Sports Betting in the US Versus Canada
Gambling has a long and drawn out history across the world, although in both the US and Canada, that history is a little more complex than others. As the popularity of gambling has risen, the demand for more flexibility on the laws of sports betting has also risen. But what’s the current situation in the US and how does that compare to its neighbour, Canada?
Gambling regulations
Well, for starters, despite some tight regulations, gambling is one of the most popular activities on Canadian soil. With plenty of both physical and online options available to aid you in your pursuit to bet, there’s something for everyone.
Canada has experienced a rollercoaster of developments with regards to their gambling and sports betting regulations. From the ban of all gambling through to allowing bingo and raffles (as long as they were for charitable purposes) to the introduction of horse racing bets and beyond.
Today, Canada has a lot to offer, including sports betting. However, sports betting is governed by the federal government and the 10 provincial governments: Alberta, British Columbia, Manitoba, New Brunswick, Newfoundland, Labrador, Nova Scotia, Ontario, Prince Edward Island, Quebec and Saskatchewan.
Canada has also introduced online sportsbooks, of which there are many, to manage said sports bets within each province.
Sports betting
Additionally, as a lot of sports betting websites are run from outside of the country, it’s important to find one you can trust. This is especially true when it comes to making payments. Always be on the lookout for the specific payment type that a casino is associated with. These could include anything from credit cards to bitcoins and are a useful sign of how trustworthy the platform is.
As a general rule, most land-based casinos will not accept sports bets. However, if you are a Canadian who fancies doing sports betting in person, you’re in luck. There is one casino in Toronto that will allow you to do so.
Over in the US, due to a recent victory in New Jersey against the Supreme Court, more and more states have been pushing for and heading towards betting reform. Now, thanks to New Jersey, any state that wishes to can use their ability to legalise sports betting, including football, basketball, baseball and others.
Since then, 11 more states have followed suit and legalised the activity. But there are still many more to go. Another thing to be aware of is that each state has taken its own unique approach to the authorisation, regulation and taxation of these activities. So, if you’re heading to a particular state, do your research before you step in a casino.
What about taxes?
In the US, taxes are typically paid on GGR (Gross Gambling Revenue). This is what’s left after you’ve accounted for wins and other eligible expenses. Much like in Canada, this can have a huge impact on how appealing the bets are with less favourable odds and bonus offers.
This is a crucial time for the US in terms of sports betting and one where there is still a fair amount of caution and confusion around. With that in mind, it’s crucial to be aware of what state allows which type of betting and where. Some favour internet gambling, whilst others are not favourable towards this at all.
Overall, however, this is great news for students. With many recalling tales of having to drive over the border to place a bet, those days are looking to be in the past very soon.
