The popularity of same-game parlays in Ontario’s sports betting scene can be attributed to the strong demand for this type of wagering, according to operators in the industry. At a recent panel during the Canadian Gaming Summit, operators defended the importance of the high-margin nature of same-game parlays as those kinds of wagers are appealing to more casual bettors.
Despite the introduction of single-event betting in August 2021, operators report that players in Ontario are still quite fond of same-game parlays and that those bets are always in demand. Currently, Ontario’s sports betting market is saturated with SGPs, even if they are not named exactly like that, due to the fact that they appeal to the casual bettor and are in demand.
SGPs are a Major Part of the Sector
Kris Abbott, the Canadian country manager for Betano commented that operators are aware that local bettors are quite fond of same-game parlays. That is why sports betting platforms answer that demand. He added that he is not usually an advocate for betting parlays, but when people enjoy it, they and operators should go for it.
Meanwhile, back in February, sportsbook technology provider Kambi Group PLC disclosed that approximately 30% of all pre-game bets on the last NFL season with its partners such as BetRivers and Unibet were placed under its Bet Builder service. This feature powers same and multi-game parlays. Those bets make a hefty return for operators as they generally win 20-30% of parlays.
Conor Murray, vice president of marketing at FanDuel claimed that SGPs are very sustainable products. He explained that what is left out of the 20% to 30% is the fact that the stake is way lower. He believes that they are popular due to the entertainment they provide and promise a heftier payout, as bettors will seek multiple outcomes in their favour during a single game.
Jared Beber, CEO of Sports Venture Holdings Inc., discussed the educational aspect of their company, Bet99, which involves emphasizing the uncertainty of gambling. He mentions that they make it clear that gambling is unpredictable and describes it as a “shot in the dark.” Although they celebrate when gamblers win, he clarifies that they do not actively promote same game parlays as the only way to bet.
Pros and Cons of the iGaming Sector
Ontario launched its iGaming market dedicated to private brands and the results have been remarkable. Within the initial 12 months, the iGaming market made a significant contribution of over CA$1.6 billion to Ontario’s gross domestic product. Moreover, it played a pivotal role in generating employment opportunities, directly employing over 1,800 individuals who received an average annual compensation of CA$103,000. Additionally, it also created approximately 7,900 indirect jobs.
Nevertheless, the introduction of the new market has brought along a significant drawback: a substantial surge in betting advertisements. Consequently, the Alcohol and Gaming Commission of Ontario recently suggested prohibiting the use of sports celebrities in gambling commercials and advertisements. The rationale behind this proposal stems from the concern that these prominent figures tend to attract younger viewers.
