CFL Grey Cup Betting - A Gambling Guide to Canada’s Big Game

Every year, millions of viewers across Canada tune in to find the answer to an important question: who will win the Grey Cup? Naturally, this is an event that attracts a ton of betting action. Bettors log into their favorite sports betting sites to scope out the CFL Grey Cup odds and use sports betting bonuses to gain an edge.

There’s plenty to learn about Grey Cup betting, and we’re here to help with an in-depth look at Grey Cup odds and much more. 

The Grey Cup is where the final two teams remaining in the CFL playoffs face off. While there are Grey Cup favorites before the season begins, the Grey Cup is the sixty-minute game where the result is settled, and a final victor emerges.

In this guide, we’re going to explore how Grey Cup betting works. We’re going to look at Grey Cup betting odds, the top bookmakers, the current Grey Cup favorites, and more. By the time we’re done, you’ll know everything you need to wager on Canada’s big game.

As the season has yet to begin, there is still a lot that can happen. However, bettors are already starting to look ahead to this year’s Grey Cup.

With only nine teams in the league, who can win is anyone’s guess. However, there are teams with the ingredients currently in place that bettors believe can lead to a Grey Cup victory. 

Let’s look at the teams that operators have declared the Grey Cup favorites before the season begins, with the highest Grey Cup odds.  

• Toronto Argonauts: The Toronto Argonauts have won two of the last three Grey Cups and sportsbooks have them pegged them as the team to beat once again. Led by quarterback Chad Kelly and stars on defence like Wynton McManis, this is a dangerous team that is once again capable of running the table. They also have a strong run game led by Ka’Deem Carey. There is no reason to doubt this squad, who have shown themselves as dangerous when it matters most. 
• Montreal Alouettes: The Montreal Alouettes followed up their Grey Cup victory in 2023 with a great 2024 season, although they did fall short of a Grey Cup appearance. Still, the sportsbooks all give them very strong Grey Cup odds. The Alouettes will be starting Davis Alexander this year at quarterback, and he has been anointed the future of the franchise. He’ll benefit from also having one of the best defences in the league backing him up.  
• Winnipeg Blue Bombers: The Winnipeg Blue Bombers have been on a tremendous run of success over the last few years. They have played in all five of the previous Grey Cups, winning two of them. They are led by what many consider the best quarterback in the league, Zach Collaros, and what many consider the best running back in the league, Brady Oliveira. Their defence was also lights out last season. After such an extended run of success, the sportsbooks all list the Bombers amongst the Grey Cup favorites. 
• BC Lions: The BC Lions had something of a difficult regular season last year, but they are positively stacked, and many sports betting sites seem to believe they are a real threat to win it all this year. Nathan Rourke is back at quarterback, and he is one of the top players in the game. Justin McInnis led the league in receiving yards last year, and is a dominant superstar. If their defence remains strong, watch out!
• Saskatchewan Roughriders: The Roughriders have not won the Grey Cup since 2013, but many sports betting sites have listed them as a very real threat to make a splash this year. They have a team that features several potential quality quarterbacks, running backs who can pound the ball, and a ferocious defence. This team made it all the way to the West Finals last season before losing to their hated rivals in Winnipeg. Expect them to come out for this year ready to perform.

Recent Grey Cup Winners

Whether you are betting in Ontario, wagering in Manitoba, Quebec or any other province, chances are you might want to wager on the Grey Cup when it rolls around. But there is much to learn before you can begin your CFL betting journey.

At BettingTop10, we are not just about sportsbook reviews. We also are gambling experts, and we want to give you the tools you need to successfully bet on the major sporting events you love.

Below, we’re going to explore the rudimentary aspects of CFL Grey Cup betting, including how the CFL works, getting an account up and running, and the different markets, betting types, and odds you need to know.

How the CFL Works

For bettors who love NFL betting and think the CFL functions the exact same, this is not the case. There are crucial differences between the CFL and NFL, and everything from the CFL’s schedule to the rules of the game are different.

The CFL season will typically begin in the summer, around June, and run until Fall, typically late October. The playoffs will be held, and the Grey Cup is normally played in November.

The Canadian Football League consists of nine teams split into two divisions, the East and the West. The East has four teams, while the West has five. Each team in the regular season will play 18 games across 21 weeks. Every team will play all the other teams in the league twice and face off against two other teams in their division once more.

For the playoffs, the top team in each division will proceed to the semi-final. The second-place team in each division will host the third-place team unless the fourth-place team in one division has a better record than the third-place team in the other division, in which case they'll make the playoff instead.

The winner of each game will proceed to the semi-final to face the first-place team in their division. The winner of each division will then make the Grey Cup and compete for a shot at the historic trophy.

Creating an Account

You’ll need to create an account to begin your Grey Cup betting experience. Below, we’ll provide a quick guide to getting an account up and running.

