With Bill C-218 passing in the Senate on June 22nd, single-game sports betting may soon be legal in Canada.
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What is Bill C-218?
Bill C-218 is a private member’s bill that will eliminate the current law which makes it illegal to bet on single sports games in Canada, with horse racing being the lone exception. Currently, the only legal form of sports betting in Canada is through bets placed on multiple games, also known as parlays, which means you have to bet on two or more games and all the outcomes chosen must be correct to win the bet. The bill was approved with a vote of 57-20 by the upper chamber, meaning that the last step will be to wait for royal assent. Once that occurs, the law will come into effect.
What does This Means for Sports Bettors and Sports Betting Sites?
With the bill passing, it is looking like the legalization of betting of single sports games will be coming shortly, and it is a matter of when rather than if. This means that sports bettors will be able to place bets on single-game sports like soccer matches, hockey games, tennis matches, football games, and baseball games.
Sports betting has become increasingly more common south of the border, wherein the United States, more and more states continue to legalize sports betting. In Canada, the idea has been shut down numerous times, but it looks like single-game sports betting has finally gained enough support and traction to justify its legalization.
Sports betting is a massive industry, and even though it has always been illegal to bet on single games in Canada, that has not stopped some people from finding illegal sportsbooks to take their bets. It is estimated that billions of dollars are waged illegally in Canada on sports, making it one of the biggest opportunities ever in the sports revenue business.
By changing this law, it will allow citizens to bet safely on the games and will also be a big boost for sports betting companies. Many big-name sports betting sites in the United States will make sure they get a jump on expanding to Canada in hopes of taking a large portion of the sports betting share.
What does This Means for Sports Leagues?
This law will not just be a game-changer for the betting sites themselves, but also sports leagues in Canada. Many leagues have already voiced their support for this new law, as a sponsorship deal with these large sports betting companies can greatly increase their revenues. Sports leagues like the NFL, NBA, and PGA already have massive sponsorships in place in the United States with sports betting companies. For example, the NFL has an exclusive deal with DraftKings, FanDuel, and Caesar’s Entertainment that makes them the official sports betting partners of the league. While in the NBA, eligible teams where sports betting is legal in the state have already begun partnering with sportsbooks, with teams like the Philadelphia 76ers, New York Knicks, and Detroit Pistons all having deals in place with FanDuel and DraftKings.
With this new law, teams like the Toronto Blue Jays and Toronto Raptors, and leagues like the CFL and OHL can benefit greatly and increase revenue streams with the ability to partner with legal sportsbooks. This will also greatly benefit the economy as a whole, as the billions of dollars that are currently illegally waged on the black market can be done legally, creating a large amount of taxable income.
Online Betting Sites
Most betting on sports occurs online nowadays, as it only takes a few seconds to place a bet on the computer or a cell phone. When betting on sports online, it is extremely important to know which websites are safe, legal, real, and will pay out the money if the bet cashes.
There are many sports betting sites to choose from in Canada currently that will take legal action on parlays that are allowed in the country. Each betting site is different, with some allowing the option to bet on more sports than others. Most betting sites offer the option to place bets on the NFL, NBA, NHL, and MLB, but if you are looking into betting on lesser-known betting sports like golf, tennis, and mixed martial arts, then more research is required.
BestBettingSites.com is a great tool to use when looking at betting sites in Canada. The website gives you a list of the most reputable sports betting sites and also mentions what sites offer the most sports and give the best bonus offers for those that create an account with the site.
