An expense that legalizes single-game sports betting in Canada has passed the 2nd reading in the Senate. Costs C-218 has now been described by the Senate Committee on Banking, Trade, and Commerce.
The procedure will go through further study as members of the committee think about potential modifications. The committee will then report back to the Senate before the last and 3rd reading of the bill.
Bill C-218, which looks to end the restriction on single-game bets, has received bipartisan support in the nation. The legislation would allow Canadian provinces to use all sorts of sports betting markets. The only exception is horse racing, as gaming house operators can already accept single-event bets.
The bill currently got a passage from the House of Commons in April before moving to the Senate. If the cost gets a whole ride, it will need Royal Assent before ending up being law.
Senator David Wells, the Senate sponsor of C-218, is unsure about the costs’ chances of ultimately getting whole passage. He mentioned: “If it does not pass, it will not be because people do not support it. It will be because the process (sic) can get in the way.”
If it gets called, then that would spell the end of the costs. The Senate will also be taking a summertime break between June 26 and September 20.
The British Columbia Lottery Game Corporation (BCLC) has called upon the Senate to prioritize the expense and approve it before the summertime recess. BCLC President and CEO Lynda Cavanaugh said: “Costs C-218 will provide BCLC with the ability to deliver safe, legal, and controlled sports betting options to our gamers and– most notably– in such a way that focuses on the health of our players.”
Some sports wagering operators have already been getting ready for the possible legalization of single-game sports betting in Canada. Among them are the Toronto-based Rating Media and Video Gaming Inc., the business behind a popular sports media app that caters mainly to a North American audience.
The operator has also launched online sportsbooks in the US market through the theScore brand name. These platforms presently reside in New Jersey, Iowa, Indiana, and Colorado.
Rating Media and Gaming CEO John Levy stated on Tuesday night relating to C-218’s most current progress. He described the bill as being one step closer to becoming a reality after the Senate embraced it following a second reading.
Annual gross gaming revenue for online legal gaming in Canada could reach between US$ 3.8 bn and US$ 5.4 bn.
Levy stated: “The following committee, we are optimistic that Expense C-218 will be quickly passed at third reading in the Senate, get Royal Assent and become law.” Rating believes that annual gross gaming income for online legal gaming in Canada could reach between US$ 3.8 bn and US$ 5.4 bn.
Other organizations that support C-218 include the NBA, the NHL, and the PGA Tour.