Despite an active discussion in Canada’s parliament on legalizing sports betting, the country missed another Super Bowl with adopting such legislation.
Current law bans parlays, sports betting on single sports events, except live horse racing.
The Canadian Gaming Association figures there is an illegal sports gaming market of about $14 billion, while legal sports lotteries rake in about $500 million.
One MP from Saskatchewan declared last week, “We’re missing out on millions of dollars for our communities,” adding “Unfortunately, almost all of that money will be going to offshore websites and criminal organizations.”
A bill seeks to remove a portion of the Criminal Code that prevents provinces from widening the types of wagers they allow.
Another bill would allow provinces to regulate parlay wagers, except for horse racing, which operates under federal law. Both laws claim they will dry up funds sucked up now by the mob while creating new revenues for health care and schools.
Another MP declared, “Now is the time for the government to act and begin competing on a fair playing field with the United States and other countries. It means jobs.”
MP Michael Kram sees sportsbook legislation as a way to help the Canadian Football League, which did not play last year due to Covid-19 restrictions and the inability to float a $300 million loan.
Kram said, “It would be nice if we could save this great Canadian institution without being a burden to taxpayers. I believe that single-sports gambling will allow the CFL to do exactly this.”
Ontario, which is larger than all but four U.S. states, already has a plan if the federal government lifts the ban. It would create a subsidiary of the Alcohol and Gaming Commission of Ontario (AGCO) to oversee iGaming sites run by private third parties.
Some provinces, such as British Columbia and Quebec envision governmental entities controlling the activity, much as they run casinos and the lottery.
