With the seemingly imminent passing of a bill to legalise singe-event sports betting in Canada, local gaming bodies and operators are thrilled at the possibilities for the country and more specifically, the province of Ontario.
The Canadian Gaming Association (CGA) President and CEO Paul Burns stated that as sports betting is already common practice for many Canadians and that regulating the sector in Canadian markets is the last step in securing revenue for local communities via taxation and a secure environment where local enthusiasts can safely bet their money on their favourite sport.
In Burns’ opinion, North America is a highly lucrative market with Ontario’s geographic and population dynamic offering massive potential. Ontario is the fifth largest Canadian jurisdiction and home to over 14.5 million people, the majority of whom appear to have a profound interest in sports. The province is larger than both Pennsylvania as well as Michigan state and boasts a larger population than New Jersey. Ontario’s industry is brimming with potential that will be harnessed by it being managed and licensed.
Champing at the bit
A few big-name operators and service providers have expressed that they are ready to ply their trade in the regulated sector. These include the OLG, DraftKings, FanDuel, theScore Bet, and PointsBets.
Sports bettors’ can look forward to a wide selection of premium betting opportunities, including the NFL, MLB, and NBA, the NHL (hockey), golf, cricket, soccer, tennis, and curling to name but a few.
Hockey is most likely to be the most popular with Canadian bettors according to Burns. Ice hockey is highly popular in the country, with many fans having in-depth knowledge and insight into the sport.
The new local regulation aimed at diverting Canadian bettors away from offshore and in many cases, black-market and unlicensed operators. Currently, Canadians spend an estimated $14 billion every year with off-shore sports betting providers and the legislation aims to keep that money within the borders of the country.
As soon as local sports betting providers are licensed to provide local bettors with betting products, Canadians will have access to safe and secure local services that are governed by proper regulation. Local bettors can look forward to speedy payouts and state-of-the-art digital security and encryption.