FansUnite Entertainment Inc (CSE:FANS) (OTCQX:FUNFF) is applauding the Senate’s passage of Bill C-218, which would make betting on single games of football, hockey, and other sports legal in Canada.
Also known as The Safe and Regulated Sports Betting Act, the legislation now awaits royal assent to become law.
“Today marks a historic milestone in the global gambling industry as Canada has taken a pivotal step forward in legalizing single-event sports betting,” said CEO Scott Burton in a statement. ”The legalization of this bill will provide the Canadian economy access to additional employment opportunities, tax revenue, and a safe and regulated platform for betting options.”
READ: FansUnite Entertainment in licensing deal with Money Line Sports to launch online sports betting portal MoneyLineSports.tv
Burton added: “As a multinational i-gaming company, we have successfully launched brands and licensed our B2B technology in several jurisdictions, including Latin American and Europe. This bill’s passing positions FansUnite to play a foundational role in the development of Canadian single sports betting and help shape the Canadian sports betting marketplace. We are ready, eager, and well positioned to continue our successful global expansion strategy right here on our own home soil.”
Currently, Canadians can only legally bet on horse racing. Proponents hope that Canada can win back customers from offshore sites, US casinos, and illegal bookmakers.
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