Around the world, sports betting is one of the most popular activities in the world. In some ways, it is more popular than the sports themselves, as bettors wager billions of dollars globally on some of the best athletic competitions known to man. But in Canada, sports betting is not as big as it could be, as many are wondering why sports betting is relatively small in the country in 2019 when compared to the rest of the world. There are a number of factors to consider when thinking about the overall size of the sports betting world in Canada, from the options that are at the disposal of bettors to what the future of the industry in Canada might hold. But as it stands now, the state of sports betting in Canada is an interesting one in that it feels like the industry could be a lot bigger.
One of the biggest reasons for a perceived small sports betting industry in Canada is the fact that single-event sports betting isn’t yet allowed throughout the country. Domestic sports betting entities are usually run by each province’s gaming commissions, which don’t allow for single event wagers. Instead, bettors have the option to place parlay wagers through these entities.
Parlay bets are fun, in that they offer large payouts on a small amount risked, but that is because they come with plenty of risk of their own. For a parlay to hit, every leg of the wager needs to be successful with no margin for error. As a result, the win probability of these parlays is lower than it would be for a single-game bet. That leads to bettors usually preferring to bet on single events.
Without the capacity for single-event wagers, bettors in Canada are often forced to resort to betting at offshore sites instead. There is nothing wrong with doing this, but it can have an impact on the size of the sports betting industry in a country when they can’t accept the kinds of bets that their players want to make. In fact, it’s entirely possible that the sports betting industry is bigger in Canada than many thing, it’s just hard to see that without the ability to bet domestically on single events.
Fortunately, though, that may be starting to change for Canadians. Ontario is in the process of introducing single-event sports betting in response to states in the United States that are nearby offering sports betting in the near future. This should help grow the industry in Canada, and it could end up prompting other provinces to follow suit.
With sports betting being as popular as it is around the world, there is no reason that Canada shouldn’t get into the game to the fullest extent that it can. And if they are successful in bringing single-game sports betting to the country, there will likely be a period of growth in Canadian sports betting that will bring it up to speed with the rest of the world in a hurry. The following bookmakers are a good starting point.
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