Black Market Billions<\/strong><\/h2>\nAs more states gradually opt to regulate sports betting in the US, Fedeli envisages increased competition for the Canada\u2019s gaming market, as citizens hop across the border to spend their hard earned dough.<\/p>\n
New York, which shares a border with Ontario, is expected to launch sports betting later this year, which will allow the state\u2019s tribal operators — some of whom have casinos a stone\u2019s throw from the Canadian border — to follow suit.<\/p>\n
The reality is, though, Canadians are far more likely simply to log on to an unlicensed, offshore gambling site than become sports betting tourists.<\/p>\n
\u201cGiven the absence of legal alternatives, Canadian consumers are increasingly turning to illegal, off-shore sportsbooks, or to US-based casinos, which offer single event sports wagering,\u201d writes Fedeli.<\/p>\n
The Canadian Gaming Association estimates that Canadians wager $450 million a year on legal parlay bets, while a staggering $10\u00a0billion goes to the offshore markets.<\/p>\n","protected":false},"excerpt":{"rendered":"
Ontario finance minister Vic Fedeli has petitioned the Canadian federal government to shake up the country\u2019s abstruse sports betting laws, which he says are costing his province alone $110 million per year in revenue, lost to the black market. In a letter seen by The Toronto Sun, dated March 8, Fedeli calls on Federal Finance […]<\/p>\n","protected":false},"author":36,"featured_media":100486,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[61,13592,16,1074],"tags":[],"acf":[],"yoast_head":"\n
Ontario Calls for Single-Game Betting in Canada, Pro Leagues on Board<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n