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Best Ontario Online Sportsbooks: The Complete Guide and FAQ

If you are looking for the best, safest, and completely legal online sportsbooks in Ontario, you have come to the right place. On this page, we are bringing you all the information about licensed Ontario sports betting operators and everything else you need to know before placing your bets.

Canada has had some peculiar laws when it comes to sports betting and gambling in general, with the Ontario Lotteries and Gaming Corporation holding a monopoly over the market for many years.

In 2021, this monopoly was finally broken, as the necessary laws were voted into power to allow private gaming companies to come into the market and get proper gaming licenses in the biggest Canadian province.

Starting with April 2022, Ontario sports betting has expanded greatly, with many international sportsbooks getting their licenses and starting to offer their services to the players in Ontario.

With millions of people waiting for online sports betting in Ontario, we are likely to see an explosion of the market, which will finally have proper competition driving the operators to provide better services and offer the kind of products that Canadian players deserve.

If you are looking to bet on sports in Ontario in the coming weeks and months, keep reading and find out which best Ontario sportsbooks to bet with, how we got to where we are not, and what types of betting markets and services you can expect from the new players in town.

Online Sportsbooks in Ontario

Rarely has a new online gambling market opened as strongly as Ontario, with dozens of gambling operators ready to launch their products and hit the ground running..

The main companies to enter Ontario are online sportsbooks that have made a name for themselves in the regulated US states and are looking to expand into all markets across North America.

BetMGM Sports is at the top of the list of the best Ontario sportsbooks you can expect to see active in the early days of April. BetMGM joined forces with Entain to deliver this product to Canadian players, which means we are definitely in for a top-notch product from the owners of the likes of Coral, bwin, and Ladbrokes, some of the world’s biggest sports betting sites.

FanDuel Sportsbook is yet another operator with a strong presence in the US which has decided to come up to Canada and expand its reach. The popular fantasy sports platform now offers hundreds of betting markets as well and one of the most modern sports betting platforms around.

DraftKings Sportsbook offers a similar product to FanDuel, which is why the two tried to merge back in 2016, before the Federal Trade Commission stopped the merger to avoid a monopoly. DraftKings continues to offer one of the finest fantasy and sports betting products around and will be entering the new market as one of the best Ontario sportsbooks without a doubt.

Based out of Chicago, BetRivers is yet another big-name US operator entering the Ontario market and bringing with it the experience and skills needed to offer premium service right away. Like BetMGM, BetRivers joins the fray early in April and pushing for a big share of the market.

PointsBet is another major online sportsbook that’s announced its entry into Ontario, with the operator offering a unique “points betting” system which distinguishes them from the competition. PointsBet will offer a bit of versatility and another premium mobile betting platform for everyone looking to make sports bets, especially on spread markets.

Ontario Online Sports Betting Laws and Regulations

For many years, single event sports betting was illegal in Canada and Ontario, which meant players who wanted to make sports bets would go to offshore betting sites to place their bets. In June 2021, Bill C218 abolished this ban on single sports bets, paving the way for legal sportsbooks in Ontario.

The new law also abolished the monopoly that Ontario Lotteries and Gaming Corporation (OLGC) had in the province, allowing for licensing of other private gaming companies. The government founded iGaming Ontario, a subsidiary of the Alcohol and Gaming Commission of Ontario, to license and oversee the operation of online sports betting in Ontario.

Once all the rules and standards were put into place, the official launch of online gambling in Ontario was scheduled for April 4, 2022.

From this point forward, private gaming operators who want to operate in Canada need only apply with iGaming Ontario and prove that they can adhere to all the standards of this regulatory body. With that done, a license is issued and the operator can work like they could in any other legal market, making Ontario a new heaven for international sports betting sites.

Ontario Online Sports Betting Taxes

When it comes to taxes on sports betting in Ontario, there are two things to consider. The first is the taxes that sports betting operators will be paying to the government, and the other are the taxes you may need to pay on your sports betting winnings.

According to the current laws and regulations in Ontario, online gambling operators will not be paying taxes as such, but will rather enter into a revenue share deal with the government. While this may not be a tax on paper, it is in fact a tax on all revenue generated, and at this time it appears that operators will pay about 20% of their gross revenue. That said, this is significantly lower than the 55% that live casinos in the province have to pay.

