A Canadian bet is a parlay bet offered by online and conventional land-based sportsbooks. If you're interested in a bet that is more complex than the standard 11 or 15 bets, but not quite as complicated as a Lucky 26 Bet, then a Canadian bet may be for you. A Canadian bet consists of five selections and 26 potential combinations.
How does it work?
Canadian bet is a type of betting strategy that's most often used in horse racing. This particular betting strategy involves making 26 different bets on five events. 10 doubles, 10 trebles, 5 four-folds and one five-fold. A Canadian bet allows you to combine various bets into a single large bet. To make the bet, you must have as many winning bets as you have in the parlay.
* To have any returns, you need at least two selections to win.
Why is a Canadian bet called a Canadian?
Canadian bet is a gambling option that’s similar to the lucky 31. It originated in Canada and was allegedly named after an American who won big on one of these bets on a Canadian harness race.
How to Calculate?
To know how to calculate it is a requirement for you to be knowledgeable about.
The total amount of money you intend to bet on an event is the amount you will win if you are correct. If the event has a payout of 100%, you will win double the amount of money you bet. At the same time, the odds of an event are the likelihood of a certain outcome occurring.
The odds of an event are calculated by taking the total amount of money bet on that event and dividing it by the total amount that could be won. The higher the odds, the higher the amount you need to risk. Conversely, the lower the odds, the lower the amount you need to risk. Your bankroll and your risk tolerance should determine the amount you risk.
Canadian bet on horse racing and sports
Just in case you have an interest in betting on horse racing and sports, we recommend you start with small bets in order for you to get a feel for the betting process and the sports that you intend to bet on.
Example
For instance, if you’re betting on Horse A to win the race, you would make an additional bet that Horse A will win with a specific result. The most common example is a “to win” bet where you need to predict the winning team, but you must also predict their margin of victory.
For this reason, Canadian bets are also known as “over/under” bets. The over/under section is where you set the numbers for your bet.
Pros
Cons
Conclusion
Canadian betting is easy and flexible, making it a popular betting method for many bettors. You can bet on anything, from sports to horse racing, and you can get paid for your winning bets. What’s more, you can bet with any number of different sportsbooks, making Canadian betting one of the most flexible and accessible betting options available.