How does high stakes betting work?
High stakes betting has a two-fold meaning. Firstly, it refers to the amount of money staked on a particular bet. For example, if you place a $1 bet on the outcome of a game, that’s super low risk, because even if it loses, you’re not going to be particularly out of pocket. The same can be said for a $10 bet, and depending on your budget, maybe even a $50 bet. But high stakes bets can be in the hundreds or even thousands of dollars. The amount you can bet on a particular wager differs between the various different online sportsbooks, and in some cases each individual market too.
The second consideration for high stakes betting is the odds. If, for example, you place a bet at 1.5 odds, that’s a much lower stakes bet than one placed at odds of 10.0. The higher the stakes, the more you could get back if your selections win. Depending on the sportsbook, they might restrict the size of the bet you can place with bigger odds, and these restrictions might be for the individual rather than for everyone as a whole.
Best sports for high stakes betting
Whether you’re going to be
betting on soccer
or trying one of the most niche markets, I have no doubt that you’ll find high stakes betting available at most Canadian sportsbooks.
It’s a good idea to only ever place high stakes bets on sports you know quite a lot about. As sports betting isn’t quite as random as, for example, playing slot games, a little bit of knowledge can help improve your betting experience as a whole.. If you’re very into a particular sport like football, for example, you might be able to apply your knowledge to have a better chance of winning a high stakes bet. The same applies to smaller sports and more niche markets like esports.
A few popular sports that you should be able to apply your knowledge to include:
- Soccer
- American football
- Basketball
- Horse racing
- Golf
- E-sports
How to make your money go further for high stakes betting
There are lots of
sign up bonus betting sites in Canada
that sports fans can use, so it’s a good idea to check what the offer for new bettors is before you sign up. Most betting sites will give you either a deposit match or some free bets to use as a newbie, but if you’re planning on making a really big deposit the first time, you can check with the customer support team and see if it’s possible to get an enhanced offer.
A deposit match will really help make your money go further, as these offers can be really big, so you might potentially be able to boost your bankroll by 100% or even 200%. If you deposit a couple of hundred, you’ll definitely have what you need for some high stakes betting.
There are some risks to high stakes betting
Before you start placing high stakes bets, you need to understand that there are some serious risks, which you need to be willing to address. It’s very important to remember that even though high stakes betting can bag you a great win if you get lucky, you might also not pick the winning selections, and in that case you’ll lose whatever money you staked. When you’re placing small bets, it’s much easier to get your head around losing money, than if you’re betting big amounts.
Set your own limits
So that you never lose too much money, you should always set a budget that you’re comfortable with. In fact, never bet for an amount of money that you can’t afford to lose, or which could have an impact on important parts of your life, like your house or car payments.
It’s important to remember that if you feel stuck in a cycle of having to bet large amounts to try to win large amounts, you might begin to feel anxious or depressed, and you may need to reach out for help and support.
Most high stakes betting sites have a whole lot of responsible gambling tools and features that you can use if you feel the need. For example, you can visit the responsible gambling section to read more about features like personal limits on your deposits or losses per day, week, or month. This is an ideal way to make sure that you’re betting at a level that suits you, without getting carried away. It’s also possible to take a timeout during which you can’t log into your account or bet, and if you feel like you’re developing a problematic gambling habit, you can self-exclude to block access to your account entirely.
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High stakes online sports betting sites features
High stakes betting sites should have similar features to sites where you can place smaller wagers – in fact, in most cases they’re the same online sportsbooks, and your wager amount is totally your choice.
Cashout is key to high stakes betting
One major feature I always look out for at high stakes betting sites is cashout. This is a way that you can end a bet early and potentially get a bit of your money back, even if your selection ends up losing in the end. If you see that your high stakes bet has a big cashout value, you might want to get what you can back and walk away.
Placing high stakes in-play bets
Another excellent feature for high rollers is in-play betting, which is particularly popular at soccer and
NBA betting sites. This allows you to wager on events that are currently happening, so you can take advantage of the latest odds and make informed betting decisions, which is essential for big wagers.
A range of ways to deposit and withdraw
If you’re planning on making high stakes bets, you should also ensure that the betting site’s payment options suit you. For example, look for sites where you can use convenient methods like Interact, e-wallets, and crypto, so that if you have a big win, you won’t have to wait long to get your money.
These are some of the key deposit and withdrawal methods at Canadian high stakes betting sites:
| Method | Deposits? | Withdrawals? |
| Bank cards | Yes | Yes |
| Interac | Yes | Yes |
| E-wallets | Yes | Yes |
| Cryptocurrency | Yes | Yes |
| Prepaid cards | Yes | No |
High stakes betting pros & cons
- Chance to win large amounts
- Extra element of thrill
- Chance to apply strategies
- Chance to lose large amounts
Which casino games are best for high stakes betting?
So far, we’ve just spoken about high stakes betting on sports, but you can also bet for very high amounts on online casino games. Most online slots have a limit of about $100 at the very most, so they’re not an ideal option for high rollers. If you want to do some high stakes casino gambling, I’d recommend you try out table games.
Table games emulate the experience of being in a land-based casino, so the limits tend to be in the hundreds or even thousands of dollars, depending on the table where you’re playing. Live dealer blackjack tables in particular can come with high limits, and some online casinos even have “Salon Prive” tables, where you’ll get an exclusive experience with just the dealer and no other table mates.
High stakes betting: is it worth it?
There are lots of Canada high stakes betting websites out there, so if you do want to spend a lot of money, you won’t struggle to find a place that will accept your high wagers. But the real question is whether or not you should be betting at these levels in the first place. That’s a question only you can answer – it’s all about whether or not you feel comfortable with the risk that’s posed by betting at high levels. You need to make sure that you stick to a budget that you’re comfortable with, and most importantly understand all of the potential risks involved. Always keep your own bankroll in mind when placing high stakes bets and never wager more than you can reasonably afford to lose.
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High stakes betting frequently asked questions
?
What is high stakes betting?
High stakes betting is when you bet for big amounts of money, or wager on markets that have high odds, so that you can try to get a big win.
? What are the best high stakes betting sites for Canada?
The amount you can wager depends on the sport and the market, and some betting sites might even restrict you as an individual. However if you choose one of the sites on my list, you’ll be able to place some big bets.
?? Is high stakes betting legal?
As long as you’re betting within the rules outlined by your online sportsbook of choice, there’s nothing illegal about placing big wagers.
