The Montreal Canadiens’ entry into the Stanley Cup Finals wasn’t the only big story in Canada last week. Last week, the Canadian Senate passed Bill C-218—opening the doors for single-event sports betting in the country.
According to Affiliate Insider, approximately 20 million Canadians actively participate in gaming—principally online gaming. Prior to the passing of Bill C-218, Canadians could only make single-event sports bets in offshore markets. Bill C-218 paves the way for more regulated sportsbooks to enter the Canadian gaming market. During a Gaming Summit North America panel on Canada’s gaming industry, Nic Sulsky, Chief Commercial Officer at PointsBet Canada, shared the importance of regulated sportsbooks entering the Canadian sports wagering market.
“My belief is that in order to provide and build a strong gaming industry, one of the most important aspects of that are strong consumer protections, responsible gaming, and all the other aspects of a regulatory framework that’s going to come in with this legislation [Bill C-218],” said Sulsky.
Sulsky further added that regulated gaming operators keeping the players’ interests in mind, will resonate with Canadian consumers who have been gaming through offshore markets.
Another aspect that Canadian players will respond to is payments technology. As more sports wagering operators will be moving into the Canadian gaming space, they will be looking to collaborate with payment processing companies. Neil Erlick, Chief Corporate Development Officer at Nuvei, believes a variety of payment options to Canadians, including bank-based payments, will help in player acquisition and retention.
“Payments are the backbone of the [gaming] industry, ” said Erlick. “For us it’s about solving the needs of our partners. So we want to ensure that groups like Nic’s [PointsBet Canada] and PointsBet have the most seamless experience possible for their customers when they are trying to make a deposit.”
Erlick added that a regulated gaming operator within Canada working within the regulatory framework will be also extremely helpful for consumer protection.
Both Erlick and Sulsky are excited to start working in the Canadian entertainment industry’s largest segment: gaming. A regulated gaming industry will bring in jobs, media sponsors, and allow governments to fund more programs and services for Canadians. With Bill C-218’s royal assent, it marks a new beginning for Canada’s gaming industry.