Ontario Launches its New iGaming Market Amid Much Expectation
D-Day has finally arrived on 4 April in Ontario, with the province launching its brand-new regulated iGaming market segment.
This week has been dubbed one of the most significant in the Ontario gaming industry history, with the launch of the regulated iGaming market in the province. Despite delay concerns, Ontario kicked off its new regulated iGaming and sports betting market through private operators on Monday, 4 April 2022, allowing licensed gaming brands to launch their services on the local market.
The new online gambling and sports betting market is overseen by the Alcohol and Gaming Commission of Ontario (AGCO) and its subsidiary, iGaming Ontario. So far, 25 operators have been given the go ahead by the two regulators, giving eligible Ontarians plenty of online options when they play from their devices on the move or at home.
Long-Awaited Ontario iGaming Market Launch
Alcohol and Gaming Commission of Ontario informed that as of Friday, 1 April 2022, it licensed more than 25 operators. However, not all launched their products on Monday. Companies such as PointsBet Canada, which started their marketing before the launch, went live on Monday, with the sportsbook partnering with Curling Canada and other teams.
A spokesperson for the betting provider, Patrick Eichner, said that their launch in Ontario is a crucial milestone for the company. According to him, the local market will be the centrepiece of Canadian sports betting. Eichner believes that the company must have a strong start and instantly impress the local players.
Richard Schwartz, the CEO of Rush Street Interactive, shared that the company hired 50 people in Toronto for the launch. According to him, the entry of their BetRivers app is a significant milestone since Ontario is the largest jurisdiction in North America to legalise online casinos and sports betting.
According to the Canadian finance minister, Peter Bethlenfalvy, the government hasn’t yet included revenue from iGaming Ontario in its financial forecasts. However, the information will be made available once the province submits its annual budget. Some experts predict that the new market segment could top CA$800 million in revenue during the first year after its legalisation.