The passage of Bill C-218 by the Canadian House of Commons on Thursday continued to attract reactions Friday from companies looking to tap Canada’s potentially lucrative sports betting market.
The legislation fundamentally changes the way sports betting takes place in Canada. Currently, bettors there are only allowed to place a wager on a series of sporting events as a parlay bet. C-218 decriminalizes making a wager on a single game or match.
The bill has moved to the Canadian Senate for reading and adoption. Next it would go to the Governor-General for Royal Assent. Final approval could come as soon as May.
Bragg Gaming Group, a B2B gaming technology provider, noted supporters of the legislation predict this change would move a large portion of the estimated $14 billion Canadian dollars bet on the black market to a regulated market.
“We are very supportive of the move toward the legalization of single-event sports betting,” Adam Arviv, CEO of Bragg Gaming (pictured), said in a statement. “Canadians have demonstrated overwhelming support for this update to the federal legislation and this was reflected in the strong cross-party backing for the bill. It is a strong step forward for the Canadian legal gambling market and a win for the Canadian economy. Progressing this bill to the Senate brings us a step closer to ensuring that the profits from Canadian gaming remain in the community, rather than leaking into illegal black-market channels.”
Bragg said it has stood alongside Canadian casinos and other online gaming operators who have expressed support for a change, adding the current restrictions “make it harder to compete” with their US and international counterparts.
“Bragg looks forward to and supports similar legislative updates at the provincial level, driven by the need to increase tourism and jobs, once the federal bill and Criminal Code amendment has passed,” the company said.
Real Luck Group Ltd., and its subsidiary companies doing business as Luckbox, a provider of licensed, real money esports betting, also hailed the passage of Bill C-218 Friday.
Real Luck Group is a member of the Canadian Gaming Association. The company holds a full license under the Online Gambling Regulation Act (OGRA), issued by the Isle of Man Gaming Supervision Commission.
Quentin Martin, CEO of Real Luck Group, said, “Canadian esports and sports fans are now on the cusp to being able to wager on their favorite events. In our view, legalization, regulation and working with responsible operators is the best means to keep fans safe and offer them the best possible experience. We know that esports is a large and growing market in Canada, and fans are demanding betting on matches. Luckbox’s proprietary award-winning platform is well positioned, offering wagering on 14 major esports as well as sports betting. We will be following the outcome of Bill C-218 very closely and look forward to Senate adoption in what are exciting times for fans of esports, sports and the online gaming industry in Canada.”
Luckbox offers esports wagering in more than 80 territories across the globe.
