NBA Betting Online in Canada 2021

Posted by Veronica Taylor . Last updated:

Home to the beloved Toronto Raptors, the NBA is one of Canada’s most popular basketball leagues to watch, and bet on.

From hometown heroes like Drake hyping up the game, to winning championships, the NBA has continues to blossom in the Great North—Read our guide to basketball betting and learn everything you need to know before betting on NBA basketball. Our NBA betting guide covers:

  • The best NBA betting sites for Canadian players
  • Different basketball bet types
  • How to bet on NBA games, with proven strategies

Best NBA Betting Sites for Canadian Players

Our experts have compiled a list of the industry’s best NBA betting sites for basketball betting:

How NBA Odds Work

New NBA bettors should be able to pick up how odds work in no time. Here’s a real NBA matchup example and odds breakdown for the game.

Teams Point Spread Moneyline Point Total
Utah Jazz -4.5 -190 OVER 226.5
Brooklyn Nets +4.5 +165 UNDER 226.5

So, in this betting table, you’ll see the Jazz are 4.5-point FAVORITES, indicated by the minus prefix. On the flip side, the Nets are 4.5-point underdogs indicated by the plus prefix. If you were to bet on the Jazz to cover the spread, Utah would need to win by 5-or-more points, while a bet on the Nets would need to see Brooklyn lose by 4-or-fewer OR win outright.

The moneyline odds are easy to digest. At -190, a bet on the Jazz to win pays $100 for every $190 wagered should Utah beat the Nets outright. If you like the Nets to pull the upset, a $100 wager pays $165 in the case of a Brooklyn victory. Note: $165 is profit + you recoup your initial $100 bet.

Finally, the point total is self-explanatory. If you bet the OVER, you want the Jazz and Nets to combine for 227-or-more points. If you bet the UNDER, you want the Jazz and Nets to combine for 226-or-fewer points. It’s that easy.

Still not sure where to start? Finding some expert NBA betting picks is a great strategy.

How to Place an NBA Bet

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Select the game you want to bet on

First things first, you’ll need to choose the game you want to bet on. Since sportsbooks list multiple upcoming games at a time, make sure you select the right one before placing your bet.

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Decide which type of bet you want to make

As you’ll see below, there are several different kinds of NBA bets ranging from point spreads to moneyline bets. Different bets yield different outcomes, so read up on these before you decide.

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Choose your odds and fill out a bet slip

When you select your odds, a bet slip will usually auto-populate on your screen and you can enter your wager. If you don’t already have funds in your account, you’ll add them now. Then, you’re good to go!

NBA Basketball Betting Types

NBA Point Spread Bets

NBA Point Spread Bets

Wager on the winning margin

NBA point spread bets involve placing a wager on which team you think will win the game and the points margin by which they’ll win. Simply put, the ‘point spread’ is the number of points by which the favourite team is expected to win.

These point spreads are set by the sportsbook, and will likely vary slightly from site-to-site. Bookmakers use the point spread as a way of leveling out the chances of either team winning the game by providing an advantage or disadvantage based on the margin of victory or defeat for a given team. As such, you’ll see much more even odds in point spread betting than you will in moneyline betting.

For a bet on the favourite to pay out as a winner, that team must win the game, and do so by more than the amount by which they were favoured. This is known as “covering the spread”.

Here’s an example of a point spread bet in NBA online betting — the Lakers are the favourites, hosting the Warriors. The bookmaker expects the Lakers to win by 8 points or more. This would be styled as such:

  • LA Lakers (-8.5)
  • Golden State Warriors (+8.5)

The (-) signifies the game’s favourite, while the (+) signals the underdog. The (8.5) is the point spread; the amount by which bookmakers expect the Lakers to win.

In this example, if you were to wager on the Lakers spread, you would need them to win by more than 8.5 points (i.e. by 9 points or more) in order for your bet to pay out.

Conversely, a wager on the Warriors would pay out if the team either won the game outright, or lost by 8.5 points or less (i.e. by 8 points or less.)

If the Lakers won the game 110-108, the Warriors would “cover the spread” because even though they lost, they did so by fewer than 8.5 points.

NBA Moneyline Betting

NBA Moneyline Betting

Wager on the overall game winner

An NBA moneyline bet is a type of bet that provides betting odds focused on who will win the game, regardless of how many points. The more uneven the game, the larger the discrepancy in odds will be.

With NBA moneyline betting, a minus sign (-) in front of the odds indicates the favourite and the number listed shows how much money you must wager to win $100.

A positive sign (+) in front of the odds indicates the underdog and the number show how much money you will win for a $100 wager.

The more uneven the contest, the bigger the numbers you’ll see. It is rare, but sometimes if the matchup is too extreme or one-sided, a book will take the Moneyline option off the board.

NBA Moneyline Example

Here’s an example of a moneyline in NBA online betting — the LA Lakers have odds of -250 on the moneyline against the New York Knicks, while the Knicks are +200 against the Lakers. Again: the (-) signals the favourite, the (+) signals the underdog.

In this example, a $100 wager on the Lakers would pay a profit of $40 if they won, while a $100 wager on the Knicks would return a profit of $200 if they won. The bigger the risk, the bigger the reward.

For more on how to read odds, you can always check our guide to sports betting.

NBA Totals

NBA Totals

Wager on the total number of points scored in a game (by both teams)

The total in an NBA game is a wager on the final combined score of both teams. Like a point spread, this amount is determined by the bookmaker based on matchup, past performance, team averages, etc.

As a bettor, you must choose whether you think the score will be more (“over) than the set total, or less (the “under”).

Much like point spreads, when setting a total, bookmakers will often use fractional points (e.g. 199.5) to avoid a tie (or “push”) scenario, where the combined score is exactly the set total and the sportsbook must pay out all bets as ties.

