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USEFUL BETTING RESOURCES

Welcome to our Betting Resources page! As sports betting enthusiasts, we understand the importance of having access to reliable and accurate information to help you make informed decisions. That’s why we’ve compiled a comprehensive list of resources to assist you on your betting journey.

Here, you’ll find betting resources, tools, data, and educational materials to enhance your understanding of sports betting and improve your overall experience.

Table of Contents

Odds Conversions and Tools

Firstly, explore our interactive betting resources, including odds tables, betting calculators, and more.

Odds Table

Below is a table that shows the conversion between the most common odds formats.

Decimal OddsAmerican (Moneyline) OddsFractional OddsImplied Odds (%)
1.20-5001/583.33%
1.50-2001/266.67%
1.75-133.333/457.14%
2.00+100 (Even)1/150.00%
2.20+1206/545.45%
2.50+1503/240.00%
2.75+1757/436.36%
3.00+2002/133.33%
3.50+2505/228.57%
4.00+3003/125.00%
5.00+4004/120.00%
 

Odds Converter

Potential Winnings

Read our articles on the topic in order to learn more:

Illustration of multiple screens showcasing various sports odds, representing the diverse betting opportunities available on a sports betting website.
Articles
Ethan Moreau

Mastering Odds and Implied Odds

Odds and implied odds are two essential concepts for sports bettors, and understanding the difference between them can significantly improve your betting strategy. In this comprehensive guide, we’ll dive deep into the world of odds and implied odds, providing examples, explaining their importance, discussing bookmaker margins, and more. By the end of this guide, you’ll have a solid grasp of these fundamental betting concepts, allowing you to make better-informed decisions when placing wagers.

Read More »

Popular Subreddits (External Betting Resources)

Discover some fantastic external betting resources on the web. Check out our favorite subreddits to keep an eye on.

Betting and Gambling Subreddits

Subreddit NameDescriptionLink
r/sportsbookA community for sports betting enthusiasts to discuss strategies, share picks, and track their results.https://www.reddit.com/r/sportsbook/
r/sportsbettingA subreddit dedicated to discussing all aspects of sports betting, including strategies, odds, and picks.https://www.reddit.com/r/sportsbetting/
r/gamblingA general gambling subreddit for discussions about casino games, poker, and other forms of gambling.https://www.reddit.com/r/gambling/

Sports Subreddits

Subreddit NameDescriptionLink
r/NFLA community for NFL fans to discuss news, highlights, and analysis of the league.https://www.reddit.com/r/nfl/
r/NBAA subreddit for NBA fans to discuss news, highlights, and analysis of the league.https://www.reddit.com/r/nba/
r/MLBA community for MLB fans to discuss news, highlights, and analysis of the league.https://www.reddit.com/r/mlb/
r/NHLA subreddit for NHL fans to discuss news, highlights, and analysis of the league.https://www.reddit.com/r/nhl/
r/soccerA community for soccer (football) fans to discuss news, highlights, and analysis of the sport.https://www.reddit.com/r/soccer/
r/golfA subreddit for golf enthusiasts to discuss news, tournaments, and strategies for playing the sport.https://www.reddit.com/r/golf/
r/tennisA community for tennis fans to discuss news, tournaments, and players in the sport.https://www.reddit.com/r/tennis/
r/MMAA subreddit for fans of mixed martial arts to discuss news, events, and fighters in the sport.https://www.reddit.com/r/MMA/
r/boxingA community for boxing fans to discuss news, events, and fighters in the sport.https://www.reddit.com/r/boxing/
r/horseracingA subreddit for horse racing enthusiasts to discuss races, tracks, and betting strategies.https://www.reddit.com/r/horseracing/

Fantasy Sports and General Sports Subreddits

Subreddit NameDescriptionLink
r/fantasyfootballA community for fantasy football players to discuss strategies, rankings, and draft picks.https://www.reddit.com/r/fantasyfootball/
r/sportsA general sports subreddit for discussions about various sports and related news.https://www.reddit.com/r/sports/
r/cfbA community for college football fans to discuss news, highlights, and analysis of the sport.https://www.reddit.com/r/cfb/

Sports Team Subreddits

Subreddit NameDescriptionLink
r/fcbayernA subreddit dedicated to discussions about the Bayern Munich soccer team.https://www.reddit.com/r/fcbayern/
r/reddevilsA community for Manchester United soccer fans to discuss news, highlights, and analysis of the team.https://www.reddit.com/r/reddevils/
r/LiverpoolFCA subreddit for Liverpool soccer fans to discuss news, highlights, and analysis of the team.https://www.reddit.com/r/LiverpoolFC/

To that end, feel free to explore articles:

Sports betting enthusiasts engaging in online communities to discuss betting strategies and share tips.
Articles
Liam Tremblay

5 Subreddits Every Sports Betting Enthusiast Should Follow

Attention sports betting enthusiasts! If you’re anything like us, you’ve probably spent hours combing through the Internet to find the best betting tips, news, and strategies. Look no further! We’ve compiled a list of the top 5 subreddits every sports betting aficionado should follow, as well as a few additional suggestions to expand your knowledge even further. These communities offer a wealth of knowledge and engaging discussions that will keep you entertained and informed. So let’s dive right in!

