The FIFA World Cup 2022 was a significant event for gambling, as the tournament saw a surge in engagement. According to leading providers, the competition, which lasted for a couple of weeks, recorded over $2 billion globally, with a notable 21% increase in gambling reported in Canada. The Canadian team may have exited in the group stages, but their performances generated a buzz among fans and helped increase wagering activity. With the 2026 edition set to be hosted jointly in North America, the rise of football betting sites in Canada is expected to continue.
Overview of Canada’s World Cup odds
During the competition, virtual gaming witnessed a significant rise on Canadian football betting sites. Canadians wagered millions of dollars on their national football team. Here’s an overview of the nation’s odds and patterns in December last year.
According to oddsmakers, the team was considered a long shot even to reach the final, let alone win it. They were ranked last in their group, behind Belgium, Croatia, and Morocco, and were given odds of 3.12 to qualify for the knockout stage. However, they did concede that there was a possibility of a group stage upset, with Canada possibly reaching the knockout stage.
The Team’s Given Odds of Advancing in the 2022 FIFA Cup.
|To win Group F
|To qualify for knockout
|To win the Cup
|To reach the semi final
|To reach the quarterfinal
|To reach the knockout stage
|Be highest-scoring team
|Be lowest-scoring team
In their first appearance since 1986, Canada put up a spirited fight against second-ranked Belgium, creating increased interest in Ontario’s legal sports-betting market. While many sportsbooks listed Belgium as the clear favorite, with a win paying out anywhere from -175 to -105, the Canadian team was listed at +475 to +280 for the win. Although the country had been eliminated after losing to Croatia, operators at the best football betting sites still saw increased game demand.
Betting patterns on Canada’s World Cup odds
Despite being considered highly unlikely to win, there were some interesting patterns. Their odds of advancing to the knockout stage were +310, 3.12, and 3/1, according to Caesars (USA), Sports Interaction (CA), and SkyBet (UK), respectively. These forecasts suggested that while the Canadian team was not expected to win, some gamblers believed they could pull off a surprise result in a game or two. That didn’t happen, though.
Factors contributing to the rise of online sports betting
The popularity of online wagering has been on the rise in recent years, and the Competition is expected to take this trend to new heights. Here are some factors that have contributed to the surge:
Technological advancements of betting platforms
One of the major factors contributing to the rise of football betting is the technological advancements of wagering platforms. For instance, Canadian betting sites for soccer listed at CasinosCanada.reviews use the latest technologies to enhance the gaming experience of their users. These include live streaming, in-play & mobile gambling, and virtual reality technology. Sites also make it easier for players to bet on sports from anywhere and at any time.
Influence of media and advertising
With the proliferation of online and social media platforms, there has been a significant increase in the number of advertisements for staking platforms. The constant exposure to these ads has normalized Canadian sports betting sites, making them more socially acceptable.
Teams and leagues have embraced gambling by partnering with online gaming platforms. Also, many popular sports websites and TV channels have integrated betting odds into their coverage. This makes it easier for fans to place wagers while watching their favorite games.
Celebrities who are avid sporting fans or have a large social media following are often used to promote gambling platforms. These endorsements serve as a means of gaining credibility and building trust with potential users. Also, celebrities like Jon Lovitz, Russell Peter, Wayne Gretzky, and Patrick J. Adams reach a wider audience and influence their followers to wager on various sporting events, including FIFA World Cup betting.
Legalization and regulation of sports betting in Canada
In 2018, the Supreme Court lifted the ban on gaming. This gave individual provinces the authority to regulate and license it within their jurisdiction. It created a legal framework for online gaming, making it safer and more secure for users. Additionally, the legalization of sports wagering has resulted in increased tax revenue for the government. It is a win-win situation for all parties involved.
Economic impact of online sports betting during the World Cup
The economic impact of virtual gambling during the competition was significant, both globally and locally. Here are some ways it contributed to the economy:
- Record-breaking betting handle: OpenBet reported over $2 billion in global gaming handle during the month-long competition, with a 21% increase in engagement in the nation alone. This translates to significant revenue generated for online sportsbooks and the wider economy.
- Job creation: The increase in activity created job opportunities in the industry. More people have been needed to handle the increased demand for gaming services, from customer service representatives to odds compilers and traders.
- Advertising revenue: Online sportsbooks spent heavily on advertising to attract new customers and retain existing ones. This has led to increased revenue for media outlets and advertising agencies.
Future prospects and challenges
The Cup was a major betting milestone, with the competition demonstrating the potential for notable economic growth in the industry. Looking ahead, the prospects are promising, but there are also several challenges that the industry must navigate.
One significant challenge is the market’s increasing competition. With more operators, there will be greater pressure to offer competitive odds and promotions to attract and retain customers. This could result in lower profit margins, especially for smaller firms. Despite the challenges, the future of online gaming remains bright. The upcoming 2026 World Cup, which will be hosted in Canada, the United States, and Mexico, is expected to be a major event for the industry, with billions of dollars in bets expected to be placed. As long as the industry subdues its challenges, there is significant potential for growth and success in the years ahead.