More Online Betting Companies Launch in Canada

John Volter
by John Volter
More Online Betting Companies Launch in Canada
Published: 17/03/2023
Reading: 3 minutes

Until recently, Canadians were not able to place single-game sports bets. Fortunately, legalized sports betting can now be enjoyed in all provinces, and gamblers can use legitimate online sportsbooks to place these bets. Major sports betting outfits feature a variety of different sports bets that gamblers can place.

This article examines how online betting companies offering legal sports betting options are growing in Canada. It also covers the legality of single-game sports betting and why sports fans are excited about this option.

Canada Legalized Single-Game Sports Betting

In 2021, Canada announced that the nation would launch legal sports gambling services and the criminal code that allows single-sports bets was officially passed on August 27, 2021. Before this date, there were strict rules that opposed sports betting. Gamblers could only place parlay bets, which would include picks from 3 or more games. This meant that gamblers had to accurately predict all of their bets in order to win.

Parlay bets on multiple games weren't attracting enough Canadians to online sportsbooks. Therefore, many Canadians turned to illegal services that would allow them to place the types of bets they wanted.

Many deceptive companies operating in Canada offered single-game online sports betting on major sports leagues, and it was estimated that Canadians spent an average of $10 billion annually on these services. There was also a grey market temporary sports betting area that was collecting roughly $4 billion annually from Canadians as well. That lost money went to criminals, which didn't benefit the country.

The government made the decision to legalize single-game sports gambling because provincial governments would be able to control legalized gambling. By legalizing this form of sports betting, the government could set regulated rules to restrict sports gambling crime and ensure all legal betting services are being taxed. New tax revenue from casinos now contributes toward the growth of the Canadian economy, making it a national business.

Canada's Sports Betting Boom

Nearly two-thirds of Canadian adults gamble at least once per year. That's an outstanding 18.9 million people placing bets, a good portion of which go toward sporting events.

There has been an increase in sports bets being placed since single-game bets became legalized. It's expected that within 5 years, Canadians could spend $28 billion on the legal sports betting market.

Many people will only participate in online gambling if they are confident that their service is secure. Provincial gambling sites offer legalized sports betting, like OLG (Ontario Lottery and Gaming Corporation) and ALC (Atlantic Lottery Corporation). Since Canadians know and trust these services, it has attracted a huge new customer base.

However, more than half of sports bettors in Canada are using sportsbook operators. There are several legal sportsbooks that are dominating the gambling market in Canada, such as:

  • DraftKings
  • BetMGM
  • FanDuel
  • Barstool Sports
  • Caesars Sportsbook
  • The Score
  • Sports Interaction & more

Could Legalized Sports Betting Harm Canadians?

Every province is responsible for the rules and regulations of legal sports gambling. This includes what platforms operate in the province and the level of marketing. Ontario was the first province to recognize how a sportsbook's massive advertising campaign could target the wrong people.

Advertising for the gambling industry is allowed in Canada. Each company has to be responsible when creating ads to ensure they don't trigger people that are at high risk of gambling addiction. It's also important to ensure these advertisement campaigns aren't attracting minors.

In Europe, TV sportsbook advertising is not allowed for the reasons above. There are also rules preventing athletes, influencers, and other popular celebrities from hosting massive advertising campaigns targeting younger generations.

Sports gambling is considered a niche entertainment sector centred on adults between 25 and older. In order to reduce gambling harm, all marketing campaigns in Canada should be geared toward people in the 25 to 34 age group.

Experts in the country believe that when sportsbooks buy in-game ads or in-game tv spots, they aren't causing harm. Every sportsbook that's receiving national mega coverage by media outlets has options for responsible gambling. It's up to the gambler to use these methods, such as setting account limits for deposits and losses, to create a safe gambling experience.

What Sports Do Canadians Bet On?

All the stereotypes about Canadians and hockey are true. The NHL is the #1 sport for Canadians to bet on. However, Canadian gamblers also love other major sports leagues, and the NFL makes up a major portion of the betting lines, especially during Super Bowl.

Other sports that get a lot of action on the betting lines include baseball, lacrosse, tennis, golf, soccer, and basketball. With so many sports fans throughout the country, it's not difficult to see why the sports betting market is a flourishing industry.

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Author John Volter

I'm a self-proclaimed Canadian casino expert who writes about online casinos, games, trends, and the latest news. I've been in the industry for over 10 years and have seen it transform rapidly. For this reason, I'm knowledgeabl... Read more about the author

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Last updated: March 17, 2023