July 18, 2019 — There is a quote attributed to Henry Ford that states, “Auto racing began 5 minutes after the second car was built.’’ There is no doubt that betting on that race began immediately after that second car was built.
The Canadian Gaming Association estimates that Canadians wager around $10 billion illegally every year on sports, with much of the money flowing to offshore online sports books. Canadians are spending a sizable amount of money illegally to bet on sports because they can make a single-game wager. Sports betting has been legal in Canada for over 30 years through government-regulated sports lottery products, but you have to bet a three-game parlay in most cases.
A recent study by Pollara of over 1,250 Canadians indicates that in the past year alone, almost one in five (18%) placed a bet on sports involving real money. A further 14% placed a wager online and 12% bet on fantasy sports online.
Ontario has the highest percentage of sports betting enthusiasts with one quarter (23%) placing a bet on sports and 16% betting on sports online. All other provinces also had substantial participation with between 12% to 15% betting on sports.
While the 40-year-old plus age group has sizable foothold on the traditional lottery and gaming market, sports betting is more likely a pastime of the 18-39-year-old group. Almost one third (32%) of the 30-39-year-old group has placed a bet on sports in the past year.
Betting money on the outcome of a single sports event is now legal in many U.S. states. Many other states have legislation pending or are looking into legalizing betting on the outcome of single game sporting events.
In Canada, bills to amend the law to allow single event sports betting have not made it to a vote in the Senate. Another push for a change to sports betting laws is likely eminent in light of the changes in the U.S.
That is why we have launched Sports Betting in Canada – the definitive study covering all aspects of sports betting in Canada. Our study will measure and track the size of the current and potential sports betting market covering both parlay and single events wagers. This study will look at the issues behind illegal sports betting and whether Canadians support legalizing single event sports wagering in Canada.
The study will explore current and potential sports betting behaviour, concerns with single event sports wagering, and how Canadians feel about the current landscape and a change to legislation. We will also explore the myths and truths about sports wagering, test the impact of a range of messages/information to frame legalization, and provide guidance on how best to position this policy in way that garners the highest levels of consumer and public support.
To subscribe to our study or learn more about the details, please see our prospectus.
