Single-event betting will generate an estimated $125m to $175m via online and land-based platforms
The British Columbia Lottery Corporation (BCLC) has backed single event betting in Canada.
Currently, punters are only allowed to bet on three games or more, which means that betting on a single match or event is considered illegal – per Canada’s Criminal Code.
The proposal to legalise single-event betting was brought forward last year to the Canadian House of Commons.
This form of betting is one of the most popular betting styles in Canada worth over $14billion. However, the industry is dominated by the black market.
Last year, Kevin Waugh stated that:
‘95% of it exists underground on the black market or through offshore websites. These are unregulated sport-wagering sites. None of that activity is subject to government regulations or taxes; none of it is creating jobs in this country or economic opportunities; and none of it is contributing to consumer protection, education, harm reduction initiatives or support services, which are badly needed in this country.’
Why support single-event betting?
The BCLC has been a continuous supporter for the amended bill and the support for single-event betting has increased considerably throughout the country.
BCLC’s director of eGaming, Stewart Groumoutis, highlighted the need to modernise the law:
Our players have wanted single-event sports betting for a long time. For example, this weekend is the Super Bowl and our players want to be able to simply bet on the winner, which they are unable to do under the current legislation. We’re encouraging the federal government to modernize laws so we can provide single-event betting to our players and generate additional revenue to support provincial programs.”
Furthermore, according to the BCLC, single-event sports betting will generate approximately $125m to $175m via online and land-based opportunities. This generated sports betting income will give BCLC the chance to inject more money in healthcare, education and community programs.
BCLC has joined North America’s major sports leagues as the NBA, NHL, MLS, MLB and CFL have all backed to the cause.
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