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Is hockey betting gaining traction in Canada?
By Lana P
HometownHockey.ca

Is hockey betting gaining traction in Canada?

Hockey has been around for a very long time and it’s fair to say it’s a staple sport to watch in many households around the world. Canada has a long-standing history when it comes to hockey. Records suggest the first game was played in 1875, making it a tradition of over 140 years. Sporting events are no strangers to the betting world. In fact, it was estimated that over US$3 billion worth of legal bets were placed on sporting events in October 2020 alone.

PHOTO CREDIT - Getty Images


Toronto - Jul. 9, 2021:
Hockey has been around for a very long time and it’s fair to say it’s a staple sport to watch in many households around the world. Canada has a long-standing history when it comes to hockey. Records suggest the first game was played in 1875, making it a tradition of over 140 years. The game has developed over the years and arguably has become an ‘essential’ watch for many Canadians. In 2010, nearly 80% of the Canadian population tuned in to watch the final Olympic game. Now that’s some serious patriotic support! With Canada having won a total of 22 Olympic ice hockey medals, 13 of those gold, and the men’s team currently ranking world number one and the women’s team currently ranked 2nd, it’s not surprising Canadians want to support the game.

The Sports Betting Industry

Sporting events are no strangers to the betting world. In fact, it was estimated that over US$3 billion worth of legal bets were placed on sporting events in October 2020 alone. The digital revolution has catapulted online betting into a highly profitable industry, as users can now check games and place a bet with just a couple of clicks of a button. With so many of us carrying around smartphones and companies utilizing apps, it is possible to bet online incredibly easily.

This is all well and good in the US; however, there has been some uncertainty around betting in Canada. Technically, it’s still illegal for an online sportsbook to operate from Canada; however, residents are legally allowed to bet with offshore gambling sites. Sites such as Rizk allow Canadians to place online bets on their sportsbooks wherever they choose to watch their favorite games.

For decades Canadians have been attempting to change the sports betting laws. However, the opposition has occurred over fears of match-fixing damaging the integrity of the sport. Regardless, studies have shown Canadians have placed an estimated CAD$15 billion on sports betting in 2020 and this could rise to over CAD$30 billion in the next 5 years if laws are changed.

Variety of Possible Bets Thanks to the Game Complexity

Different sports have different set of available bets, with win-loss being the most popular in sports like soccer. But don’t be mistaken in thinking the only bet you can place on hockey is the final win or loss, typically known as the “Money Line” bet. Hockey games can often last from two and a half to three hours, which allows for a variety of bets to be placed. You can place Puck Line, Over/Under (goals scored), Parlay, Period, Future, and proposition bets on one game.

Having a bet on your team to win can undoubtedly bring a new level of excitement and thrill. This is supported by the fact that the global sports betting market is expected to grow by a compound annual growth rate of 10,1% by 2024, according to the Mordor Intelligence’s report. New technologies and trends are also expected to increase the availability and popularity of sports betting.


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Is hockey betting gaining traction in Canada?
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