Canada’s sports betting law breaks 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 Canada Sports Betting Canada
The advancement of the Senate was a welcome move as stakeholders began to question whether the law to legalize sports betting in Canada had lost momentum.
Invoice Sponsor Kevin Waugh said over the weekend it was only a 50/50 offer.
Waugh said the bill needed to be passed by lawmakers June or it wouldn’t go away 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 holds a third reading and then votes. If the law is approved, it goes back to the House of Representatives for re-approval, then to that Governor General‘s office for Royal Assent.
However, the Senate has around five weeks of possible session days before its summer break. This could worsen the situation, especially if changes are made to C-218.
Although there are still a few steps to be taken, the stakeholders cast an optimistic light on developments on Tuesday.
“Get closer to the goal line, ”tweeted The score CEO John Levy.
Levy added in a statement:
“Subsequent committee we are optimistic that Bill C-218 will be passed swiftly in the third reading in the Senate, receive royal approval and become law.”
What are the options for sports betting in Canada?
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 them are sports betting. A large market also assumes that the provinces will allow for a truly open Canadian sports betting market.
Just Ontario has announced it so far. Other provinces could choose to maintain a lottery monopoly on sports betting.
For example the British Columbia Lottery Company (BCLC) issued a statement Tuesday calling on the Senate to speed up C-218.
BCLC managing director Lynda Cavanaugh said, “Legalized single event sports betting would help BCLC move the game from unregulated sites to [its own site] PlayNow.com. “