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in Law - 13 May, 2021
by Curtis - no comments
Experts Say That Canada’s Proposed Sports Betting Law Can Protect People And Generate Taxation

Law experts like MyDefence.ca and sports marketing experts have weighed in on a recently passed bill by the House of Commons, stating that it’s good news, but that it’s a long-overdue change to Canada’s laws regarding sports betting.

The bill was passed by a private member of the House of Commons, which would legalize putting money on a single sports game. Currently, Canadians have to rely on offshore betting services in order to make bets on their favourite sporting events.

Vancouver sports marketing expert Tom Mayenknecht stated that the law is long overdue, due to the fact that it’s practically impossible to police people betting offshore. This law keeps money in Canada, both in where that money is spent and where it’s invested.

Brock University Assistant Professor of Sports Management Michael Naraine stated that Canada’s sports betting legislation, as noticed by legal experts like MyDefence.ca, is ancient and the new rules is similar to the changes that the government made for cannabis back in 2019.

Naraine stated that, it’s like with cannabis; the laws were changed not only to ensure government tax revenue, but also to educate the public on how to handle cannabis responsibility. The idea being to give people who are already doing the thing options, while providing support and education while also gaining tax profit.

The new sports betting law is still just a proposition, so people are speculating if the bill would pass and how sports betting would look in Canada should that bill pass. If the Senate passes the proposed legislation, Bill C-218, it would give the provinces and territories full jurisdiction over single-event betting.

Canadian Gaming Association President and CEO Paul Burns stated that each province and territory would handle things differently, with variation. For the industry, the bill would make for a more even field.

Annually, Canadians bet about $4bn via offshore sports books and an additional $10bn via Canadian organized crime operations.

Currently, they can only do that via offshore sites that aren’t well-regulated, which Burns reports leads to calls from people who have issues with getting their money properly processed.