Canadian single-event sports betting is closer to becoming a reality

Canadian

The Safe and Regulated Sports Betting Act of 2021 (bill C-218), which still needs to be formally approved by the rest of the Parliament of Canada, received support from the country’s MPs.

A step closer

The steady progress toward single-game sports betting in Canada appears on track. In February 2021, the House of Commons, one of the three parts of the Canadian Parliament, approved bill C-218. To become a law, the bill needs to be formally approved by the rest of the parts of the Parliament. The latter is widely expected to pass due to overwhelming unilateral support from both the Liberals and Conservatives.

The bill comes at a time when Canada faces increased competition from the US that is currently paving the way for legalised sports betting in the country states by states.

A national legislation

The Act aims at regulating single-game betting on the national level, setting national precedence and federally approve single-game bet, and allow the provinces to implement necessary consumer safeguards to provide for a safe and responsible sports wagering environment.

Economic stimulus

After the pandemic, the revenue potential gambling that could be funnel into the Canadian economy was pointed out by the proponents for legalising single-game sports betting. It could create hundreds of employment opportunities and generate significant new tax revenue.

The Safe and Regulated Sports Betting Act is expected to be enacted this winter.