What is it?
Last week the Minister of Justice and Attorney General, David Lametti announced the introduction of proposed legislative amendments to Canada’s Criminal Code that would permit provinces and territories to regulate and license single event sport betting on any sporting event except horse racing.
In a bid to take illegal betting profits out of the hands of organised crime, the amendments offer Canadians an opportunity to place bets in a regulated environment either online or in physical facilities.
Proactive’s Steve Darling has interviewed FansUnite Entertainment President, Darius Eghdami, as he responds to the announcement.
Who is it?
Steve Darling, Senior Broadcast Journalist, Proactive Investors
Darius Eghdami, President, FansUnite Entertainment
What is being said?
Asked about legislation changes potentially happening in Canada around single event sports betting, Darius Eghdami noted: “It’s a big step for a Canadian company for Canada to open up single events so hopefully that does happen. Really it’s just a step in the right direction, the next big step here for Canada and Ontario is now discussing it, is to allow operators outside the provincia to actually start taking bets as well.
“Right now you have to bet through the provincial lottery firms. What Ontario is talking about on bringing outside operators in and that’s where that’s going to be a big boost hopefully for companies like ours we are then able to actually offer bets to Canadians legally and I think companies like us, being in Canada being a technology company and going through a very strict Tier 1, licencing around the world and UK and Malta and other places that’s going to hopefully give us a pretty big advantage to operate here in Canada once that happens.
“I think once hopefully Ontario goes down that path. I think the other provinces are going to follow.
“We’re hoping for it to knock on wood and fortunately we just joined the Canadian and fortunately we just joined the Canadian Gaming Association as well this week, which was a big milestone for us.
“A lot of the major companies here in Canada are part of that, so you’re not going to open up business relationships within the CGA but it also opens up the door with inside track to hear about these legislations. It also gives us a voice in the room. I think we’re well situated now, we are excited about the advancements in Canada, I think it’s been a long time coming.”
Why should I watch it?
Exciting look at the Canadian betting market as it moves towards permitting single event sport betting.
Where can I see more?
Source: Proactive YouTube Channel