There is good news for Canadian sports betting fans, as the country follows in the footsteps of its American neighbours to decriminalise sports betting in the country. The Canadian Gaming Association estimates that the unregulated Internet gambling market currently generates around C$1bn in revenues annually, and the Liberal Government has realised that with the right legislation, a percentage of this could end up in government coffers, rather than in the hands of unlicensed and unregulated businesses. 

Currently the criminal code only allows for parlay betting – also known as accumulator or combo betting but the regulations would widen the types of betting allowed in the country. As a result of these new regulations, you will be able to check more casino sites and place bets on your favourite sporting events without falling foul of the law. 

Understanding the New Regulations 

A Private Members’ Bill to allow single sports betting was given a second reading by the House of Commons this month. This is largely being driven by the compelling economic reasons detailed above, despite the opposition of ant-gambling campaigners in the country. 

The fact is, despite the legality of the practice, sports betting is incredibly popular in Canada. But because the lack of legislation surrounding it has driven it underground, and without the government or the taxpayer collecting any of the excise duty they would be entitled to, it is both harmful for the public purse and less safe for players and consumers than it is in countries where appropriate legislation has been introduced. 

Canadian Gambling in Numbers 

The Canadian Gambling Association (CGA) has calculated that the size of the unregulated gambling industry in 2019 in the country was CAD $14 billion. Of this, CAD $ 4 billion was spent on offshore sports’ betting sites, and a further CAD $10 billion spent by Canadians on illegal bookmaking operations. This is a huge figure, particularly when compared to the CAD $500 million that was spent on legal Provincial sports betting in the country. 

The Canadian government has confirmed that once the Bill is passed, the significant sums that it would raise in taxes would be reinvested into local Canadian communities. Schemes to benefit sports, cultural and recreational activities would take priority, and the sum would also be used to fund addiction programmes, where they are already needed. 

In Conclusion 

Bringing the Canadian gambling industry up from the underground and out into the open can only be good news for everyone involved in it. This includes, but is not limited to, the players, operators and regulators that are actively involved in the industry on a regular basis. It is also good news for the government and the wider public, who will ultimately benefit financially from the regulation of an industry that has the potential to generate significant income for the country.

 In short, there are very few negative elements involved in this decision: now we can only sit and wait to see what the future of gambling in Canada brings.