Sports betting remains one of the most popular forms of wagering in Canada, and understanding how betting on sports works is important for up-and-coming punters.
Sports betting is a favourite pastime of many people around the globe. Betting on sporting activities has been around for centuries. Still, with the rise of the internet, more people can wager on their favourite sports irrespective of where they are located geographically.
Today, sports betting encompasses almost every sport that you can think of. Each country, however, has its firm favourites that constitute the primary market share.
The Big Four Sports to Bet on in Canada
When it comes to sports betting in Canada, one sport dominates the sportsbooks. The most popular sport on which to bet in Canada is hockey, with most gamblers placing bets on this sport. The other three popular contenders are basketball, football, and soccer.
Of course, it is no surprise that these four sports are commonly chosen for betting among local punters because they are the four most played and watched sports. However, even though these four sports dominate Canadian sportsbooks, plenty of punters prefer to place wagers on more niche sporting events, such as greyhound racing, tennis, motorcar racing, cycling, or boxing.
The Latest Trends in Candian Sports Betting
While traditional sports take the lion’s share of the sports betting market, an emerging trend is the prevalence of eSports bets. Just ten years ago, eSports didn’t exist as a professional sport. However, today there are over 100 million competitors globally, and these numbers continue to grow exponentially.
Professional leagues and teams are sprouting up everywhere. There are multimillion-dollar prize funds for season-end championships, with millions of spectators watching these battles online. In South Korea, eSports have become the country’s national game!
Daily Fantasy Sports Betting
Another new sports betting phenomenon in Canada is daily fantasy sports (DFS). This rapidly growing sports betting offshoot limits competitions to a single day. Players pay their entry money into a prize pool, and the top performers share the pool after the operators take their cut.
The internet has helped remove the last few entry barriers, with punters now being able to place wagers via smartphones or mobile devices. The DFS market capitalised on this trend, simplifying the betting process on various outcomes. For example, with daily fantasy football, participants can select players who will have major games during the upcoming week.
Depending on the game’s stats, players are awarded a specific number of weekly points. Some participants spend a fortune playing with various teams around the league, with professional players often making a lot of money.
In-Play Betting
Another betting category that has gained much popularity is in-play betting. This type of betting allows punters to place different wagers on their chosen sporting event while the game is under way, right until the end of gameplay. The appeal of this type of betting is that it allows hedging, and with the odds continuously updated in real time, you get to enjoy a highly dynamic style of wagering.
Virtual Sports Betting
While virtual sports betting has been popular for a while, it has only recently entered Canada. Virtual sports combine sports betting with slot machines and eSports in a fun way that has a continual flow of fresh content daily. Scheduled virtual events run every few minutes, with punters placing bets on their outcome.
Unlike eSports, which involve two human participants competing against one other, virtual sports betting is managed through a computer algorithm. As virtual sports betting spreads to more brick-and-mortar casinos, it will likely appear soon on many more online casino repertoires.
There’s never been a more exciting time for sports betting. There are so many wagering options and a variety of sports to choose from across real and virtual scenarios. Additionally, punters can now bet on niche sports and events and are guaranteed to find a wealth of wagering options on their favourite sports, no matter how obscure these might be.
