Since the opening of Ontario’s new and regulated market for iGaming operators, numerous brands have made their way into the province, including BetGames. Just recently, the operator assured that its entry into Canada’s most populous province is only its first step towards its expansion in more regulated markets across North America.
Ontario’s online gambling and sports betting market for private operators are the first of this kind for Canada and it commenced operations on April 4, 2022. It is governed by the Alcohol and Gaming Commission of Ontario and its subsidiary iGaming Ontario, which have already registered over 30 operators and 40 websites to join the regulated sector.
What to Expect from the Operator?
In a recent interview, the CEO of BetGames, Andreas Koeberl, spoke on the company’s plans for the Canadian industry. He explained that the operator’s entry in the province took tons of effort and revealed that the company will kick off its operations in the province with Twain Sports, which is its live-action sports betting product and ShowGames.
Mr. Koeberl claimed that ShowGames is the operator’s latest project and it is currently available to Entain, and next year, the project will see two more games that will serve their Ontario-facing brands. Both verticals are quite popular among bettors and aim to target the new generation of casual players who prefer short-form, live-action.
According to Mr. Koeberl, the company identified Ontario as a main target on the continent as it was a market of the rapidly-growing basketball wagering sector, which makes Twain Sport’s launch game, T-Basket a perfect addition. He also noted logistical and practical reasons, specifically in regard to modern, rapidly growing verticals like live entertainment.
The CEO also predicts that interest in the Ontario market will continue until at least late 2023 and then it would most likely see some consolidation. And in his opinion, the company has an advantage as it offers a complementary portfolio which allows operators to differentiate, and provides them with products to cross-sell catering to sports betting and casual gamblers.
End of Transition Period
Just recently, the AGCO concluded the transitional period for grey-market operators who were yet to go legal in the new sector. Operators or websites who did now make the switch before the October 31, 2022, deadline risk getting in trouble with the regulator. They could face monetary penalties and they risk getting their future application rejected.
Prior to that, AGCO issued the second quarter fiscal results for the local iGaming market. The report confirmed that for the period of July 1 through September 30, 2022, the local market generated a total wagering handle of CA$6.04 billion and over CA$267 million in gaming revenue. Meanwhile, at the time the market had 628k active players with an average monthly spend of CA$142.
Source: Gallagher, Erin-Marie “BetGames: Ontario is the first chapter in our North American journey” SBC Americas, November 7, 2022