Legal Sports Betting In Canada

What Withdrawal Options Are Available At Canadian Online Sportsbooks?

You have plenty of options when it comes to making a fast sportsbook payout request in Canada. No matter which withdrawal method you choose though, there are guidelines that you do need to follow that are similar to the ones when making a deposit. The one thing to take serious note of is that you cannot make a withdrawal back to your credit or debit card and will need to choose another form of online banking.

• Cryptocurrency
• MatchPay
• Voucher
• Wire Transfer
• Money Order
• Check by mail
• ECheck

Using Cryptocurrency To Bet On Sports In Canada

With cryptocurrency one of the fastest-growing forms of payment in the world, it makes sense that some online betting sites in Canada will let you use them to fund your accounts. The main benefit to using crypto to place bets on these betting sites is that they do not come with any added transaction fees and have some of the fastest processing times as well. To note though on the withdrawal end, the only way that you can withdraw with cryptocurrency is if you make your first deposit with that specific crypto. Some of the accepted cryptos include:

• Bitcoin (BTC)
• Ethereum (ETH)
• Solana (SOL)
• Litecoin (LTC)
• Bitcoin Cash (BCH)
• Ripple (XRP)
• Cardano (ADA)
• Shiba Inu (SHIB)
• Dogecoin (DOGE)
• USD Coin (USDC)

Sports Betting Laws In Canada

In 1892, Canada banned all forms of gambling in its criminal code. The prohibition against sports betting remained until June 22, 2021, when the Canadian legislature passed C-218.

C-218 officially regulated single-game wagers in Canada on a province-by-province basis, similar to the U.S. industry. Each province has the ability to set its own sports betting regulations under C-218. The first provincially-regulated sportsbooks rolled out in 2022. C-218 does not include a limit on the number of licensed Canadian sportsbooks; however, industry experts expect approximately 30 sportsbooks to receive licensing for the initial launch period.

Best Online Betting Sites In Canada

Depending on the province, bettors will soon have the choice between betting on any sporting event at provincially-regulated sportsbooks or internationally-based sportsbooks. Since there are no laws against betting on sports in Canada, legal online sportsbooks like MyBookie accept Canadians.

Canadian Sports Betting Markets

The number of sports that you can bet on in Canada are near endless regardless of if they are a massive market like the NFL or something small like snowboarding or handball. You’ll be able to find plenty of odds on them all that extend far beyond just the normal gamelines. They’ll offer game props, player props, futures odds, and much more. Some of the sports you’ll be able to bet on include:

• NFL
• NBA
• MLB
• NHL
• Soccer
• UFC
• Boxing
• Darts
• Swimming
• Cycling
• Futsal
• Rugby
• Table Tennis
• Handball

Canada’s Sports Betting Revenue

There is no financial data on Canada’s sports betting revenue; however, in Alberta, it is estimated that approximately 4% of the yearly budget is derived from general gambling revenue. An estimated $10 billion USD is wagered on sports in Canada per fiscal year. Helping feed into that sports betting revenue is a 30% tax rate on all gambling revenue.

Can I Bet With A US Sportsbook From Canada?

No, as United States law dictates, U.S.-based sportsbooks can only operate in the state they are regulated in. This is a result of the Interstate Wire Act of 1961, which prevents the transfer of sports betting funds across state or country lines.

Betting On The Toronto Raptors

The Toronto Raptors have been one of the more successful teams when betting on the NBA in recent years. They brought an NBA Championship to the country, the first in history, in the 2018-2019 season after going in with +1800 preseason odds. Also over the last five seasons, many have enjoyed a profit of $193.43 when betting $100 on the Raptors to make the playoffs in those seasons. When it comes to their play against the spread in that period of time, it has been profitable as well.

Raptors Past ATS Records

• 2023: 41-40-2
• 2022: 48-39-1
• 2021: 31-40-1
• 2020: 46-36-1
• 2019: 51-53-2
• 2018: 48-43-1

Betting On The Toronto Maple Leafs

The Toronto Maple Leafs are the pride and joy of hockey in Canada and have turned one of the biggest betting profits in the league. That comes when betting on them to make the playoffs each year as they have made it in each of their last six seasons. If you were to have started with $100 and bet on them to make the playoffs six seasons ago and rolled that profit over to the next year, you’d be up $677.89. At their -1000 opening odds to make the playoffs in 2023, you could see that profit rise to $745.68 once they clinch the postseason.

Betting On The Toronto Blue Jays

While the Toronto Blue Jays have only made the playoffs twice in the last six seasons, there is still a profit to be made betting against them. More specifically, betting against their won total for them to stay under the projected number. Betting $100 on them to stay under their projected win total in those six seasons could have netted you $159.79. Similarly, betting against them to miss the playoffs in their last five seasons has also turned a profit of $110.65 when betting $100 units.

Blue Jays Past Win Totals

• 2022: 92.5 (Under)
• 2021: 86.5 (Over)
• 2020: 27.5 (Over)
• 2019: 74.5 (Under)
• 2018: 81.5 (Under)
• 2017: 85.5 (Under)

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