- Fandom Sports Media (FDM) is applauding the Canadian government’s decision to legalize single event sports betting
- The Federal government introduced Bill C-13 which seeks to decriminalize single-event sports betting in Canada
- The government cited job growth as a primary reason for the decriminalization
- The ban on single-event wagering is estimated by the Canadian Gaming Association to cost the Canadian industry C$14 billion annually
- Fandom Sports Media is up 00.08 per cent and is trading for C$00.85 per share
Fandom Sports Media (FDM) is applauding the Canadian government’s decision to legalize single event sports betting.
In November, the Federal government introduced Bill C-13 which seeks to decriminalize single-event sports betting in Canada. The government cited job growth as a primary reason for the decriminalization.
The Minister of Justice and Attorney General of Canada, David Lametti introduced the Bill, saying these legislative amendments would help create a safe and regulated environment for Canadians who wish to participate in single event sport betting.
“This Bill would also protect Canadians by taking profits out of the hands of organized crime and will help our economy by supporting jobs,” Lametti said.
CEO and President of Fandom Sports Media, David Vinokurov said the Bill is something that should have been a long-time coming.
“The Bill is a great way to further legitimize what is already a well-established business and generate tax dollars for the jurisdictions that allow it to operate in.”
The ban on single-event wagering is estimated by the Canadian Gaming Association to cost the Canadian industry C$14 billion annually.
Vinokurov said that in the U.S.A., a number of states allow mobile-based wagering.
He said the current ban forces Canadian consumers to rely upon black market service providers for their wagering and entertainment needs.
“The ability to bring that consumer base to a regulated industry will help industry grow, allow Canadian based companies to compete on a level playing field,” he said.
Meanwhile, Vinokurov’s legal team will continue to closely monitor the situation while preparing for the eventuality of legalization.
“The recent Canadian government announcement further motivates us to accelerate the expansion of our global footprint in the rapidly growing Esports wagering vertical,” Vinokurov added.
Fandom Sports Media is up 00.08 per cent and is trading for C$00.85 per share, as of 1:31pm EST.
