Like most of the world, Canadian sports betting transformed in 2021. With gambling and online casinos becoming even more popular during the pandemic, it’s no surprise that single-event wagering was launched in 2021. Gone are the days of Canadians having to sit on the sidelines.
While Canadians now have single-event sports betting, it’s still missing the well-known and reputable sportsbook brands that you’ll find on either side of the Atlantic. For now, Canadians looking to try their luck with betting can only do so through single-game betting with lottery corporations that are government-owned.
The next step in Canada’s changing casino climate will be the introduction of private vendors to the world of sports betting. Until then, there are still dozens of online casinos that you can choose from in Canada. Are you not sure where to start your search? CasinoSource Canada has rounded up all the best online casinos in Canada.
What Canada sports betting is like right now
August 2021 saw the beginning of Canada’s single-event sports betting industry. New regulations meant that provinces and territories across Canada can now manage single-game betting within their own borders. Sports betting was meant with instant success. Within the first five days, the Ontario Lottery Gaming Corp took in over $1 million in wagers with 74% of them being single-contest wagers.
Other providers who went live in 2021 include the Western Canada Lottery Corporation (WCLC) and the British Columbia Lottery Corporation (BCLC).
How sportsbooks are moving into Canada
Not every province has its sports betting markets up and running fully. Many are actively working to open the market to private vendors. At the same time, many leading sportsbooks are getting ready to take advantage of these opportunities and move into Canada. DraftKings and FanDuel became partners with the NBA, becoming an official sports better partner with the NBA in Canada.
These well-established sports bookers are serious about getting into the Canadian industry. FanDuel announced in October that Dale Hooper will become their General Manager for their Canadian operations. Hooper will oversee development and implementation for the organization’s long-term strategy within Canada, which includes staying up to date with the latest regulatory changes in this emerging market.
Other sportsbooks are already trying to establish ties with the Canadian market, including Hard Rock, Caesars, BetMGM, PointsBet, and theScore Bet. You can expect to see these organizations taking active steps to immerse themselves in the Canadian market. PointsBet recently appointed Scott Vanderwel as their Canadian CEO and struck a deal with Curling Canada.
TheScore Bet has gained Gaming Laboratories International GLI-33 certification for its iGaming app for sports betting. This certification is one of the requirements any sportsbook must meet to become an official online sports betting operator in the Ontario region of Canada. Meanwhile, BetMGM has established plans to open a large-scale casino in Calgary, while Hard Rock already owns several casinos in Vancouver and Ottawa as it’s a member of the Canadian Gaming Association (CGA).
These are only a few of the well-established sports betting operators already making maneuvers in the Canadian market.
What about new operators?
It’s not just established operators who are exploring the Canadian market. The potential is virtually limitless for new private vendors. With residents keen to start exploring what online single-event sports betting has to offer, new operators are keen to get established in the Canadian market. All it takes is a quick look on Twitter to see the demand for sportsbooks.
The expansion of sports betting within Canada has the potential to make it one of the most exciting markets within North America. VIXIO, a gambling compliance company, is currently projecting that the online sports betting market in Ontario will generate gross revenues of almost $990 million in its first year. This gross revenue is expected to skyrocket to $1.86 billion by 2026 – making Ontario one of the most lucrative online gambling markets within North America. It would put Ontario on a level playing field with well-established states like Michigan, Pennsylvania, and New Jersey.
Private vendors are expected to be introduced this year with Alberta Gaming, Liquor, and Cannabis (AGLC) currently accepting bids from those looking to enter the province’s sports betting industry.
Are you looking to get started with online casinos, instead of waiting for traditional sportsbooks? You don’t have to wait until the end of the year to start trying your chances at winning big.