Canadian Single-Game Sports Betting: Risks VS Opportunities

Updated by Robin Storm on September 06, 2021 in Industry News

A similar sort of bill battled its way through the House of Commons about 10 years ago, with all parties supporting it. However, once it reached the Senate, it had very little impact and pretty much died out when 2015’s election was called.

A second attempt took place when New Democrat MP Brian Masse submitted a private member’s bill, uniting his own Liberal party with the Conservatives in 2016. However, this was also not to be, leaving the Liberals to have another try in November 2020.

That legislation was dropped when Conservative MP Kevin Waugh agreed to include its horse racing industry protections into Bill C-218, and it was this that passed the House in February 2021.

Best Casino Bonuses for September 2021

Rank Rating Bonus Offer Secure Link

Top Features

  • Fast payouts
  • Live Casino
  • Free Spins

Payment Methods

Visa MasterCard Neteller Skrill Trustly Rapid Transfer EPS Astropay
More details

Top Features

  • Tax Free Winnings
  • Excellent Support
  • Low wager

Payment Methods

Visa MasterCard Skrill Neteller Apple Pay Bank Transfer Interac Maestro
More details

Top Features

  • No deposit bonus
  • Tax Free
  • Wide choice

Payment Methods

Visa MasterCard Skrill Neteller ecoPayz Alipay Revolut Credit / Debit Cards

So, with this bill likely to receive the royal assent that it needs, what will this mean for Canada and its sports betting sector? What are the opportunities that single-game wagering will present, and on the other hand, what are the risks associated with it?

Doubtless, the sports betting landscape is sure to change, considering that Canadian gamblers partake in annual betting at offshore sites, and this is estimated to generate revenue of around $10 billion.

An Influx of Funds from the World of Sport

Plans are already in place by multiple professional sports betting teams and leagues, to take advantage of the change in the law. Various experts have suggested that the potential for the sports betting market is so large in Canada that it could provide a $4 billion revenue stream.

Multiple sports betting operators will likely enter into the Canadian market now, with popular brands like DraftKings, FanDuel and PointsBet being favourites to do so. Of course, this could result in professional Canadian sports teams forming partnerships with such gambling brands, obtaining sponsorship and helping to generate additional funds that way.

Doubtless, that will contribute significantly enough to the economy of the country, with a variety of income streams being plausible. New revenue is likely to be generated from the individual player betting that will become available, while realised revenue via sports marketing opportunities and the partnerships mentioned earlier is also likely for Canada.

Of course, new revenue streams are always going to be good. They will benefit both the Canadian economy and the sports betting sector overall. It would be key to note that there is also the possibility of suffering from big and unknown impacts within, too.

With the homegrown brand theScore potentially entering into the market, its gaming equity is most likely to be sensitive to single-game betting becoming fully legal. The stock encountered some profit-taking when it was announced that the bill had passed the Senate, with shares being 70.63% higher in comparison to the previous month.

Score Media, which is the parent company of theScore, debuted on the NASDAQ in March.

It is cited as being the biggest winner when it comes to the legalisation of single-game wagering in Canada. Due to the fact that it would have a home country cash flow, that could assist it with gaining even more share in the U.S. market.

Canada’s Sport Industry

It is well-known these days that the world of sport was heavily affected by the threat of the worldwide pandemic. In fact, some events are still being impacted by it, with the Olympics in Japan taking place without any fan attendance at all. Yet, the global sports industry is thought to be worth around $529 billion. Without fans buying event tickets and merchandise from these occasions though, a cash stream has dried up.

Canada’s sports scene didn’t escape those restrictions either. Just take a look at the Toronto Raptors having to play in Florida because of international border restrictions being in place, thanks to COVID-19. The costs have been outrightly terrible because of this.

Canada makes up a tenth of the $80 billion sports industry shared between it and the United States of America. The introduction of single-game sports betting provides the country with a new option for engaging the fan-sport property entertainment experience. And it is due to this that so many sports teams and media partners etc. are pretty much going for it where sports betting is concerned.

Compare this new opportunity with the Big Tobacco sponsorship money that was laid out from the 1970s until 1989. An advertising ban was introduced back then which meant the country’s three huge tobacco companies could no longer sponsor art groups or sporting events. This dried up a huge portion of funds for the scene – something that the sponsorships from sports betting brands could reintroduce.

Certain Concerns to Be Monitored

As with anything, the introduction of single-game wagering has its concerns for the Canadian government. Therefore, it has chosen to introduce a watchdog sort of agency, which will monitor the industry as a whole. The bill’s current form incorporates amendments that will prohibit match-fixing from taking place, but other things should also be considered.

How exactly will responsible gambling be moderated and managed, as well as communicated? As of the moment, Canada does not seem to have had a proper conversation with regard to the implementation of responsible betting within its borders.

The potential is definitely there for gambling addiction numbers to rise, thanks to the launch of single-game wagering. Recent research suggests that sports fans and bettors are at a higher risk of suffering from gambling addiction than those who are not sports fans. While it is clear to see what some of the best sports for betting in Canada are under current legislation, single-game betting will open the market up even more.

It is notable that Canada doesn’t have much in place that echoes what the U.S. National Council on Problem Gambling provides. theScore is already a member of that, but without such being available in its hometown, will it have as much incentive to enter that market?

