Sports betting is popular throughout the world, and Canada is definitely no exception. Sports such as ice hockey, curling, football, soccer and basketball are popular entertainment, and Canadians are no strangers to placing money on their favorite teams.

However, just like any other country, Canada has its own set of laws concerning online sports betting that all citizens must follow. As these laws can be confusing, we’ve outlined the essential aspects concerning you as a sports trader. We’ve also included a list of some recommended betting sites available to Canadian bettors.

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THE LEGALITY OF SPORTS BETTING IN CANADA

The situation regarding gambling laws in Canada is pretty complex, with some regulations being more than 150 years old. The law states that companies should not operate any illegal betting service within Canada but does not specify anything about Canadian bettors using such online services, as it is difficult to enforce. The absence of such regulations means that there are no legal restrictions. However, there are literally dozens of online bookmakers that hold a Canadian license, making it easy for sports bettors to stay on the absolute safe side.

In other words, Canadian players are free to bet online as long as they do it at a platform that carries a valid license.

Also, depending your current location, the minimum legal betting age can be either 18 or 19. Make sure to check out the specifics for your province.

BETTING TAXES IN CANADA

The vast majority of Canadian sports bettors will never pay a cent in income tax on their winnings.

If you don't make a living off of betting, and therefore are not a “professional gambler” in the eyes of the Canadian Revenue Agency, you pay absolutely zero income tax on your sports betting winnings.

However, if CRA does deem you to be a professional bettor, your winnings are considered to be your income and will be taxed accordingly. One upside is that if you run your gambling operation like a business, you can also deduct losses and expenses from your income just like other people who are self-employed.

BEST BOOKMAKERS TO USE IN CANADA

At the moment, there are more than 100 online bookmakers that have a license in Canada. Most of these are top-quality operators, famous for their user-friendly attitude and lucrative offers. These sportsbooks are definitely giving their players what they want!

Bet365

Bet365 is an online bookmaker famous around the world. It accepts players from various parts of the planet, including Canada.

Other than being known for its user-friendly attitude Bet365 offers a solid welcome offer! They match your first deposit with 100% up to $100, giving you a solid kickstart.

Even better, you can use the Oddshero Matched Betting software (click here) to turn over your bonus for free!

888sport

Apart from having great bonus deals, this sportsbook is famous for having a flawless track record of user payouts, as well as offering good customer service.

In terms of bonuses, 888sport welcomes all new customers with a 100% sign-up bonus up to $250!

Betway

This bookmaker is also giving a $200 bonus to its new customers. It is also well known for its very user-friendly business philosophy.

You should also know that this sportsbook is famous for having very attractive odds!

Others

These three are just the tip of the iceberg of bookmakers currently available for Canadian sports bettors. The list of Canadian-friendly bookmakers is long. Create a Trademate account for free (click here) and start beating the bookmakers!

BETTING AT ASIAN SPORTSBOOKS

One way to take advantage of the Asian bookies is by creating an account at a betting brokerage such as Sportmarket, which will give you access to several bookmakers at once. By signing up to one such brokerage you open the door to several sharp Asian bookmakers, which all have more competitive odds than the soft bookmakers.

If you’re looking to trade on the Asian market, our product Trademate Pro will give you access to value bets with the best sharp bookmakers and betting exchanges in the world.

To learn more about why you should use sharp bookmakers, click here.

CONCLUSION

There are great opportunities to earn good money on sports betting while based in Canada. Several bookmakers strive to attract Canadian customers, and therefore offer great service and deals. You don’t even have to pay any taxes on your winnings! In other words, by taking advantage of the relaxed regulations and many available sportsbooks you can become a very successful sports trader in Canada.

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