April has been a big month in Ontario for the gambling industry. On the 4th of the month, the province officially launched its legal and regulated online gaming market. The launch of the market allows punters them to bet on sports events and casino games, and has created other gaming opportunities that companies may wish to explore. This is good news both for the province’s online gaming fans and for the industry as the former will have more choice and the latter has the chance to experience growth and, at the same time, provide a safer space for players to enjoy their gaming.
Operators wasting no time in accessing licences
Several big names in the industry have already obtained licences to operate in Ontario. One of these has been industry titan 888, who, amongst their different gaming services, will be able to offer online slots Canada. Online slots are highly popular with fans of online gaming because they’re easy to play and there’s a wide variety of themes available, not to mention the fact they feature engaging music and graphics. All of these factors make them highly enjoyable.
Of course, the launch is marvellous news to many other companies operating in the industry. Sixteen operators became operational in the province on launch day, and several others have registered with the Alcohol and Gaming Commission of Ontario (AGCO) but must still secure an agreement with iGaming Ontario, the subsidiary of the AGCO that is responsible for granting licences and regulating the market.
The licence wasn’t the only good news for 888, however. The operator has entered into a content distribution agreement with Bragg Gaming. This deal includes games from Bragg Gaming’s proprietary portfolio. This includes games such as the Egyptian Magic slot, the recent debut from its in-house studio Atomic Slot lab. Games chosen specifically for the Ontario igaming market are also part of the deal.
The types of gaming available
The launch of the market has given fans of online gaming much more freedom when it comes to gambling. Now they can gamble on casino games, such as poker, blackjack, roulette and more with selected operators. They’ll also be able to ease up on strategic thinking and just relax with more leisurely types of gaming such as online slots.
Sports events will acquire new dimensions, as fans will now be able to wager on the outcome of events. The date of the launch coincided with the Championship Monday of the NCAA’s March Madness. The men’s World Curling Championship was also in full swing at the time of the launch, and pro golfers were making their final preparations before the Masters, which got under way on April 7th.
Sports betting fans have also been able to place bets on the NBA playoffs in mid-April. The launch has also taken place in time for them to wager on events in the later stages of the Champions League, including the final; on the tennis French Open; and on the women’s NBA (WNBA).
Gambling popularity in Canada
Stats on the website of consumer and market data company Statista show that the size of the gambling market in Canada fell to 12.5 billion US dollars in 2020. World events had taken their toll on the market, however. Experts had forecast the figure to hit 12.54 billion in 2021.
Until the launch of the market, online gaming has existed only in the form of grey websites operated outside of Canada, and also through the Ontario Lottery and Gaming Corp. The latter launched a sports book last summer, allowing Canadians to bet on single sports events. Other than this, there has been little choice.
Success of the launch, and the future of gaming in Ontario
If anyone had doubts about whether online gaming could be successful, the launch day quickly dispensed with them. Not even a minute of the launch had passed before a local punter had placed a large bet with one big service provider. According to a press release published on the website of Bloomberg, Ontario, which has an approximate population of 15 million, could generate a gross revenue of around $800 million this year.
The launch creates a lot of potential for growth of the market in Ontario. The low barriers to entry make it possible for a variety of operators to enter the market, providing consumers with the gaming freedom of choice they’ve long been lacking. The bonus to this is that, according to experts, the grey market will disappear, and sportsbooks won’t have to compete with as many unlicensed operators, if any at all.
Already, the market has been seeing new operators try to enter. Some gaming companies have been unveiling their new online casino and sportsbook brands. As a result, online gaming fans can expect to see a lot more information about gaming. This will range from the types of bets available, through to advertising, sponsorship, media and education about gaming safely and more.
The developments in the Ontario gaming industry pave the way for lots more operators to enter the scene and for the punters to enjoy even more freedom of choice than they have recently begun to enjoy when it comes to gaming. The success of the industry may have set the scene now for other provinces to follow suit and the Canadian gaming industry to experience more widespread growth.
