Sports betting has always relied on dynamic odds
Betting odds have never been set in stone. However, before online, data-driven sportsbooks, everything had to be worked out by human bookies. The odds of major sporting events used to be printed in the news media, alongside all the details concerning form. When a punter arrived at the bookies to make a bet, it would be unusual for the odds to have changed. If everyone got excited about a particular outcome, the odds might start to shorten or lengthen, but it was a relatively stable process – at least until shortly before the start.
At horse races, it could all get a bit frantic before the off. The trackside bookies could be seen frantically chalking up and rubbing out new odds, and before mobile phones and the internet, it was possible to find wildly differing odds from bookie to bookie. Changes came about (and come about) due to the flow of money in and changing circumstances around horse fitness and the condition of the track.
Evolution not revolution
What we see now, with the introduction of analytics-driven odds, is not a revolution in betting but an evolution. The only difference is that there are far more factors driving the calculation of the odds. It is also possible to bet on many more outcomes. Event betting used to be about the final outcome, and the restriction of parlay betting meant that a bettor had to win all the legs to be in with a chance.
The Canadian sports betting scene has changed considerably since 2021, when Bill C-218 saw a relaxation in sports betting laws and the ability to place bets on single events and games. The change swept away the requirements for parlays and bets on many outcomes. This all happened at a time when mobile gambling was becoming widely available, and now punters can bet on hundreds of individual in-play options that change dynamically throughout the match or race.
In-play betting popular as circumstances change
It is estimated that around 60 -90% of all betting has been happening during an event; however, because there is now so much information available, there are also betting spikes before the event. Unsurprisingly, AI is playing a big part. Millions of data points are crunched per second, allowing operators to change the odds in real-time as pre‑event betting accelerates. While it is faster and more dynamic, it is still based on the money flow and information models of the early days – just much more sophisticated and built on a larger data set.
Online casino betting less volatile
While sports betting has been revolutionised in Canada, it is still not the most popular form of gambling in the country. Looking specifically at the online sector in Ontario, residents are wagering far more on online casino betting than on sports events. One reason could be that online casino games offer fair and consistent return-to-player rates. While the house always wins (gambling is a business after all), there are not the same shifting odds during the play. While online slots and casino games are purely based on chance, the probability is controlled by Random Number Generators, not by shifting data patterns. No matter how many people play on a particular slot, the RTP (return to player) rate remains constant.
Studying form
Savvy Canadians are increasingly using online review sites like Online Casino Canada to check out where to find all the information they need to make informed choices. Rather than relying on dynamic odds and live events to create the excitement, online casino games are pre-programmed. While the outcomes are fully randomised, the probability distributions of the random number generators are programmable. This means that before playing, it is possible to choose a game that is more (or less) volatile and, by extension, the RTP.
By looking at an expert Jackpot City casino rating, players can make informed decisions. No one is suggesting that online casino gambling is anything other than luck and chance, but playing at recommended sites and following tips can make the experience more rewarding. In addition, online casinos offer incredibly enticing and generous bonuses which can really play out in the customer’s favour if they understand the terms and conditions. JackpotCity’s welcome bonus can get a player y $1,800 across their first four deposits, plus 10 daily spins for the chance to win $1,000,000. Of course, there is a caveat: an average wagering requirement of 35x stake.
At your fingertips when you want it
In a country that loves to have a wager, like Canada, it could be argued that it is not surprising that online and mobile casino gambling is so popular. While it is possible to find a continuous source of global sporting events to bet on, online casinos are available 24/7. There is no need to chase the entertainment or check in at a specific time; there is a continuous and abundant choice of games, no matter what time a player logs in. In this way, it is much more like PC or console gaming in that it is self-contained and not affected by outside influences. While outcomes might be unpredictable, a player can learn to navigate a game and get the most out of it.
Outwitting the machines
Sports betting is all about the unpredictable – the thrill is that anything can happen. While the AI and data analytics can model possibilities, the fact that sport is played by humans means that virtually anything can happen. An unexpected bird landing on the court during a Grand Slam tennis match can totally throw a player off their stride. Even the most highly trained athlete has been known to act unpredictably, too. While algorithms can run detailed analyses of possible outcomes, it is hard to take everything into account. Historically, that is what has made sports betting so much fun. As a punter, you felt as though you really had a chance to win.
Recent changes to the way odds are calculated can leave many bettors feeling they do not stand a chance of winning, as the maths is stacked against them. Ironically, casino betting, which is purely a game of chance, can feel fairer. While you are betting against a machine, it is not a machine that is constantly trying to outwit you! In the long run, it is all horses for courses, and online gamblers in Canada have the broadest possible choice of options. There is a game to suit every taste.
About Author
