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Sports Betting
Sports betting is when a player places a bet or wager on a predicted sports outcome.
The legality surrounding sports betting in Canada lacks clarity leaving many questions unanswered and having players confused when it comes to selecting. As of now, it is legal when it is provided through provincial or a federal government service.
Some people in Saskatchewan use a government-approved operator as their preferred way to place a bet on a game, and others prefer to use operators not recognized by the government. If players gamble with these gray-market sites, there may be an increased risk.
Gray-markets are jurisdictions that don’t ban online gambling or land-based gambling but lack licensing and regulation to support gambling-related activities.
The most common types of sports betting seen today are Parlays, Single-Event, Same-Game Parlay (SGP), Live Bets, and Prop Bets.
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Parlays are bets that combine multiple wagers from different events.
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Single-Event betting is when a bet is placed on one chosen event in a sports game.
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Same-Game Parlays (SGPs) a bet that combines multiple bets from the same event.
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Live Bets are wagers made after the event has started and while the event is running. The odds change continuously while the game is unfolding.
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Prop Bets are a wager on an individual player or specific game/match that is not directly related to the outcome of a game. This focuses on outcomes within the game and not the game as a whole. Examples can be which player scores the first goal, which player gets the first penalty, etc.
One aspect that makes sports betting unique are dynamic odds. Dynamic odds frequently fluctuate as player favourites, teams, and underdogs will always change and involve many influencing factors, unlike standard casino games. This creates a very high-risk environment when it comes to wagers.
Sports betting is often referred to as a game of skill since bettors can use statistics and gather other information to make an informed bet. While more information about sports might help players understand the game better, it does not lead to an increased amount of wins. There is always uncertainty with any type of gambling, even sports betting, making it a true game of chance.
To find out the effects of sports betting, click here.
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