When it comes to actual players, there is good news. Everyone who bets on sports in Canada and is not a professional gambler does not need to pay any tax on their gambling winnings. That’s right, gambling profits are exempt from taxes, with the operators being the ones paying the tax from the money they win off players.

Betting on Sports in Ontario

Starting with April 4, 2022, all sports fans in the province of Ontario have plenty of options to legally bet on sports of their choosing. With about half a dozen operators available from the get go and more likely to join, the market will be saturated, with some great opportunities for the bettors.

In order to bet on sports, you will need to register with one of the licensed operators and confirm your identity. You can download an app to your phone for quick and easy betting, with each of the best Ontario sportsbooks offering a dedicated betting app for Anrdoid and iOS devices alike.

Once you register and fund your account, you will have the option to bet on any sporting events you choose. The list of betting markets is long and there are plenty of options for fans of all sports, ranging from hockey, football, and basketball, to tennis, boxing, and soccer.

The operators will also be allowed to offer live betting, which means you can bet on matches that are already underway. Placing in-play bets via a mobile betting app has never been simpler, and is a great way to make watching sports even more fun.

Online Sportsbooks Ontario: Safety and Fairness

With legal sports betting coming to Ontario, some things are about to change. Instead of placing bets with insecure international bookies that are out of Canadian jurisdiction, all bets will now be taken by operators that are legally registered within Canada.

All gaming licenses for the gambling sites in Canada will be issued by iGaming Ontario, the new regulatory body for online gambling. This body will ensure that the operators adhere to the strictest security and fairness standards and provide their customers with the best care and the utmost privacy.

Ontario betting sites are protected by SSL certificates and high-end encryptions which prevent any data leaks. They are also obligated to keep all their user data private and neither sell it or share it with other entities.

When it comes to monetary transactions, these are also very secure. Operators can only use the best and safest payment methods in the world, and you will not be directly sharing your banking data with the actual sportsbooks. This means you will always be safe and you can be sure that your money will be kept safely and segregated from any operating funds of the companies running the sportsbook.

Banking Options at Ontario Sportsbooks

As already briefly mentioned, all licensed sportsbooks in Ontario are allowed to use tried and tested payment methods on their platforms, ensuring the security of their users.

Players still have more than enough different methods to move their money around, with traditional banking options and e-wallets both available. Quick and affordable transactions are key, and moving money with these payment methods will ensure that.

The following are some of the payment methods that players at best Ontario sportsbooks will have access to for deposits and withdrawals:

  • MasterCard
  • AmEx
  • Visa
  • PayPal
  • Skrill
  • Neteller
  • ACH/e-check
  • Online Banking

FAQ

Is sports betting legal in Ontario?

Yes! Sports betting is now fully legal in Ontario, following the Parliament’s decision from 2021 that legalized single event sports betting. Starting on April 4, 2022, private online sportsbooks are launching in Ontario, and the online betting market will launch in full.

Where can I bet on sports?

A number of sports betting sites have applied and been granted sports betting licenses. Some of the biggest ones include BetMGM, BetRivers, PointsBet, FanDuel, and DraftKings, and more are likely to follow. You can bet legally on any sportsbook that’s licensed by iGaming Ontario.

What sports and markets can I bet on in Ontario?

Canadian sports bettors in Ontario have access to a whole range of betting options. Popular sporting competitions from Canada, US, and the rest of the world are all available, with dozens of different betting markets on offer, including moneyline, spread, and points betting.

Who regulates the Ontario betting market?

Online sports betting, and other forms of online gambling, are regulated by iGaming Ontario, a newly founded subsidiary of the Alcohol and Gaming Commission of Ontario.

How can I fund my online betting account?

You can use a range of payment methods to make deposits into your online betting accounts in Ontario. These methods include popular credit and debit cards, direct banking transfers, checks, and e-wallets such as Skrill, Neteller, and PayPal.

Do I need to pay taxes on my sports betting wins?

No! Canadian players are exempt from paying tax on their gambling winnings, unless they are registered as professional gamblers. Instead, the government will be taking a share of the revenue made by online gambling sites, in the 20% region.