Home > Ontario Sports Betting – What You Need to Know

Ontario Sports Betting – What You Need to Know

Sports Betting Ontario Latest News, Laws, and More.

Does Ontario Sports Betting interest you? If so, you are in the right place because this page contains all the information you could ever need. From everything you need to know about the laws to latest news and everything in between. You’ll learn the details in no time. Ontario sports betting is a big deal, and we want to make sure you’re prepared. We’ve rounded up everything you need to know about it here—the laws, the latest news, and everything else important.

Ontario Sports Betting

Ontario Sports Betting Law

Ontario Sports Betting Bill c-218 has changed the lives of many. It is the law that gamblers in Ontario have been waiting for. Prior to this bill, the only legal sports betting in Canada was horse racing and parlays. Parlays are where players need to have multiple bets (minimum of two), and when one parlay losses, all the others lose as well. While when it wins, the bettor gets a bigger prize.

Since the bill was passed last 2020, the federal ban on sports betting was removed. This has paved way for other types of gambling to be available like futures and single sports betting Ontario. The Ontario sports betting launch is the first one among the provinces. This regulated sports betting program has brought multiple sportsbooks to officially open their business. Having around 14.57 million people in population, the province expects to generate up to $800 million gross revenue for this year’s sports betting, indeed a great choice for the provincial government.

To know if the sportsbook you’re playing at is legal, always check their license. If they licensed by the Alcohol and Gaming Commission of Ontario (AGCO) and its regulator, iGaming Ontario (IGO) to prevent any hassle in the future.

Sports Betting News

The news of Ontario legalizing sports betting was announced by the province last March 2020. The move comes after a series of consultations with stakeholders in the gambling industry, which included representatives from casinos, horse racing tracks, lottery companies and others representing various sectors of the gambling industry. For the young ones, sports betting Ontario age is 19 years old.

The provincial government indicated that it had decided against implementing a single monopoly provider model similar to Quebec’s Loto-Québec because it believed it would limit competition and innovation as well as increase costs for consumers due to higher taxes on bets placed through state-owned outlets versus private ones like those operated by casinos or other businesses licensed under provincial law (like horse tracks).

Sports Betting Taxes

As Ontario online sports betting market has been legalized, the next question is will there be sports betting Ontario taxes? It was estimated that Ontario sports betting tax will accumulate up to $800 million in a year from the sportsbooks operators. Recreational players however do not need to worry as they don’t need to pay taxes for their winning but you still need to include it in your tax declaration and pay the interest you received. It is necessary to declare the winning because you will be penalized if you get caught later.

For professional gamblers playing online or offline, and makes a living by betting, you will be taxed for your earnings. This is because professional gamblers are considered freelance business owners and are taxable according to the Canadian tax law.

Now that we’ve discussed the legal side of online sports betting Ontario, let us see the best Ontario sports betting sites to play at. Below we will be sharing with you the best up and running sportsbooks available in Ontario.

BETMGM Sports

Licensed by the Alcohol and Game Commission of Ontario, and has Secure Sockets Layer (SSL) certificate. BETMGM is one of the top Ontario betting sites with numerous features for its customers. The sports betting site is owned and run by MGM Resorts International, a leading sports betting and iGaming company.  It covers several sports like Lacrosse, Football, Hockey, Golf, Soccer, Basketball (NBA) and more. In that note, making BetMGM the best choice for sports lovers who are beginner gamblers and for the veterans who want an advanced Ontario sports betting apps. The sportsbook’s minimum deposit is at $10 and has no minimum wager amount. Withdrawal waiting time can run from 24 hours to 4 days.

  • Live Betting. 

    The sportsbook has live betting feature that allows gamblers to bet while the game is ongoing. This is allowed because licensed and legal sportsbooks are given real time data access by the official leagues. It is how BetMGM can compute odds on a lot of events. Players can bet on which team scores the next goal or touchdown or the score at halftime or end of quarter. The kind of sports betting with a little waiting time for the results.

  • Advance Cash Out Option. 

    An additional advantage of real time data is being able to calculate the odds of winning. In line with this, the players can request for an advance cash out. Gamblers might want to do this so you can lock in an unexpected win or minimize your loss if ever the odds go against you. However, all your winnings won’t be given to you immediately but a part of it depending on the odds at the time you requested for cash out.

  • Change Bet. 

    This feature allows players to change their bets when you decided to either increase, add a parlay bet, delete, or swap your selection.

These are only few of great features of BetMGM, if it has made you interested, you can go to the site to sign up or you can download their app which is available for both iOS and Android devices.

BETRIVERS.CA Casino and Sportsbook

Regulated by AGCO, BetRivers is the best sportsbook for in-depth single market betting. As a new Ontario sportsbook, it includes a lot of different sports betting Ontario promotions that interests new and old bettors. They cover Basketball, Baseball, Hockey, Football, and more. You can deposit through a wide choices of banks with a $10 minimum deposit. While your withdrawal request can take up 2 to 4 days.Whatever your purpose is for playing, BetRivers might be the best for you.

  • Live Betting.

