Canada’s Senate vote opens way for single event betting

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Canada’s Senate passed a bill that will open the way to legalize betting on single games or sporting events, which is currently illegal except for on horse racing.

The vote sent gambling shares higher as it is seen helping them win back customers from offshore websites and U.S. casinos.

After the bill receives royal ascent from the chief justice of the Supreme Court in coming days, it will be up to each of Canada’s provinces and territories to decide how to implement legal betting on sports events.

Some provinces have said they would move quickly to get the rules in place. Previously, parlays or combinations of two or more bets into a single wager were the only legal way to bet on sports in Canada.