Canada’s sports betting future looking bright after C-218 passes the House of Commons
Canada moved closer to legalizing single-event sports wagering, with legislation passing the House of Commons and advancing to the Canadian Senate.
The House’s third debate and vote pushed forward the proposal, Bill C-218, that would amend the Criminal Code to allow provinces and territories to regulate online and in-person bets on individual sports events.
The Senate is scheduled to reconvene on May 4, but it may not address C-218 immediately. Canadian political process generally dictates that deals with government legislation come before private member's bills such as C-218.
As it stands today in Canada, the law is that most legal sports bets have to include at least two events — parlay wagering. The only exception is wagering on horse races, considered a single event.
The bill’s passage would bring major revenue to Canada – and prevent it from continuing to leak offshore.
According to the Canadian Gaming Association, approximately $14 billion per year in wagers from Canadians finds a home in offshore sportsbooks.
Deloitte Canada reported recently that, should Bill C-218 become law, Canadian sports betting could grow from $500 million to nearly $28 billion in legal-market wagering within five years.
More Articles You Might like
Latest on Betting News
Will Clemson be pushed in the ACC Atlantic Division after losing the likes of Trevor Lawrence and Travis Etienne? Don’t waste your money betting on or against the Tigers.