Betting on sports? Here’s why it’s a game-changer for fans | Canada Voices

In January, 2022, on a whim and a touch of peer pressure, Sam Jadavji placed a $25 bet during the third quarter of a Minnesota vs. New Orleans NBA game. He won $20.83. “I watch sports anyway,” he says, “so why not make some money while I’m at it?”

What started as a casual experiment has become a booming pastime for Canadians. With single-game sports betting now legal, fans like Jadavji are finding new ways to connect with their favourite teams, elevate the excitement and even turn a profit – if they play it smart.

Since the federal government legalized single-game sports betting in 2021, sports betting has grown into a multibillion-dollar industry in this country, while the fantasy sports market in North America is predicted to reach US$21.46-billion by 2028. But both practices have also become major drivers of engagement in Canadian sports culture.

Platforms like DraftKings and FanDuel have made it easier for fans to get involved, transforming their passion for sports into economic activity. Whether it’s football, hockey or basketball, fantasy leagues have exploded, contributing to an entirely new economic ecosystem within Canadian sports fandom.

For fans, “betting can make sports more fun,” says Dr. Michael Naraine, an associate professor of sport management at Brock University who focuses on digital marketing. Fan communities congregate on social media platforms like Reddit, X and Discord to discuss potential bets or their fantasy picks the way they might analyze stock market trades. In addition to using betting platforms like Bet365, FanDuel and DraftKings, Jadavji and his friends join a Discord call during games to discuss which bets to make, adding a new social dimension to watching sports.

Still, any form of gambling is financially risky and highly addictive, and research shows that most people will lose money on sports betting. Of course, with great risk can come great reward – but don’t bet on it. Jadavji, for one, has earned up to $15,000 betting on March Madness, but also been way down for extended periods without knowing when he’ll recoup his losses. “You could lose for three months and then make it all back in one month,” he says.

And while betting and fantasy leagues can deepen fans’ passion for their favourite team or sport, it can also ignite what Naraine calls “the irrationality of fan behaviour.” For example, Naraine says that he’d bet on the Maple Leafs to win the Stanley Cup, despite the team winning its last championship in 1967. Naraine says research shows that most people will lose money on sports betting. But from a fan engagement perspective, the appeal is twofold: “People want to make money because they think they’re smart about sports, and it’s entertaining,” says Naraine. Sports betting operators don’t (or can’t) promise to make you rich. Rather, Naraine says, they emphasize betting’s “hedonic utility,” meaning the pleasure outweighs the potential pain.

Johnny Avello, DraftKings’ race and sports director, notes that the expanding legality of sports betting allows more audiences to participate without travelling to Las Vegas. But it also means that Canadians are now exposed to sports they would never have been otherwise able to access.

Jadavji, for example, is a lifelong basketball fan who grew up rooting for the Toronto Raptors, his home team – but now he watches everything. “It’s definitely got me more in tune with every type of sport, because we’re watching all sports going on at all times,” he says. “So we could be watching tennis, soccer leagues, international hockey leagues. You learn so much about different teams – the cities, the players, the way they play.”

For fervent fans looking to get in on the sports betting game, Jadavji offers a word of advice: Be strategic. “Manage your money and your emotions,” he says. “Otherwise, profits can turn to losses really quick.” In other words, bet smart, not with your heart.

Gambling addiction is a serious issue that can harm your finances, relationships and well-being. If you or someone you know is struggling, don’t wait – help is available.