The official launch of single-game sports wagering in Canada has been much discussed in the news about the betting industry.
Canadian sports betting fans now have the opportunity to wager on events of the most played sports in the world. How will this influence the market?
New sports betting law opens opportunities for both players and ops
According to gambling news, after the removal of the ban on single-event bets on August 27, this started a new stage for the Canadian bookmaking market. Several companies have already announced that they will offer such services to their customers.
A recent survey from PlayCanada has analyzed what level of competitiveness this market will have. It is expected that the country’s bookmaking industry will generate revenue of two billion dollars. This also means a considerable inflow of money to the state coffers. The projected taxes are over 400 million dollars. Increased bettors’ interest in the legalized market is anticipated at $25.3 billion annually.
It is worth mentioning that the adopted law doesn’t provide a regulatory framework for betting on sports. It just allows a certain type of betting in Canada. This will become a new stage mainly for lottery companies, which will take advantage out of the sector.
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