On April 4th last year, Ontario became the first Canadian province to create a fully open and regulated sports betting market for natives. As a result, you can now engage in single-game betting in Ontario, across a range of sports categories such as ice hockey, American football, and soccer.
Since its launch, Ontario’s sports betting vertical has boomed, with more than $21.6 billion worth of wagers being placed across 30 licensed sportsbooks. Total gaming revenue peaked at $886 million during the first year alone, while this trend shows no sign of abating anytime soon.
As for the best soccer betting sites in Ontario, you’ll find each of these entities listed and compared in comprehensive detail on the Casimoose.ca website. But while these platform helps you decide where to wager your hard-earned cash, what steps can you take to minimize risk and optimize your chances of banking a return?
Understand the Most Popular Soccer Bets
In addition to there being multiple betting markets pertaining to specific soccer matches and tournaments, you can also access a large selection of bet types online. Understanding these is crucial, as each have their own unique risk-reward profile and typically deliver variable rates of return.
For example, the single most popular soccer bet is known as the ‘money line’ or ‘win’ wager, which simply requires you to back the winner of a particular game. This is incredibly straightforward; as you simply select your predicted winner and back them with a predetermined stake, with the result that the team will either win and help you bank a return or lose and see your money disappear.
However, money line soccer wagers cannot be considered as even money bets, especially in instances where the draw remains in play. In this case, you will also lose your money if the match in question ends in stalemate, and this automatically reduces your risk of winning.
A true example of an even money market can be observed in totals betting. Here, you’ll target over/under markets pertaining to a specific in-game market, such as the total number of goals that will be scored.
For example, a sportsbook may create a range of theoretical goals totals that may be scored in a particular match, applying ante post odds to each one. These include the most common totals line of 2.5 goals, and in this instance, you must bet on whether the actual number of goals scored will be higher (over) or lower (under).
There are only two potential outcomes with this type of wager, so it arguably increases your chances of winning from the outset while enabling you to apply knowledge of the two competing sides to achieve a competitive advantage.
Parlay or accumulator bets are also highly popular, especially among risk-hungry investors who want to pursue larger returns. With an ‘acca’ bet, you’ll include between four and 20 selections in a single wager, before the odds of each individual outcome are multiplied to create much longer and extended odds.
Of course, you can manage your risk by capping the number of selections (at no more than eight) and backing short-price favorites to win, as this can still deliver an increased return while also enabling you to manage your risk.
Learn How Odds Work
While you need to understand each betting market and wager type in detail, I’d also recommend that you take the time to learn the basic functionality of odds.
When you place an online soccer wager, you’re effectively placing a ‘back’ bet on a particular team winning. At the same time, your chosen sportsbook will ‘lay’ a wager on the same outcome not happening, at the exact same published odds too.
If you see an outcome priced at 5/1 (6.00), for example, this means that a sportsbook is willing to lay five-times the value of your ‘back’ bet that your chosen outcome won’t happen. Subsequently, they’ll pay out at the same rate if they’re wrong and your wager is successful, while your total stake amount will be lost if you pick a winner incorrectly.
But how do Ontario sportsbooks calculate odds? Well, they use variable formulas to create balance ante post and in-play odds, drawing on multiple form and performance statistics in the process. A price premium is then applied in the form of a ‘vig’ or ‘vigorish’, which enables sportsbooks to bank a return of between 5% and 10% per individual wager.
Interestingly, odds can also be used to infer the implied probability of a particular outcome occurring. There’s even a fixed formula for this, which reads as follows:
(1/ decimal odds) * 100 = implied probability
By applying this to individual soccer betting markets and their real-time odds, you can arguably make more informed decisions while also tailoring your stake to suit the relevant level of risk and reward.
Make the Most of Free Bets
If you check out the best Ontario soccer betting sites at Casimoose.ca, you’ll see that they all offer generous and transparent welcome bonuses.
These often take the form of 100% deposit matches or free bet offers, which increase your bankroll and enable you to target specific bets and markets at minimum odds.
Identifying the best and most relevant free bets with competitive wagering requirements (which should ideally be no higher than 10x the total bonus value) can create a significant advantage, by helping you to affordably increase your bankroll while potentially unlocking discounted access to specific matches, tournaments and betting markets.
Similarly, the best Ontario betting sites tend to offer a large range of reload bonuses and guaranteed odds promotions for soccer wagering, which are widely available to existing customers. You’ll also find daily price boosts in play in some instances, potentially enabling you to increase your returns even when backing short price favourites.
Overall, I’d recommend that you compare the full range of welcome offers and wider promotions that are available online, based on your starting bankroll, the frequency with which you wager and preferred betting markets.
Then, you can identify the best possible bonuses for you and ensure the best possible experience when betting online!