Betting on the Toronto Raptors

Canada legalized single-game sports betting in August 2021, a move that now allows each province to handle sports gambling as it sees fit. Ontario, the provincial home of Toronto, will take the opportunity to allow its residents to partake in single-game betting. The provinces have already allowed parlay betting, in which a bettor combines multiple bets on one ticket. However, single-game betting means bettors can learn about game odds and place a wager on a single sporting event.

Coming soon, Ontario residents will be able to bet on the Toronto Raptors. As a result, it’s best that you understand the ins and outs of NBA odds and how to bet on the NBA in Canada. And of course, you want to be prepared for the best time of the year, when you take the NBA Finals odds and decide on how to bet on the series. If you aren’t sure what all of these NBA odds mean, you have come to the right place.

Raptors’ NBA Finals Odds At The Best Sportsbooks

SportsbookOdds
FanDuel+13000
BetMGM+15000
DraftKings+20000
Caesars+15000

Where Can You Bet On Toronto Raptors?

As of January 2022, Toronto residents are limited to online sports betting.

While more competition is expected to hit the market, PROLINE+ is currently the only mobile sportsbook available to Toronto residents. The expectation is that outside competition won’t join the landscape until 2022, so PROLINE+ has a chance to enjoy its head start.

As far as brick-and-mortar sportsbooks, Toronto residents aren’t in luck yet. The closest option is Casino Niagara in Niagara Falls, about a 90-minute drive from the city.

If the states in the US that have recently legalized and launched online sports betting serve as an example, Toronto may soon see more sportsbook apps launch. It wouldn’t be a surprise if plans to build a casino/sportsbook emerge either.

How Are NBA Betting Odds Calculated?

Among the most popular odds to bet are referred to as “moneyline” odds, in which the number is accompanied by a minus (-) sign to indicate the favorite or a plus (+) sign to indicate the underdog.

For instance, in a game in which the Toronto Raptors are favored to win, their moneyline odds may be -120. In this case, a bettor will be required to put up $120 for the chance to net $100 in the event of a Raptors’ victory. 

If the Raptors are the underdog in a particular matchup, their odds may be +120. In this scenario, a bettor would put up $100 for the opportunity to net $120 for a Raptors’ victory. 

Sportsbooks set the opening lines, relying on a variety of factors to arrive at a particular number. Most commonly, odds are adjusted in relation to the money being bet on a particular side so the books can balance their risk. However, there are instances — such as an injury to a prominent player — where a significant line movement is warranted.

What Kinds Of Bets Can Be Placed On The Toronto Raptors?

Toronto Raptors fans can gamble on a number of different types of single-game bets.

Totals (aka “Over/Under”)

A bettor can wager on the total score of a game finishing over or under the set number. If a particular game has an over/under of 210.5, a fan betting on the over will want to see the two teams combine for at least 211 points.

Point Spread

A point spread bet takes a moneyline wager a step further. It requires a team to “cover” a set line. For example, if the Raptors’ line is set at -2.5, it would need to win its game by a margin greater than 2.5 points. In reality, that means they need to win by 3 in order to cover the 2.5-point spread. Conversely, if the Raptors are underdogs at +2.5, they’ll need to lose by no more than 2 points in order to cover.

A 105-102 victory at -2.5 covers the spread. A 105-103 victory does not. 

Losing 105-103 at +2.5 covers the spread. Losing 105-102 does not.

Parlay Bets

Up until the legalization of single-game bets, parlay wagers were the only way for Toronto bettors to get in on the action. In a parlay, a bettor will choose multiple bets for one ticket and each will need to hit in order for the parlay to pay off. The potential winnings from a parlay are greater because the risk increases as more bets are added to the ticket.

What Is An NBA Futures Bet?

