Most Common Types of Bets in Canada

The time when we could only bet on the winner of the match is long gone. Today, bookmakers across Canada offer many types of bets. Some of them are less risky, some carry more risks. Also, there are quite simple ones that will suit inexperienced players. But there are also

types of bets that will require appropriate prior knowledge and experience to be successfully predicted. No matter which variant the Canadian players choose, they will find a detailed explanation in our text. There are a few examples to make it easier to understand as well.

The Best Betting Sites in Canada 2023

Expert Rating
Welcome Offer
  • Generous welcome offer and ongoing sports promotions
  • Good selection of sports
  • Competitive odds
93 Payout Ratio
  • Generous welcome offer and ongoing sports promotions
  • Good selection of sports
  • Competitive odds
Vulkanbet Review
19+. Gambling can be addictive, please play responsibly: This promotion offers three different bonuses: 100%, 125%, and 150% of the deposit total. • Opt-in required • Terms apply
  • Streamlined and simple user interface
  • Excellent new user bonuses & daily bonuses
  • Huge variety of sports & betting markets
93 Payout Ratio
  • Streamlined and simple user interface
  • Excellent new user bonuses & daily bonuses
  • Huge variety of sports & betting markets
Spin Sports Review
19+. Gambling can be addictive, please play responsibly: 1st Deposit - Free Bet up to C$ 200 • New customers only • Min deposit C$ 10 • Wagering at odds of 1.3+ to unlock free bet • Opt-in required • Terms apply
  • Live Streaming
  • Early Cashout
  • Statistics and Handicapping Tools
93 Payout Ratio
  • Live Streaming
  • Early Cashout
  • Statistics and Handicapping Tools
Ivibet Review
19+. Gambling can be addictive, please play responsibly: This offer is only available to new players who made their first deposit and selected this offer as a welcome bonus. All players must be 18+ years old and of legal age to gamble.
  • Receive a 100% Bonus after your qualifying bets with a total stake of five times your initial qualifying deposit
  • odds of at least 1.5 on single bets or multi bets with cumulative odds of 1.7
94 Payout Ratio
  • Receive a 100% Bonus after your qualifying bets with a total stake of five times your initial qualifying deposit
  • odds of at least 1.5 on single bets or multi bets with cumulative odds of 1.7
20bet Review
19+. Gambling can be addictive, please play responsibly: This offer is only available to new players who made their first deposit and selected this offer as a welcome bonus. All players must be 18+ years old and of legal age to gamble. General 20bet Terms and Conditions apply unless otherwise stated.



Moneyline belongs to the types of bets that are considered the easiest for beginners. So, if you don’t have too much experience with betting markets, you should start with moneyline. It is also known as the two-way wager, as involves choosing one of two possible outcomes. In the moneyline, you can wager on the victory of one or another team/player participating in the match. One team/player is the favourite of the match, while their opponents are considered underdogs. Below you can see how bookmakers represent favourites and outsiders when it comes to odds:

  • Favourite – the team/player expected to win the match. The favourites always have lower odds compared to the underdog. It means that according to the odds organizer, that team should win. Also, lower odds come with lower profits.
  • An Underdog (Outsider) – is a team/player who is not expected to win. The underdog always has higher odds, mostly above 2.00 which means that chances of winning are slim.


1×2 are the simplest types of bets. They involve accurately predicting one of three possible outcomes. They are called three-way wagers as well. It can be applied in those sports matches in which there is a draw. Some of these sporting events, among which these types of bets are the most used, are football matches. Mark 1 means the victory of the home team, ie the team on whose field the sporting event takes place. Mark 2 indicates the victory of the visiting team in the match. X implies a draw.

Let’s say that the Santiago Bernabeu is the field where the match between Real Madrid and Liverpool will take place. Since Real is the host of this event, in a 1×2 wager it would be marked with number 1. On the other hand, Liverpool would be represented by number 2. However, there is a possibility that the match will be played on neutral ground.

In that case, the first listed team would be marked with the number 1. The second listed team would be marked with the number 2. What we will mention is that you do not have to play 1X2 as a single wager. It is possible to combine multiple 1X2 types of bets to form a double, triple, or accumulator ticket. This will increase your potential return.

Double Chance

One of the low-risk types of bets is the double chance. The double chance option allows us to wager on two outcomes of a sporting event at the same time. It applies to both the first half and the final result of the event. Choosing this market reduces the risk of loss, and below you will see how. However, regardless of the lower risk, this market has lower odds compared to other markets. The classic double chance, with no combination with other markets, should involve higher stakes to bring some reasonable profit.

The double chance types of bets look like this:

  • 1X. 1 is the victory of the hosts while x is a draw. By choosing the 1X double chance type, you opt for both outcomes. You lose if the guest wins the match.
  • X2 is a double chance bet in which you choose a draw or a guest win. You lose if the host wins.
  • 12. It includes the victory of the guest or the host of the match. You lose if a sporting event ends in a draw.

