OVER/UNDER: Betting in Toronto makes perfect sense
words by Myles Valentin
When you think of a professional gambler what’s the first thing that comes to mind? Most likely an Al Pacino type who smokes cigars, has connections to the mob and lives in Las Vegas. In fact, type “sports gambling” in a Google image search and you will be rewarded with scores of photos associated with Sin City.
However, if you were to actually take sports gambling seriously you’d be better off staying in Toronto than making the move to Nevada. Our city is an ideal stomping ground for successful bettors, most of who view sports betting as a legitimate investment, look for value and market inefficiencies, and approach an NFL or NHL game the same way a trader would analyze a technology stock. You are more likely to find these betting individuals having brunch at the Marché Brookfield than on the Las Vegas Strip, and here are some reasons why.
1. Access to Online Sportsbooks
Because of legal roadblocks and “other factors”, betting online in the United States is difficult. David Purdum, a journalist who has been covering the gaming industry for several years, says, “Being an online gambler in the U.S. isn’t easy, even in Las Vegas. More Vegas casinos are offering mobile sports betting apps and online poker options, but it’s still in the infant stages with plenty of hiccups.”
And why is access online betting important? Well, much like shoes, clothes and books, you’ll find a better price online. If you were at the MGM in Vegas and wanted to place a bet on the Ravens to cover the +8.5 spread (meaning you win, as long as the Ravens don’t lose by more than 8), you would have to risk $110 to win $100. Alternatively, if you were to bet online at Pinnacle (one of the most prominent online sportsbooks), you would only have to risk $106 to win $100. That $4 may not seem like a lot, but for those risking thousands over the course of an entire year, that little amount adds up.
2. Options
Online sportsbooks have more variety and options. Vegas sportsbooks cater to tourists and really only offer customers major sports leagues and sporting events. Online books offer almost every sporting event in the world, everything from 3rd Division Spanish soccer to that ITF tennis tournament in Waterloo. It might sound a bit crazy to mention these, but smaller sporting events tend to offer more betting value than major ones. Live betting is also limited in Las Vegas, which is key to a pro bettor’s repertoire.
3. Security of Funds
Many pro-Vegas people who fear online point to the ease of getting cash after a game is finished, as opposed to relying on a bi-weekly overseas bank transfer. The truth is, if you need cash immediately you really should not be betting on sports. Being a successful bettor is about how you do at the end of the season, not at the end of one game. Also, one has to consider the crime rate in Las Vegas compared to Toronto. As someone who has carried large sums of cash in Las Vegas, I truly had a legitimate fear of getting mugged each time I left the casino. In contrast, I feel relatively safe when biking home to my downtown condo. There’s a sense of security in knowing that online betting deposits the money directly into my bank account and that we live in a relatively safe city.
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