Canadian sports bettors are applauding their country’s lawmakers, with legalized, single-game sports wagering now on the immediate horizon.
Canada’s Parliament voted Wednesday to pass the Safe and Regulated Sports Betting Act. Bill C-218 passed its second reading in the House of Commons, 303-15, on Wednesday and will now be referred to the Commons justice committee for further study.
Widely expected to pass, the legislation is great news for iGaming companies such as Canada's Score Media and Gaming Inc. and FansUnite Entertainment Inc.
U.S. companies such as DraftKings, Penn National Gaming and Skillz Inc. are ready to capitalize, having already partnered with the Canadian Football League.
The bill now enters the final phase in hearings before moving to the senate and then to the Governor-General for “Royal Assent.”
Once signed, the supervision of the legislation moves to the provinces to decide on how they will offer sports betting to residents.
The earliest estimates say the single-game betting will be available by June, while more conservative estimates are for action to be underway in Canada before NFL kickoff in September.