With the impending legalization and restructuring of the Criminal Code in Canada, HeadsUp is looking forward to entering the Canadian sports betting market in early spring 2021. The final decision will be addressed at the government level within the first week of January 2021. A proposed bill has already been set in motion and all stakeholders await the final decision.
HeadsUp Entertainment is one of the active operators spearheading female poker events. The operator's newly appointed chief executive and president, Doug Wilson announced that the company is looking forward to introducing some social media platforms. The platforms are aimed at punters who are eagerly awaiting the possibility of experiencing a whole new gambling entertainment experience, in their country. The operator is in ongoing discussions with two other sportsbook content contributors who are looking at unique ways to improve the market. Additionally, providing user-friendly ways for new players to access these platforms. The continued increase in numbers of not only players but users and visits to sections of the gambling sites have prompted the operator to find ways to maximize the opportunities within the Canadian market.
HeadsUp Entertainment was set to purchase 50% of VIP Entertainment Group that holds a Curacao license but has decided not to pursue this option, despite having signed a letter of intent in September 2020. The reason for the operator opting not to continue with the partnership is because it hopes to be recognized as the official sportsbook operator within Canada and the U.S, once bill C-218 is approved at the legislature level. The estimated annual revenue is in the region of $14 billion, taking into account that the forms of gambling not allowed within the country are played at offshore online casinos and sportsbooks. With that kind of expected growth potential every year, the market will be one that is sought after by many operators. For now, however, HeadsUp is hopeful that they will be the preferred operator and be responsible for taking the sports betting market forward at a pace that will benefit both the operator as well as the economy within the 3 territories as well as the ten provinces in Canada.
The Canadian federal government presented the proposal to both the House of Commons and Senate, in November this year and if it is approved, the bill C-218 will see single-event sports wagering legalized across Canada. This move will bring with it many new reputable operators and service providers who have been waiting in the winds, to enter and benefit from the Canadian online gaming market, which is expected to expand and grow rapidly moving forward. Single-event sports betting has been explored and has had an interest for more than 10 years. Previous bills have been proposed and subsequently failed to pass. However, the latest bill has never had such good odds and supporters of the bill are hopeful that 2021 will see the legalization of this sector of the sports betting market once and for all.