How Much Should I Wager on Each Bet on Average?


A survey of Ontario sports bettors indicates that the average bet is C$25 or less.

In a survey aimed at better understanding Ontarian sports bettors, respondents answered the question, “On average, what is the amount wagered on a single bet?" Here are the results:

A total of 322 Ontarians participated in a targeted survey conducted through Pollfish, which allowed us to specifically reach individuals who consider themselves sports bettors. Participants received multiple-choice options for the question. The surveys were conducted in May 2024 and September 2024.

For a deeper dive, let’s also examine the relationship between the average wager per bet and the respondents' yearly household income:

310 of 322 respondents provided information about their annual household income with Pollfish.

As illustrated in the graph above, the category "C$25 or below” represented the largest or an equal share of respondents when grouped by annual household income. Given that each person's financial circumstances vary, these findings can serve as a data point when shaping your strategy. Based on my research, it's common to allocate about 1-2% of your bankroll, which refers to the funds earmarked for betting. Additionally, various betting strategies can help determine the optimal wager amount, such as the Kelly Criterion. This method considers your estimated probability, the odds offered by the sportsbook, and your bankroll to suggest the best bet size—which may even lead to deciding against placing a bet altogether.

When planning your sports betting strategy, it’s important to establish wagering limits. Most sportsbook applications or websites offer this feature in their settings, typically found under responsible gaming or gambling. The setup is usually straightforward: choose your limit type, whether daily, weekly, monthly, or maximum single bet, and set your desired amount. Additionally, you should receive notifications as you near your specified limit(s).

*Shameless Plug Alert*

At Sportto, we aim to offer the most thorough sports betting solution available. This includes providing a wide range of bet management tools, which we like to think of as being your betting BFF. Whether you want to set wagering limits, use a trusted betting method to help decide how much to wager, or even set up your bets to automatically cash out if the odds shift favorably (to secure a profit) or unfavorably (to minimize a loss), all of this can be done directly through your Sportto account. 

Sportto is currently in development with plans to launch in Ontario sometime this fall. Our primary focus until the end of April is to gauge interest, so if you're interested, join us at Sportto! Signing up is free, takes seconds, and we won't spam you. Plus, during this "gauging" period, we're offering perks like Zero-Fee Betting—make a bet, cash out of any winnings, and access all our features at no cost if you refer a friend after signing up. Get five or more friends to achieve Hall of Fame status on the platform, giving you early access and allowing you to be the first to explore new features and products.

If you decide to bet, please do so responsibly. If you or someone you know has a gambling problem, please call the Ontario ConnexOntario Help Line at 1-866-531-2600 or find a gambling counsellor. 

Comments

Post a Comment

Popular Posts

Not Your Typical Sportsbook...What Would An Ideal Sportsbook for Bettors Look Like?

Image
"It is a sportsbook operator that isn’t actually a sportsbook!" For a sportsbook to provide the benefits listed below, it must operate differently than you might expect.  Because the best sportsbook operator for you is likely one that isn’t greatly affected by whether you win or lose! Traditional business models found in most sportsbooks often place you in competition with them as they strive to keep their edge when managing their books. This setup can make it hard to create a system that truly benefits the bettor since these operators need to stay profitable to keep providing betting odds.  But what if betting can be done better, and you, the bettor, are the one who benefits the most from it?   What does the ideal sportsbook operator for bettors look like?   It is a sportsbook operator that isn’t actually a sportsbook! If you take away the core aspect of managing the actual sportsbook as the main revenue driver, the only way an operator can earn money is by cre...
Read more

I Wish I Can More Effectively Bet On The Odds Changing Throughout A Game.

Image
"I didn’t want to waste time devising an effective hedging strategy. The brilliance of this feature is that it streamlined my decision-making into a single bet." Two key factors impacting the winnings received from a successful bet are the wager amount and the odds provided. Previously, we explored the typical wager amounts recommended based on a survey of Ontarians on this topic. In this post,  we will analyze the betting odds of an actual game to observe how they change throughout the match and discuss how this important aspect can be a valuable asset to the bettor.  Over the weekend, we saw the matchups for this year’s NFC and AFC championship games determined. In the NFC, the Washington Commanders will visit the Philadelphia Eagles, while in the AFC, the Buffalo Bills will take on the Chiefs in Kansas City. Although Saturday's games were entertaining and had their moments, Sunday’s games were competitive right down to the wire, with the visiting teams having opportuni...
Read more

Hurdles to Sports Betting for Newcomers.

Image
Forty percent of respondents cited the biggest hurdle to starting sports betting as having the knowledge to make an informed bet. As Ontario's sports betting industry grows, more individuals are making their first sports bets. If you are a newcomer or have ever wondered what the most challenging part of getting into it is for others, here’s some insight. 450 Ontarians were surveyed using platforms such as  SurveyMonkey and Pollfish . Both allow you to conduct targeted surveys for a fee. The respondents were given multiple-choice answers to this question. Responses were gathered in surveys conducted in February 2023, April 2023, May 2024, and September 2024.  As part of a survey to get to know Ontarian sports bettors better,  we found that 40% of sports bettors described having the knowledge to make an informed bet as the biggest hurdle to starting sports betting. This was followed by understanding how the odds are expressed (e.g., +150, 7-1, -400) at 32.8% and grasping s...
Read more