A new bill that will legalize sports betting in Canada has been introduced, but the sector is still largely unregulated. The Ontario Lottery and Gaming Corporation (OLG) said they are confident there will be fierce competition among casinos after legalized gaming goes into effect on April 3, 2019.
The “expert sports betting competition in Ontario” is an expert predicting that the fierce competition of sports betting will continue to grow. The prediction comes from the Ontario government’s decision to allow online gambling, which will make it easier for people to bet on sports.
Ontario’s brand-new online sports betting and online casino sector has only been operational for a month, but it has already shown to be a fiercely competitive market for operators. Greg Warren, a sports betting specialist, thinks that in the near future, the new regime will become even more competitive. As the NBA and NHL playoffs approach, he predicts that more operators will join.
On April 4, 2022, the province’s new open market for private operators became live. It also permits gaming companies and websites that have been recognized by the Alcohol and Gaming Commission of Ontario to lawfully sell their wares online throughout the province. The province has 13 operators and 21 locations up and operating as of Tuesday this week.
Competition Will Expand
Mr. Warren, who is well-versed in the country’s sports betting business, said in a recent interview that competition in Ontario would only intensify. Everyone is waiting for DraftKings to enter the market, but AGCO has not yet granted them a license. When the sportsbook opens, he believes it will be a big hit in the province.
When operating in the grey sector, Ditto, a BetWay brand, had a significant portion of Ontario’s market in the previous year, according to the expert. He anticipates the platform arriving in the province within the next month and that it will perform effectively. Bet99, which has a deal with Austin Matthews of the Toronto Maple Leafs, is also slated to begin in the area.
Mr. Warren reckons that the NHL post-season could be big for both PointsBet and FanDuel, who are already licensed by the province and have partnerships with Maple Leaf Sports & Entertainment. The company owns the Toronto Maple Leafs and the NBA’s Toronto Raptors. According to him, the further the Raptors advance in the players the better for both of the operators.
The NBA was the most popular sports betting option among Ontario gamblers, with 35 percent of total action in the first month of operations, according to BetRivers. The Masters came in second with 17 percent of all bets, followed by the MLB with 14 percent. In their respective sports, the Toronto Raptors and Toronto Blue Jays were the most popular selections.
Getting off to a Flying Start
The CFL’s Ottawa Redblacks have also just committed to a relationship with PointsBet, with the league’s 2022 season set to begin in June. In addition, various publications have verified that Penn National Gaming’s theScore Bet has had a successful introduction in the local market. Penn National Gaming has purchased the Toronto-based sports betting company.
For the first 10 days of the new market, theScore Bet and bet365 were the two most downloaded apps, according to Barclays Equity Research. This accounts for about a quarter of all downloads. FanDuel had the third most downloads in the first 10 days, with 11%, while BetMGM ranked fourth with 11%. Last week, though, theScore decreased to 12%, while bet365 surged to a whopping 38 percent.
Ralph and Dan are the sources. “Competition in Ontario’s sports betting sector is projected to intensify much further, according to one expert,” CBC, April 28, 2022.
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