Hi there,
I think there is definitely an opportunity. That being said, I am always cautious about grand ambitions. When this was announced, an article in a major newspaper stated that Proline accounts for $500M in bets annually, whereas $14B flows through bookies and off-shore platforms for single events sports betting. Immediately, you think this is a large untapped market.
I have no doubt it is, but let's temper expectations. The cannabis industry made bold claims themselves backed by considerable research and yet, the demand has fallen far short of forecasts.
That being said, it is a positive for companies like SCR and FANS which are no doubt itching to enter the market. Casino operators are likely to benefit. Keep in mind however that if passed, it will still fall to provincial governments to enact and it is unclear what that will look like.
Overall, it is a benefit - it;s just a question of how much and when will these companies start to see real benefit. There is plenty of unknowns here, thus these remain risker investments.
Mat