There are now more than 20 online sportsbooks live in Ontario’s regulated iGaming market — with even more on the way.
The competitive market for internet-based casino gambling and online sports betting in Ontario is on the cusp of expanding even further, with several new operators preparing to launch.
First out of the gate will likely be BetVictor. Sources told Covers that the Gibraltar-based online sports betting company recently signed an internet gaming operator agreement with government agency iGaming Ontario and will go live in the province on Tuesday.
The company that operates the BetVictor website is also licensed as an online gambling operator in the United Kingdom and Ireland. It obtained an iGaming operator registration in Ontario in June but has yet to launch within the province's regulatory framework.
Other operators expected to launch soon in Ontario's iGaming market include Pinnacle, Bet99, and Betano. All three have their iGaming registrations from the Alcohol and Gaming Commission of Ontario (AGCO) but have not begun taking bets via provincially regulated channels.
“Pinnacle.ca will be available to Ontario residents soon, while the operator’s B2B arm Pinnacle Solution has also been approved for its Gaming-Related Supplier registration, allowing it to service Ontario sportsbooks with its trading and risk management services,” Pinnacle said in a September 12 press release.
There are now more than 20 online sportsbooks live in Ontario’s regulated iGaming market — the only one of its kind in Canada — which doesn’t include Ontario Lottery and Gaming Corp.’s PROLINE+, which exists outside the framework for private operators. There are also about 20 other websites that offer just online casino gambling or poker, which has already helped drive more than $4 billion in wagering within the province's regulatory framework.
Ontario has long had a robust “grey” market for online gambling wherein operators of online sportsbooks and casinos that may be licensed and regulated abroad, but not by Ontario authorities, are accessible to, and in use by, provincial punters.
Ontario’s government decided to open a new iGaming market — in which private-sector operators of online sportsbooks and casinos could legally operate in the province — partly because of that grey-market activity. Operators that were not overseen by Ontario authorities were offered an opportunity to shift their activities into a regulated market, which then went live on April 4 of this year.
But some operators have still been taking bets from Ontarians while working their way towards launching in the regulated market. That has irked others that operate under Ontario regulation, including strict advertising rules for bonuses and free bets.
The AGCO, though, has warned it will not tolerate the situation for much longer. The regulator has proposed a new standard that is expected to come into effect on October 31 and would require any applicants for Ontario registration to stop unregulated activities in the province.
“The implementation of this Standard will require some applicants to shutter their unregulated sites until they can be registered and have signed their operating agreement with iGaming Ontario (iGO),” the AGCO said in an August 29 email to stakeholders. “Any registrant or applicant that do not meet this Standard (once in force) will be jeopardizing their eligibility to obtain or continue holding an AGCO registration.”
https://www.covers.com/industry/ontario-sports-betting-new-operators-launching-september-2022