A Growing Number of Operators Prepare to Enter the Ontario Sports Betting Market

Last updated on September 24th, 2022 at 07:12 pm

The Ontario sports betting market is on the verge of another expansion. According to bookie pay per head sources, more operators are preparing to launch their sportsbooks in the province.

The first one will be BetVictor. The online sports wagering firm signed an online gaming operator agreement with iGaming Ontario. Thus, it will enter the province’s gambling industry early next week.

BetVictor has an online gambling license in Ireland and the UK. It registered with the Ontario regulator in June. However, it hasn’t launched a sportsbook in the province yet.

Ontario Sports Betting Market

Betting software development has been progressing nicely in Ontario. Some operators expected to launch in the province are Pinnacle, Betano, and Be99. They received their licenses from the Alcohol Gaming Commission of Ontario. However, they haven’t launched a sports betting platform through legal channels.

More than 20 online sportsbooks are operating in Ontario’s managed iGaming market — the only one of its sort in Canada — which excluded Ontario Lottery and Gaming Corp. PROLINE+, which exists outside the system for private operators. Additionally, around 20 different sites offer simply online club betting or poker, which has proactively helped drive more than $4 billion in betting inside the territory’s administrative system.

In any case, the slow walk by certain bookmakers into Ontario’s controlled iGaming market has been a sensitive area for some in the business.

Ontario has long had a strong grey market for web-based betting wherein operators of online sportsbooks and casinos might be authorized and managed abroad. However, they don’t have approval from the province’s regulators.

Ontario chose to open another iGaming market where private-area operators of online casinos and sportsbooks could legitimately work in the region. Most of them operated in the grey market. Operators unregulated by Ontario specialists were offered a chance to move their exercises into a controlled market. The province’s regulated market launched on April 4 of this year.

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