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A lot of people have been wanting to venture into online betting legally in Ontario. And with the Ontario market now open to online betting, people can legally place their money in Ontario sports betting. But what made this decision come to life? In this article, we try to answer this question while figuring out some of the key factors that have led to mainstream acceptance of Online Sports Betting in Ontario.
Availability of various legal types of betting
Before Bill C-218 was passed a couple of months ago, the major legal type of sports betting in Canada was through parleys, a type of betting in which players are required to select multiple results, and all of the selected games must be accurate in order to win. This sort of sports betting was also applicable to horse racing. However, an adjustment was made to that with Bill C-218, thereby removing the federal ban on Ontario sports betting and allowing various other types of gambling, such as single-game betting and future betting.
Opportunity to generate revenue through sports betting
Ontario now is known to be the first province to establish its regulated sports betting program and this has given various sportsbooks a legal platform to launch their business in the Ontario sports betting market. With this acceptance of online sports betting in Ontario, placing bets has now been made easy for gamblers. Moreover, with Ontario having an estimated population of about 14 million people, they are expected to generate handsome gross revenue from the now legal Ontario Sports betting.
Punters’ prior knowledge of sports betting
Following the fact that the government has looked into the online gambling industry and has legalized sports betting, there will be a major change in the gambling activities of players. Another major reason for the overhaul in the online gaming activity in Ontario is the fact that the majority of the residents are already placing bets over the internet. Before the acceptance of online sports betting in Ontario, most punters placed bets in what we refer to as the “gray market,” meaning an online sportsbook located offshore. So the legalisation of the Ontario Sports betting market has given these experienced punters a chance to place the bet in their homeland itself.