Ontario: North
America’s largest gaming market?
On April 4, Ontario will open the first licensed and regulated iGaming market in Canada. According to several estimates, the post- regulated province will become the most
attractive iGaming market in North America for both players and brands, surpassing all its US online counterparts when it goes live.
Ontario’s largest city, Toronto, is home to MLB, MLS, NBA, NHL, and Canadian Football League teams. Te nation’s capital, Ottawa, has NHL and CFL teams, whilst Hamilton also has a CFL team. Hailing the 'milestone achievement', Paul Burns, President and CEO of the Canadian Gaming Association, says one of the challenges Ontario faces that people may not truly appreciate is it's unlike any other market that's open. Customers have already been playing online for 10-15 years on the grey market, making the province a ‘semi mature’ market.
“Te Canadian Gaming Association has been calling for a fully regulated igaming market since 2006,” explains Paul. “Previously, only the provincial lottery corporations have been able to offer igaming and, as a result, we've seen a grey market flourish.
“Te laws in Canada were vague and it has long been an obvious choice for the government to either create some form of regulated marketplace or change the laws and go down the route of enforcement.
“In many parts of the country land-based businesses didn't have access to online gaming. Now that private sector operators in Ontario have access, it allows them to enhance their product offering to customers. It's been a long time coming and, combined with the fact operators previously couldn't have a sportsbook until the last twelve months, the two things combined finally offers operators a level playing field.”
FIRST OFF THE BLOCKS
PointsBet, theScore and Rivalry Corp. were amongst the first to announce their status as registered online gaming operators with the Alcohol and Gaming Commission of Ontario. According to an Eilers & Krejcik estimate,
Paul Burns President and CEO Canadian Gaming Association
operators could generate up to CAD$570m in sports betting revenue this year.
“How consumers behave now they are faced with plenty of choice will be interesting, particularly when it comes to those players with operators who are making the transition from the grey market to the regulated market. Will they stay with the brand or move towards the strong land-based casino brands such as Hard Rock, Caesars, and Mohegan?”
Describing the benefits this newly regulated gaming market will give consumers, Paul says Ontarians will see more choice in front of them: “A lot of the grey market operators didn't really advertise that much.
“Tere is a comfort and protection with the regulated market that operators are held to a standard. People will get paid and know their games are fair. Tere are now highly regulated and reputable operators to gamble with that will serve customers well. Players will have more products on offer that are easier to access. Tere are huge benefits to be had.”
Once registered with the AGCO, operators must finish procedural requirements and sign
NEWSWIRE / INTERACTIVE / MARKET DATA P105
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