Read More »

Frequently Asked Questions (FAQ)

See the Betting Resources FAQ to get answers to common questions related to sports betting in Canada, from legality to taxes and more. 

Legal Aspects of Sports Betting:

Yes, sports betting is legal in Canada. However, the regulations vary by province.

In most cases, winnings from sports betting are not taxable in Canada. However, if the Canada Revenue Agency determines that you are a professional gambler or your betting activities are considered a business, you may be required to pay taxes on your winnings.

The legal gambling age in Canada varies by province. In most provinces, the legal gambling age is 19, while in Quebec, Manitoba, and Alberta, the legal age is 18.

General questions

Yes, live or in-play betting is available for Canadian bettors through many online sportsbooks.

The most common types of sports bets in Canada include moneyline bets, point spread bets, over/under bets, futures bets, and prop bets.

The most popular sports to bet on in Canada include ice hockey, Canadian football, soccer, basketball, and baseball.

There are several popular payment methods for depositing and withdrawing money from sportsbooks in Canada, including credit cards, e-wallets like PayPal and Skrill, bank transfers, and prepaid cards.

Responsible gambling resources in Canada include the Responsible Gambling Council, Gamblers Anonymous, and provincial helplines and support services.

Yes, many sportsbooks offer bonuses and promotions specifically for Canadian bettors, including welcome bonuses, deposit bonuses, free bets, and cashback offers. Be sure to read the terms and conditions before participating in any promotions.

Betting Glossary

Become familiar with our Betting Resources glossary for key terms and vocabulary you may encounter in our articles or across the web.

Betting Types

A single bet that combines multiple individual bets (legs). All legs must be successful for the accumulator to win.

A bet placed on the point spread, in which a team is expected to either win by a certain number of points or lose by no more than a specific margin.

Bets placed on events that will occur in the future, such as the winner of a championship or season.

A method used by bookmakers to level the playing field in a sporting event, often by assigning a point spread.

Placing bets on events that are currently taking place.

A bet placed on the total number of points, goals, or runs scored by both teams combined in an event, with the bettor choosing whether the actual total will be over or under the number set by the bookmaker.

The number of points by which a team is expected to win or lose, as determined by the bookmaker.

Bets placed on specific events or occurrences within a game, such as the first goal scorer or total number of penalty minutes.

A type of point spread bet in hockey, typically set at +/- 1.5 goals.

Betting Strategies and Concepts

A betting strategy where a bettor places wagers on all possible outcomes of an event at different odds, ensuring a profit regardless of the outcome.

The total amount of money a bettor has set aside for betting purposes.

An advantage a bettor has over a bookmaker, often achieved through knowledge or skill.

The percentage of profit a bettor makes on their bets over a specific period.

Betting Terminology and Odds Formats:

An individual or organization that accepts bets from customers and sets odds for various events.

A popular odds format in Europe, Australia, and New Zealand that shows the total payout for a winning bet, including the original stake.

A popular odds format in the United Kingdom and Ireland that displays the potential profit relative to the original stake.

A popular odds format in the United States and Canada that displays either the amount you would need to bet to win $100 on a favorite or the amount you would win if you bet $100 on an underdog.

The commission charged by bookmakers on bets, typically built into the odds.

A knowledgeable, experienced bettor who consistently wins bets.

An organization or establishment that accepts bets on sports events.

Betting Terms:

A bet with odds of 1:1, meaning the potential profit is equal to the original stake.

The team or individual expected to win an event, as determined by the odds set by the bookmaker.

When a bet results in a tie, with neither the bettor nor the bookmaker winning. The original stake is usually returned to the bettor.

The team or individual expected to lose an event, as determined by the odds set by the bookmaker.

Typical Betting Strategies

Learn about typical strategies that can improve your betting experience and boost your chances of success.

Value Betting

Value betting is a strategy that involves identifying bets with odds that are higher than the true probability of an outcome. By consistently betting on value opportunities, bettors can potentially achieve long-term profits.

