Nevada proves it’s Time for Change in Canada Sports Betting Laws

Canada Sports Betting LawsLas Vegas sports betting is big business – bigger than it’s ever been before. Yet in Canada, sports betting remains on the low end of the gambling revenue totem pole. The obvious reasoning is a lack of interest from punters, who have continually pleaded for a positive change in Canada sports betting laws.

The way wagers are placed on sports in Nevada, compared to Canada, is drastically different. In Las Vegas, sports betting is offered on any and all sports, with everything from straight-up bets and point spreads, to in-play betting and props. In Canada, parlays are the only option, and there aren’t too many punters who find those attractive.

Las Vegas Sports Betting Booming

From 2007 to 2009, sports betting across Nevada was a profitable venue, but held steady at an annual $2.3 billion in wagers throughout those years. Since 2010, the market has increased a phenomenal 63.2%, having risen to a record handle of $4.5 billion in 2016.

Bellagio Las Vega Sports Betting VenueLas Vegas sports betting is clearly booming, and there are several good reasons for it. The rise of mobile technology tops the list. It seems like everyone carries a smartphone these days, and people simply love to use them. The ability to place mobile sports bets at any given time is just one factor in Nevada’s exponential market growth.

Public media is also attributing to the fact. Commentators on ESPN’s Sports Center aren’t just talking about the games these days. They’re discussing point spreads and odds, as well as fantasy players and prop bets. The media has shined a spotlight on the sports betting scene, highlighted by a barrage of DFS advertisements in between, and it’s having a notable impact on how many Vegas tourists are visiting sports books along The Strip.

It’s also worth noting that Nevada is the only state in the US where sports betting is legal. A law passed in 1992 prevents all other states from offering sportsbooks in their casinos. However, federal legislators are currently examining that law, pondering whether to legalize sports betting in all 40 states where gambling is available.

Considering the fact that Las Vegas sports betting now makes up 2% of the Silver State’s overall gaming revenue, chances are the other 39 states will push for a change.

Canada Sports Betting Law Hinders Revenue

The question Canada sports betting fans would like answered is whether the booming market to the south will have any impact on the laws here at home. It’s no secret that provincial governments love to generate revenue from gambling products, but the current legal status is a bane to our market.

Canada sports betting laws restrict us to meager parlay bets. That means we have to select at least three teams/contestants to win, and if all 3+ don’t win, we lose our entire bet. The payouts are great, but the odds are just terrible. It’s not nearly as attractive as placing a skilfully chosen straight-up bet on a single team, or betting in-play on a live match.

With sports betting finally becoming a substantially profitable form of gambling for Nevada, and the US government considering national legalization, maybe – just maybe – the Canadian government will finally take a second look at its prohibitive sports betting laws and make the changes necessary to please the punting public – and fill their tax coffers with new and much needed tax dollars at the same time.

Until then, we Canadians will continue to visit offshore online sportsbooks – oh, how our government hates that! – to gain access to the (non-taxable) variety of wagers we really want.

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