As well as this, there is a concern that the industry is suffering from a lack of diversity, being loaded with traditional male profiles. Introducing a diversity strategy could set up a much more attractive scene.

There is little doubt that the introduction of single-game betting will change the country’s landscape. For now, though, the jury remains unclear on what sort of impacts it will have, both positive and negative. Ideally, Canada’s sports betting industry should work out some protocols for ensuring it provides a transparent and considerate betting market.

Diversity should also be a key factor, while a sustainable footprint is something else to consider.

Latest News View all

£5 Flutters at Top UK Casinos

So, you find yourself a new online casino, but you realise that the minimum deposit needed is £20. You’re not interested in depositing such an amount, preferring to stick with something lower. What do you do? Well, fortunately, we are here to tell you that you can join various online casinos that allow you to deposit and play with as little as £5

Read more

theScore Preparing to Launch App in Ontario and 4 US States

Ontario and at least four US states are to benefit from the arrival of theScore, one of Toronto’s own sports betting brands. Owned by Score Media and Gaming, theScore is expected to launch in Ontario later on in 2021. Its plans then expand into 2022, when it is hopeful that it will be able to introduce its services to the four US states. From there, the future would doubtlessly look bright for the brand owned by John Lecy.

Read more

Zimpler Vs. Cards Vs. GPay - Which is Better for UK Players?

It’s always been a theory of ours that making deposits and withdrawals at an online casino should be a simple process. And to ensure that this is the case, we believe that a variety of payment methods should be supported by a site. For the most part, this is certainly the case. And when it comes to the United Kingdom, the country plays host to one of the most thriving gambling environments around the world. Because of this, numerous payment methods are also usable for UK players, and these are available at a multitude of high-quality, entertaining UK casino sites.

Read more

Most Popular

Biggest Gambling Cities Across the Globe

Gambling is not something that is restricted to one specific area of the world. In fact, it is present in more countries than you may know, be that in an official way or a bit more of an underground format. Whatever the case may be, gambling has become an appealing pastime for many people all over the globe. So much so that various cities around the world have risen to obtain the status of being the biggest gambling locations today.

Read more

Bankroll Warrior's New Guest Host Announced

CasinoTopsOnline’s very own podcast The Bankroll Warrior is going to be guest-hosted by none other than Tayo Branston, also known as FunkTazer. Check out who the new guest host is and what he plans on bringing to the podcast.

Read more

Euro 2020 Final Odds Italy vs England - Who Will Win It?

Italy and England will face each other on Sunday at Wembley in what has been an existing European Championship tournament. Hosted a year later due to the pandemic, the Euro 2020 will come to an end on Sunday at 3 pm, with the final taking place at Wembley. Is it coming home? Or is it coming to Rome? Let’s see what the bookmakers say.

Read more

How Do No-Risk Bonuses Work?

Let’s face it, most of us love a bonus. These are the joyous treats that keep us ticking and give us that little bit extra. Making us feel welcome at our favourite online casinos, or rewarding us for our loyalty. They come in all different shapes and sizes these days, as sites compete for our business.

Read more

Biggest Online Jackpot Wins of Last Year

It is always a momentous occasion when someone wins an online jackpot from a casino. And while many of us believe that they do not come around so frequently, several big winners were recorded in 2020. So, keep playing and you never know, you could be the very next person to claim a jackpot payout. Let’s have a look at the biggest online jackpot wins of 2020.

Read more

Best Crypto Gambling Sites 2021

Crypto bring with it new opportunities and for all those online casino players who prefer to use cryptocurrencies for their gambling payments, we know of several online casinos that support Bitcoin, Litecoin, Ethereum and other cryptocurrencies as a payment method. So, which of these sites can we recommend for 2021?

Read more

Bankroll Warriors Gets New Host for 2021

CasinoTopsOnline is re-launching its exciting slots and casino Twitch stream Bankroll Warriors with a brand new host for 2021. At different times in his life, Dreezy has been a professional poker player, gambler, esports bar owner, trucking business owner and Twitch streamer. Read more

£100 Deposit Bonus UK

UK online casinos that offer a £100 deposit bonus are quite common, especially as we see an increase in the number of online casinos, which results in greater competition between them - and better offers for players!

Read more

Bankroll Warriors is Back With HUGE NEWS

Bankroll Warriors is our hit casino podcast, offering you a look into the world of the best slot games online at the top casinos around. So get right for lights, camera, and spin! Whether you’re after discovering the best bonuses or just after some suggestions for a new game, our new all-star streamer team has got what you need.

Read more

5 Favourite Slots by European Players

Europe is a hotbed for casino gaming activity, and there’s little wonder. With locations like Monte Carlo, London and Malta all playing host to exciting casino escapades, it has quite the popular appeal for players. It is also due to this that many online casino slots have become popular in their own right with players from the continent. So, which ones can be considered the five favourites of European casino players? We’ve got a look at each of these and their inbuilt features below.

Read more
Robin Storm
Robin Storm
Author
636 Articles
Always on the lookout for the best online casinos and their latest offerings, Robin works hard to make gambling fun and worry-free for all the players. His years of experience working in the industry provides. If he’s not trying out new casinos and playing slots, Robin enjoys testing new recipes and listening to the latest hits. He is very passionate about being able to play casino games in a relaxed and fun way and he is enthusiastic to share in his articles on how to play at casinos and avoid all the hassle.
About the author