With sports betting on the rise, the whole world, and especially the United States, is examining whether betting could be legalized in sports. The gambling industry is growing astronomically and the sports betting fever has spread like a wildfire. As a result, many countries have already started making plans for legalized sports betting.
Despite the strict regulations on online gambling, Canada has slowly started to make headway. For quite some time, online sports betting is booming thanks to a legal grey area and lax official oversight. In Canada, online gambling is legal only if the service provider is licensed or owned by a provincial government. However, it appeared that it is simple enough to evade the government’s restrictions and to offer gambling services to Canadians even if the company is not licensed by the government.
In fact, a number of offshore gaming sites accept bets from Canadians players. In that sense, the online gambling industry in Canada is said to operate in “grey area”. Illegal gambling is more harmful than legal wagering. That is the reason why Canada has started to soften its stance on the matter.
In a rare bit of good news for the sports betting fans, it was reported that the world’s most popular football stock market, Football INDEX, is expanding sports betting in Sweden and Canada. The sports fans will be able to buy and sell real money shares in the world’s top professional footballers.
Football Trading is Comparable to Gambling
Football fans can use their knowledge in football to make money with it. They will be able to invest in more than 2,000 footballers, including footballers from the English Premier League, UEFA Champions League, and UEFA Europa League. Speaking of the latest announcement, Adam Cole, Founder and CEO of Football INDEX explained that the football stock market has chosen to expand in the Canadian and Swedish market because the two nations have “strong sporting heritage and English is widely spoken”.
To make it clearer, football fans will invest in players investing in football stock market resembles gambling as players should count on their skills, knowledge, and luck. Football INDEX includes features of a financial and football product at the same time. Football, in fact, is world’s most popular sports and the new betting option is expected to trigger great interest among the football fans. Currently, Football INDEX is well-established on the English market with over 100,000 football traders.
Sports betting is already a pretty big business and it is growing fast. The football stock market is to provide legal sports betting options for football fans across Canada and Sweden. Industry experts are impatient to see what will be the results of the Canadian-Swedish venture.