Ontario Regulated Online Gaming Market Celebrates Six Months
After the checkered flag went down on April 4, many were projecting Ontario to become one of the larger betting markets in North America. The province's regulator, the Alcohol and Gaming Commission of Ontario, rolled out the market with a transition period, allowing for "grey market" offshore operators that had been doing business in Ontario for years to get their license.
Ontarians spent close to $1 billion a year on online gambling. 70% of that money was spent on unregulated, grey market websites. The transition period ends on October 31. Report shows that the market size was estimated at $800 million GGY. Handle ending June 30 was just over $4 billion with gaming revenue of $162 million.
Ontario Regulated Online Gaming Market Celebrates Six months. Some people in the industry say it's too early to do any analysis on the market. Others say the Ontario market needs at least until Q1 2023 before we see how strong the channelization is. Canadian Gaming Association president & CEO Paul Burns says it will take two more quarters to fully realize what the Market is going to mean.
Ontario Regulated Online Gaming Market Celebrates Six months. OLG has been actively adding new products and experiences to make OLg.ca a prime destination for online gaming entertainment in Ontario. Since market opening, OLGs added many new online casino products, introduced live game shows and many games with new and existing game suppliers.
Ontario Regulated Online Gaming Market Celebrates Six months. Brandt Iden, head of government affairs, U.S., for technology provider Sportradar, believes the market is headed for even more success. Aly Lalani, BetRegal’s head marketing, is surprised by the low reported numbers. He believes some of the larger brands have been spending more on marketing than expected. The real winner over the last six months have probably been the media companies who have sought partnerships with the bigger brands. It's difficult to compare the initial success of Ontario with Michigan.
