betting Revenue
It comes as no surprise that sports betting enjoys immense popularity in Canada. From a financial standpoint, it is estimated that millions of dollars in profits will be generated over the next five years. Canada can be seen as a treasure trove for sports betting, attracting more operators who seek to enter this highly competitive market.
Nevertheless, before sportsbooks can fully capitalize on the potential billions of Canadian dollars, they must first obtain approval from the Alcohol and Gaming Commission of Ontario. In order for these operators to thrive, they will need to offer distinctive features to bettors, potentially leading to a domino effect of players claiming bonuses and injecting more funds into these platforms.
