Single-game Betting Could Revolutionize Canada’s Gambling

Lately, the talks surrounding the introduction of single-event betting in Canada have gained a lot of pace with backing from many gaming leaders across the state. And most recent passing of Bill C-218 made accelerated the process but it is still not official after the legalization has to go through several other levels of assessment by different authority organs.

According to expert’s calculations, the proposed step forward in sports betting will be able to significantly benefit the gaming industry in the country and will further strengthen North America’s markets. Additionally, the said change in betting rules is believed to attract more casual betters and bring a substantial amount of revenue in order to help the provinces in overcoming the current financial difficulties.

Major Backing

Numerous gaming leaders and regulators have joined in on the subject of the introduction in order to show their support for it. Bragg Gaming Group is one of the said factions that believes that the legalization of single-event betting will have a positive impact. CEO of the company Paul Godfrey stated that he is pleased with the passing of the bill which will help not only the Canadian economy but it will also create many jobs for the people.

Mr. Godfrey also explained how this change in the industry will also help contain unregulated online gambling sites since most players will prefer to gamble on a safer and officially regulated website. This will greatly help the local economy since players’ bets will not be channeled towards offshore websites abroad, and instead, the money will be invested in Canada’s infrastructure and local communities.

Support from Abroad

The United States-based gaming leader DraftKings is also a major fan of the single-game wagering introduction. CEO Jason Robins spoke on behalf of the company by claiming that DraftKings is excited about the prospect and such legalization will open up many opportunities in Canada. But they are still waiting on an official passing of the bill in all of its upcoming hearings.

According to Mr. Robins, there are still no concepts on how the new product will shape nor there is any idea when it will become reality. This is due to the Ontario’s government still working on the regulations. The provincial authorities have requested the Alcohol and Gaming Commission of Ontario to deal with private third-party online platforms.

i3 Interactive Says Go Ahead

I3 Interactive has also been one of the gaming regulators who believe that single-events wagering is the way forward for the industry’s evolution. President of the content supplier Chris Neville stated this bill comes a great time since its legalization will be able to generate plenty of additional revenue amidst the global financial crisis. According to him, this will be the right step for catching up with the competition since sports wagering is quite popular among fans.

Horse Racing Industry

After initial concerns over putting the horse racing industry in danger, leaders from the sectors have given their approval for the long-anticipated legalization. Recently, Ontario Horse Racing supported Woodbine Entertainment’s stance on the subject, but only if the brand-new regulations take into account the live harness racing field and work on protecting it from any non-intentional harm.

Source: “Single-Event Sports Betting Bill Could Make Way for More Global Markets”. Cision, February 26, 2021