Draw no bet

Draw no bet

Another less risky wager is draw no bet. It means that if the team you wager on plays a draw in that match, your stake will be returned. So, you only lose in case you don’t hit the winner of the match. Precisely because of the possibility of draw insurance, this market is so popular among less experienced players. It is popular in many sports. Some of them are football, cricket, American football, boxing, ice hockey, horse racing, and others. If a bookmaker has an Asian handicap of 0, you should know that it operates on the same principle as a draw no bet. We will mention at the end that since the draw is excluded, this market has slightly lower odds than other types of bets.

Over/Under (Totals)

Over/under or totals are one of the traditional betting markets. It can be used in many sport events. Also, there are a large number of over/under types of bets. Some of the sports in which they are most commonly used are football, basketball, American football, tennis, and others. Your goal with over/under would be to predict whether there will be more or fewer hits than a certain number offered by the bookmaker.

For football matches, the offer most commonly refers to over/under 2.5 goals per match. If you chose over 2.5, you will need three or more goals to win. If you chose under 2.5, then you would need two goals or less to win. During the year, the over/under offer at bookmakers websites increased. Now you can wager not only on goals, but also on the number of corners, red/yellow cards, and more. These various over/under types of bets are also applicable to other sports. You can choose over/under the total number of free throws in basketball, served aces in a tennis match, and even how many “yards” a certain player will have in American football.

European and Asian handicap

There are two main handicap types of bets, European and Asian. The European handicap is threefold, as it allows for three outcomes, victory defeat, and a draw. On the other hand, the Asian handicap belongs to a group of two ways types of bets. In the Asian version, there is only a victory or defeat. Another difference is that the Asian handicap, include the quarter-ball, half-ball and whole-ball handicaps. The European handicap contains only integer numbers.

Apart from this, both handicaps work on the same principle. Before the start of the match, the bookmaker determines the margin of the handicap. Favourites are deprived of a certain number of points, while outsiders are given a certain number of points. Given that the favourites are handicapped at the start, they have to score more for your bet to win. So, if you are betting on a -2 European handicap in football, the favourite must score at least three times to have one goal more than the outsider.



While in the moneyline you only need to predict the winner of the event, the spread is slightly more complicated. Spread or line also includes favourites and outsiders. But you need to predict how many points participants will score. Prediction point is popular especially in basketball and football, as these are two sports in which more points are scored during the game. Sports with fewer points are hockey, baseball, and others. The spread is used to equalize the odds between two unequally tied teams.

Outsiders in front of the odds contain a plus sign, which gives them an advantage right from the start. The favourites in front of the odds have a minus which gives them a handicap at the beginning of the match. Odds are usually set at +/- 110 on both sides. It means that whether you choose favourites -3 or outsiders +3, you will win the same amount of money. Sure, the prediction should be correct. There is also a push situation in the spread. Pushing is when the final result of the game coincides with the number of spreads. If there is a match of points, the invested money returns and the bet ends in a draw. With other types of bets, you may encounter a push situation as well.

Correct Score

Betting on the accurate result is one of the riskiest types of bets. As its name suggests, this market involves guessing the exact score of a sporting event. Depending on the chosen sport, you need to predict the accurate number of points, goals, and baskets scored.

The general rule is that all sports events are unpredictable. As much as one team may be strong and the other weaker, it is never easy to guess what the result will be at the end of the duel. That is why you need to use strategy and all available information more than in other types of bets.

You should be a faithful companion of the sport. Also, you should be well acquainted with the achievements and tactics of the teams participating in the match. Statistics can always give you the best perspective to win. So, use all the data that is provided to you. Follow the current form of teams, characteristics, achievements of players, and more.

Odds for betting on the accurate result can be extremely tempting and go over 20. However, there are options to predict which result will be at halftime. In that case, you will have a slightly higher chance of guessing. In football events, the first match half often passes without goals. So the result of 0:0 is one of the most common for the first half. Odds are then lower considering a higher probability that you will hit the outcome of the half-time.

Exact total goals

This market has a lot in common with the past above betting type. It means that you have to predict the exact number of goals scored by both teams participating in the event.

So, you are not looking at individual achievements, but overall. Some of the available options are 1+, 2+, 3+, and others. 1+ is the best option to combine with both teams to score. In both cases, you anticipate two goals in the sporting match. The highest available exact total goals option is 6+. The operation principles of these types of bets, you can see below:

  • If the result of the match is 0-0, then the exact total goals will be 0.
  • If the result of the event is 3-1, then the exact total goals will be 4.
  • In case the result is 5-2, then the exact total goals will be 6+.

