Single-event wagering has gone live in Canada on August 27, 2021, and is off to a flying start. For the first week of the new legislation, the Ontario Lottery and Gaming Corporation reports that a sports betting handle of more than CA$1 million has been generated on its recently launched PROLINE+ digital sportsbook. Over 74% of the betting volume was placed as single-event wagers.
For years Canadians had to wager on their preferred sporting events via parlay bets, which required them to guess the outcome of several games to have a successful wager. But Bill C-218 amended the Criminal Code to lift the prohibition on single-event wagering. Now Ontario with a population of almost 15 million has the potential to become an important gaming jurisdiction on the continent.
First Week Stats
The OLG was able to launch its new digital sportsbook PROLINE+ on the first day of the new legislation and became the first entity to offer the long-awaited single-event wagering products. This way the Crown has a head start as the province will open the online gaming market for private operators in the upcoming months.
Dave Pridmore who is the current chief digital and strategy officer at OLG said in a recent statement that the new online sportsbook is the exact product that many local gamblers have been waiting for. According to Mr. Pridmore, the new platform offers new and competitive products to its players from the province, and they realize that.
Paul Burns, the current CEO of the Canadian Gaming Association said that the province is enjoying a great launch since it was well advertised before the official introduction. Mr. Burns added that the OLGās Proline is a brand that they have had for years, and which enjoys great customer loyalty. He explained that until now gamblers had to go to retail sportsbook locations to place wagers, and now it is much easier with the platform.
Currently, Ontario is the only province that has announced its plan to start a private market for single-event wagering. Mr. also said that the province is the only one, for now, willing to allow privately operated sportsbooks to enter the market. Gaming brands such as DraftKings, BetMGM, FanDuel, PointsBet, and theScore are among the names expected to apply for the provinceās newly regulated market.
Application Process
Last week the Alcohol and Gaming Commission of Ontario released a guide of requirements for gaming operators that intend on joining the provinceās new iGaming market. In order to apply for a license, companies must submit their applications on the entityās official website, and provide a series of legal documentation and pay an annual fee. In addition to that, the operator must cut its ties to other grey market companies.
New Online Regulator
In order to prepare for the online gaming expansion, the AGCO introduced a new entity that will be tasked with regulating the online gaming market named iGaming Ontario. This new entity will be a subsidiary of the commission, and it will operate separately with its own staff and board of directors. The new regulator will assess candidates and grant licenses later this year.
