Canada Sports Betting Bill clears another hurdle, but time is short
Canada Single game sports betting continued their marathon journey through the legislature on Tuesday.
Invoice C-218 was read in the Canadian Senate on Tuesday evening and successfully referenced Standing Committee on Banking, Commerce and Industry of the Senate.
Legislation would change that Canada Criminal Code to enable bets on individual events. Only parlays are currently allowed.
Good news for sports betting in Canada
The progression of the Senate was a welcome development as stakeholders began to question whether the bill to legalize sports betting in Canada had lost momentum.
Bill sponsor Kevin Waugh said over the weekend It was just a 50/50 suggestion.
Waugh said the bill had to come through the legislature June otherwise it wouldn’t happen this year.
What’s Next for Bill C-218?
The committee is now conducting a review of the bill and reporting to the rest of the Senate.
The Senate does a third reading and then votes. If the legislation is approved, it goes back to the House for re-approval, then to the Governor GeneralRoyal Consent Office.
However, the Senate has around five weeks of possible session days before its summer break. That could get tight, especially if there are changes to C-218.
Although there are still a few steps to be taken, the stakeholders cast the development in an optimistic light on Tuesday.
“Closer to the goal line, ”he tweeted The score CEO John Levy.
Levy added in a statement:
“According to the committee, we are optimistic that Bill C-218 will pass swiftly in third reading in the Senate, get royal approval and become law.”
What is the chance for Canadian sports betting?
TheScore estimates that online gaming revenue in Canada could reach between $ 3.8 billion and $ 5.4 billion annually.
Of course, only about half of that is sports betting. A large market also expects the provinces to allow for a truly open Canadian sports betting market.
Just Ontario has indicated it so far. Other provinces could choose to maintain a lottery monopoly on sports betting.
For example the British Columbia Lottery Corporation ((BCLC) issued a statement Tuesday calling on the Senate to expedite C-218.
BCLC Chief Exec Lynda Cavanaugh said, “Legalized sports betting for one-off events would help BCLC move the game from unregulated sites to [its own site] PlayNow.com. “