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Top Ten Things To Know About NBA Permitting Wagering on Games In Ontario

23 Oct Posted by in Opinion | Comments

Here are the top 10 things you need to know about wagering on NBA games in Ontario now that it is permitted:
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1: Changing course after two decades, the National basketball Association is now permitting Ontario Lottery and Gaming Corporation to incorporate the league into its Pro-Line sports lottery. The Lottery and Gaming Corporation hopes to realize up to $10 million in revenue for the taxpayers of Ontario.
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2: In a statement released by Ontario lottery and Gaming Corporation Chief Operating Officer Greg McKenzie commented, “Coming off NBA all-star 2016 in Toronto and the Raptors’ most successful season in franchise history, the popularity of the NBA in Canada is at an all-time high.
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3: Individuals can place bets, beginning October 25, when the 2016-2017 NBA regular season opens. The Raptors season starts October 26, when they play host to the Detroit Pistons, at the Air Canada Centre. The next night they take on the defending NBA Champion Cleveland Cavaliers and Le Bron James.
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4: The National Basketball Association has a hard line stance against gambling, dating back to the early 1990’s. It cites issues with gambling allowed on Pro-Line, even before the Toronto was awarded a professional basketball franchise.
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5: The province raised issues about ceasing wagering, which was a windfall for taxpayers, in terms of millions of dollars. Only after intense negotiations with the NBA and acknowledging that the professional team would benefit the local economy through gains in job opportunities and tax revenue. The league and the community agreed that to offset potential lost revenues then, the Raptors would support and sustain youth basketball leagues.
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6: Over the past 20 years, the NBA maintained its stance towards objecting to Ontario gambling, but according to Ontario Lottery and Gaming spokesman Tony Bitonti, “since then the NBA has modified its stance providing it’s legal, regulated and monitored guidance with sports wagering.
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7: National Basketball Association Commissioner Adam Silver, in a statement, commented,
“the NBA supports legalized sports betting provided the integrity of the game is protected under a regulatory framework,” said NBA commissioner Adam Silver. “The addition of our games on the Ontario Lottery and Gaming Pro-Line is consistent with the NBA being included in the other Canadian provincial lotteries.
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8: Income generated from other professional leagues showed that Major League Baseball generated $68.6 million, the National Hockey League registering $63.4 million, NCAA College Basketball producing $37.8 million, FIFA soccer at $25.2 million and NCAA College Football college football netting $11.5 million.
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9: The loosing of the grip hold the NBA has had on Ontario couldn’t have come at a better time for the Ontario Lottery and Gaming Commission and Ontario taxpayers, as revenues have dropped immensely over the past few years. Wagering on NBA contests will generate up to million to $40 million annually, gaming officials anticipate.
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10: It is hoped that wagering on NBA games will draw bettors from online wagering sites such as Fan Duel. The NBA signed an agreement with FanDuel in 2014.
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