Local gaming groups and operators are optimistic about the potential benefits to Canada and Ontario should the bill to legalize single-event sports betting in the country pass.
Since sports betting is already a daily part of the lives of sports-loving Canadians, bringing the sector into the regulated sphere of Canadian markets is the last frontier to ensure revenue for local communities in the form of taxation and a safe and secure environment for local bettors keen on putting money on all their favorite sports, as stated by Canadian Gaming Association (CGA) President and CEO Paul Burns.
Burns argues that North America, and the province of Ontario in particular because to its size and population, is a market with great and immense potential. More than 14.5 million people call Ontario, Canada’s fifth largest province or territory, home, and the vast majority of them are sports fans. Ontario, which is larger than both Pennsylvania and Michigan state and has more inhabitants than the pioneer sports betting regulator New Jersey, has great potential for a thriving locally controlled and permitted sports betting market.
The Helping Hands Are Here
Several well-known operators and service providers are present and eager to serve the local sports betting and gaming market. Other similar sites are the Online Lottery and Gaming Commission (OLG), DraftKings, FanDuel, theScore Bet, and PointsBets.
The future is ripe with potential for sports bettors, with the NFL, MLB, NBA, NHL (hockey), golf, cricket, soccer, tennis, curling, and more on the horizon.
According to Burns, Canadians will place the most wagers on hockey. Hockey enthusiasts have a lot to gain from the legalization of single-event sports betting in their country, since locals have a lot of interest in and knowledge of the sport.
Making Sure Everyone Has A Fair Chance
The primary goal of Canadian municipal legislation is to divert gamblers away from overseas, sometimes unlicensed, illegal markets.
Local licensing and regulation will bring “home” the estimated $14 billion that Canadians currently spend yearly with offshore sports betting companies.
Once Canadian sports betting companies are authorized to supply local bettors with betting goods, residents of the country will have access to regulated services that are safe, fair, and secure. The result will be timely payments and secure networks.