Betsson Gamble on Canadian Betting with $3M Slapshot Media Investment

The landmark decision to allow single-event betting earlier this year has changed the sports betting landscape in Canada for the good. In addition to forcing a review of the current gambling legislation, it has also kicked off renewed interest in the market from investors and operators.

The reason is that prior to the government writing Bill-C218 into force local bettors could only place parlay wagers. While Canadian gamblers still tried their luck having to accurately predict multiple sporting event outcomes in order to claim a single winning betting slip was more of a grudge bet than one that engendered excitement.

With the approval of single-game sports betting, punters can now place several wagers, if they so choose, on simple events like who will win a match or who the winning playmaker will be, and each bet wins or loses on its own merits.

Best Foot Forward

Swedish online casino and betting provider, Betsson AB, is wagering on the success of the newly refreshed Canadian market by investing CA $3 million (€2.02 million) in gambling start-up Slapshot Media Inc.

Pontus Lindwall, CEO of Betsson AB, said:

“The Canadian market represents a great opportunity for Betsson to increase the share of revenues from regulated markets. The local know-how and experience that the founders of Slapshot Media Inc possess will position Betsson well on the upcoming regulation of the Canadian market”

The investment gives Betsson a 28% stake in the company which specialises in “creating localised sports content and provides marketing and managed services” to online gambling operators in Canada. Betsson has also negotiated the right to increase their stake in Slapshot Media up to 70% for a maximum investment of CA $25 million (€16.84 million).

 Looking Toward Ontario

As a part of their ongoing relationship Slapshot Media will be assisting Betsson in their preparation for Canada’s upcoming regulation expansion.

According to the public rollout plan for the new licensing and regulation regime, Ontario will be the first state to offer fully regulated online gambling. When exactly international online casino and betting operators will be allowed to begin doing business under the new licensing regimes has not been confirmed, only that it will be in 2022.

With a market valuation of CA $1 billion in 2022, it comes as no surprise that companies like Betsson and even Penn National Gaming have been looking to invest in the market as a show of good faith and to cement their position ahead of its official launch.