It wasn’t up until recently that single-event sports betting was legalized in Canada. Before that sports betting in Canada was limited to parlays, mainly via the lottery using PROLINE. With the change in rules, we expect NHL bettors to prosper, with new betting markets and bet types to choose from. To learn more about how single-event betting can benefit those looking to wager on the NHL, read the full article below.
What is single-event sports betting?
To put it simply, single-event sports betting allows bettors to wager on a single team or outcome. This means that a bettor can wager on just one event, like who will win a particular hockey game, or if two teams will go over/under a certain goal total. This is very different from parlay or multi betting which requires bettors to pick multiple winners to payout their bet.
The big advantage of single-event sports betting is the fact that in general they have a greater chance of winning. You only need to make one correct choice for the bet to payout. With parlay bets, even if only one of your choices loses, your entire bet will lose. Check our list of best legal sportsbooks in Ontario to bet on NHL.
Benefits of Single-Event Sports Betting on NHL
With the higher win percentage of single-event betting, comes the better chance to be profitable with your NHL bets. If you’re the type of bettor that likes to bet on heavy favourites, then single-event betting provides the opportunity to grind out smaller but much more probable wins than parlays.
Another key advantage of using single-event bets is the wider variety of bet types. With single-events you can bet on basically every major bet type including:
- Point Spreads
Many of these bet types aren’t available for each and every NHL game when betting via parlays in Canada. So betting with single-event wagers can not only increase your win percentage but also the number of bets you can take part in.
NHL Single-Event Sports Betting FAQ
Looking for quick answers as to why you should be excited for single-sports betting in Canada? Check out our FAQ section below.
Is single-event sports betting legal in Canada currently?
Yes, single-event sports betting was legalized in Canada as of August 27, 2021. A number of top sports betting sites are set to be launched in April of 2022, providing single-event sports betting to the masses.
What type of single-event sports bets are available for the NHL?
A variety of single-event sports bets are anticipated to be featured on each major sports betting site, which include Moneylines, Point Spreads, Handicaps, Over/Unders, Futures, Outrights and Props.
What are the benefits of single-event sports betting?
There are a number of benefits of using single-event sports betting instead of parlays. For one, the chance of winning single-event sports bets are higher than parlays, as only one event needs to take place. Secondly, there is a wider range of betting markets which can be wagered on using single-event bets.