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SINGLE EVENT SPORTS WAGERING COMING TO CANADA?

Tuesday October 4, 2011 : Amendment to Canada's Criminal Code proposed
 
Canadian punters have enjoyed legal parlay-style sports wagering for many years, but have been frustrated by limitations that ban wagering on a single sporting event...but that could be about to change, boosting a business that is currently estimated to generate around Cdn$10 billion a year, much of it illegal - only Cdn$450 million is wagered through the currently legal and regulated provincial sports lottery products.
 
The trigger for this change could be an amendment proposed in parliament this week by Joe Comartin, M.P. for Windsor Tecumseh, who seeks to amend the Criminal Code to permit single-event sports wagering in Canada.
 
"The reality is that Canadians are wagering on sports predominantly through illegal means, either with bookies or online," claims Bill Rutsey, CEO of the Canadian Gaming Association, in a statement supporting the amendment. "This bill will enable sports wagering to occur in safe, regulated environments."
 
A review of the annual reports of the Criminal Intelligence Services Canada (CISC) indicates that illegal bookmaking exists in all regions of Canada, with organised crime ultimately profiting from the revenue, says the Association. While the size of the Canadian market is unknown, estimates suggest it is in excess of Cdn$10 billion annually.
 
The growth in wagering on sports through the Internet has significantly increased over the past decade, with estimates showing that Canadians wager in excess of Cdn$2 billion annually through offshore sports books. Sports books return approximately 95 percent of the wagers to bettor in prize payouts, it asserts.
 
"The opportunity to offer a true sports book experience in casinos like Fallsview Casino in Niagara Falls or Caesars Windsor cannot be overlooked," Rutsey said. "It will provide tremendous tourist opportunities to those communities, and also ensure that our industry and our provincial governments benefit from any wagers made in Canada."



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Kentucky Derby Odds: Justify still Favorite - With all the races on the Road to the Kentucky Derby complete, Justify is still on top of the odds list at 4/1. But he’s got company: Mendelssohn (9/2), Audible (11/2) and Magnum Moon (8/1) are all very much in contention for the big race on May 5.

$40,000,000 guaranteed Partypoker Powerfest - $40,000,000 guaranteed POWERFEST schedule released. 6th-20th May, 366 events, 13 events with $1,000,000+ guaranteed

888Poker Takes Over the States - With more and more states moving toward online casino integration, an increasing number of international players are moving in on American territory. Who will take the crown of the most popular online poker venue in the United States?

Top gambling ICOs to watch this year - The gambling ICOs that are being launched in 2018 are of better quality. Unlike the last half of 2017 when ICOs were numerous, the first few months of 2018 have seen a big drop in number.

MPN Poker Tour Bratislava Results - Alex Hendriks Wins Inaugural MPN Poker Tour Bratislava Main Event and €27,000

MPN Poker Tour Bratislava | Day 2 - It was a hard fight around the bubble, culminating in the elimination of Georgios Drakakis in 46th place. He received a surprise consolation entry into the next MPNPT stop in Sunny Beach, Bulgaria (5-8 July), which softened the blow of missing out on a €900 min-cash.

MPN Poker Tour Bratislava Day 1B - Dorey Captures Chip Lead After MPNPT Bratislava Day 1b Triples 1a Field Size. The second flight of the €550 MPN Poker Tour Bratislava Main Event is in the bag, and so are the chips of 97 players who will be returning along with the 26 Day 1a survivors to fight to the money and beyond today

MPN Poker Tour Bratislava Day 1A - The MPN Poker Tour has arrived in Bratislava for the very first time, bringing with it the Tour’s friendly mix of local and globe-trotting poker enthusiasts, pros and qualifiers to the beautiful Slovakian capital.

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