New Laws To Change Online Gambling In Canada
Posted on April 16, 2021 at 3:04am
The question ‘is online gambling legal in Canada’ has been asked on numerous occasions, by locals, and the world at large. It is such a commonly question because the truth is that online gambling Canada is steeped in a confusing, often ineffectual regulatory system. Current laws are, as they stand, leaving many wondering if they are or aren’t legally allowed to put down bets. So, the best answer to ‘is online gambling legal in Canada’ is, technically, yes and no. But, with a recent announcement from the Ontario government, it seems that things are soon about to change.
After a decade of demands by local gamblers and operators alike to reform online gambling Canada laws, it seems that at last the regulations are about to undergo a drastic change. Though, in this case the change is in regard to a very specific area of the rules. Namely, single event sports betting.
The Proposed Changes
Currently in online gambling Canada, only parlay sports bets are permitted. This means that any local visiting one of the legal online casinos Canada has to offer is only allowed to place parlay bets on sporting events. A parlay bet involves a series of wagers over numerous events, and is the only way that sports betting is currently allowed, much to the disdain of local gamblers.
However, the proposed reform will decriminalize single event wagers, allowing online casinos Canada to offer the option at long last. As it stands, plans are to form a new subsidiary of the Ontario Alcohol and Gaming Commission, which will be tasked with the newly unlocked online market. The new watchdog group will be given the authority to manage and regulate iGaming sites, as well as legal third-party operators.
Snuffing Out The Grey Market
Many are saying that the proposed new regulations are more than a decade overdue, given the rampant online gambling Canada grey market that currently exists. Many Canadians have been placing single event wagers via offshore operators, given that the activity is technically not illegal. This has resulted in a so-called grey market that is worth billions.
With a legal, regulated market, these billions could quickly be tapped by legal operators, effectively killing the grey market in record time. Though it remains to be seen just how robust and engrained the grey market really is, or if it really will unlock billions in new revenue overnight.
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