The Greater Niagara Chamber of Commerce (GNCC) supports the legalization of single-event sports betting and has actively lobbied for it since 2016. Today, the Government of Canada highlighted that this legislative change had received Royal Assent and would take effect on August 27, 2021, and the GNCC welcomed the news enthusiastically.

In 2016, the United Nations estimated that the global sports betting market was worth approximately $3 trillion USD, and that 90 percent of that activity was illegal. The GNCC believes that this economic activity would serve the public interest far better if it could be regulated and taxed, and if revenues went to legitimate businesses instead of organized crime.

“We believe that business can be the driving force behind prosperity and the well-being of the community,” said Mishka Balsom, CEO of the GNCC. “This legislation paves the way for socially responsible businesses to operate in this space. We hope that the economic activity of single-wager betting will now be used to build our legitimate economy.”

The Government of Canada has opened the door for the provinces to conduct and manage single event sports betting in their jurisdictions. The GNCC encourages the Government of Ontario to act on this and to introduce legislation that will unlock growth for the entertainment industry in a responsible manner.

The Greater Niagara Chamber of Commerce is the voice of business in Niagara, the largest business organization in the region and the second-largest Chamber of Commerce in Ontario, with 1,500 members representing 50,000 employees. More information on the GNCC is available at gncc.ca.

Contact:

Mishka Balsom, CEO of GNCC
Mishka@gncc.ca or 905-684-2361