When online sportsbook betting originally became legal, Canadians were only allowed to create money line parlay bets. However, over the years, that has expanded to spreads, totals, props, and more, which has helped expand the overall betting market.
Offshore and illegal sports betting is still a huge factor in Canada, which be reduced greatly if legal single-game sports betting was allowed in the country.
Some of the most popular sports to bet on in Canada are:
- American Football
- Horse Racing
- Motor Racing
There is a great variety of sports you can bet in the country despite only bet parlays. The most popular sports to bet are ice hockey, curling, football, soccer, basketball, and horse racing.
Again, provinces do set their own sports betting laws that citizens need to abide by. Some of the regulations are the sports, and what betting markets are allowed in each province vary.
Horse racing is still holding on in Canada as the sport feels like it is beginning to slip. The horse racing industry is concerned that if single-game betting is legalized in Canada, no one will bet on horses as much as they do now.
Horse racing still has a chance to remain popular if Canadian lawmakers tweak single-game betting odds that favor other sports and horse racing.
Canada also has racinos and off-track betting sites that will continue to allow the horse racing industry to remain intact despite the fear of losing bettors.
The sports betting market could open up if single-game betting is available. Prop and futures markets could greatly expand as sportsbooks might not feel the burden of the potential liability that comes with parlaying bets in those markets. Also, Canada can add more sports into the mix, including popular U.S. college sports and other international markets.