Betting on sports in Canada could now be legal thanks to a recent vote on a bill before the House of Parliament. This bill, C-13, was introduced by Justice Minister David Lamenti on November 26th and would change the current laws surrounded sports betting in the country. But, there’s even more happening in Canada on this topic.
Expanded sports betting in Canada is the talk of the sports betting industry right now, and for good reason. First, there are two separate pieces of news that apply to this, and that will help pave a path to a regulated market for Canada. Let’s take a look at the hottest news happening in the Canadian sports betting scene.
First, Ontario has revealed plans to end its lottery-run monopoly on online gambling. This would mean private operators will be allowed in the market. And then, just days after this huge announcement was made, the Canadian government announces plans to also end the federal ban on single-game sports betting.
This is huge for the industry, as it means the future market can now include sports betting and also iGaming. In the past, this would have been illegal in Canada. The Ontario market potential is huge! It would be bigger than mature markets like New Jersey and Pennsylvania, because the population of Ontario is large enough to make it the 5th largest, if it was located in the US.
This could equate to millions of dollars for the industry, and if you’re an individual into sports betting, it’s more room for you to play and win as well. More market liberalization is great for the at-home players, because it means you can legally partake in betting on your favorite sports and e-sports. It also means you will have more options since it opens the markets to private operators.
The last change to Canadian gaming laws was in 1985, so many believe it was beyond time to update the law. The main push has been in regards to single-game sports betting. The push to legalize it has been happening several times in recent years, but there was resistance, the same as there was in New Jersey when those who were opposed sued the Garden State to try to halt legalization efforts.
We will definitely see some well-known firms applying to operate in Ontario, and likely some new operators as well. And, the federal guidelines could mean more providences adopt their own rules as well, opening the market more on the federal level.
Word in the industry is that sports betting could be available in Canada legally as soon as the 2021 NFL season. What a great way to ring in the New Year! For more valuable betting information, you can check this link.
