OnlineGambling.ca Reports Huge Step Forward for Sports Betting in Canada
Sunday, 18 July 2021 08:00.AM
- OnlineGambling.ca looks at the implications of Bill C-218 becoming law for legal sports betting in Canada.-
Sports bettors in Canada can look forward to betting legally on single events after the passage of Bill C-218 by the Canadian Senate in June 2021.
Once Royal Assent is granted, sportsbook operators will be allowed to apply for licenses. A new generation of online sports betting in Canada should be under way by the end of 2021.
"This is a major milestone and achievement for the Canadian gaming industry," said Paul Burns, President of the Canadian Gaming Association.
How Bill C-218 will Impact Sports Betting in Canada
The passage of Bill C-218 brings Canada into line with the way online sportsbooks operate in most territories where sports betting is legal.
Until now, the only way bettors could enjoy legalized sports betting in Canada was through parlay betting offered by provincial lotteries. A parlay, or accumulator, is a bet on two or more outcomes. All your selections must win for you to receive a payout.
If people wanted to enjoy the option of single-game wagering, they had to use one of the offshore sports betting sites offering services to Canadians. Such as the ones we've listed above.
While this was an entirely legal activity for those who wanted to take part in sports betting in Canada, there was an element of risk. Such sites were unregulated, meaning bettors had no legal recourse if they became involved in a dispute with the sportsbook.
That's why Bill C-218 represents such a significant shift for Canadian sports betting sites. Established international sportsbooks will now be able to work with provincial partners and obtain a license to operate on a territory-by-territory basis.
The benefits for each state will be considerable, since they will be able to charge sportsbooks for operating in their province.
Canadian legislators need only look to the USA for examples of the economic benefits of legalizing sports betting. Numerous states now see significant income streams from this source.
Recent estimates suggest Canadians wager more than C$14billion each year through offshore sports betting sites – about 37 times as much as the C$375million staked on lottery parlay offerings.
Canadian sports bettors will now have greater peace of mind. They will also enjoy a wider choice of bets they can place with the best sports betting sites in Canada that, once licensed, will be operating legally.
Upcoming Sporting Events
There are a number of offshore sites that currently cater to the Canadian audience, highlighted in our sports betting guide, for the following upcoming events:
2021
Jul-Aug: Summer Olympics and Paralympics
Sep 24-26: Golf: Ryder Cup
Oct: Baseball: World Series
2022
Jan-Feb: Soccer: Africa Cup of Nations
Feb 6: Football: Super Bowl
Feb 4-20: Winter Olympics
Jun: Basketball: NBA Finals
Jun: Hockey: Stanley Cup Finals
Jul: Athletics: World Championships
Oct: Baseball: World Series
Nov-Dec: Soccer: FIFA World Cup
SOURCE: OnlineGambling.ca