Elys Game Technology is encouraged by legislation that would see single-event sports wagering become legal in Canada.
Talk of a burst in regulated Canadian sports betting has been increasing in recent months, although Canadian Gaming Association CEO Paul Burns has told the GI Huddle there is still plenty of work to be done.
As Bill C-218 proceeds to hearings before the Justice Committee, however, and the similar Bill C-13 is set for additional hearings, Elys is continuing to monitor legislative developments with hope.
The sports betting firm also believes Canadian laws could emulate the open market approach taken in European markets.
Michele (Mike) Ciavarella, executive chairman of Elys Game Technology, said: “We are quite encouraged by the strong bi-partisan support Bill C-218 received. Although there are a number of steps to be cleared before laws are enacted and an active open market can develop, this vote is another significant step towards being able to offer a safe and regulated product to the millions of sports and esports fans in Canada.
"We expect that Canadian laws could emulate the open market approach taken in Europe over the past two decades. Regulation allows the Government to open up the market and secure industry jobs for Canadians, as well as provide competitive wagering for Canadian players across the country.
"While this legislative process develops in Canada, Elys expects to continue to play an important role in assisting current Canadian operators and businesses, to prepare their online gaming and sports betting offerings.”