Leading Canadian igaming companies have commended their government for its efforts to legalise single event sports betting.
Canada’s bill C-218 passed a second reading in the House of Commons on Wednesday and if finally passes it will grant provinces and territories in Canada the right to regulate single-event sports gambling.
It repeals a section of the country’s criminal code making wagering on a single sporting event illegal. It will now enter the last phase of its passage in which there will be hearings with the Justice Committee where further amendments may take place and will then go to the Senate and the governor general for royal assent.
Chris Neville, CEO of i3 Interactive, the online and mobile gaming platform, said: “It is a positive move for the igaming industry in Canada. In New Jersey alone $1bn of taxable income per month is being raised with the state receiving 16.5 per cent of this. With the recent pandemic and the state of the financial economy of Canada, this bill comes at the best time possible.
"Sports is a popular source of entertainment during the pandemic and allowing people to bet on their favourite sports team will add so much excitement fort he viewers. If the law is passed the citizens will no longer fear dealing with offshore books and getting their money paid out after successful wagers.”
Another major operator, Bragg Gaming Group, said through board member Paul Godfrey: “The overwhelming backing for the bill is a strong indication of Canadians’ overall support for the move to legalise single-event betting and a very positive step for both the legal gambling market and the overall economy.
“Not only will this bill ensure that profits from sports wagering go back into Canadian communities rather than illegal black-market channels, but it will also secure Canadian jobs and create a safer, more regulated environment for Canadians.”
