Sports betting in Canada has gained a lot of traction since it’s been legalized, and a lot has changed through its journey! In this article, we will be taking a close look at the online sports betting market in Canada and explore the developments that have taken place as well as the changes that we can anticipate taking place in the near future.
The Current Online Betting Situation In Canada
Things changed for Canada in August 2021, when Canadian legislators passed bill C-218 to modify the nation’s Criminal Code to enable legal single-game betting. Yet, this did not immediately result in the legalization of sports betting throughout the nation.
Instead, it empowered each of the Canadian provinces to develop their own sports betting rules, very similar to how the repeal of PASPA in the United States a couple of years earlier made it possible for states to do so.
A significant number of the provinces moved swiftly to respond, including single-game sports betting into their preexisting regulatory structures. Now, betting in Canada is as easy as watching shark tank.
On the other hand, in terms of new online sportsbooks coming, development has been rather modest – comparable to the boom that we’ve seen in states.
To this point, Ontario has shown the most enthusiasm; single-game sports betting ultimately became legal in the province in April 2022, and a number of overseas bookies are already up and running.
Others are now working on developing similar legislation for their respective jurisdictions.
In relation to Alberta and the Alberta sports betting legislation, the government has extended an invitation to private operators to compete for one of two spots that will allow them to provide a regulated commercial product to the Alberta online sports betting market.
This implies that hundreds of additional legal options for online casino and sports betting are now accessible in Alberta. This will provide Albertans who are at least 18 years old with a selection of new and exciting betting opportunities on their favored sports events.
This involves both a larger chance of winning the bet as well as a selection of other betting markets, including outrights, point spreads, and props.
How Things Have Changed For Canada
You may be wondering why we’re discussing “single game” betting in the context of legalized sports betting in Canada. The reason for this is that Canada has a long history of legally sanctioned betting, but it has always been conducted in the form of parlay betting.
Before the passing of Bill C-218, the betting regulations in Canada were a little murky, but since 1985, provincial lottery firms have been able to provide parlay betting, which involves combining the outcomes of many bets into a single outcome.
Offshore sites have also been growing in recent years, with billions of dollars pouring out of the nation to internet bookies based in other countries. These offshore sites officially operate outside of Canadian legislation and welcome Canadian sports bettors.
Because of Canada’s outdated legal system, it was impossible to stop gamblers from accessing these sites, therefore the activity was mostly disregarded by the government.
However, we should all be aware that utilizing offshore sportsbooks always comes with some kind of danger. If you use a service that is not subject to the same laws as you are, then there is, in essence, nothing preventing these books from doing anything they want with your money. If you use a service that is subject to the same laws as you, then there is.
Betting on sports that is both legal and regulated in a particular jurisdiction is a whole other can of worms from the perspective of safety.
When we speak about betting on a single game in this context, we are referring to ordinary sports betting as we all know it.
To summarise, we’re only at stage 1 in regards to sports betting in Canada, and the industry has a higher potential to reach.
What The Future Of Sports Betting Has In Store For Canadians
Because Canadian governments were not early adopters of online betting, they are still relatively far behind in contrast to other countries in which sports betting is legal. Though, hope is not lost!
There are a number of states that are working toward the acceptance of online sports betting, and if those states were to follow the lead of Alberta and Ontario, then the Canadian sports betting market is only going to see tremendous growth in the near future.
As the industry expands, there will be an increase in the number of online bookies accessible; thus, a whole slew of new features will be introduced to Canadian sports bettors. As a result of this growth, we can anticipate improved odds, an expanded selection of sports on which bets can be placed by Canadians, increasingly generous bonuses and promotions as a result of growing competition in the industry among online sports betting sites, and a great deal of other positive developments.