FansUnite Entertainment cheers advancing legislation to legalize single-event sports betting in Canada

FansUnite Entertainment Inc (CSE:FANS) (OTCQB:FUNFF) (FRA:4UY) on Thursday applauded the advancing legislation to legalize single-event sports betting in Canada. 

The House of Commons on Wednesday passed Bill C-218 by a vote of 303-15.  

“The near-unanimous vote demonstrated the huge level of support from all parties for single-event sports wagering in Canada,” FansUnite said in a statement. 

READ: FansUnite Entertainment engages gaming law firm to pursue US licensing strategy

Known as The Safe and Regulated Sports Betting Act, the bill repeals a section of Canada’s criminal code, which makes wagering on a single sporting event illegal. The bill will now enter into the last phase of hearings with the Justice Committee before moving to the Senate and then to Governor-General for Royal Assent.

“We are pleased to see the overwhelming support of legalizing single event sports betting in Canada in the Canadian House of Commons this week as it represents a major milestone for the entire industry,” said Scott Burton, CEO of FansUnite. 

“With interest in legal sports betting growing in both Canada and the U.S., seeing a vote of 303-15 in a first vote in the House of Commons demonstrates the desire from several political parties to amend an outdated Canadian law.”

By providing a regulated and thorough framework for single sports betting in Canada, FansUnite said provincial jurisdictions will be in a better position to enable betting from consumers, while generating new forms of tax revenue from outside operators looking to expand into the Canadian gambling ecosystem.

“As a gaming operator in regulated jurisdictions, we have sports betting companies around the globe that are currently utilizing our technology to enable their growth,” Burton said. 

“With the advancement of Bill C-218, and our relationships with stakeholders here in Canada, we are in a favourable position to replicate our global gambling strategy and capture market share here on our own soil.”

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