TheScore Bet app is one of Canada’s sports betting wonders, powered by the local leader Score Media and Gaming Inc. Conversation on the potential legalization of single-event sports wagering in Canada will end up introducing new players to the local gaming field, but the sports leader recently made it clear it is ready to face the competition.
There is one winning argument when it comes to the legalization of single-event sports betting within the borders of Canada. Regulated wagering on single sports events is going to retain CA$110 million annually within Canada’s borders. For quite a while, this notion has been circulating in the public space as soon as the conversation swerves in this direction. Score Media and Gaming has been a long-time supporter of the idea.
Single-Event Sports Betting Legalization
It could be recalled that a while back, Peter Curtis, a founding partner of Toronto-based Pathway Group made evident his desire to push Ottawa officials in this new direction by lobbying on behalf of theScore. In its current state, the legislation prohibiting single-event sports wagering renders Canada unable to be competitive in the North American gaming market.
The lack of legal single-event sports wagering tempts locals to place their bets on foreign gaming platforms and offshore sites, pouring their money in their pockets, instead of supporting the local communities and subsequently guaranteeing a better life for their children. Conversation on legal sports wagering that could make Canada a competitive gaming market and make it an equal rival of the US has been in progress for many years. Attempts at legalizing it have been made in the past, but to no avail.
Back in November, a private member Bill C-218 introduced by Conservative MP Kevin Waugh launched on a quest to make this offering legal. Efforts in this direction date back to 2011. David Cassidy, the president of Unifor Local 444, said that projections are that it could receive the ultimate approval of the Senate next year.
Canadian Operation
Score Media and Gaming recently witnessed its shares jump, marking a 111-percent surge at the end of the year. Chief executive officer John Levy and his son, Chief Operating Officer Benjie Levy, would work on a Canadian edition of their successful sports betting mobile application. It should be noted that the Toronto-based gaming leader already has a strong influence on the sports betting fields of the US.
The states of Colorado, Indiana, and New Jersey enjoy theScore Bet app and that has further boosted the Canadian media company. Some four million active users are able to benefit from the premium user-friendly online platform beloved by Ontario residents too. Projections are that they will enjoy the full package once it launches in Canada as well since their loyalty will drive them towards it.
This move is timed well, as New York State Governor Andrew Cuomo recently announced his support of mobile sports wagering in the state. New legislation will result in the New York State Gaming Commission issuing a request for proposals seeking a sports betting leader that could introduce the legalized offering in a safe manner. Such legalization could prompt action in Canada too.
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