The Senate recently approved single-game sports betting in Canada. Unfortunately, it took more than ten years to pass the bill. Also, it would change the sports betting market in the country. At present, Canadians wager around $10 billion each year via illegal sportsbooks and offshore sports betting platforms.
According to the best betting solutions, the bill would also affect media partnerships and sports marketing. It would help the industries impacted by the pandemic.
Numerous industry insiders addressing pro sports groups and alliances are now getting ready for what they portray as being one of, if not the most, groundbreaking game interruptions in the advanced industry. Additionally, specialists noted the vast potential of the market. The Canadian sports betting industry can earn up to $4 billion.
Single-Game Sports Betting in Canada
Plenty of game wagering operators will enter the Canadian market, including FanDuel, DraftKings, and PointsBet. That will contribute essentially to the economy through various means, including new income through individual game wagering just as acknowledged income through sport-promoting organizations with professional groups and alliances.
According to live betting platform specialists, these new income streams will be hard to overlook yet are loaded with significant and obscure effects.
Today, the worldwide sports industry has a value of around $529 billion. However, the pandemic affected the industry, including loss of fan-related income, ticketing, and venue attendance.
In Canada, for instance, the Raptors needed to play in Florida because of closed borders due to the coronavirus. As a result, their overhead costs were higher than the time before the pandemic.
In the United States and Canada, the gambling sector is assessed to be roughly $80 billion, with Canada making up a 10th of this market size.
According to sports betting solutions experts, single-game wagering offers another method for drawing in the fan-sport property diversion experience. As a result, so many teams, media partners, and other stakeholders are hoping that be part of the industry.