On a second reading, the Senate decided to pass the bill, but it still needs to go to the committee to be finalised.
In a statement, theScore CEO John Levy spoke about how important the bill is and why he believes it will be “swiftly passed at third reading.”
Levy said: “With today's passing of Bill C-218 on second reading in the Senate, we are now one important step closer to legalising single-event sports betting in Canada.
"The Bill has now been referred to the Senate’s Standing Committee on Banking, Trade and Commerce, which provides another opportunity to discuss how safe and regulated sports betting will benefit all Canadians by implementing necessary consumer protections, generating critical tax revenue for our communities and driving job creation.
“Following committee, we are optimistic that Bill C-218 will be swiftly passed at third reading in the Senate, receive Royal Assent and become law."
Based on historical data, theScore estimates the Canadian online gaming market will have potential annual gross gaming revenue of between $3.8bn and $5.4bn.
TheScore offers its users a sports media app and a mobile sportsbook that can be used for in-play betting across all major sports leagues and events.
Both services currently operate in North America, with the sportsbook live in New Jersey, Colorado, Indiana and Iowa. If Canada passes Bill C-128 it would broaden the range of both apps.
