A bill to lift the ban on single game sports betting Canada is on the next step.
The House of Commons accepted C-218 in the third reading Thursday Eve. The law would allow provincial governments to regulate sports betting in Canada.
“One thing I find attractive about this legislation is the fact that this activity is already taking place and an opportunity for the government to get involved and generate revenue if done legally,” the MP said Mark Gerretsen said before the third reading.
Canada’s sports betting law moves to the Senate
The bill now goes to them senate. Member of Parliament Brian mass said he worked with colleagues in the Senate and encouraged the rest of the House of Commons to do the same.
Bill sponsor Kevin Waugh praised his colleagues for the last months of work on the legislation:
“Since I brought it with me, this could turn out to be a historic day for our country. The passage of C-218 would be a clear indication that the elected representatives of the Canadian people believe this is in the best interests of all Canadians and hope that our Senate colleagues will be in a hurry to incorporate this legislation so that this outdated ban is finally over Can be deleted from the Canadian Criminal Code. It’s long gone since we did that. “
When the law goes into effect, regulation of sports betting in Canada would be done at the provincial level.
The C-218’s journey began in 2020
Waugh launched C-218 early as a bill for private members 2020.
The bill was introduced as government legislation in November 2020.
The second reading of the bill in February passed 303-15. Previously there was a competing sports betting bill, C-13, that was given up.
Canada betting landscape
Sports betting was legal in parts of Canada, but only through lottery games.
The nation generated an estimated $ 242 million in the 2019 Gross gaming revenue.
Sports betting made up for it however 1% this estimate.
How big could the sports betting market be?
There is an estimated one $ 14.5 billion CAD Bet on sports every year, but only $ 500 million is through provincial lotteries, according to which Canadian Gaming Association.
A February report from PricewaterhouseCoopers (PwC) explained the effects of single game betting. PwC estimates that the market could reach up to within two years of legalized single game play $ 2.4 billion CAD.
A Deloitte Canada Report recently estimated Canadians could legally bet up $ 28 billion within five years.
The most significant piece would be Ontario. Its population would make it the sixth largest state in the United States US.
Who is ready for Canada?
Perhaps best able to gain Canadian market share is Toronto-based The score.
It’s a top sports media company in Canada, so its brand awareness could help it outperform its mid-sized sports betting status in the US.
“This is our home,” said theScore President and COO Benjie Levy said during a recent call for winners. “Ontario is a home base and a huge user base. More importantly, we have a brand and legacy relationship with customers that goes back 20 years. We can’t wait to unleash the power of it when the market opens. “
Other operators interested in the Great White North
BetMGM CEO Adam Greenblatt acknowledged the significant opportunity and said that sports betting will be active.
DraftKings Earlier this year, the NFL’s daily fantasy sports contract was expanded to include Canada. The company’s DFS audience helped him become a top sports betting company in the United States.
Caesarswho has just completed their deal to acquire William Hillis working Caesars Windsor in Ontario.