Single-game gambling in Canada is a boon for sports betting sites but government documents show it created uncertainty for the country’s horse racing sector at a financially sensitive time, especially the federal regulator of pari-mutuel wagering.
These have long been concerns for the industry. But the sector now faces newer, more direct competition for the gambling dollars on which it relies: legal sports betting. , when legislation passed in Ottawa decriminalized single-game wagering, freeing the provinces from the parlay-heavy model they previously had to offer. Two years later, it looks like the horse-racing sector and the CPMA have yet to determine what exactly that means for them. Not much has changed since.
"Provinces expect new betting products to generate more income but unclear on how much and no new funds currently earmarked to support horse racing," states a slide from an older CPMA document obtained by Covers, titled"Strategic Planning 2021." . “The objective of the CPMA is to run a zero balance, if you will, where expenses equal revenues each year. We've been fairly successful at doing that in the last number of years, but it's becoming increasingly difficult.”At the time of Foss’ testimony, it was unclear if horse racing would be part of the single-game legislation, but it was ultimately excluded. Since then, Canada has legalized single-game sports betting and Ontario launched a competitive iGaming market.
Compounding the problem is the"grey" market for online gambling that existed meant Ontarians were previously betting on horse racing at sites not regulated by the province, an offering some operators then ceased when they accepted Ontario-based oversight. Addressing grey-market gambling was a key driver behind legalizing single-game wagering and the launch of Ontario's competitive iGaming market.
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