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   | Domenica 09 Gennaio 2022 - 23:31
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п»їDraftKings Preps For Canada Sports Betting With Expanded NFL Deal.
DraftKings has expanded its DFS deal with the NFL north of the border in a move that could boost the operator’s profile ahead of legal sports betting in Canada .
The NFL and DraftKings first partnered back in September 2019 with DraftKings named the exclusive DFS sponsor of the league.
As part of that agreement, DraftKings gained access to NFL branding and content opportunities across the DraftKings app and NFL Media.
That partnership was for the US only but has now been expanded to the Great White North.
Is DraftKings focused on DFS or betting?
“The relationship we share with the NFL is important for DraftKings to provide customers a great experience,” said Ezra Kucharz , chief business officer at DraftKings.
“This expanded agreement gives us a unique opportunity in the Canadian market. We look forward to working with the team at the NFL Canada as we continue to shape the modern fan experience.”
A quote from the NFL also spoke about the growing popularity of DFS in Canada. But it’s hard to look past Canada sports betting as the key driver for the new deal.
Momentum for Canada sports betting.
The Canadian government is bidding to end the federal ban on single-game sports betting. And the province of Ontario plans to end its lottery-run monopoly on online gambling. That would allow private operators into the market.
Ontario alone would be equal to the fifth-largest state in the US with 15 million citizens. Toronto-based TheScore estimated a market potential in Ontario of $1.5 – $2.1 billion in annual gross gaming revenue.
The market could be live by the second half of 2021, TheScore said.
Just as DraftKings built up an audience in the US via DFS, it can now gain a similar head-start in Canada sports betting. All told it’s been a good news week for DK. The company’s stock jumped more than 10% following an investment from one superstar stock picker.
Canada Sports Betting.
Sports betting in Canada exists, but it’s not optimized – yet. A new effort to legalize single-game sports betting in 2021 is gaining momentum.
Right now, only parlay betting (multiple events on the same ticket) is an option through provincial lotteries.
This has led much of the sports betting market to migrate to illegal offshore sportsbooks. Of the C$14.5 billion bet on sports in Canada each year, just C$500 million of that is done legally through provincial lotteries, according to the Candian Gaming Association .
The future of sports betting in Canada.
The latest attempt at legalizing single-game Canadian sports betting has legs. The movement started in early 2020 as a private member bill, C-218 , sponsored by Kevin Waugh .
It was eventually picked up as government legislation in November 2020 , which suggests the issue is close to settled.
Ending the federal ban on single-game betting should change the landscape of Canadian sports betting significantly. It would mean more opportunities for bettors to bet legally and could lead to provinces opening up licensing to other operators.
When will online sports betting launch in Canada?
Online sports betting is already allowed in six provinces:
British Columbia Nova Scotia New Brunswick Newfoundland and Labrador Prince Edward Island Quebec.
Of course, these legal products all require parlay bets of two or more events .
It’s unclear at this point if additional provinces would authorize online sports betting.
There are other online options, but they aren’t regulated. Offshore sportsbooks take advantage of the fact that single-game betting is illegal in Canada and therefore serve the market for what bettors can’t get legally.
These offshore operators don’t pay taxes and aren’t regulated at the provincial or federal level. Sports bettors are making an additional gamble whenever they bet on these offshore sites as there’s no guarantee winning bets will be paid.
Some offshore sportsbook operators have closed their operations without warning and without returning customer funds.
Recent Canada sports betting stories.
DraftKings Preps For Canada Sports Betting With Expanded NFL Deal.
TheScore Eyes US Listing To Boost Valuation As Potential Canada Launch Looms.
Analysis: What New Ontario Auditor General Report Means For Canada Sports Betting.
1 2 3 … 7.
Legal betting options in CA.
There are legal betting options in Canada, but they all require a parlay of at least two or more wagers.
Lotteries operate sports betting at the provincial level in Canada. All provincial lotteries offer sports betting:
Atlantic Lottery Corporation (provides sports betting to Nova Scotia, New Brunswick, Newfoundland and Labrador and Prince Edward Island) British Columbia Lottery Corporation Loto-QuГ©bec Ontario Lottery and Gaming Western Canada Lottery Corporation (provides sports betting to Alberta, Saskatchewan and Manitoba as well as the territories of The Yukon Territory, Northwest Territories and Nunavut)
Ontario sports betting.
Ontario is primed to be the sports betting leader for Canada given its population.
The province has more than 38% of Canada’s population and would be the fifth-largest US state in front of Pennsylvania .
There’s one drawback for sports betting in Ontario, though: Ontario Lottery and Gaming does not currently allow bettors to place their bets online.
Toronto , the capital of Ontario, has three significant American professional teams when it comes to sports betting:
MLB вЂs Blue Jays NBA вЂs Raptors NHL вЂs Maple Leafs.
Ontario also borders Michigan in the United States . Michigan is a state that has legal sports betting at retail locations and will add online wagering in early 2021. That likely will increase pressure on Ontario to legalize sports betting in the near future to avoid losing potential tax dollars to Michigan.
Most popular sports to wager on.
There’d be no point in talking about popular sports in Canada if we didn’t mention hockey.
There are seven National Hockey League teams based in Canada:
Calgary Flames Edmonton Oilers Montreal Canadiens Ottawa Senators Toronto Maple Leafs Vancouver Canucks Winnipeg Jets.
With that many teams, hockey is sure to get its fair share of the legal Canadian sports betting market. Just like its southern neighbor, though, football will likely see the most bets across any sports.
Canada has the Canadian Football League , but the National Football League is plenty popular in Canada as well. According to a January 2020 blog from Mintel , a quarter of Canadians follow the NFL, same as the CFL.
There should be some betting love given to other leagues as well. Toronto is the home to the only Canadian franchises in Major League Baseball and the National Basketball Association.
Canada and daily fantasy sports.
The industry’s biggest operators, DraftKings and FanDuel , both operate in Canada. That means should single-game sports betting be allowed in Canada, the two biggest US sports betting operators would also have a distinct advantage in Canada with its portfolio of DFS players.
Is horse racing legal in Canada?
Yes, horse racing and betting on horse racing is legal in every province of Canada.
The Canadian Pari-Mutuel Agency regulates and supervises betting on horse racing at the federal level.
Canadian sports betting timeline.
2020: MP Kevin Waugh launched the third effort to end the ban on single-game sports betting in Canada.
C-218 received significant support from multiple parties and was eventually picked up as a government bill in November.
2016: MP Brian Masse вЂs second attempt to end the single-game ban fails.
2013: MP Brian Masse launches the first attempt to end the ban on single-game sports betting in Canada, but it fails.
Sports betting FAQ.
Is sports betting legal in Canada?
Yes, betting on sports is legal in Canada with a slight twist compared to legal US sports betting. The federal government currently bans betting on single games, meaning all bets must be parlay bets.
Where can I bet on sports in Canada?
Right now, you can bet on sports in any province or territory in Canada. Betting right now is only available through provincial lotteries. These bets must be parlays, although the government is working to legalize single-game wagering.
Can I bet on sports on my phone?
There are six provinces that allow online sports betting right now:
British Columbia Nova Scotia New Brunswick Newfoundland and Labrador Prince Edward Island Quebec.
All of those legal betting options are through provincial lotteries.
There are some unregulated sportsbooks that serve the Canadian market. These offshore operators are not regulated at the provincial or federal level, which makes betting with those operators risky.
Consumers have no legal recourse when betting with an offshore operator. That means a bettor could be denied a payout or have their account closed with funds unreturned without any recourse.
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