Here's why you've been seeing so many sports betting ads on TV
Sports betting sites, online casinos and cryptocurrency dealers are major TV media buyers. Last August, the federal government removed restrictions on single-game betting in Canada. On April 4, Ontario became the first province to host a competitive sports betting market. The companies are hoping other provinces will follow Ontario's lead. They are paying for national ads just to reach the Ontario market, where they are licensed. The ads also serve to drive up name recognition even in jurisdictions where their operations are legally prohibited. “Gambling websites that are now licensed in Ontario appear to have purchased significant advertising packages with national broadcasters,” says Dan Beebe, interim COO of the BC Lottery Corporation.
BCLC lost 60% of its revenue during the 2020/21 fiscal year, but its online hub PlayNow.com doubled its previous year's revenue. Play now. com took in more than $2 million in bets on the Super Bowl, double its record haul for the NFL championship.