Different from an individual game, a futures bet commonly focuses on the odds of a team winning a championship, such as listing the Raptors’ NBA Finals odds at +13000 at FanDuel and +20000 at DraftKings. Futures odds are set following the conclusion of the previous season. These odds will fluctuate throughout the offseason and season based on a number of factors. A string of injuries or a key player acquisition can lead to a shift in these odds.

How To Place Prop Bets On The Raptors

A prop bet is a wager placed on the occurrence of a particular event that doesn’t necessarily affect the outcome of a game. It can be tied to an individual player, such as an over/under on the points or assists a player will total, or it can be team-focused, including factoring in which team will score first. There is a wide variety of prop bets from which bettors can choose.

A good place to start for player props is each individual sportsbook app. Individual game prop offerings are generally more plentiful during bigger and one-off events, such as the All-Star Game.

How To Bet On The Raptors In Toronto

PROLINE+ is currently the only mobile sportsbook in the Toronto market, but more will be expected to launch in the coming months, perhaps as soon as 2022. Some of the biggest players in the industry, such as FanDuel, DraftKings, and BetMGM, could be among those launching in Canada.

Many of the sportsbook apps that figure to hit the market are available for both iOS and Android users and can be downloaded at their respective app stores.

No matter the book you use, many of the steps will be the same. You must register by providing pertinent identifying information. This information is used to not only verify your identity but to ensure that you are eligible to bet.

After someone is registered, money needs to be deposited into his or her account. Most books offer a variety of deposit methods, including PayPal, online bank transfer, and other electronic transfers. It’s always important to familiarize yourself with the fine print. While many books share similarities, they’re not facsimiles of one another.

Once the administrative work is complete, it’s time to browse the app for your desired bet and place a wager.

How To Bet On The NBA Finals In Toronto

Futures bets allow bettors to wager on who will win a sports championship, the NBA Finals in this case.

However, betting on the NBA Finals won’t be limited to futures wagers. Once the playoffs begin, bettors can wager on individual games and series throughout the postseason. 

Toronto Raptors Casino/Sportsbook Partnerships

The Toronto Raptors do not have a partnership with a casino or sportsbook. However, the NBA agreed to a deal naming MGM Resorts the league’s official betting partner.

The league’s entrance into this space and the recent legalization of mobile sports gambling in Toronto set the stage for the Raptors to eventually strike their own deal with a betting partner.

Toronto Sports Betting FAQs

Will Toronto’s legal sportsbooks offer bets on the Toronto Raptors?

Yes. While PROLINE+ is currently the only online sportsbook operating in Toronto, the expectation is that a number of additional brands will hit the market in the relatively near future and allow betting on the Raptors. 

What is the closest sportsbook to Scotiabank Arena?

There aren’t currently any brick-and-mortar — or retail — sportsbooks in Toronto. The closest book for bettors to visit is Casino Niagara in Niagara Falls. The trip is about a 90-minute drive from Toronto.

Do the Toronto Raptors have any partnerships with a sportsbook?

No. The Toronto Raptors do not currently have a partnership with a sportsbook. The NBA forged a league-wide partnership with MGM Resorts.

Is DraftKings legal in Toronto?

Yes. Online sports betting has gone live in Toronto, but the DraftKings Sportsbook hasn’t launched in the province of Ontario yet. The expectation is it will be among the brands that emerge in 2022.

Is FanDuel legal in Toronto?

Yes. However, like its counterpart and top competitor, FanDuel Sportsbook is not currently available in the province of Ontario. It is among the brands expected to launch in 2022.

Does DraftKings offer odds on the Toronto Raptors?

Yes. DraftKings Sportsbook — and other online books — will offer odds on the Raptors.

About the Author

Craig Williams

Craig Williams is a Charlotte-based sportswriter who has worked professionally in the gaming, fantasy, and sports business industries. He’s an avid fantasy football player, managing over 100 leagues across multiple formats. When he’s not pouring over Vegas odds and statistics, he’s indulging in soccer and enjoys anything from LigaMX to Champions League.