Side hustles in Toronto tied to FIFA 2026 could be a risk, as are fraud scams
· Toronto Sun
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Like with any major event in Toronto, a major influx of visitors can be expected in the city.
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So with FIFA World Cup 2026 right around the corner, it’s understandable that Toronto residents and businesses are looking for ways to capitalize on the crowd and make some extra cash.
Great reward, great risk?
“For businesses, the opportunity is similar to any major event coming to the city, with bars, restaurants, and retailers looking to engage with increased foot traffic and demand,” Josie Van Ryswyck, a senior underwriter with Markel Insurance, told the Toronto Sun .
“With that comes a range of risks to consider, and commercially licensed brokers play a key role in helping small business owners put appropriate risk management strategies in place,” she noted.
“For example, host liquor liability is a critical consideration for establishments selling or serving alcohol,” Van Ryswyck explained. “Businesses should also be mindful of everyday exposures such as slips, trips, and falls, ensuring their spaces remain safe for both customers and employees during what is likely to be a busy period.”
Home is what you make it
There are those who are considering renting out spaces, such as spare rooms or condos, but with that comes possible pitfalls, particularly for those who have never done anything like that before and aren’t necessarily aware of what having a short-term rentals could mean.
“For those looking to take advantage of this income opportunity with FIFA coming to town, it is important to check your municipal bylaws on running an Airbnb,” Kelly Ho, financial planner and partner at DLD Financial Group, explained to the Sun .
“Non-compliance will result in significant fines.”
On a more practical front, “owners will need to consider cleaning services and ensuring a positive guest experience,” Ho pointed out, adding that people need to think how it will impact their own lives.
“Consider the routines you must shift at home to accommodate paying guests and most importantly, what your time is worth,” Ho added. “Will you take on all the extra tasks or hire outside help and then calculate your anticipated net profit after considering all the above?”
Here come the bad guys
There are other ways people will be working to cash in on one of the biggest events Toronto has ever seen — but in much more unsavoury ways.
If you recall the disruption attempts at past Olympic Games, the FIFA World Cup is no different and there are scams and fraud and even cyber issues people need to watch out for.
“High-profile events and a tourism surge create ideal conditions for familiar fraud and cybercrime,” Ed Rawe, cyber, tech and fintech lead at Markel Canada, said.
“The complexity of FIFA, spanning multiple sectors and geographies, creates a wide attack surface for a diverse range of threat groups with differing objectives — from petty cybercrime tied to ticketing or travel, to payment diversion and vendor impersonation, to nation-state and hacktivist groups looking to create widespread disruption and political challenge,” Rawe detailed.
There are also ransomware groups “looking to monetize data and downtime,” he added.
“The tournament’s reliance on digital ticketing, cloud infrastructure, and broadcasting systems across multiple stadiums in three countries creates high-value targets where the pressure to restore service may increase the willingness to pay.”
Toronto’s BMO Field is set to host five group-stage matches and one round of 32 knockout game, the first being on June 12 featuring Group B’s Canada and Bosnia and Herzegovina.
Other matches include Ghana vs. Panama (Group L) on June 17, Germany vs. Cote d’Ivoire (Group E) on June 20, Croatia vs. Panama (Group L) on June 23, Senegal vs. Iraq (Group I) on June 26 and the round of 32 match featuring Group K vs. Group L on July 2.