Canadian Sports Betting’s Final Push

Canada FlagGetting legalized single-game Canadian sports betting has been a painfully long and complicated process. However, things are finally starting to move forward again as the most promising bill, Bill C-218, was once again read in the Canadian Senate on Tuesday. This bill holds the power to legalize Canadian single-game wagering by changing the Criminal Code in Canada.

Now, a committee, specifically the Senate Standing Committee on Banking, Trade, and Commerce, will review and go over the bill. Once this has taken place, the committee will form an opinion, and the bill will be sent back for a third and final reading in the Senate. The Senate will then finally vote, and if passed, the bill heads back to the House to be voted on there.

Time Table For Canadian Sports Betting

Canadian single-game sports betting still seems extremely far away; however, the bill has come a long way. The Senate has a summer recess in 5 weeks, so the goal is to get the bill passed by that period and allow the House to vote on the redefined bill. If everything goes to plan and the House passes it, the Governor General’s office could put it into law by the start of July.

However, this is a very optimistic view, especially considering how slow the bill has moved through congress thus far. If the bill does not pass the Senate in the next five weeks or does not get passed by the House by the start of July, then the bill will have about a zero percent shot at passing this year.

If everything went to plan perfectly, Q1 of 2022 would be our best guess for online sports betting launches throughout Canada. Similar to the American market, each province needs to legalize its own set of laws if the Federal Government passes this bill. This means that sports betting will not instantly become available.

The Canadian Betting Market

Canada has been a hot topic of conversation with many companies, like DraftKings, referencing the betting market’s potential in earnings calls. It is safe to say that the giant sports betting companies in America are extremely excited about the prospect of another large betting market in North America.

The Score Sportsbook 150x150One of the largest Canadian sports betting brands, theScore, has been on top of the entire legal process in Canada. The CEO of the theScore, John Levy, recently tweeted out on Tuesday, “Senate Standing Committee on Banking, Trade, and Commer.””. Single-game betting would be very big for this Canadian sportsbook as it looks to start competing with the big dogs in the North American market. It is quite possible that due to its Canadian roots that theScore can establish a large foothold in the Canadian market.

The population of Canada is roughly on par with California, with nearly 40 million people. This has lead experts to propose similar sizes in respect to California and Canada’s betting market. Recent estimates range from $2-$5 billion in potential handle monthly. That kind of market would supply a significant boost to all North American operators.

Matthew is a UC Berkeley economic and philosophy graduate. He has played DFS, Football pools, and survival leagues for most of his adult life. Matthew brings to the table great strategies for both your GPP and Cash plays as well as a winning track record with his picks of the week.

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