With the rise of online betting and the recent legalisation of sports betting, Canadian sports fans are betting more than ever! And while it can be a very exciting activity, it also requires careful planning and a bit of strategy to boost your chance of success. In my personal experience, a solid approach can really strengthen your betting experience. In this article, I’ll share my top tips to improve your betting strategy.
So, whether you’re a beginner or more of an expert at sports betting, you can get the most out of it by following a few simple methods—like understanding the odds, doing thorough research, or experimenting with different betting styles. Let’s get started!
1) Do Your Research
Knowing a sport well before placing a bet will help you make better decisions. For example, focus on specific aspects like recent team form, statistics, or individual player performance trends.
What I normally do is take a look into past performances from teams or check to see if anyone has had any recent injuries and how that might affect their gameplay. I strongly advise you to keep all these factors in mind, as it helps in developing a winning strategy.
2) Know the Odds and Markets Inside Out
Odds in sports betting are important as they show players the likelihood of what might happen at a match or event and how much they could win as a result. By understanding the odds well, you can improve your chance of a winning bet.
My typical method involves comparing odds across different bookmakers, so I can identify the most favorable betting opportunities and boost my potential winnings. Understanding the odds has helped me develop more nuanced betting strategies, such as hedging bets, and make more sophisticated wagers.
In Canada, these odds are normally shown in decimal form—but some fractions and American-style odds can also be seen.
Decimal Odds
These will show the total payout for a winning bet—including your stake. For example, odds of 2.50 mean a $20 bet would return $50—making a total profit of $30.
Implied Probability
By dividing 1 by the decimal odds, you can calculate the implied likelihood of a result. For odds of 2.50, the implied probability is 40%.
3) Explore Various Markets and Strategies
Canadian sportsbooks have lots of betting options and it’s not just the usual moneyline bets where you can simply pick a team that you think will win and that’s it. There are so many other options to explore, too. Below, I’ll share my top recommendations you can try out to mix things up a bit.
Spread Bets
A team has to win or lose by a set margin placed by the sportsbook. Even if a team wins the game, it still needs to match the set margin or the specific number of points in order for the bet to pay out.
I love spread bets because they provide better value when betting on strong favorites and in my opinion, they make seemingly one-sided games more interesting to bet on.
Over/Under Bets
Here, you can bet on the total points scored in a game by either going over or under a set number. For example, if the score is 50 and the player bets over 50 with a score of 51 or more, they’ll win the bet. If the bettor bets under 50 and the score is 49 or less, they will win the bet.
This type of bet offers flexibility since you don’t need to predict the winner, just the total points scored in a game.
Prop Bets
These types of bets involve specifics within a game—like which player will score a goal first or bets on certain events within a game, like predicting if the game will go into overtime or not. This bet type isn’t for everyone.
However, if you’re someone with a deep knowledge of individual players or specific aspects of the game, prop bets allow you to capitalize on it.
In-Play Betting
In-play betting allows you to react to sporting events as they happen live, and then you can adjust your bets based on what’s going on at that very moment in real time. Being able to adapt your strategy based on real-time game developments is certainly an advantage you shouldn’t miss.
Value Betting
This is where a sportsbook will predict what might happen at an event, and if you agree with them, you can make the choice on whether you want to make a bet based on this. If their predictions often match with what you think, you’ve found yourself a value bet and a reliable strategy that you can use.
4) Practice Responsible Betting
I always make sure to stay on the safe side when betting, and I advise all my fellow players to do the same. Here’s how to bet responsibly and still have fun:
Set a Budget
Set aside or plan the exact amount that you’ll spend on betting and stick to it—never go beyond that figure and only bet what you can comfortably afford.
Bet a Fixed Percentage
Most professionals in the industry usually recommend staking around 1–5% of your total bankroll per bet, and that’s my usual approach as well.
Keep a Record of Your Bets
Make sure to keep a record of whatever you bet—the precise amount, odds taken, and results. Let’s say your monthly bankroll is $500, betting in the region of $10–$25 per wager will ensure that you’ll remain within a safe range. Over time, this careful approach can help to lessen any losses and preserve money during any losing streaks.
5) Use Online Resources
A fantastic example of an app that I use is Betstamp, which can be downloaded via the Apple App Store or on Google Play. This app helps me organise all my online betting accounts and compares odds.
Reading up on statistics from major sporting websites like the National Hockey League (NHL) can also be useful for a comprehensive list of stats, and browsing comparison sites across a variety of sportsbooks will ensure that you’ll get the best value by weighing up every possible option available.
6) What to Avoid in Betting
So far, I shared my do’s in sports betting, and now it’s time to focus on some don’ts. Chasing losses and becoming overconfident after a winning streak is known to lead to troubles, so my advice is to avoid it at all costs.
Chasing Lost Money
If you’ve lost a huge amount of money while betting, avoid trying to get it back. Over the years, I’ve seen so many players make additional bets to try and get back what they’ve lost, and it always ends up in disaster. If this ever happens, stop playing immediately, before getting into further financial trouble.
Becoming Overconfident
I love a winning streak, but it does tend to end with players getting involved in riskier behaviour when they get overconfident and try their luck over and over again in an attempt to keep up with the rush of playing repeatedly. I’ve definitely learned this the hard way! So, it’s always best to quit while you’re ahead.
7) Keep Up to Date With Betting Regulations
The legalisation of sports betting in recent years has meant that an increased number of players are now betting more than ever before. And with this surge in popularity comes the need for stronger measures to be put in place to better control these activities and to help online casino operators and sportsbooks stay compliant.
Make sure that you select an online platform that sticks to the relevant laws and regulations so that you can keep your money and your personal information safe and secure. A good sportsbook will also have features on their site like setting deposit limits, as well as self-exclusion options, and they should also have a customer service team on hand to answer any questions or to give any further help if needed.
Before signing up, I always check reviews to make sure I’m using a trusted platform. This gives me the added level of confidence that I need to put my trust in the site.
8) Stay In Control When Betting
Staying mindful and calm when betting is a great strategy that is very useful during a game—even during a losing streak—and it will help make the overall experience more enjoyable. And not just that, practicing control when betting has helped me avoid making irrational bets driven by either frustration or excitement.
Remember that progress is progress, no matter how small—so celebrate all the small wins!
Closing Insights: Your Blueprint for Smarter Betting
By doing the necessary research on teams, statistics, and previous events before placing a bet, you’ll have a greater chance of being successful. Also, remember that betting is not intended to be a way to increase your main income—so bet responsibly, manage your finances wisely and take advantage of the latest technology to help keep track of everything. With these tips, you should be on the right track to building a successful strategy and smarter betting.
Rowan Fisher-Shotton is a graduate of Wilfrid Laurier University, with a degree in Sports Psychology and Media Studies. Rowan is a Canadian betting expert, iGaming enthusiast, and sports journalist with over six years of experience in his field, and he has fantastic knowledge of major leagues such as the NBA, NFL, and NCAA.
He is passionate about helping others improve their sports betting strategies through thoughtful and data-driven approaches.
