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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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Gambling News :

Amaya FY2016 Trading Update - The Montreal-based Amaya online gambling group has issued a trading update covering FY 2016 and improving its forecast revenue and earnings numbers.

Another Mega Fortune Dreams jackpot for Euro 3.5 million - In a statement Friday NetEnt advised that the lucky player is a 62-year-old woman from central Finland who won the seven-figure sum from a Euro 1 stake.

Stanleybet has filed a legal action against the government of Cyprus - Bookmaking firm Stanleybet has filed a legal action against the government of Cyprus, claiming Euro 12.5 million as compensation for what it claims is loss of profits and opportunities, prejudice to image and business reputation and legal costs.

LeoVegas To Sponsor Leicester Tigers - The agreement includes official partner accreditation, media space at Welford Road stadium and matchday tickets and VIP hospitality as well as two pitchside perimeter boards from the 2017/18 season and one for duration of the 2016/17 season.

Optima Information Services iShop - Industry visitors to the recent TVC Bookmakers Trade Fair in Solihull, UK were much taken by Spanish betting technology firm Optima Information Services' iShop product, and the company went on to win the SBC Best Retail Betting Product award with it last month.

Golden Nugget Las Vegas Launches New Betting App - Golden Nugget Las Vegas has unveiled a sports wagering app offering Nevada punters the comfort and convenience of being able to wager from anywhere in the state.

CAGAYAN CHIEF MOVES TO REASSURE LICENSEES - Apparently $4 million is going into improvements of the Authority’s data centre in the Freeport at Cagayan, whilst another $3 million has been earmarked for an upgrade to data infrastructure located outside the Freeport.

New Massachusetts Online Gambling Bill - It seems that every two years (give or take a few months) Massachusetts state Senator Bruce Tarr flights an online gambling legalization bill in the state Senate.

Las Vegas Sands Fined for foreign bribery allegations - #lasvegassands Las Vegas Sands, the land casino company owned by multi-billionaire US mogul Sheldon Adelson, has again had to cough up a stiff penalty for non-compliance with the law.

Libratus AI Program Destroying Human Poker Opponents - #Libratus With 40,340 hands played (about a third of the 120,000 planned) Dong Kim is down $29,506, whilst Jimmy Chou ($113,7728), Daniel McAuley ($141,877) and Jason Les ($186,489) are all carrying losses.

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