The first team to score

The first team to score

In this wager, the goal is to predict which team will be the first to score at a sporting event. If you bet team X would be the first to get lucky and team Y’s net shakes, you won. With this wager, unlike other types of bets, the overall result is not significant at all. So, if your team scores a point at the end of 10 minutes, you can relax until the end of the match. Also, it doesn’t matter at what time of the event the point is scored. For your wager, the point scored at the beginning of the first half, or the end of the second half will be equally valid.

Both teams to score

The goal of this market is to predict whether both teams participating in the match will score or not. In order for your ticket to win, both teams need to score at least one goal in the event. Apart from this, you can also choose that none of the match participants will have a successful point in the match. Also, you can select both teams to score market both at halftime and for the final match result. You can see that this is also one of the very simple and less risky types of bets. Precisely because of this, it is often chosen by less experienced players. It does not require the player to bother much with statistical information and learning.

Odd/even total goals

The odd/even market is quite easy to understand. Odd/even count for the result of 90 minutes or half time where the goals scored are added up. If the sum of goals scored is 1,3,5,7 and the like, it would be odd. In case the match would be ended with a sum of 2, 4, 6, etc., there would be an even. However, you must be wondering what happens if the game ends with 0:0. If none of the participants scores at least one goal, it is assumed that there is an even number.

Many choose odd/even markets because it keeps them engaged throughout the game, unlike other types of bets. With over/under, already at the beginning of the second half, the result can be 3:0. So if you chose under 2.5 you will lose the stake, and there is no point in watching the match. Unlike over/under, odd/even will keep you included until the end of the match. That’s because you are not interested in the total number of goals, but only their sum.

Bet365 Bet365 Review 93/100
  • More than 20 million users worldwide
  • Excellent interface on desktop & mobile
  • Highly competitive odds for all events

Run Lines

One of the most common types of bets on baseball is the run line. It has a lot in common with the spread wagering. Since baseball is a sport with a lower number of points compared to football and basketball, the run line functions differently from the spread market. The run line requires a team to win by a certain point difference or lose by less than a certain point difference. You will often see that the run line is fixed at 1.0 or 1.5.

We will take 1.5 as an example, to explain how the run line works.

A wager of -1.5 means that the favourites would have to win a game with two or more runs. If the match ended with 2:3, which is less than 2 differences, the stake would be lost. And if the match ended with 2:4, you would win the wager.

The team with the minus sign behind their name represents the favourites in the baseball event. The team with the plus number behind the name represents the underdog or outsider at the baseball event.

Props – types of bets

The bets on the propositions in sports do not depend on the final result or outcome of the match. They are a great way to add extra action and are often easier to beat than the market by points. While some bets on props may be just for fun and do not require much skill, others require as much research as the types of bets on points. Props can include anything. They can go from which team will score 10 points to how long the anthem will last, which T-shirt the coach will wear, and more. Also, props can apply to both the players and the game itself. They are used in various sports due to their extreme flexibility as well. In the following list you can see some of the types of bets on props in different matches:

  • Football – Will there be more or less than 2.5 touchdowns?
  • Basketball – Will player X score more / less than 7.5 assists?
  • Hockey – Will there be a point in the first 10 minutes of the game?
  • Baseball: Will player X score 8 shots?

Acca/accumulator/combined tickets

Multiple or accumulator represents combined types of bets, which contains several individual choices. Accumulator consists of at least two events combined into one online ticket. Although the number of events can be any, bookmakers set limits on both the minimum and the maximum choices. A ticket containing two events is known as a ‘double’. The ‘treble’ is the name for a ticket that has three events. Many players prefer accumulator tickets for two main reasons.

First, a combination of two or more different selections means that you may get extraordinary odds. Such high odds can be difficult to find in standard single types of bets. Second, the accumulator allows you to include a lot of different sports in one ticket. Some of the sports where combined tickets are popular are football, American football, horse racing, rugby, tennis, basketball, and more.

The total accumulator can be calculated by multiplying the odds for each event included on the ticket. Let’s say that the online ticket contains events with odds of 1.5, 3.0, and 4.5.

Types of bets Odds
Manchester United first to score 1.5
Real Madrid hanndicap –3.5 3.0
Buffalo Bills to win 4.5

So the calculation would go like this: 1.5 x 3.0 x 4.0

The total accumulators’ odds would be 20.25.

If you invest $50 and successfully predict all three events, your potential gain would be $1,012.5.

But these types of bets combined together also have some drawbacks. With ”Acca” tickets, all selections must be accurately foreseen for the wager to win. If one of the selections loses, the entire accumulator is invalid. But, designing bookmakers are trying to reduce this risk by offering ”Acca” bonuses. Accumulator bonuses mean that a combined ticket can be won in case of only one failed prediction.