Partnerships Between Canadian Sports Teams and Betting Companies

Sports betting companies have become widely accepted in Canadian society for years now, with a wide base of players and a clear regulatory landscape. This has led them to change their market strategies and to advertise their services directly in partnership with the sports teams.
This article will explore some of the most lucrative partnerships in the world of Canadian sports betting and how they've worked out for both the sports teams and the betting company. Chances are that partnerships such as these will only deepen and expand in the years to come.

Sports Betting Companies and Innovation

Sports betting companies in Canada were always among the first to accept innovation and to use the latest technology to provide the best service for their users. This is why the best crypto sports betting sites in Canada have been operational for years.

Almost all sports betting companies accept crypto as a payment method since it's safer, faster, and more secure than using fiat money. At the same time, the players and the teams preferred being associated with crypto as it was a trendy and innovative market to follow and join.

Point Bets and Maple Leaf Sports

Maple Leaf Sports owns Toronto Maple Leafs, Toronto Raptors, and Toronto FC, as well as many other teams. The company announced a huge deal with PointBets betting company in 2022. It was one of the biggest such arrangements in Canadian sports.

Experts praised the deal as it provided Point Bets with access to a huge group of fans associated with Maple Leaf Sports. The fan base stretches across different sports, teams, and age groups and is, therefore, a great match for Point Bets. The timing of the deal was also interesting since it was the first major one after Ontario started to open up to sports betting and to regulate it.

Proline + and NHL

Hockey is the most popular sport in Canada, and it has a huge fan base. It's no surprise that the NHL wanted to set up a lucrative, long-term deal with the most trusted betting company. Proline + suits that description because it's government-run and operated by the Ontario Lottery and Gaming Corporation (OLG).

It was an important partnership because it landed credence to both parties. It's noticeable that OLG started using the NHL logo and trademark in its advertising, and both companies promoted each other. Canada has regulations that allow government agencies to promote gambling only, and the NHL partnered with an agency trusted by its Canadian fans.

Canadian Football League and FanDuel

In 2023, Ontario allowed private betting operators to liberalize the betting market further. The Canadian Football League then started looking for a private partner for their betting services. It found one in FanDuel.

FanDuel puts a special emphasis on live betting and incorporating the League's database into its services, but it also provides future bets. The league market has long been established as it had loyal fans, but this was also a way for younger fans to have a more engaging experience since they are the best market for online betting.

Canadian Premier League and TonyBet

The Canadian Premier League has signed a deal with TonyBet, making it the official betting company in the national soccer league. In the last couple of years, the popularity of soccer has skyrocketed in Canada, and this deal benefits from it.

According to the deal, TonyBet will have a prominent place during the 28 official games of the season. They'll provide the news and analysis for players to make educated wagers. Additionally, TonyBet also sponsors the CPL's Predictor contest on canpl.ca/predictor and the Centre Circle app.

Tax and Cryptos

The deals we mentioned happen in an environment that's particularly well-suited to crypto betting. Canada was among the first countries in the world to accept and regulate the use of cryptocurrencies. It has a rich and tech-savvy population and an intense sports culture.

At the same time, governmental agencies have regulated tax policies for sports betting winnings made in crypto, as well as in fiat money. It allows the players to bet using a variety of betting companies, often based abroad, and easily withdraw their winnings while knowing how they'll be taxed.

To Sum Up

In conclusion, partnerships between Canadian sports teams and betting companies have proven to be a win-win for both sides. The sports teams gain significant revenue and fan engagement while betting companies benefit from wider exposure and a growing customer base.

As the market continues to embrace crypto and live betting, these partnerships are likely to evolve and deepen in the future. With a strong regulatory framework and the growing popularity of sports like soccer and football, Canada's betting industry is poised for further innovation and growth in the years ahead.