The Future Of Sports Betting In Canada

Canada: Lucky to Live There, Lucky to Be There

When it comes to some of the most beautiful and large countries in the world today, Canada may take the top spot. Because of its amazing locales, great vistas, and overall gorgeous atmosphere, Canada is not only an amazing place to live in, but it is also an amazing place to visit as a tourist. 

You should put Canada on your list of countries to visit because it possesses all of the qualities that a good tourist destination should have, including wonderful places to visit, stunning natural scenery, exciting nightlife, and of course, a strong connection to technology and all things related to it.

In the realm of technology, Canada is well-known for its technical innovation, the most notable of which is the concept of online pharmacy, to provide an example. In addition, Canada is well-known for its technological prowess. Another area where this has been utilized to its full potential has been the use of online casinos and online sportsbooks. 

Gambling and Sports betting software have both been huge parts of Canada’s history. Within this article, I will be going over the main notions of online casinos, as well as their possible future within the state of the great white north, Canada.

The Introduction of Online Casinos And Sportsbooks In Canada

When it comes to talking about the legality of Canada’s sports betting and online gambling markets, one must first look at their landscape and circumstances around their introduction into the world of online gambling. 

Due to Canadian governments’ tardiness to embrace internet gambling, the industry developed mostly unchecked from the outset. For the first time in 2004, numerous provinces and territories began allowing some type of regulated internet gambling activity, usually via provincial Crown companies or similar bodies. Not until this year, within the region of Ontario, has private enterprise been given the chance to compete fairly with such government agencies as regulated operators.

Legislation And Governmental Involvement

As a general rule, gambling and sports betting used to be illegal in Canada, and the only times when they had been sanctioned were when there are specific exceptions to this rule. Since several of the most important exclusions provide substantial rights and obligations to the provinces, it is envisaged that provincial governments would remain active in the business for the foreseeable future, barring any changes to such laws (which is unlikely in the short term). 

There are a number of factors that justify the government’s continuous engagement in the gambling business, including the necessity to safeguard vulnerable populations, the need of maintaining the legitimacy of the sector, and the potential for tax collection. The consequences of such participation, though, are still being worked out, but from what it seems so far, governmental participation within online casinos and online sports books seems like it will be a recurring theme.

The Safe And Regulated Sports Betting Act And The Future Of Online SportsBooks

One of the biggest changes which have been recorded regarding the online casino sector came in the form of a little piece of legislation known as the safe and regulated sports betting act. This act came from legislators looking to make more revenue regarding sports betting and gambling, and therefore in 2012, the measure breezed through the House of Commons, but after years of discussion, it was voted down by the Senate in 2015. Another effort in 2016 was defeated along partisan lines.

Still determined, lawmakers tried again in 2020 with Bill C-218, and this time they struck gold. The bill, formally titled The Safe and Regulated Sports Betting Act, was backed by all four of the major parties within the Canadian Political Sphere, and also managed to pass its revised version on the 17th of February 2021, with a landslide vote. This bill was a game changer for Canadian Players, iGaming hosts and providers, as well as affiliates from all around the sphere. 

The bill’s proponents had strong backing from the Canadian Football League, the NFL, and the NBA, and they encountered only mild opposition from the traditionally protective horse racing industry. Horse betting was permitted at the time, which may explain why some people were opposed to the bill: it may lead to further competition in an already competitive sector.

Looking at the prospective future of sports betting thanks to this bill, one can easily see how the government would want to involve itself within the sector of online sports betting due to the overall success this bill is bringing to provincial governments such as that of Ontario, which is profiting more and more off of the introduction of third party providers being able to ply their trade within the sector. 

A Few Final Thoughts 

When one keeps all of this information in mind, it is not hard to see that the future of online gambling and sports betting within the region of Canada is one that is one that is relatively bright due to the factors of governmental participation, as well as the revenue that it continues to bring with it even to this day. Especially if one notes that Ontario is offering players the opportunity to bet with third party operators now, it’s easy to see that the future for online sports betting is going to be a bright one.