How sports gambling changes now that it's fully legal in Ontario

This is an excerpt from The Buzzer, which is CBC Sports' daily email newsletter. Stay up to speed on what's happening in sports by subscribing here.

Think this is the year the Toronto Maple Leafs finally end their Stanley Cup drought? Have an inkling that North Carolina will upset Kansas in tonight's men's March Madness final? Got your eye on Canada's Corey Conners to win The Masters?

If you live in Ontario, then congratulations — starting today, you can legally put your money where your mouth is.

As Ontario becomes the first province to expand its sports betting market, here's what you should know:

Wait, wasn't sports betting already legal?

Prior to the passing of Bill C-218 last June, the only legal type of sports betting in Canada was through parlays (bets where you pick multiple results which all must hit in order to win) and horse racing.

Bill C-218 changed that, removing the federal ban on sports betting and paving the path for more types of gambling to be allowed, like futures (e.g. a Stanley Cup bet placed at the beginning of the season) and single-game betting (e.g. the Leafs to beat the Lightning tonight).

Ontario is the first province to launch its regulated sports betting program, with multiple sportsbooks officially opening for business today. With a population of around 14.57 million people, Ontario is expected to generate $800 million in gross revenue from sports betting this year — hardly a gamble for the provincial government.

The U.S. passed a similar bill in 2018, and 30 states now host legal sports betting.

This doesn't seem like it changes much for me.

Then you were probably already betting in what's known as the grey market, with an online sportsbook based offshore. You may also be placing bets in