• Step One: Find a Sportsbook. Browse the numerous options available online to find one that suits you. Make sure you are using one of the safe betting sites that offer secure, legal betting.
• Step Two: Register Online. Next, you’ll need to create an account. This is a different process depending on where you are. Typically, bettors need to enter their personal and contact details and verify them.
• Step Three: Deposit. The next step is filling your account. Bettors need to choose a deposit method and enter their details.
• Step Four: Start Betting! Once you’ve deposited, you can begin your CFL Grey Cup betting journey.

Markets, betting types, and odds

Before you can start betting on CFL odds to win the Grey Cup, you're going to need to understand what odds are and what exactly you're betting on. 

Odds are the lines that bookmakers create to indicate the probability of an outcome and show bettors how much they will make by wagering on it. The most common odds type in Canada is American. 

American odds show bettors how much they'd need to bet to make a $100 profit if it's a -, or how much profit they'd get on a $100 bet if it's a +. For example, if something is -300, a $300 bet makes a $100 profit. If something is +300, a $100 bet makes a $300 profit.

The next thing to know is the markets and types of bets. Markets are the outcomes bettors are wagering on to happen or not happen. Types of bets are the different ways of betting a sportsbook supports.

Let’s look at some of the most popular CFL markets and betting types.

• Moneyline: A Moneyline bet is a bet on the direct outcome of a game. If you bet the Argonauts on the Moneyline, you’ve picked them to win.
• Point Spread: The Point Spread is the projected score differential in favor of a team. If the Alouettes are -7.5, they are favored to win by 7.5 points. Bettors can bet for the spread, meaning the Alouettes win by more than that differential, or against the spread, meaning the Alouettes will lose or win by less than that differential.
• Total: The Total is a line that represents the projected total amount of points scored. Bettors can bet the over, meaning the teams combine for more points, or the under, meaning they combine for less.
• Future: A Future is a long-term bet in a league. It can be a bet on who will win Grey Cup MVP or a wager on the Grey Cup betting odds before the season begins.
• Game Props: Game props are outcomes within a game that don’t necessarily dictate the final score. It can be something like which team scores first, the method of the first points of the game, or which team leads after the first quarter.
• Player Props: Player Props are like game props, except they’re based on player performance. Bettors can wager on how many touchdowns Bo Levi Mitchel will throw or how many rushing yards William Stanback will have.
• Live Betting: Live betting sites allow users to wager on games as they happen live, with the odds updating as the game changes.
• Parlays: Parlays are when bettors tie multiple bets into a single bet. Each part of the parlay needs to hit for it to cash.

The CFL Grey Cup is still far on the horizon, but bettors can't resist trying to get started early. This is a massive sporting event that Canadians can't help but look ahead to, and most sportsbooks will already have their CFL Grey Cup odds locked and loaded.

Before you start laying down some heavy bets, it is time to formulate a strategy. At BettingTop10, we believe strategic betting is the key to ensuring a profitable and enjoyable gambling experience. Below, we’ll provide some advice to ensure you have the most effective CFL Grey Cup betting strategy possible.

• Shop for Odds: There are countless old and new betting sites that are available for gamblers to use. Each has different odds available. If you want to create the most favorable outcome, find the sportsbook with the best possible odds on the line you want to bet.
• Preseason Grey Cup Futures Can Have Massive Payouts: A great time to start CFL Grey Cup betting is right now. Wagering on the Grey Cup before the season gives you access to great odds for many teams, as there is so much uncertainty. Preseason future bets tend to have excellent payouts.
• Do Your Research: The most important component of a successful betting strategy is research. Get to know which teams are performing well, their strengths and weaknesses, the injuries they are dealing with, and more. The more you know, the more likely your bets are to hit.
• Props Can Enhance the Big Game: The Grey Cup is a massive spectacle, so don't be afraid to have several wagers on the big game. Prop bets on player or team performances can make the big game much more fun and fill your pockets.
• Don’t Expect a Repeat Performance: Repeats are very rare in the CFL. If you are looking to wager on this season, betting on the reigning champion Argonauts might not be the best decision.
• CFL is Full of Shocking Outcomes: The CFL is a sport where upsets and crazy championship runs are all too common. The playoffs are short, there are fewer teams, and anything can happen. Don't just take the chalk outcome with your bets because that is not how the sport works.

CFL Grey Cup trends

Let’s look at some of the most significant trends that have shaped CFL Grey Cup betting in the past few years.

• Only one team has repeated as Grey Cup champion since 2012.
• The Underdog has won eight of the last ten Grey Cups.
• The Under has hit at six of the last ten Grey Cups.
• Every CFL team except the Tiger-Cats has won a Grey Cup since 1999.
• The Toronto Argonauts have won the most Grey Cups in history, with 18 since it was introduced in 1909.
• The Winnipeg Blue Bombers have made the past five Grey Cups.

The CFL is a beloved sport for a lot of Canadians, but there are those that are still not overly familiar with the game or might just have some lingering questions about betting on the sport. If that's the case, we're here to help with answers to some of the most frequently asked questions about CFL Grey Cup betting.