NBA Point Total Example

The Lakers play the Knicks, and the total is set at 199.5. This type of wager would typically be listed as such:

Lakers v Knicks (Totals)

  • Over 199.5 (-110)
  • Under 199.5 (-110)

Again, the numbers in brackets signal the odds of each wager. In this instance, both wagers are set at -110, indicating an even bet.

The Lakers win with a final score of 110-100. This is a total combined score of 210 (110 + 100), which means the over would pay out (210 > 199.5).

NBA Live Betting

NBA Live Betting

Wager on a game that’s already in progress

In recent years, online sportsbooks have begun offering a wide selection of live sports betting, wherein you can bet on NBA games once they have begun.

Generally, multiple live bet types are available, with sportsbooks offering spreads, totals, & moneyline wagers for basketball betting, with odds that change along with the game.

NBA Live Betting Example

It’s halfway through the second quarter, and the Lakers are leading the Warriors 20-10. Leading up to the game, the oddsmakers had the Warriors as heavy favourites, meaning they were expected to win and were offering a low payout.

However, now that the Lakers are up by ten points, they have become the heavy favourite. With live betting, bettors can wager on the Warriors with live odds that will be adjusted to reflect a higher payout.

NBA Parlays

NBA Parlays

Combine 2 or more wagers to increase the potential payout

A parlay bet is a single wager placed on the outcome of multiple events. In a parlay, all connected bets must win in order for your wager to pay out. This is a great way to increase the odds – and a bettor’s potential payout – but beware that the risk is much higher when combining bets.

Depending on the sportsbook, basketball betting parlays can typically include multiple bet types, whether that’s moneyline, point spreads, over/unders, or more.

Note that there are typically requirements that prevent bettors from placing a parlay made up of similar bets – for example, a bettor would not be allowed to combine the Lakers spread and the Lakers moneyline.

NBA Parlay Example

The Lakers are playing the Knicks, and the Warriors are playing the Bulls. You place a parlay bet on the Lakers moneyline and the Warriors moneyline.

In this instance, your wager would pay out only if both the Lakers and the Warriors win their games. If they do, your payout would be your wager size, multiplied by the Lakers odds, multiplied by the Warriors odds.

If any event in your parlay loses, your entire wager loges.

NBA Futures

NBA Futures

Bet on the future outcome of an NBA event

Thanks to futures, NBA gurus can put their money where their mouths are with respect to their long-term predictions. NBA futures bets allow bettors to wager on basketball betting topics like who will win the Finals, who the MVP will be, and many more.

These types of wagers are generally open in the pre-season and throughout the year. As you’d expect, NBA online betting payout odds correspond with the likelihood of an event occurring.

NBA Futures Example

For example, it’s unlikely that Russell Westbrook is going to be this year’s MVP, so his payout odds on the NBA 2020 MVP futures bet would be quite high. Giannis Antetokounmpo, on the other hand, was having a strong 2020 campaign, and has a solid chance of winning this year’s MVP. His odds – and payout – would be much lower in basketball betting.

NBA Prop Bets

NBA Prop Bets

Wager on something other than the game score

Typically, in NBA online betting, a prop bet involves betting on the performance of an individual team (which team will score first?) or player (will LeBron have over or under 25.5 points?) in a game or season.

However, prop bets are exceedingly popular because they run the gamut from ‘normal’ bets to the truly bizarre.

Just about anything that can happen in or around an NBA game can be turned into a prop bet. Props are particularly popular during the Finals, when bettors can wager on things like the length of the pre-game national anthem, or the color of the gatorade that will be poured on the winning coach.

Note that prop availability varies widely by sport and by sportsbook, so we’d recommend doing your homework using our sportsbook reviews if you want to place these types of bets.

NBA Player Prop Bets

In basketball betting, the standard for NBA prop bets link to the performance of individual players in a given game: How many total points will LeBron have? Which player will have more rebounds? How many threes will Steph Curry hit?

NBA Team Prop Bets

Another popular way to bet props are NBA team props. These focus on team performance: how many total games will the Raptors win? Which team will score first? Which team will be the first to score 20 points?

NBA Draft Prop Bets

Again, props on the NBA draft are pretty straightforward. These props involve which NCAA and NBA G-league players will be selected to which team, the order of draft picks and even what players will wear, drink or say during the televised draft.

NBA Playoff and Championship Finals Prop Bets

Simply put, NBA playoff and championship props are placed during playoffs and finals, and typically focus on things like which team will win, what scores will be, and often includes other props like over/unders, (which team will have a higher or lower score), and moneylines on the entire championship.

NBA All-Star Weekend Prop Bets

Now, All-Star weekend props are where it gets really fun—These props range from the most prominent celebrity presence, to over/unders, winner and total scores from the All-Star weekend events like the skills challenge, three-point content, slam dunk content and the actual All-Star NBA game.

NBA Betting Odds

Recommended NBA Betting Strategies

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Shop Around to find the Best Odds

Try to find the best lines when possible. Some sportsbooks offer lines that deviate from the masses to differentiate themselves from the competition—Use this to your advantage. Check out sportsbook reviews to learn more, too.

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Don’t Shy Away from Favourites

Don’t be afraid to bet on the favourite. Unlike other professional sports, teams that are heavy favourites in the NBA almost always come through. You won’t always like the odds you’re offered, but if you like a matchup, you should consider laying some real money on it.

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Bet Against Tired Teams

Three games in four nights matters when it comes to NBA betting—When online betting on an NBA game, be sure to note the team’s schedule that week. The NBA schedule is grueling and teams playing three games in four nights are often at a major disadvantage no matter where they’re playing.

NBA Online Sports Betting FAQs

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