How to Bet on Sports Teams: A Step-by-Step Guide
Canadians love sports betting! With legal online wagering now widespread, fans across the country are placing bets on their favourite teams and players. But with so many online sportsbooks available, how do you choose the right one? We're here to help you navigate the world of online sports betting in Canada.
Our comparison tools allow you to quickly find top-rated sportsbooks that are licensed and regulated in Canada. We focus on key factors like competitive odds, diverse betting markets (NHL, CFL, MLB, and more!), fast payouts, and secure banking options. Plus, we highlight exclusive bonuses and promotions to boost your bankroll. Find the perfect sportsbook for your style of play and start winning today!
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Most Popular Sports Teams and Leagues to Bet On in Canada
While many sports participants are amateurs, professional teams and leagues are a massive part of the modern sporting world. Many Canadian bettors enjoy wagering on the biggest teams and leagues globally. Here is a list of some of the most valuable sports franchises worldwide.
- Real Madrid CF - Valued around $4.8 billion
- Dallas Cowboys – Valued around $5.7 billion
- FC Barcelona - Valued around $4.8 billion
- New York Knicks - Valued around $5 billion
In 2012, gamblers betting on tennis teams wagered more than $58 million on Wimbledon’s finals match at online sports betting sites. More than 1 billion fans tuned in to watch Wimbledon matches during the competition. The game holds fourth place in betting popularity amongst sports gamblers.
With approximately 93,000 matches, tennis fans have plenty of opportunities to wager. Top players like Iga Swiatek are often favoured in any tennis competition, especially after major wins. Canadian tennis fans often look for opportunities to bet on these high-profile matches.
During March Madness, gamblers wager about $10 billion on basketball, which is third in betting popularity among sports fans. As 68 teams compete for the national championship, the teams’ fans wager on the outcome of individual matches and the final championship game. While the NCAA championship is a big draw, Canadian basketball fans also follow and bet on NBA action.
American football is second to only one sport in global wagers. The National Football League attracts a significant amount of betting action. In fact, the Super Bowl attracted a record-topping $158 million in legal wagers in 2018. Estimates of illegal betting on the championship put the amount of overall betting closer to $5 billion. Canadian football enthusiasts often place bets on NFL games.
Even though the Rams beat the Bengals in Super Bowl 2022, only seven biggest sports teams have won consecutive championships, and it hasn’t happened since 2004. In 2023, odds makers may look at other major sports teams to win the Super Bowl, including the Buccaneers, led by iconic, 7-time Super Bowl champion quarterback Tom Brady.
As the world’s most popular sport, soccer outperforms the best sports team betting action. The soccer championship, FIFA World Cup attracts teams from 210 countries that participate in the tournament. From qualifying matches to make the finals, teams compete to see which will win it all. Bettors are watching and wagering every step of the way. Both FC Barcelona and Real Madrid are teams that sportsbook odds favor.
Bet on a Sports Team
With thousands of monthly sports competitions, the best sports teams to bet on have favorable odds. Fans place wagers at popular offline establishments, online websites, or mobile apps available for download in the Apple and Google app stores.
Teams with a high chance of winning are at a higher monetary risk for bettors who participate in betting on sports teams. Therefore, it is crucial for a gambler to only wager money on sports that he can afford to lose.
Most sportsbooks offer multiple ways to wager on the same competition. For instance, a bettor may wager on who will win the match, which player will score first, or the player who will get the most points. The odds of a favored team will have odds with a minus sign. The odds of a team expected to lose will have a plus sign of the odds.
Wagering based on the margin of expected victory in points is a popular way to bet. If a team is expected to win by 10 points, the point spread is -10. Bettors who wager on the favorite team get back the money wagered plus additional winnings if the odds-on favorite wins by 10 points.
Is it Worth Betting on a League?
For sports enthusiasts, betting on sports leagues is a form of entertainment that enhances the game. Win or lose, wagering is worth the experience for most. For example, moneyline betting is another popular way to win a wager. If the favorite's odds are -400, a bettor wagers $400 for a chance at winning $200.
However, the bettor wins his wager plus $200 if the favorite wins, but may lose $400 if the favorite loses the match. Money line betting is popular for low-scoring sports competitions, such as soccer and baseball. Seasoned gamblers have mastered how to manage risk and individual fans are often just playing for fun.
How to Bet on Sport Teams
Seasoned gamblers bet smart. Staying informed about favored sports teams betting is one way to choose the best teams to wager on. Most gamblers watch the games to find out which players are performing well, and which teams know how to win.
Researching historical win/lose statistics is also a smart way to make an informed decision. In fact, computer software may analyze the wins to produce the likely winner in a head-to-head team matchup.
However, statistics and data are only two ways of determining the probable winner. Information in the news offers keys to a team’s future performance capabilities and offers insight into betting on sports teams. If a team acquires a superstar player, it is odds of winning may increase. Conversely, if a team loses an important player to injury, it may face challenges competing at the same level.
Following the sports team betting odds is also an effective way to wager. Sportsbooks’ employees are experienced at picking winners and are correct more than 50 percent of the time. To ensure a win, a better may also wager on both sides of the match.
By choosing to separate bookmakers, a gambler may place two wagers, which almost solidifies a win. Of course, a tie match in this scenario will mean the gambler loses if he bets on both teams to win.
Best Sports Players in the World
Mastering a sport takes intense dedication, talent, grit, and athleticism. Few players reach iconic status, which includes adoration from fans and a bucket load of money from salaries, winnings, and endorsements. Here are five players who are favored by fans and sportsbook odds.
Cristiano Ronaldo makes a whopping 26.4 million dollars in 2022 salary and enjoys a Twitter following of 42 million followers. As the most popular soccer player in the world, he accumulated more than $1 billion in earnings during his career from salary and endorsements and has an estimated $500 million net worth.
LeBron James makes $23 million by playing basketball for the Los Angeles Lakers, and he tweets to more than 31 million Twitter followers. Forbes estimates that James’ net worth exceeds $1 billion.
Serena and Venus Williams rocked the tennis world with individual and doubles wins throughout their careers. Both have made invaluable contributions to the sport by winning multiple championships, including Wimbledon. Serena leads with 19 Wimbledon wins to Venus’ 12 wins. Both have enjoyed status as the No. 1 ranked tennis players in the world.
Each of these players is widely regarded as the best to ever play their respective sports and is often favored by gamblers.
FAQ
Is betting on sports teams risky?
Betting on sports teams is risky because outcomes are uncertain and results depend on many variables beyond your control, such as form, injuries, and tactics.
What is the easiest team bet for beginners?
The easiest team bet for beginners is the match winner or moneyline bet, as it only requires picking which team will win.
How much should I bet per team wager?
You should bet a small percentage of your bankroll per team wager, commonly 1% to 5%, to limit losses and manage risk consistently.
Do favorites always win?
Favorites do not always win because odds reflect probability, not certainty, and underdogs regularly win due to match conditions or unexpected performance changes.
Can I bet on multiple teams at once?
You can bet on multiple teams at once using accumulators or parlays, but this increases risk because all selections must win for the bet to pay out.
How do injuries affect odds?
Injuries affect odds by reducing a team’s expected performance, especially when key players are unavailable, leading sportsbooks to adjust prices accordingly.
Is live team betting different?
Live team betting is different because odds change during the match based on momentum, scoring, and events, requiring faster decisions and higher discipline.
Can team betting be profitable long-term?
Team betting can be profitable long-term only with disciplined bankroll management, value-based selection, and realistic expectations rather than frequent or emotional betting.
