VANCOUVER, BC, Aug. 30, 2021 /CNW/ – Canada based, BetYa Sports is a peer-to-peer sports wagering platform excited to explore partnership and investment opportunity on the path to offering Canadians single game sports betting with the passing of Bill C-218.
The Senate passed Bill C-218 officially known as the Safe and Regulated Sports Betting Act on June 22, 2021 which amended the Criminal Code of Canada to allow provincial governments to determine how single event sports betting will be offered in their own jurisdictions. The Bill will officially be law as of August 27.
Sports wagering in Canada is a multi-billion dollar industry with most of those funds flowing offshore to illegal and unregulated sports books. Estimates have shown that Canadians are responsible for as much as 13% of all sports bets placed with offshore sports betting sites worldwide. In 2016 it was estimated that 4 billion dollars was wagered by Canadians with illegal offshore sports betting sites, while only 500 million was wagered with provincial sports lotteries such as Sport Select. By allowing single event wagers, the Canadian Government hopes that Bill C-218 will be able to cut into the estimated nearly 90% market share currently held by offshore sports books, keeping Canadian dollars within its economy.
With the announcement of Bill C-218, BetYa Sports will be able to provide Canadians with a regulated outlet for single game sports wagering by matching users who want to bet opposite sides of a sporting event outcome. This style of wagering eliminates problems created by traditional sports betting such as match fixing and bribes intended to influence the outcome of a sporting event. By offering a peer-to-peer model, the BetYa Sports platform is able to remove the “house advantage” capitalized on by traditional sports books, providing the very best odds for users.
BetYa Sports is currently able to offer betting opportunities for all four major North American sports plus Soccer, MMA, Boxing and Golf with plans to continue adding sports as the user base grows. They are especially excited to add wagers around betting on Esports as it has become one of the fastest growing forms of sport entertainment across the globe.
The sports betting industry is undergoing a transition as more governments recognize the opportunity to be had. In addition to Canada, the United States has also begun the legalization process with more than two dozen states now allowing sports betting within their borders.
Together with Cansoft Technologies, BetYa Sports is excited to move forward and capture market share within the evolving sports betting industry. Currently open for partnerships and investment opportunities, you can learn more or get involved with BetYa Sports by visiting the website at www.betyasports.com to book a demo or contact the team directly at [email protected]
SOURCE Cansoft
