For companies running sportsbooks, the chance to provide single-event sports betting in Canada resembles the situation when a few major U.S. states legalize sports wagering, but it lacks much of the complex groundwork typically involved in achieving similar outcomes in the American landscape.
The passage of Bill C-218 in the Canadian Parliament this past summer opened the doors for Canadians to place sports bets in a conventional manner, facilitating single-event betting rather than restricting them to the three-leg parlay bets that have been available in several provinces for many years.
Single-event betting commenced in Canada at the end of August, with the Ontario Lottery and Gaming Corporation (OLG) launching their PROLINE+ product.Ontario sports betting .
The complete Ontario online sports betting market, alongside iGaming options provided by private companies, is now available.will likely launch in early 2022 .
Canada's population surpasses 35 million, slightly fewer than California. Ontario, the most populous province with 13.4 million residents, offers a market similar in size to Pennsylvania's 13 million, while Quebec, with around 8.2 million inhabitants, resembles Virginia's 8.6 million population.
Ontario and Quebec together comprise nearly 65% of Canada's total population, with British Columbia and Alberta contributing almost 25% combined as the next two smallest provinces by population.
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Some projections suggest that the Canadian sports betting market could reach approximately $25 billion once it matures, which may take a few years. If this forecast holds true, the implications for revenue, operator profits, and government tax income are yet to be clarified, as they will depend on factors such as tax rates and marketing costs.
From the viewpoint of sportsbook operators, Canada currently represents one of the best opportunities in North America. With the legislation already approved, the market is set for commercial operators to finally attempt to tap into the Canadian betting landscape, taking advantage of a prior understanding of online gaming.
Hockey Will Be Heavily Wagered
It’s no shock thatOntario hockey betting Ice hockey will always be a top favorite in Canada, and this is positive news for operators due to the lengthy season. The 82-game NHL regular season, which has returned to its pre-pandemic format, runs from October to April, followed by playoffs that showcase the highest caliber of hockey until June. With 16 teams participating in the playoffs, excitement for betting remains high across both Canada and the U.S.
ESPN has recently become the NHL's broadcasting partner once again, the first time since 2004. In addition, ESPN is now collaborating with various betting operators, including Caesars Entertainment, aligning multiple sectors that forecast a positive outcome for sportsbooks, the NHL, media entities, and provincial governments.DraftKings Sportsbook Ontario Following hockey, basketball, baseball, and football are expected to attract significant wagering interests. In Ontario, fan engagement is further fueled by local teams, including the NHL's Toronto Maple Leafs and Ottawa Senators, the NBA's Toronto Raptors (winners in 2019), and the MLB's Toronto Blue Jays. While NFL betting might not reach the same levels of enthusiasm in Canada as it does in the U.S., sportsbooks will still benefit from betting on it and the Canadian Football League.
A notable yet lesser-known sport has found itself at the intersection of betting and wider notice, as PointsBet, an online sportsbook, recently announced it would serve as the exclusive sports betting partner for Curling Canada.
Keep Your Eye on Curling
PointsBet Canada Expands Its Reach with Curling Canada Partnership
This partnership will be fascinating to observe as it presents a chance to determine whether integrating gambling into a sport can enhance the popularity of a niche activity, even at a local level.
Soon, we will understand the implications of this partnership for the Canadian sports betting landscape.
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