(MENAFN- MENAFN.COM)
The Development of Laws
The world around us is one of interest and wonder, even down to its barebones framework of being split into different countries, with each country being formed due to tectonic plate pressure and as a result, creating civilizations with each one having its own rich and varied history and culture to boot.
Today we’ve become more and more interconnected, with the notion of international law and coalitions such as NATO and the EU being established. Apart from these coalitions and notions of international law, which must be followed by countries to a tee, we can also see how laws and their enforcement have changed and developed as time goes on.
We can see this through a number of different time periods, and through a number of different laws, and within this article, I will be going over one of the most well-known sectors within Canada, looking at its legal history, as well as making a few speculations in regards to what the future may hold for Canada, and the sports betting sector within it, what can be done, and what is being done at the moment, for the progression and benefit of the sports betting sector in Canada.
A Brief History of Sports Betting Within Canada
Today, sports betting in Canada is one of the most well-known and well-loved practices in the country, but things were much different back in the day. While today one can find some of the best sports betting sites in Canada with a few mouse clicks, hundred years ago betting was outlawed, and finding bookmakers were extremely difficult. Betting wasn’t dead, it was just in the hands of organized crime syndicates all around the country, who would illegally take bets on all sorts of sports.
This dangerous landscape of sports betting kept on in this vein for a number of years, until in 1969, the first laws allowing one to gamble within Canada were enacted, and the first laws allowing sports betting were also enacted in 1985. The biggest step towards the widespread legalization of sports betting within the region is when online casinos were introduced in the early 2000s, causing the government to begin their own online casinos, but make substantially less revenue than their independent competitors.
This led to a monumental step in regard to the sports betting landscape, that being the safe and regulated sports betting act of 2021, which rose from the ashes of the swatted-down Bill C-290, which was proposed in 2015. It was a bill that had a number of legal experts either excited, scratching their heads, or doubtful that this law would be effective. While recent, this sports betting law was monumental, and it essentially allowed for the legalization of single-game sports betting. This was huge within Canada and was a huge step forward in regard to the sports betting landscape within the region.
One region within Canada which heavily benefitted from this, and a region that made good use of this law, was Ontario. The region was the first, on the enactment of the Bill, to allow third-party operators such as UniBet, to operate within its territory, as well as starting an online gaming authority known as Igaming Ontario, as a way to regulate sports betting and gambling as they stand.
Some Steps Canada May Take for the Future in Regards to Sports Betting
When it comes to looking at the different ways in which the future may shape the Canadian sports betting sector, one ought to look at some of the newest, and most stable innovations, which are entering the sports betting and gambling market.
Third-Party Operators
The use of allowing third-party operators is one that has already been done in Ontario, and a number of other provinces are following suit in doing. Despite having their own government-backed sportsbooks, it’s an eventuality that people may go to offshore sportsbooks, so working with bigger sites and making a profit by letting said sports wagering sites operate is a smart move on Canada’s part overall.
Crypto Sportsbooks
One of the biggest innovations we’ve seen within the modern world, is the creation of the blockchain and cryptocurrency, as it offers an anonymous way for one to manage their finances safely and efficiently with a higher degree of control over their finances. Many sports book operators nowadays are making use of this new innovative way of managing one’s finances, and as a result, are benefitting from the numerous changes brought on by this type of currency.
Many have said that cryptocurrency is the way of the future, and in this regard, they would be right, as it currently undercuts a litany of hidden fees and charges and is an overall reliable way for one to make transactions.
Final Thoughts
In the modern world, we discover that we are surrounded by innovation and technology; in fact, our everyday lives are full of it, and it has a role in every aspect of our existence. This is because of the world in which we live. It should not come as a surprise that Canada and its sports betting industry are substantially benefiting from this facet of technological advancement since every part of our life is being impacted by this.
Our saving grace has always been innovation and our dedication to it, as human beings, and the sports betting sector in Canada is a prime example of our pride and effort in this sector, as with these innovations, we are shaping the future of an industry.
MENAFN29112022006471014394ID1105241507
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.