Real Luck Group Ltd (CVE:LUCK) (OTCMKTS:LCKKF), the operator of esports betting site Luckbox, praised the Canada House of Commons for advancing bills that would legalize single-event sports betting in the country.
Private Members Bill C-218 passed in the House on Tuesday in its second reading on a 303-15 vote. The bill now heads to potentially a final round of hearings with the Justice Committee.
Another piece of legislation, Bill C-13, was previously introduced by the federal government and would also legalize single-event sports betting by modifying the federal Criminal Code. Bill C-13 is expected to be taken up by the House in the near future, the company said.
"This overwhelming result shows there is cross-party support for an amendment to what is an outdated law and very welcome for organisations like ours, which offer safe, responsible and enjoyable wagering on events," Luckbox CEO Quentin Martin said. "This outcome is another significant step towards being able to offer safer[wagering] to the millions of sports and esports fans in Canada.”
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“Legalization, regulation and working with responsible operators are, in our view, the best means to keep fans safe and offer them the best possible experience,” Martin added. “We will be following the outcome of Bill C-13 very closely during these exciting times [for] fans of esports, sports and the igaming industry in Canada and the US."
Real Luck Group, based in Calgary, Alberta, previously submitted an application to join the Canadian Gaming Association, in anticipation of the legalization, the company said.
Luckbox offers wagering, live streams and stats on all major esports, including CS:GO, Call of Duty, Overwatch and League of Legends, as well as betting on more than 100 sports through its proprietary platform.
Contact Andrew Kessel at andrew.kessel@proactiveinvestors.com
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