Operators Anticipate Sports Betting Gold Rush in Canada

“Ontario, it’s happening. See you soon.”

That’s the new billboard by theScore in Toronto celebrating the looming legalization of sports betting in Canada. 

The Senate of Canada passed a bill on Tuesday permitting each province to approve single-game wagering. Prior to the 57-20 vote, Canadian citizens were only allowed to bet on sports through multi-leg parlays. 

With sports betting online by the fall, companies like theScore — which operates the country’s leading mobile sports media app — and DraftKings are expecting the biggest gold rush since the Klondike.

Canada boasts a population of nearly 38 million, as well as seven NHL teams, the NBA’s Toronto Raptors, MLB’s Toronto Blue Jays, and the Canadian Football League. 

“Fired-up is an understatement for how awesome an opportunity this now is in Ontario,” said Aubrey Levy, vice president of content and marketing for Toronto-based Score Media and Gaming. 

• Online gaming in Canada could generate between $4.3 billion and $5.4 billion in annual gross gaming revenue, estimates theScore.
• Ontario, the country’s most populous province, is viewed as the “crown jewel” of a legalized Canadian sports betting market. The province alone could generate up to $2.1 billion in revenue. 
• With a population of 14.7 million, Ontario would rank as the fifth-largest U.S. state, behind California, Texas, Florida, and New York but ahead of Pennsylvania and Illinois.

Not surprisingly, the NHL generates the country’s largest betting handle, according to Levy: “Betting behavior tends to parallel media consumption. And in Canada, hockey is absolutely huge.”