BetYa Sports, the sportsbook of the Caribbean online casino is about to launch its own stand-alone sportsbook with single-event wagering. BetYa Sports Ready is the single-most anticipated new product launch in the industry since the launch of William Hill’s sports betting service in the United States in June 2016.
BetYa Sports is a social gaming company that offers simple, fun social gaming experiences to casino players. With their ever-expanding array of social casino games, BetYa is already the largest social gaming platform in Asia with over 600,000 members across Asia. BetYa has announced that it has entered into an agreement with the Australian Lotteries Commission to launch a new social wagering platform in Australia in 2016.
With the federal government of Canada recently legalizing single-game sports betting, several gaming companies are seeking to join the country’s gambling growth. One of them is BetYa Sports, a peer-to-peer sports wagering platform that is enthusiastic about the new and now regulated gaming offering’s offered possibilities for collaborations and investment potential.
On August 27, 2021, the Canadian federal government passed Bill C-218, which amends the Criminal Code to remove the country’s ban on single-event sports betting. Now it’s up to the provinces to create their own rules for how the product will be made accessible in their own jurisdictions. This is a long-awaited development for the gaming sector, as it will finally be able to catch up to the United States.
Investigating New Market Prospects
The sports betting industry has a lot of potential, however the majority of bets are made on offshore websites of grey market online casinos. According to estimates, Canadian gamblers account for 13% of all sports bets made on offshore gambling sites across the globe. The government is now hoping that the introduction of legal single-sports betting would reverse this trend, allowing the nation to retain its income.
BetYa Sports will be able to offer the industry with an outlet for single-game sports betting by connecting customers who bet on opposing sides of a game’s result with authorized individual sports wagering. This manner, issues like match-fixing and bribery that arise from frequent sports betting may be avoided. Furthermore, the peer-to-peer approach eliminates the “house edge” that many operators take use of.
The gambling business will now be able to provide bets on all four main North American sports, as well as soccer, boxing, golf, and mixed martial arts. As the user base expands, the goal is to offer even more diversity. Because the eSports business is quickly expanding all over the world, the firm is now introducing wagers on eSports tournaments.
BetYa Sports is more than ready to join the newly regulated and quickly growing Canadian sports betting industry, thanks to Cansofrt Technologies’ assistance, and it is looking for partnerships and investment possibilities. Applicants may schedule a demo or send an email to the business via its official website.
Application for a License
The Alcohol and Gaming Commission of Ontario published a list of criteria for gaming companies operating in the grey market who want to participate in the province’s regulated sports betting activity last week. Companies must submit their application for licenses via the commission’s official website. Before registering, operators will be asked to pay an annual fee and disconnect from other grey market businesses.
PlayCanada, a prominent industry analyst, previously released a white paper on the country’s recently-regulated sports betting sector. According to the report, the market has enormous potential, and if fully developed, it could supply the economy with hundreds of billions of dollars in gross revenue and hundreds of millions of dollars in tax revenue each year. Experts estimate that wagering may total up to CA$25 billion.
Source: Cision, August 30, 2021, “BetYa Sports enabling legal peer-to-peer sports betting in Canada, following Bill C-218.”
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