Ontario Sports Betting Takes Off

Ontario makes history and becomes the first province to legalize sports betting as of April 4th, 2022. The most populated province in the country allows visitors and residents to make bets online, using apps and/or in-person at casinos or with a bookie. 

 

Before Bill C-218 got passed in June, the only sports betting allowed was through parlays (betting multiple things will happen and all have to hit to win) and horse racing. The new bill removed the federal ban on sports betting and is clearing the path for a variety of sports betting such as future bets (winners of the 2023 NBA Championship) and single-game wagers (outright game-winners). 

 

How much money is involved?

 

The new legislation is set to be a cash cow. With a population of nearly $15 million (it would be the 5th most populated state), the province is predicted to generate $28 billion within 5 years of legalization, according to a study released by Deloitte. Its largest city and worldly destination, Toronto, is home to teams in the MLB, NBA, MLS, NHL, and CFL. 

 

The country has yet to release a revenue report on sports betting, however, the Ontario Lottery and Gaming Corporation (OLG) reported total revenue of approximately 2.2 billion Canadian dollars in 2021. It’s a safe assumption that revenue will increase due to the new platforms hitting the market. 

 

Who can partake in sports betting?

 

Anyone who is in Ontario and over the age of 19 can partake in sports betting online or in a casino. You must also be present in Ontario to place an online wager. If you’re a resident of the province, but not located in Ontario at the time of the bet – you might run into some difficulty being verified. Your best option is to make wagers in Ontario before you head out! 

 

Different provinces in the country have certain legislations restricting online sports betting such as Northwest Territories, Nunavut, Saskatchewan, and Yukon. Those states allow only retail sports betting.

 

Is it safe? How?

 

iGaming Ontario (iGO) has worked hand in hand with the Government of Ontario and the Alcohol and Gaming Commission of Ontario (AGCO) to build a sports betting market for Ontario, and ensure safety for all eligible bettors. The AGCO manages all online betting through a third-party operator. 

 

AGCO has approved 25 sportsbooks and 40 gaming operators, which are all listed on the AGCO website. Checking this list before placing a bet can help Ontarians avoid scams. Some popular names include Fanduel, BetMGM, and the most recent addition of Ceasars Sportsbook Ontario. 

Responsible gambling is the best type of gambling. Responsible gambling includes a variety of things such as understanding how wagers work to set a limit on how much money you’ll allow yourself to bet. This allows bettors to be empowered with knowledge and not intimidated or ignorant of the effects of betting. The iGO has set up an extensive webpage detailing its role in helping gamblers gamble safely. 

 

As more citizens become involved with gambling, the iGO is conducting a 2-year research study on the potential of dangerous gambling, including the change in internet gaming and problem gambling over two years, key demographics of those who are most likely to be associated with problem gambling and awareness of responsible gambling tools available in Ontario.

 

This study will help inform and empower gamblers to ensure a safe experience. 

 

Are there any benefits to sports betting?

 

Yes! There are tons. An obvious first reason is the entertainment value. Betting on games throughout your favorite season will make it easy to stay awake for late-night, west coast thrillers. Live sports games are always more fun when money is involved. No matter what you bet on, it’s easy to become passionate and invested. 

 

The opportunity to make some serious cash is a massive benefit to sports betting. You don’t have to put down a lot of money to win big, as long as you make bets that have a high probability of not happening! There’s also an option of doing parlays, which can land you a good amount of dough. 

 

Sports betting is also an easy-to-learn and convenient hobby. Sports games are always going on so there is always something to bet on. There are dozens of betting apps and websites so it’s incredibly easy to access. I’d always recommend researching how bets work, what certain terms mean, and finding trustworthy websites. With good preparation, you can be a successful sports bettor or if not, at least it’s a new great hobby to partake in. 

 

Ok, I’m in. How can I place a bet?

 

The first step is making sure that you’re in a province where online betting is allowed, and that you’re over 19. Sportsbooks will most likely make you verify your identity by uploading your ID. If that’s clear, the next step is to find a website and/or app that works for you and with you. Most betting avenues will be user-friendly, but it’s important to do research before and select one that works for you! Some, if not all, sportsbooks will give you betting credits with a first-time cash deposit, which allows you to place wagers. 

 

After selecting a website and depositing money, find a good bet to take. Do your research prior. Most sportsbooks will have some sort of “bet of the day” or a “popular parlay” which makes selections fast and easy. 

 

Once you’ve selected your bet there’s only one thing left to do – sit back and enjoy the game. Or, you might not enjoy it if you end up losing, but at least it’ll make the game more exciting. Hopefully, your wager wins, and if that’s the case feel free to withdraw the money won, or use that for your next bet. Both are great choices, and it’s your choice to make. 

 

Some sportsbooks are operating in Canada only so if you’re interested in keeping things homegrown, try checking out TheScore. 

 

Remember, gambling responsibly is always a winning bet.