November 26, 2021 · Daniel Thompson
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Latest study suggests that Ontario could become the largest regulated online jurisdiction in the whole of North America. According to Bonusfinder.com’s newest Index results, once the province launches its iGaming market for private operators in 2022, it will be able to break numerous iGaming records as well as outperform every single gaming U.S. state.
The research places Ontario on the top of the North American gaming markets list with a Bonus Index score of 23377. This rating is almost twice as big compared to the New Jersey and Pennsylvania ones. And according to the latest reports from Canada, the new and competitive market is on schedule to be launched in Q1 of 2022.
Market of Immense Opportunity
Once the province starts off its iGaming market, the study suggests that it will become the largest online casino and sports betting market on the continent. The Bonus Index projects that the total population of almost 15 million, combined with a great number of sportsbook and casino players would provide immense opportunity for the market.
Currently, more than 70 casino and sportsbook brands will be looking for a license to join the province’s new iGaming regime. Meaning that the market will be quite competitive, while also offering the most appealing average casino bonus of CA$866 and average sportsbook bonus of CA$395. New Jersey recently published a betting handle of US$1.3 billion for October, but the study predicts that Ontario could easily outperform the Garden State.
Fintan Costello, Managing Director at BonusFinder.com, said that their research demonstrates the formula for success for any jurisdiction is high population combined with a competitive market, large player volume, and heft bonus promotions. According to him, a competitive market encourages operators to outdo their competition when offering bonuses, which is great news for gamblers.
Mr. Costello continued by saying that the website’s Bonus Index is quite successful for tracking and predicting gaming markets’ potential. He predicts that once Ontario launches the new online gaming regime in Q2 2022, it will blow the competition away. And even jurisdictions like New Jersey which is second on the Index list will seem insignificant.
New Regulatory Body
In order to prepare for the expansion of the gambling industry, the Alcohol and Gaming Commission of Ontario launched a new gaming subsidiary entity named iGaming Ontario. The new division has its own Board of Directors and is now tasked with regulating all legal online gambling activities in the province. The new body will also assess iGaming operators’ applications to join the new market.
Latest Update
Most recently, the President and CEO of the Canadian Gaming Association, Paul Burns, provided an update on Ontario’s new iGaming initiative. There is still no concrete date for the launch but he assured that it will come in Q1 of 2022l. He also said that both iGaming Ontario and the AGCO are doing everything in their power to bring the new market to life as soon as possible.
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