Everything You Need to Know to Start Legal Sports Predictions in Ontario

Ontario’s legal sports betting landscape has come a long way over the past few years. There are now a number of opportunities to get involved. So let’s take a look at sports predictions and everything you need to know to get started. 

Sports predictions involve analyzing games or events to forecast outcomes and placing bets based on those forecasts. These outcomes could include who will win, by how much or even how many points will be scored and placing bets based on those forecasts. 

Ontario vs. the Rest of Canada: The Divide in Online Sports Betting

Since the legalization of single-event sports betting in Canada, Ontario has taken a dramatically different path from the rest of the country. While most provinces stuck with government-run lottery platforms, Ontario opened its doors to private operators in 2022, creating a regulated, competitive, and consumer-friendly market.

Today, players in Ontario can legally place bets with top-tier sportsbooks like FanDuel, DraftKings, and bet365, enjoying features like live betting, competitive odds, and robust promotions. The market now ranks among North America’s top five by volume, with millions flowing back into the province through taxes and licensing.

Elsewhere in Canada, bettors are limited to lottery-backed platforms with fewer features, lower odds, and minimal bonuses. As a result, many still turn to grey-market sites for a better experience. If you are outside Ontario, there are also other legit platforms you can try and use bonus codes like ODDSB that boost your bankroll, giving you more opportunities to try out different wagers and strategies. 

Ontario’s model proves that regulation and innovation can coexist—and it’s a blueprint other provinces would do well to follow.

Understanding the legal framework 

Ontario legalized single-event sports betting with Bill C-218. This was passed on June 22, 2021. This law allows individuals aged 19 and over to bet on individual sports events through regulated channels. The province officially launched its regulated sports betting market via iGaming Ontario (iGO) on April 4, 2022. This opened the gates to both online and retail sports wagering. 

Two key regulatory entities help to ensure integrity and consumer protection: 

• Alcohol & Gaming Commission of Ontario (AGCO): They are responsible for setting regulations, ensuring fairness and handling compliance and enforcement.
• iGaming Ontario (iGO): Manages licensing and oversees the operations of private sportsbooks. 

Unlike other Canadian provinces with parlay-only restrictions, Ontario allows single-event betting, making it far more engaging and flexible for punters. 

How to get started 

Getting started the right way is important. It will set you up for your whole experience. So here’s a step-by-step breakdown to begin your legal sports betting journey: 

Choose a licensed sportsbook

Ontario has a wide range of licensed operators, including international favourites too. It’s important to make sure the sportsbook is officially approved by AHCO and iGO. Choosing the right sportsbook will help to ensure a positive experience for you. 

While licensing is essential, there are also a number of other factors that will impact your experience too. This includes odds competitiveness, app and website experience, available payment methods and support and customer service. 

Register and verify your account

You must verify your age (19+) and identity using official documents (driver’s license, passport etc). Payment methods include Canadian bank transfers, Interac, payment cards and e-wallets. 

Deposit funds and set limits

Deposit using CAD and ensure that your chosen sportsbook supports CAD transactions. Responsible betting is encouraged through tools like deposit limits, wagering caps and self-exclusion options mandated under Ontario’s regulatory framework. 

Exploring bet types and markets 

One of the great things about sports predictions in Ontario is the sheer variety of bet types and markets available: 

• Single-game bets: Betting on the outcome of one event, such as win, spread, total points, etc.
• Parlays: Combining multiple bets across games, which can lead to larger payouts but with a higher risk.
• Props: In-game bets that focus on specific player or team performances, such as the number of three-pointers or player stats.
• Live/in-play betting: Bet during a game, with odds that update in real time.
• Fantasy sports: Daily fantasy contests offered by licensed operators.
• Esports and novelty markets: Betting on esports matches, celebrity contests or award shows. 

Platforms also display real-time, show cash-out options and sometimes even offer streaming services. Each one of these features enhances your ability to make informed predictions. 

Using odds effectively 

Odds are the backbone of sports betting. They reflect the likelihood of an outcome and the payout you will receive. Understanding how odds work is essential: 

• Decimal odds (European style): Easy to read and multiply by your stake to calculate potential returns.
• Understanding value: Great predictive betting means spotting value. These are instances where your analysis puts the probability higher than implied by the odds. 

To compare odds across different platforms and find the best lines, many bettors use third-party tools, which can help you to quickly see where your bets offer better value. 

Ensuring responsible betting 

Ontario’s regulations include strong protections that encourage responsible gambling. This includes: 

• Self-exclusion programs
• Deposit, wager, loss and time limits
• Prominent responsible-gambling notifications and resources
• Age verification and identity checks. 

These measures are in place to protect players and promote safe, enjoyable betting. Self-awareness and limits are your best defence against problem gambling. 

Understanding taxation and payouts 

In Canada, sports betting winnings by casual bettors are not taxable. This is unlike other countries where gambling profits are taxed. However, if someone is identified as a “professional gambler” or a business is built around betting, then taxation may apply. 

Sportsbook operators pay their own licensing fees and are taxed on net gaming revenue. Bettors, however, don’t pay taxes unless gambling is deemed occupational. 

Staying informed and protecting yourself 

Legal sports betting in Ontario is built on a foundation of transparency and integrity. But that doesn’t mean bettors can be passive participants. Staying informed is one of the smartest things you can do, not just to improve your chances but also to ensure your safety and compliance with the law. Licensed sportsbooks in Ontario are required to implement real-time monitoring systems and work with independent integrity monitors (IIMs) to detect unusual betting patterns or potential match-fixing. These systems help maintain fair play and protect honest bettors from manipulated markets. 

In addition to regulatory oversight, it’s your responsibility to manage your finances and stay up to date with any changes to betting rules, platform policies and promotional terms. Sports betting is a fast-moving industry and odds, regulations and offers can change quickly. Regularly checking announcements from the Alcohol and Gaming Commission of Ontario (AGCO) and iGaming Ontario (iGO) can help you to stay compliant and spot potential red flags like online scams and fraud early on. 

It’s also a good idea to follow industry news, sportsbook blogs and odds aggregators to stay ahead of market trends and betting shifts. This will help you to make more informed decisions when it comes to placing bets and keeping yourself safe online. 

Ontario is now one of the most accessible places in Canada to start sports betting legally. By picking reputable sportsbooks, understanding market options, practicing solid bankroll and value-based strategies and betting responsibly, you will be able to set yourself up for an informed, enjoyable and potentially profitable experience.