Gaming leaders and regulators have rejoiced after recent events concerning the industry, with the news that Bill C-218 has successfully passed the House of Commons. If the bill is officially legalized, this will mean that Canadians will be finally able to place bets on a single game, which is something that they have desired for a long time.
The approval of the bill brings Canada a step closer to the full legalization of single sports betting. Gaming leaders such as Bragg Gaming Group and i3 Interactive were quick to express their delight over the approval. The introduction will provide the country will an even greater variety in terms of betting opportunities, and many believe that it will finally be able to compete with foreign markets.
Bragg Gaming Group cemented its stance on the matter after the company’s executives engaged on the topic on February 18, 2021. Board member Paul Godfrey praised the huge backing that the bill has received and is positive that this will be a huge step forward for the gambling industry and the economy. Providing many job positions for Canadian citizens and securing a better gambling environment for players who previously made such bets on illegal websites.
CEO of the corporation Adam Arviv also joined in on the topic, by praising the approval of the bill, and also stated that this will allow the country’s gaming market to further evolve. Meaning that the country will finally be able to keep up with the fierce competition, but most importantly will drive players off of unregulated online platforms.
i3 Interactive was also happy with the results of the second hearing of the bill which turned out to be successful on February 17, 2021. It seems more and more likely that a new chapter is ahead of the gambling industry for the country. But before being official the bill must go through the last phase of hearings in the Justice Committee, and then eventually approved by the Senate and the Governor General for Royal Assent.
Chris Neville, CEO of the gaming content provider expressed the company’s excitement over the major support that the has bill received. According to Mr. Neville, the approval comes at a great time considering the financial difficulties of the state. And he is hopeful that this change will prove to be a great step in the right direction for the gaming sector since sports betting is quite popular among fans.
Frustration over Single-game Betting
Canadians inability to place wagers on single events saw them missing out on the Super Bowl action yet again, leading to some discontent among gambling enthusiasts. However, players are not the only ones hurt by the problem, with the economy suffering too due to many gamblers pouring millions of dollars into offshore websites or even traveling south to the US to place a few bets. The ban of single-game betting is yet to be uplifted despite major support in the country.
BCLC’s Says Yes
The British Columbia Lottery Corporation did not remain silent on the subject and even urged the government to take the step. According to the Crown agency, the introduction of single-betting will benefit many parties, by bringing new players to the scene and providing a substantial amount of additional revenue. Given the current state of the world, revenue will be more than useful for the economy.
Source: “Bragg Commends Successful Vote on Bill C-218 to Legalize Single-Event Sports Betting”, Global Newswire, February 18, 2021