Broadening prediction-market gambling a bad idea
Let’s make a prediction: sooner or later, when Canadian governments find a way to take their own cut of the action, prediction-contract gambling on everything from sports to entertainment to […]
Canadian prediction-market gambling could become widespread, if Canadian governments permit it. A one-year subscription to such a market costs $205.00 + GST, which automatically renews at $233.00 + GST every 52 weeks, offering a 10% discount compared to the regular annual price of $259.35. Canadians may soon have the opportunity to gamble on sports, entertainment and political outcomes, mirroring the American model of prediction markets.
However, most individuals participating in prediction markets are unlikely to profit, as the house always retains a better position through regular fees and a steady revenue stream. The government should exercise caution, considering the potential harm of enabling gambling addiction, especially with the rise of legalized sports betting already prevalent in Canada.
Written by urgent.news from Winnipeg Free Press's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
