Pulse
SPORTS BETTING CANADA
the government is aware of the significant amount of capital investment casino operators have made and are in the process of making to improve their offering in the province. Most of the operators are very excited about the opportunity to create that omnichannel experience for their customers and the integration of their businesses.
“Rich Roberts, (President, Digital Gaming at Mohegan) was on a panel with me at SBC North America and spoke about seeing a younger demographic showing up at the casino because of online integration in Connecticut. Folding online players who have been playing elsewhere into the brand and database is a priority.”
BIGGER THAN NEW JERSEY?
According to
Bonusfinder.com’s latest Bonus Index results, Ontario will become North America’s most important online casino and sports betting market. Te Bonus Index predicts that a combination of its 15 million population, a strong volume of sportsbook and casino players, and an estimated 70+ brands looking to acquire a licence means that brands will be entering a highly competitive market and battling for players by offering the continent’s most appealing casino and sportsbook bonuses.
“Our Bonus Index accurately plots and tracks how successful every North American state and province is month-on-month across sports betting and casino and Ontario will blow everyone out of the water,” predicted Fintan Costello, Managing Director,
BonusFinder.com.
"New Jersey, although second on our list and punching above its weight, will look like it’s spitting out loose change from a slot machine compared to what we’re about to see from Canada’s largest province. It may have six million fewer people than states such as New York but its large number of licences across both sportsbook and casino will see it become North America’s largest gaming and betting market."
Paul is less sure. “I don't know if it will blow them out of the water in the first month to be frank. Tere will be challenges for those sportsbook operators who haven't sharpened their NHL offering as spring brings the playoffs. If you ever wanted a time to get the attention of Canadians, that time is a good one so we will see.
“Canadians love to bet on the NFL and NBA. I am curious and don't want to predict one way or the other about what will happen, but all signs point toward a robust opening, and we will see a good number of new operators on day one, as well as some transitioning into the regulated market.
P108 WIRE / PULSE / INSIGHT / REPORTS
“I don't know if it's going to eclipse New York and New Jersey initially, but it's going to be a healthy market. Unlike other jurisdictions, it'a a full casino and sports betting market and not a straight up sports betting market like New York.”
Ontario’s long-term success is not determined by how many enter the market, but by how many of those who stay. Te barrier to entry is relatively low compared to other markets - anybody who wants to come need only apply for a licence, pay the fees, and set up shop. With rumours of over 30 operators entering in the first six months, making room for them to compete is vital.
“Te Canadian Gaming Association will be making sure that the market performs for operators through ensuring a fair balance of regulatory compliance costs and fostering competitiveness.
“Te staying power of the market, level of competition, and product offering will determine long-term success. From an industry association perspective, we will be keeping an eye on the mechanisms - the regulatory oversight and compliance regimes – and ensuring they don't hinder market opportunities by making it too difficult or too costly.”
With a lot of operators dipping their toes in the water, other states and provinces will be watching closely to weigh up their options should they wish to join Ontario in creating a fully regulated igaming market.
“As an association, we have always asked how provinces will deal with their grey markets. Undoubtedly, they will be looking at Ontario with a lot of interest. I don't think an open licensing market will be the right thing for every jurisdiction, but inviting and creating a regulatory market, whether it's with limited licences or a more open manner, is a process we want to encourage.
“Te grey market is strong outside of Ontario and we know that casino operators and land-based businesses in places like Alberta want access to an online offering and omnichannel experience. Single offerings from a lottery corporation don't always satisfy customer’s needs, and that is why the grey market has flourished.”
"New Jersey, although second on our list and punching above its weight, will look like it’s spitting out loose change from a slot machine compared to what we’re about to see from Canada’s largest province. It may have six million fewer people than states such as New York but its large number of licences across both sportsbook and casino will see it become North America’s largest gaming and betting market."
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