There's monumental news coming out of Canada today as legislation to allow legal bets on single sporting events has cleared the Senate. As it currently stands, Canadians may only wager legally on sporting events if it's parlay betting.
In response to the tremendous news, BetMGM provided the following statement today:
Today, the Canadian Senate passed Bill C218, repealing a federal prohibition on the conduct and operation of single-event sports wagering. BetMGM applauds today’s parliamentary vote to allow provinces the opportunity to protect consumers, promote responsible gaming, and generate revenues by regulating and taxing single-event sports wagering.
With this change in federal law, we welcome the opportunity to collaborate with provincial governments, policymakers, and regulators in crafting policy that benefits taxpayers and provinces, while safeguarding the integrity of games. BetMGM also applauds ongoing efforts in the province of Ontario to establish a robust, competitive, and regulated online gaming market and looks forward to participating in the Ontario licensing process.
Today's exciting developments means a nation of nearly 38 million could soon have legal access to single-game sports betting whether it's the National Hockey League, Canadian Football League, the National Football League, and dozens more.
The ramifications could be incredible, as some professional firms like Deloitte Canada purport that sports betting could grow in the country from $500 million to $28 billion within five years of legalization.