The Canadian government has been given the green light to allow single-event sports betting after the province of Alberta gave its official approval. The provincial gambling regulator in Alberta, known as the Alberta Gaming, Liquor & Cannabis (AGLC) authority, has acknowledged that the licensing of this form of sports betting Canada can offer is a significant step forward in the country’s gambling landscape.
Fans of land-based and online sports betting in Canada will soon be able to place legal wagers on individual sporting events as a result of the approval that was given to these forms of betting. The municipal rules governing gambling and sports betting had only allowed parlay bets, which are also known as multiple selection bets, up until this point.
Because of this decision, Alberta is now the second province in Canada to give its stamp of approval to the amendment of paragraph 407(4)(b) of the Criminal Code so as to make it possible for the legalization of sports betting in Canada on individual sporting events that take place within the country. The Canadian province of British Columbia was the initial one to take this step.
The Primary Agent of Facilitation
Liberal Government MP Kevin Waugh’s Bill C-218, also known as the “Safe and Regulated Sports Betting Act,” was a major factor in the successful passage of House Bill C-13, which was the legislation that was submitted to the House of Commons at the tail end of the previous year on the issue of the amendment of the country’s Criminal Code in order to allow single-event wagers. House Bill C-13 was a catalyst for the successful passing of House Bill C-13.
Waugh’s bill from the previous year was met with an overwhelmingly favorable reception from the House of Commons. The Chief Executive Officer of the Canadian Gaming Association, Paul Burns, described the sports betting Canada bill as having been the first step toward protecting Canadians from the predatory behavior of black-market operators, while also promising an enormous boost to the local economy. Waugh’s bill was ultimately successful in passing through the House of Commons.
Revenue that was Lost or Spent
The scenario has been a miserable one up until this point in time. It is estimated that well in excess of $4 billion is still currently being placed in bets with illegal brick and store and online sports betting Canada bookmakers every single month. In comparison, just $500 million is spent annually via licensed local bookies on parlay bets.
The elimination of the competition that the local business has from the counter-offerings made by neighboring states such as Michigan and New York, which are located only on the other side of the border with the Great North and more specifically Ontario, is another advantage that will result from the legalization of single-event sports betting in the country.
A fully regulated sports betting sector in Canada has the potential to stimulate economic growth through the generation of taxable revenue income as well as the addition of tens of thousands, if not hundreds of thousands, of new employment. The fact that it took legislators this long to adopt a regulated single-event sports betting business is the main drawback associated with having such an industry.