Business Tech

What Advantages Legal Sports Betting Will Bring to Canada?


Sports betting is becoming a huge commodity across the globe. More countries are opening to the idea of allowing residents and those visiting their countries to be able to place wagers on football, basketball, cricket, and other amateur and professional sporting events.

Canada recently became one of those countries. Recognizing that many of its residents wanted to place wagers on hockey, lacrosse, and other popular sports in the country, the Canadian government legalized the practice, opening the door for provincial governments to choose if and how sports gambling would be allowed.

Many Benefits to the Idea

The great thing about this decision has been that everybody is seeing it as a win-win. First of all, this greatly reduces illegal gambling within the country. According to reports, illegal sports betting is a $14 billion industry, and this hurts Canadians in a number of ways. It begins with the fact that it increases the amount of criminal activity occurring within the borders of the country, something the government has been taking stringent measures against.

In addition, that revenue can now be spent in legal venues, providing additional tax revenue to the provincial and federal government. That money can be used in a variety of ways, including in helping those who are battling some form of addiction. Plus, giving citizens the ability to place wagers on these events legally reduces the potential for someone to engage in criminal activity, benefiting the country as a whole.

In addition, it is expected that offering sports betting is going to create over 2500 jobs. This not only provides individual income, but additional tax revenue as well.

Protecting Its Citizens

The best part about Bill C-218 is that it provides for measures and programs to assist those that may be battling some form of gambling addiction. Many were opposed to this bill out of a concern for the impact it would have on those who struggle with controlling their behaviour. The bill provides that some of the revenue obtained would be used directly toward assisting those battling addiction. Plus, measures have been put in place to allow gamblers to be able to “opt out” of using these platforms to protect themselves.

In addition, Canada has ensured that there are safe Canadian casinos online where people can place wagers. Each of these casinos has been properly vetted by the provincial and federal governments to ensure that they are providing a fair and secure site. They must meet stringent guidelines. This is often meant that well-established casinos and sportsbooks have been granted licenses, giving users peace of mind.

This is a great opportunity for Canadians to enjoy an activity that is now legal across the country. While laws and regulations may differ in each province, the door has swung open for Canadians and those visiting the country to place wagers on their favourite sports. All of this, while also ensuring that the proper protections have been put in place to protect users.

This has been something that Canadians have been longing for some time, and now they are able to place bets on their favourite sporting events.

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