Pros

Cons

Potential for long-term profits

Requires expertise in assessing value

Can exploit bookmakers’ mistakes or biases

Involves researching and analysis

Focuses on bets with favorable odds

Requires discipline and patience

Aligns with the concept of expected value

May experience short-term losses

Flat Betting

Flat betting is a strategy where a bettor wagers the same fixed amount on every bet, regardless of the odds or perceived value. This approach helps bettors manage their bankroll and reduces the risk of large losses.

Pros

Cons

Simple and easy to implement

Limited potential for large profits

Helps manage bankroll and control losses

Doesn’t take into account value or odds

Reduces the risk of significant financial loss

Relies on consistent winning over time

Provides a straightforward betting approach

May result in missed value opportunities

Martingale System

The Martingale system is a progressive betting strategy in which bettors double their stake after each loss. The goal is to recover previous losses and profit from the original stake when a win occurs. This strategy is best suited for bets with close to even odds but comes with the risk of significant losses during long losing streaks.

ProsCons
Can recover losses and potentially make a profitRisk of significant financial loss during losing streaks
Can be effective with bets close to even oddsRequires a large bankroll to sustain doubling the stakes
Simple and easy to understandDoesn’t consider value or long-term profitability
Provides a structured approach to bettingReliance on a single win to recoup losses

Fibonacci System

The Fibonacci system is a progressive betting strategy based on the Fibonacci sequence of numbers (1, 1, 2, 3, 5, 8, 13, …). Bettors increase their stake following the sequence after each loss and return to the beginning of the sequence after a win. This strategy aims to recover losses over multiple bets but can also lead to substantial losses during prolonged losing streaks.

Pros

Cons

Offers a progressive recovery of losses

Risk of substantial losses during extended losing streaks

Provides a structured betting sequence

Requires a larger bankroll for higher Fibonacci numbers

Can result in profits with a few consecutive wins

Doesn’t guarantee long-term profitability

Simple to follow and understand

Relies on the assumption of eventual winning streaks

Labouchere System

The Labouchere system is a negative progression betting strategy in which bettors create a sequence of numbers representing their desired profit. They bet the sum of the first and last numbers in the sequence, crossing them off after a win and adding the sum to the end of the sequence after a loss. This strategy aims to achieve a specific profit but can be complex and risky during losing streaks.

Pros

Cons

Targets a specific profit goal

Can be complex and challenging to manage

Provides a structured approach to betting

Requires careful planning and tracking of sequences

Offers potential for controlled risk and reward

Risk of substantial losses during extended losing streaks

Allows customization based on desired profit

Relies on consistent winning to achieve the goal

Kelly Criterion

The Kelly Criterion is a mathematical formula that calculates the optimal bet size based on the perceived edge and odds. This strategy aims to maximize the long-term growth of a bettor’s bankroll while minimizing the risk of ruin. However, it requires accurate assessment of the bettor’s edge and can lead to significant fluctuations in the bankroll.

Pros

Cons

Maximizes long-term growth of bankroll

Requires accurate estimation of edge and odds

Considers risk and reward in bet sizing

Can result in significant fluctuations in bankroll

Helps optimize betting strategy

Relies on reliable and consistent estimation of probabilities

Provides a mathematical framework for decision-making

Doesn’t guarantee success in every individual bet

Arbitrage Betting

Arbitrage betting is a strategy where bettors place wagers on all possible outcomes of an event at different odds, ensuring a profit regardless of the outcome. This strategy relies on finding discrepancies in odds between different bookmakers or betting exchanges, and it requires quick decision-making and a large bankroll to take advantage of these opportunities.

Pros

Cons

Guarantees a profit regardless of the outcome

Requires finding and capitalizing on discrepancies in odds

Exploits market inefficiencies

Requires quick decision-making and execution

Can be used as a standalone strategy or in combination with others

Requires a significant bankroll to take advantage of opportunities

Doesn’t rely on predicting the actual outcome

Limited availability of arbitrage opportunities

Hedging

Hedging is a strategy that involves placing a bet on the opposite outcome of an initial bet to secure a guaranteed profit or minimize potential losses. This strategy is typically used in live betting or when odds shift significantly in favor of the bettor’s initial bet.

Pros

Cons

Minimizes potential losses

Reduces potential profits

Provides insurance against unfavorable outcomes

Requires careful monitoring of odds and market conditions

Allows flexibility in adjusting betting positions

Timing and execution are critical

Can secure a guaranteed profit

May result in missed profit

Canadian sports bettors studying arbitrage betting techniques
Articles
Ethan Moreau

101: What is Arbitrage Betting? (Full Example)

Hello, Canadian sports betting fans! Curious about arbitrage betting and its potential advantages? In this article, we’ll demystify arbitrage betting, explain its mechanics with engaging examples, and reveal how it can yield consistent profits for Canadian bettors. Let’s dive in!

Read More »

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