Last year, Canada legalized single event betting, legitimizing a sector Canadians have been spending billions of dollars on for over a decade. For clarity, Canadian sports bettors usually wager at offshore sportsbooks.
They can wager at local sportsbooks. But they would need to visit a land-based betting shop. Or they would have to place parlay bets at a province-operated gambling site. With the legalization of single event betting, Canadian sports bettors see benefits galore. Below are some of them:
Betting at Home-Based Sportsbooks
Ontario, B.C. and Quebec are in a race to create betting regulatory bodies now that single event betting is legal. The provinces also plan to commercialize the industry, which will help Canadians bet at locally licensed websites.
Presently, many Canadian sports punters bet through major online betting operators, more so, sites recommended by bestbettingsites.com. They do it for several valid reasons. First, the operators provide single event betting—they’ve been offering this market long before Canada legalized it.
Secondly, the companies are safe, secure and licensed by well-known regulators like the Malta Gaming Authority and the UK Gambling Commission. These regulators help improve the standards of gambling companies.
If Canadians provinces create regulatory bodies with the same high standards as the MGA and the UKGC, they could eventually win Canada’s love. In other words, they could successfully divert bettors from offshore to home-based betting websites.
Betting on Single Games
Perhaps this is the biggest benefit for Canada’s latest wagering law. It legitimizes betting on single matches, from hockey to football. In case you’re wondering, this is a big deal.
More than 70% of sports bettors around the world bet on single matches. It’s straightforward yet profitable. Better yet, it’s not as risky as betting on parlays. With parlays, you must be really lucky to win.
Sure, a win in parlay betting promises decent money. But if you place four predictions and fail at one of them, you lose your money. Single sports betting comes with much less pressure.
Your focus is one game. And this means you can focus on easy to predict matches. Of course, whether you should pick the most predictable games is a debatable topic. All the same, this is a privilege Canadians can now enjoy.
A Wider Range of Betting Products
When you think about it, Canada-based betting sites offer an incredibly limited number of sports and games. You can bet on Major League Games. But the only way to make money is to accumulate multiple bets into one.
Thanks to single event betting, bookmakers in Canada can now offer betting on hundreds of sports and leagues. You can bet on European soccer. Or you could bet on minor league games.
The best part: you can wager on multiple bet types. Think of totals, spreads, correct scores and props. These bet types add excitement to betting. What’s more, they offer amazing odds and potential profits. And soon they will be available at your preferred Canadian betting sites.
The biggest reason Canadians avoid local sportsbooks is that they offer generally poor services, especially odds. You see, nearly all provinces have one gambling operator.
It doesn’t face any competition in the province. And as such, it’s free to provide poor odds knowing Canadians have no alternative other than to gamble through offshore betting sites.
Legalizing single-sports betting last year attracted the attention of provincial leaders, who’ve promised to commercialize the industry. In turn, this will introduce a variety of betting operators with the will to provide competitive odds.
For the uninitiated, odds are a major pain point for bettors. If a betting site offers low odds, it limits the maximum you can win. But when there are other sites to compare with, you have a chance to identify good-quality odds for every game you predict.
In the era of parlay betting, the only bonuses Canadians could claim were those related to multi-bets. Now, punters have a much wider variety of bonuses:
- No Deposit Bonuses
- First Deposit Free Bets
- Loyalty Programs
- Cash backs
- Reload Bonuses
- Bonus Boosters
Betting bonuses carry plenty of benefits. Let’s start with welcome promotions. They include no deposit and first deposit bonuses. These freebies help you build trust with a new operator. They also boost your first deposit.
On the flip side, loyalty bonuses like cash backs and boosters let you know a sportsbook appreciates you. They also help reduce your betting expenses while also magnifying the maximum you can win.
Banking Through Local Banks
We’ll admit—Canadians have been depositing money to offshore sportsbooks through local banks for years. The way it works, foreign bookmakers use unique business names and addresses to avoid detection by banks.
Now that single-sports betting is legal, the relationship between Canadian banks and betting sites is bound to improve. For starters, banks will be processing payments to Canada-based sportsbooks.
They will have no reasons to deny gambling deposits if the industry is legal. The same case applies to all other payment options in the country. From credit cards and e-wallets to crypto gateways—Canadian bettors will have a plethora of ways to banks at betting sites.
Besides payment options, banking services could improve with the legalization of single-sports betting. But that will depend on the laws put in place by provinces. For example, they could demand operators to use low minimum limits, zero deposit fees and quick payouts—all of which are beneficial to sportsbooks.
Overall Better Services
If you’re like many Canadians, you wager at offshore betting sites because they provide better services that home-based sportsbooks. Now, Canadian provinces are promising to elevate the local betting space to another level.
For starters, they will provide hundreds of betting markets daily, something that’s always lacked in the local scene. Next, they’re promising to introduce competition in the betting industry.
A competitive market has always meant better services regardless of the industry. Essentially, it could help improve the state of mobile betting in Canada, from banking and mobile support to bonuses and customer service. If all things go well, Canada could succeed in killing the black-market betting industry.
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