Canada sports betting just hit a crucial milestone. Bill C218 has passed the Senate and will become law in the country.
Following a lengthy legal process, single-event sports betting is on its way to Canada. The long-awaited move will out the country in a great position to offer end-to-end sports betting options to Canadians.
Prior to the passing of C218, Canada sports betting was limited to parlays. There were no moneylines, spreads, totals, or other single-game wagers. Similar to the way the US market works, Canada’s individual provinces still have to pass their own laws to build a sports betting framework.
The UPDATE you’ve been waiting for: Bill #C218 has officially passed in the Senate & will become law in the coming days. I’m honoured to have worked to make single-event sports betting legal in Canada. #cdnpoli #nlpoli @KevinWaugh_CPC @SenateCA
— Senator David Wells (@wellsdavid) June 22, 2021
Bringing Canada Sports Betting To The Forefront
Though sports betting in Canada was legal for quite some time, the lack of single-event wagering represented a significant gap in the country’s offering. Without highly desirable bets that are only available in a market that allows single-event wagering, the country lagged behind while many US markets legalized and began offering various types of bets.
The passage of this bill is significant thanks to the advent of single-event wagering in a massive market. If Ontario was a US state, it would be the fifth-largest in the country by population.
Sportsbook companies will undoubtedly be chomping at the bit to launch in Canada once all rules and regulations are set. Of them, Ontario-based theScore seems a likely contender for an early launch. But also keep an eye out for companies that have made a splash in the US, such as PointsBet, DraftKings, BetMGM, and FanDuel. Canada sports betting regulations will inevitably differ slightly from those in the US, but that likely won’t stop major operators from making a move to the north.
Also keep an eye out for previous grey market operators who may seek a legitimate license to operate in Canada. Because the country’s law prohibited single-even betting up until now, the market was flush with grey market and offshore sportsbooks. Thanks to the passage of C218, they could make a move to the lawful side and operate legally in Canada.