Gambling ads in Canada are out of control. You cannot watch a sports event on television, any game, or even walk down a downtown street without seeing one, if not several, ads encouraging you to place money and wager on a sporting event.
00:05:04.720Barstool Sports is now just essentially a gambling company that happens to run several podcasts,
00:05:09.660which of course all encourage you to gamble more money.
00:05:12.360Whether it be on college football, basketball, golf, hockey, that seems to be their MO.
00:05:19.820And it's not just the big players in the podcasting industry either.
00:05:22.760Check out your local Toronto Blue Jays or Toronto Maple Leafs content creator.
00:05:27.800Small channels with a dedicated and loyal following, but are not, you know, earth-shattering in terms of the metrics.
00:05:34.560Even these podcasts are now sponsored by gambling companies.
00:05:38.640An Ipsos poll conducted at the beginning of 2023 found that 63% of Canadians agreed that there needs to be some limitation on the placement and frequency of gambling ads in the country.
00:05:52.360And in fact, this poll is quite interesting because it found that the 18 to 24-year-old cohort who responded to this Ipsos poll all agreed that the quality of gambling ads themselves are awful.
00:06:03.320Things in Ontario have changed only slightly when it comes to single-game online gambling.
00:06:08.140Starting in February, the Ontario government changed their advertising rules around sports gambling,
00:06:13.320which banned celebrities from engaging in these sports gambling ads because it would appeal to minors.
00:06:19.520Of course, one of the most egregious examples of this was when Canadian legend and icon Wayne Gretzky teamed up with Conor McDavid to shill for MGM, an American-owned sports gambling company.
00:06:30.480Wayne Gretzky debased his own legendary legacy by shilling for MGM on every single sporting event encouraging you to gamble.
00:06:38.760Well, the federal government legalized single-game sports betting in 2021, conveniently when everyone was in lockdown and stuck at home.
00:06:46.600I'm sure it has nothing to do with that, though.
00:06:48.080That legislation allowed provinces to then regulate their own industries.
00:06:52.820Ontario, under conservative Doug Ford, went full steam ahead with online sports gambling, licensing several online casinos and sports books to operate in the province.
00:07:03.540This is why you start to see all those foreign-owned bookies advertising in Ontario.
00:07:08.620Now, let's break down the latest numbers here.
00:07:10.640The first full year of legal online single-game sports betting in Ontario generated over $1.48 billion in revenue.
00:07:18.820Of that, the federal government got $238 million in revenue, the provincial government got $469 million in revenue,
00:07:26.820and municipalities got to split up $50 million.
00:07:30.420Ontario iGaming, the regulator for this industry, estimates that in the sixth year of this new industry,
00:07:36.680the federal government will see an increase of $647 million,
00:07:40.880the province will see an increase of $1.39 billion in revenue,
00:07:45.900and municipalities will see an increase of $115 million.
00:07:49.060Before 2021, single-game sports betting was prohibited.
00:07:53.880You were only allowed to bet on what's called parlays,
00:07:56.500essentially multiple games at once with the provincial government-regulated lottery system.
00:08:02.400Provincial governments, of course, were earning hundreds of millions of dollars off the lottery.
00:08:06.480In 1984, the federal government wanted a piece of the pie,
00:08:09.720so the federal government legalized sports wagering.
00:08:12.260However, the federal government pulled the plug on this experiment only six months later,
00:08:16.760and the reason as to why they did that speaks to the changing times that we are now living in.
00:08:22.340Of course, one of the reasons was that the provincial governments were taking the federal government to court
00:08:27.100over these new lotteries, essentially.
00:08:29.840The other reason was that sports teams didn't want to be involved in this at all.