In Canada, hockey is more than just a sport – it’s a way of life. From small towns to big cities, Canadians are passionate about the game and are known for their unwavering support of their favorite teams. With the growing popularity of hockey, it’s no surprise that many Canadians are interested in legal hockey gambling.
The federal government and the individual provinces regulate hockey gambling in Canada. The federal government has given the provinces the authority to handle all forms of gambling within their borders, including hockey gambling. As a result, hockey gambling rules and regulations can vary from province to province, with Ontario being the first to embrace the pastime.
There are two main ways to legally gamble on hockey in Canada – through government-run sports betting programs or licensed online casinos and sportsbooks.
Government-run sports betting programs, such as Pro-Line in Ontario, allow Canadians to place bets on various sports, including hockey. These provincial lottery corporations operate these programs and are typically available at retail locations, such as convenience stores and gas stations. While these programs offer a legal way to gamble on hockey, the odds of winning are generally lower than at online sportsbooks.
On the other hand, licensed online casinos and sportsbooks offer a wider variety of betting options and better odds. These sportsbooks are licensed and regulated by the provincial governments and provide a safe and secure way to gamble on hockey. Some of Canada’s most popular online sportsbooks include Betway, Bodog, and Sports Interaction.
When it comes to betting options, hockey gamblers have a variety of choices. The most popular types of bets include moneyline bets, where you pick the team you think will win, and point spread bets, where you bet on the margin of victory. Other popular betting options include over/under bets, where you bet on the total number of goals scored in a game, and prop bets, which are bets on specific events or occurrences within a game.
It’s important to note that certain hockey gambling restrictions exist in Canada. For example, it’s illegal to gamble on amateur or youth hockey games and any games involving Canadian college or university teams. Additionally, sportsbooks are not allowed to offer in-game betting on individual events or plays during a game. However, these restrictions do not apply to international hockey games like the Olympics or the World Cup of Hockey.
In terms of taxes, Canadian gamblers are not required to pay taxes on their winnings. This is because gambling winnings are not considered a source of income by the Canada Revenue Agency. However, if you are a professional gambler who makes a living from gambling, you may be required to pay taxes on your earnings.
Legal hockey gambling in Canada offers a fun and exciting way to enjoy the game and win some money. Plenty of options are available if you prefer to bet on your favorite NHL team or follow international tournaments.