Legal single-bet sports betting is on the cards for Canada – but faces a race against time.
The Canadian Senate needs to pass Bill C-218 this spring or it could be another long wait for Canadians wishing to wager on sports. Impending Candian Federal elections could also lead to postponement or delays.
Legal Sports Betting in Canada Faces Race Against TimeThe newly amended Bill C-218, which legalizes single-game sports betting in the Canada, was unanimously passed in the House in March after a number of amendments.
While the bill sits in the Senate, senators have the chance to discuss the Bill before passing a vote in the chamber before reaching the bill is received by the committee.
This may be promising news to Canadian sportsbetting advocates – however similar NDP legislation gained traction a number of years ago – ultimately ending when an election was called in 2015.
Legal Sports Betting in Canada Faces Race Against Time– Senator David Wells.
“If a Canadian decides to bet on a match between the Leafs and the Canadians, I want that money to remain in Canada,”
The Canadian sportsbetting industry reportedly generated over $15 billion in sportsbetting revenues in 2020 according to the Canadian Gaming Association. However, only 3% ($450 million CAD) of that was done “legally”.
A recent report from Deloitte Canada estimated that the legal sports betting market in Canada could grow to be worth $28 billion in five years – should the C-218 single-bet sports betting legislation bill pass.