BetRivers boasts their remarkable live in-game betting as well as live streaming. Players can access BetRivers through mobile app available for iOS and android users or  through browser. Their site is easy to navigate and place bets in for the in-game betting or live streamed sports.

  • Great Platform for New Bettors.

Ontario single sports betting is not yet available. However, BetRivers created a trial setup called SportZone so Ontario’s new bettors can practice and get the feel of wagering money. It is done so the gamers can be familiar with the system whenever the Ontario single event sports betting license is released.

If this got you interested, you might want to check out their website and start playing.

POINTSBET

An Australian operated sportsbook established in 2015 and launched in 2017. Regulated by AGCO, they cover sports like Basketball, Hockey, Football, Baseball and many more. Their minimum deposit is at $5 and can be received after 30 minutes to 5 working days depending on the approval of the process. Starting last 2017, PointsBet from being strong to become even stronger. Raising up to $80 million fueling the expansion to US and North America. They have began to hoard players from American and has started to conquer the Ontario casino sports betting market.

PointBet’s next target is the Ontario single game sports betting along with the vast list of promo codes for players. PointBetting, their flagship product drives their focus on sports betting. PointsBetting is a fixed odd betting with European spread betting. They are the only one offering this kind of service among all online sports betting apps in Ontario. Unique rewards points and different VIP incentives makes the site appealing to a lot of players – an addition to their smooth and simple layout.

  • Karma Kommittee

A  bad beat scheme that rewards players through additional bets when an unforeseen variable that affects the bet negatively. If you’re a fan of the English Premier League and Champions League football, a player might become injured or red carded in the middle of the game, to whom you wagered on can negatively affect your bet. A karma kommittee then convenes when this happens, most likely to refund the player of their bets.

  • Points Betting

A more exciting way of betting. This is where your bet’s win or lose status will not be determined until the game ends. Points Betting lets you win big prizes if you get to bet on the winning team, but could also lose more if not. You should not worry too much as there is a limit on how much you can win or lose to keep the players safe. It’s a barricade to keep yourself falling towards a very deep cliff.

PointsBet has a wide range of betting ways. It includes spreads, money line, totals and other features like round-robin, teasers, live betting, futures and rake of pops. Just like other betting sites, PointsBet is applicable to majority of the markets. A lot of games are covered by PointsBet and you might want to try and see how it works for you.

888 Sport

Holding an Ontario sports betting license, 888 sport is a great place for gamblers to grab opportunities and play their favorite games or bet to their favorite sports team. To start you need to deposit a minimum of $10 and if you win, you need to wait for 1-4 days before you can withdraw your payout. Since there are a lot of competition, each of the sports betting sites launch different kinds of promotions to attract customers.

A well rounded bookmaker offering a lot of kinds of sports including Soccer, Hockey, Basketball, Football and many others. They have a simple and easy to navigate interface, perfectly friendly for users. Deposit and withdrawal options are also very accessible thanks to the wide array of banks and e-wallets.

  • Wide Selection of Market

Offers a wide selection of betting market that lets gamblers bet on each and every sport they want, even with multiple leagues per sport. 888Sport Ontario also has a section where players can wager even if there are no ongoing games.

  • Safe Banking Methods

Aside from a wide selection of banking methods, players’ other concern includes the security of their data. One thing 888Sport can definitely offer. These banking methods include anything from apple pay to visa. Now you can bet all you want smoothly and safely.

Registering to 888Sport is easy. You can visit their website or download the app, type in your details and confirm your identity through proofs and you’re good to go. Why don’t you take a chance and try your luck playing with these sports betting Ontario casino sites.

Bet365 Sportsbook

One of Canada’s best sportsbook. They offer a great customer service available in 12 languages, rare compared to other sportsbooks. You can reach them through live chat and email, very accessible for their players. Their great reputation since the company was founded has stayed.  They cover a wide variety of games including Hockey, Football, MMA, NBA, Soccer among many others. Withdrawal takes up to 1-3 working days and is available through a wide variety of banks. Bet365 is also the first one to include League of Legends in their slate.

  • Edit Bet

Aside from being one of the most reputable casinos, Bet365 also has some of the best features including Edit Bet. It allows the gamblers to either swap, add or remove selections for your bet. You can also change your bet type using this feature.

  • Bet Builder

This feature on the other hand allows players to create betting lines from a Bet365 line catalogue, along with the edit bet feature that allows players to change their wagers based on an important information that could affect the result of the game.

Bet365 is also the first sportsbook that included e-sports with the game League of Legends. If this got you interested, simply click join at their website or download their app and start betting.

What do We Do Next?

All bets are off! Helping to prevent complications and litigation, the provincial government has cleared the way for legal sports betting. Currently, the Ontario sports betting legislation is being challenged as unconstitutional by a group of bookmakers and casinos. However, to date Ontario Sports Betting is a thing.

I hope this helps clear things up for you. So whether you’re a fan of watching sports, or if you just enjoy betting on sports because it’s fun to win money and props, there are lots of people in Ontario that are interested in betting. Try you luck and my the odds be ever on the favor of whichever team you’re betting on. Finally, you have to know what you’re doing and betting. Make sure you’re keeping it real or fun because let’s be honest, no one likes a negative person.