TORONTO -- Canada’s move to legalize single-game sports betting could have a significant financial benefit by keeping the approximately $4 billion per year that Canadians spend on offshore ‘grey market’ betting within the country, says the federal justice minister.
“It's a matter that's particularly important for border economies like Niagara, like Windsor for example, where people could just go across the border and place bets on the Super Bowl or on Grey Cup or even on a World Cup soccer game,” Justice Minister David Lametti told CTV’s Your Morning on Friday.
“So we're making that available to Canadians by legalizing it, regularising it, and making sure that the money stays in the legitimate part of the economy.”
He said the money will go into provincial coffers, and that he hopes provinces will use some of the proceeds to fund programs for people with addictions.
The legislation received royal assent in June, and is set to be enacted on Aug. 27.
