HeadsUp Entertainment International Inc. announces today its strategic plan to enter the regulated sports betting market in Canada. In November 2020, the Canadian federal government introduced a bill (C-218) to the House of Commons that, if passed by both House and Senate, would legalize single-game sports wagering within the country’s 10 provinces and three territories. It is anticipated that this bill will pass in the spring of 2021 and HeadsUp is positioned to be a major player in the sector.
The forthcoming legislation and subsequent changes to the Criminal Code of Canada will allow for HeadsUp to be positioned for rapid growth, taking to market platforms in sports betting, into an industry estimated to be over $14 Billion in annual gross gaming revenue as estimated by the Canadian Gaming Association.
HeadsUp is currently negotiating with 2 sportsbook software providers and is in negotiations with a strategic media partner as a potential merger candidate or acquisition to create unique market access and lower than industry standard costs for player acquisition.
“The rapidly evolving opportunities in the Canadian market, as well as in other countries, are very encouraging and our team has been anticipating licensing and government regulation that we are strategically poised to take advantage of” commented HeadsUp President and CEO Doug Wilson.
The Company will be launching its media content delivery platforms the first week of January which are designed to target viewers and build its base of players in anticipation of the launch of its online gaming products once the path to legalization and licensing in Canada is complete.
Canada is an explosive market for sports wagering and the country is following the lead of New Jersey, Nevada and Pennsylvania as US States that have legalized sports betting.