Bookmakers

Understanding bookmakers online

Sports betting online is a growing business, but this can make it very hard to know which is the best bookmaker Canada has to offer. Bookmakers will also offer a range of different features and sports, making the decision even harder. With this in mind, we’ve got a complete list of bookmakers online, perfect for Canadian players.

But you might have other questions. Throughout this guide, we will cover everything you need to know about bookmakers, and betting at one, to give you the best start to your online gaming. Keep reading to find out more.

What is a bookmaker?

A bookmaker is simply an organization or person that accepts bets on sports. Not only will they accept these bets, but they will also pay out any bets that are won. Often known as a bookie, bookmakers will also set and adjust odds to try to create a balance between the wins and losses.

This does mean that some bookies will be offering better odds than others for similar events. This is one of the key things you will need to consider when taking on a sports bet or choosing where to play. We’re going to cover all this and more.

How do bookmakers calculate odds?

It may sound like it’s an easy job to be a bookmaker, but actually it is not. Bookmakers have to deal with the fact that sports are hard to predict – and they have to do this in one of the most competitive jobs.

Calculating odds is a fine art, as it has to walk the line with giving the bookmaker the opportunity of making a profit while also being appealing to the player. Odds are simply the likelihood of an outcome, but they don’t just reflect the probability of an outcome.

Bookie odds also reflect the outcome to the right proportion. This is so that they can make a profit no matter which outcome occurs — enough players have bet on each option. Essentially, the bookmaker removes any variance.

Odds are calculated by setting a starting margin, often 5%, then setting the odds to include this small commission. This is called the Overround or Vig and is then part of the odds that players will see and use. The main odds are then calculated carefully based on statistics of the games, history, form of a team and of course, human opinion.

Why bet at a bookmaker online?

With bookmakers making the transition to the online platform, it will come as no surprise that this is a great way for you to enjoy online betting. Really, betting online is just much more convenient than having to head into a land-based bookie.

On top of that, payouts are much more instant than they are in a land-based venue. When you get a win, the bookmaker online automatically registers this, adding the payout to your account. In contrast, for a land-based site, you’d actually need to go into the shop to collect a win.

Better still is the fact that online bookmakers are able to offer you a range of bonuses that include free bets, cashback bonuses and more — something unheard of in a brick and mortar venue. And finally, there’s a chance to get the most competitive odds in the industry, as you can shop around.

What is the best online bookmaker?

So, what makes a good online bookmaker? Well, there are a number of things that you, and we, consider when choosing the best sites. As a starting point, good bookmakers have an easy-to-use interface that’s easily navigable. Their page also needs to be compatible across a range of devices, allowing you to play on a mobile.

Top sites need to be highly secure, using the latest encryption protocols to protect your private data. This includes offering quality, secure payment options that operate in a timely fashion. Security is also covered by gaming licenses and reputable software providers, which always need to be checked.

A bookmaker Canada that wants to rank high will also offer a wide range of markets. This means covering a vast array of different sports as well as offering the chance to bet on political events. Top bookmakers Canada will also include virtual and live betting opportunities to ensure 24/7 betting is available.

Finally, good sites also provide a range of bonuses, promotions, competitive odds and a range of betting types, enabling you to choose an option that suits you.

Bookmaker tips

With so much going on, it can be hard to know if you’re actually able to make money at a bookmaker. Happily, there are a number of tips available that can help you to generate a relatively regular turnover. Here are some of the top tips to consider:

• Choose a good bookie with competitive odds
• Create a working betting strategy
• Do research — head over heart when placing bets
• Be consistent in your betting
• Avoid accumulators as they are not good value for money

However, none of these tips will guarantee you betting success; they’re just here to help you on your way a little. After all, sports betting is unpredictable – that’s part of the fun!

How to become a bookmaker

With all this going on, you may be thinking it’s easier to become a bookmaker. So, how do you do this? Well, you need to learn the art of getting the amount of money on each bet to give you a profit on all results. This means getting good at adjusting odds. This does require a lot of skill and knowledge, so you’ll have to brush up on a lot of different sports.

You will also need to get legally set up, which means getting the right license in Canada, choosing whether to go independently or partner up, whether to go online or physically and so on. This all takes a lot of money, so it may not be worth it for you in the long run.

At the end of the day, playing at a bookmaker is a lot easier than becoming one. Play your cards right, and you’ll make some profit on sports just as a bettor.

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