Betfair Canada Alternatives

Traditional sportsbooks remain the most common and popular throughout online betting, but some alternative forms of wagering have surfaced in recent years and one of them is the betting exchange - something that has been perfected by Betfair.

Betting exchanges have certain qualities - the most significant of which is that you have the option to 'back' or 'lay' a bet. While the 'lay' option doesn't exist on standard sportsbooks, some betting sites have so much variety and so many available bets, that you can back some outcomes 'not' to happen, which is similar to a 'lay'.

Below is a list of the best betting sites in Canada in general. The list takes into account the bonus offer, betting variety, gaming experience, and various other factors.

A betting exchange is an online platform that allows bettors to bet against one another, rather than against a bookmaker.

Exchanges are like a marketplace, where bettors can 'back' at a certain price or 'lay' at what is usually a slightly bigger price.

Because the odds are set by other bettors rather than a bookmaker, you often get better odds through an exchange platform than you would with a standard sportsbook, but it all depends on the liquidity.

Some exchange users may simply let their back or lay bets run, whereas others may trade in and out of their positions in an attempt to keep liability to a minimum and earn profit through small margins rather than big payouts.

Canada is not blessed with a large choice of betting exchanges, but this is something that we hope will change as a result of the passing of Bill C-218 which resulted in the legalisation of single-game sports wagering.

Now that single-game sports betting is legal in Canada, it is hoped that more betting exchanges will enter the market.

Betfair was previously open to Canadians, but in 2016, they ceased business in the Great White North.

Little explanation was given at the time, but there was a 'grey area' around the legality of betting in Canada back then, so it was an understandable decision.

With no alternatives as far as exchanges are concerned, bettors in Canada have to look at other options.

If you don't have access to a betting exchange - which is the case for most Canadians - then the truth is that you simply can't replicate the exact elements that make up a quality exchange such as Betfair.

But, that doesn't mean that there aren't similar options. If a betting site has the below qualities, you can perform similar actions to what you would on an exchange:

• Quality live betting
• Wide range of markets with both 'yes' and 'no' backable
• High payout rate (small margin taken by bookmaker)
• Cash out

One of the best betting sites for these factors is 22Bet, as they have so many available bets within each event.

Many of the markets with 'yes' or 'no' as options on 22Bet are also available in-play, meaning that you can add or remove some liability in-play and take advantage of the ever-changing odds.

Of course, you could also just cash out, which removes all liability and allows you to secure a profit or cut your losses.

Unibet is another operator with a great range of available bets, and, like 22Bet, they also offer a 'no' option for certain wagers.

On an exchange, you might 'lay' a soccer player to get booked if you want to back against him or her getting booked. But on Unibet, you can just back 'no' in the 'To get a Card' market, which really means the same thing as laying them to be carded on the exchange.

Through Unibet's in-play betting section, you can hedge out of some bets or use the cash out function.

Cash out is available before an event has even started, so if you change your mind or find better odds elsewhere, you can get your stake back without losing any money.

Unibet has a very high payout rate across the board. We believe their odds are up there with the very best, meaning you have a better chance to make a profit in the long run than you would on other sportsbooks.

Good odds are crucial when assessing a betting site, especially when offering alternatives to Betfair, whose exchange generally has the highest odds available.

Another recommendation as an alternative to Betfair is Bet365. In the UK, which is one of the most mature betting markets, those two are arguably 1a and 1b when it comes to the best and most popular betting sites.

Bet365 is the most comprehensive sportsbook on the planet, and Canadians are able to sign up and bet with them.

Not only does Bet365 boast a humungous range of markets, but it's also a classy site with a state-of-the-art app and an excellent live betting and live streaming catalog.

The Bet365 cash out function is perhaps the best of its kind. You can use it before or during an event, and there is also an option to edit your bet or partially cash out.