With the CFL looking for alternative ways to add to their revenue stream, Bill C-218 could be key in helping them get single-game betting in Canada.
Talks with the CFL and the XFL continue to happen as both leagues look into a potential collaboration in the near future. A major key to the talks is how both leagues will be able to help add visibility to each country and what kind of revenue they could bring in. Many are wondering what would happen if the two sides decide to not collaborate. Where will the extra revenue source come from?
The CFL has had their eyes on a new bill in Canada that is currently being debated, Bill C-218. This bill would allow the legalization of betting on single-game or single sporting events in the country.
This enactment amends paragraph 207(4)(b) of the Criminal Code to make it lawful for the government of a province, or a person or entity licensed by the Lieutenant Governor in Council of that province, to conduct and manage a lottery scheme in the province that involves betting on a race — other than a horse-race — or fight, or on a single sport event or athletic contest.
In a recent article on TSN, CFL reporters Dave Naylor and Farhan Lalji stated that this bill could potentially bring in $1.5 million to $2 million of revenue to each of the nine CFL teams. Each team’s salary cap is hovering around $5.25 million.
The speculation has been that the bill should get passed before the end of the year. Ontario is the only province in Canada that has worked out how it would work out. Naylor and Lalji say this could have impact on the league with the other provinces not having a plan of attack.
How quickly all of this can happen is an open question. While Canada is expected to legalize single-game sports betting before the end of the year, only Ontario has established a framework to license sportsbooks to operate within its jurisdiction. That means CFL teams in the other five provinces won’t be able to make deals with anybody besides the provincial regulator.Dave Naylor and Farhan Lalji
This is an intriguing topic for CFL fans and the league itself as they looking for other ways to bring in revenue. Talking with the XFL and potentially working with them would be a good start for the CFL, but if it falls through, betting could be the future.
The NFL and XFL reaped the benefits of being able to bet on their games and got a healthy revenue stream from them. Bill C-218 opens the door to a huge breakthrough for the CFL. Betting on CFL games could bring in a new audience and add to the excitement that the CFL has brought Canada for over 100 years. This could be the evolution to the future the CFL has been looking to add to the league.
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