This week, leading sportsbook operator Bet365 informed that it will be transitioning from Canada’s gray market to the provincially regulated one. The company was pleased to inform that it has been approved by the Alcohol and Gaming Commission of Ontario to be a regulated online sportsbook and join its regulated iGaming and sports wagering market.
After initially being delayed Ontario’s open market for private operators is now slated to launch on April 4, 2022. This will allow for approved brands to legally offer their online gaming or sports betting products to gamblers from within the province. The market has attracted plenty of interest as in the summer Canada decriminalized single-game betting.
Bet365 has been part of Ontario’s gaming field for quite some time, but now it will be officially licensed by the province’s regulators. The company’s mobile app will offer the same features and products as before, but starting from April 4, 2022, bettors will be required to provide location verification so the app can determine that they are within provincial borders.
Internationally, the app boasts a player base of more than 63 million users, and it is licensed by the Gibraltar Gambling Commissioner while also employing over 4,000 individuals. Canadians are already able to use the operator’s app, which offers a vast selection of sports betting opportunities, as well as casino titles, poker games, and last but not least slots.
Also, this month, the company has introduced a special offering for all Canadian and U.S. sports bettors who are fans of March Madness. The app offers the immense opportunity at the chance of winning CA$6 million by correctly predicting the outcome of all 63 games. Translated into odds, the chance of guessing right all the games is one in 9,223,372,036,854,775,808.
This offer is available to new and eligible online bettors who are located in the Great White North or in the U.S. In addition to that, participants must also be at least 18 years old and be verified for identity by the company. However, if a player does not guess all games, there are still other cash prizes for the top 250 individuals on the leaderboard.
Others Join in Too
Other gray market operators who already operate in Canada and have also been approved to join the regulated market include 888. The company announced that it has been licensed by the AGCO to join earlier this month. Once the market opens the company will be able to launch its impressive portfolio of iGaming products iCasino, sports betting, and poker to eligible Ontario gamblers.
Last week, on March 10, 2022, Rush Street Interactive has also shared that it has received regulatory approval to join Ontario’s market. Chief Executive Officer of the Illinois company, Richard Schwartz stated that the acquisition of an Ontario iGaming license is an important milestone for the company, which already offers its BetRivers to the province but in social free-to-play gaming form.
Source: Greg, Warren “Bet365 Now Licensed In Ontario, Launching Bracket Challenge In Canada”, SportsHandle, March 15, 2022