By Dhirendra Tripathi
Investing.com – Score Media (TSX:SCR) shares were up 11% in Wednesday’s premarket trading as single-event sports betting comes closer to being legalized in Canada.
On Tuesday, the country’s Upper Chamber cleared the bill that decriminalizes gambling on single sports games, a status so far enjoyed only by horse racing.
The bill now awaits royal assent to become law, having passed through the House of Commons in February.
The legalization will help state governments collect billions of dollars in taxes, besides creating jobs and helping in innovation, its supporters say.
According to the company, market potential for online gaming in Canada is between $4.3 billion and $5.4 billion in annual gross gaming revenue.
Score’s media app – theScore – is one of the most popular in North America, delivering fans personalized live scores, news, stats, and betting information from their teams, leagues, and players.
The company’s sports betting app, theScore Bet, delivers mobile sports betting experience and is currently available to place wagers in New Jersey, Colorado, Indiana and Iowa.
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