Currently, it is illegal to bet on single games in Canada, but an amendment to this law seems to be in the works. The new bill would repeal a small section of the Canadian criminal code, allowing players to place wagers on single sporting events in the future.
Because betting on single sports is illegal in Canada and the United States, those who wish to wager on these events are forced to do so via illegal betting outlets. These types of operations are run by organized crime syndicates, so the current gambling laws in Canada support the growth of this market.
In the United States, $30 million a year is spent on illegal sports bets. In Canada, the same statistic is estimated at $2 billion. If the law is changed, legalizing single event sportsbetting, players will no longer be required to place their wagers at illegal gambling venues.
This is an important change to Canada’s gambling laws, as it will take power away from organized crime syndicates that base their finances on illegal betting operations. Additionally, the legalization of single game sports betting will create more jobs in the sector, as a recent study has revealed that over 150 jobs could be created in Ontario if the law is changed.
The changes to the law have received a great deal of support from politicians across the country. The second reading of the motion will take place on October 31st, and it is likely that the law will continue through the legislation process without much trouble.