Kaizen Gaming’s Betano brand announces that it will be shutting down grey market operations across Canada outside of Ontario. As of December 18, 2023, users outside of the Heartland Province will not be allowed to make deposits, place bets, or engage in iGaming on the platform. Meanwhile, existing bets will be voided by December 31 and funds will be returned.
Based in Greece, is popular for its soccer connection and offerings as it sponsors, via its Betano and Stoiximan brands, some of Europe’s and South America’s premier football teams. This includes FC Porto, Sporting CP, SL Benfica in Portugal, Olympiacos, Panathinaikos, POAK in Greece, and Atletico Mineiro and Fluminense in Brazil.
Important Message for its Players
Earlier this week, on its Canadian website, Betano informed its users that it will soon suspend grey market operations, meaning that it will stop operating outside of Ontario. On December 18, 2023, it will stop accepting deposits and bets on sports. Also, existing wagers on upcoming sporting events will be voided by the end of the year and money will be returned to players.
In its press release, the iGaming operator also urged all of its customers across the rest of Canada to withdraw funds before January 31, 2024. According to sources, the choice to pull out of grey markets in the country comes from an executive decision from Kaizen Gaming, in an effort to align the gambling company with only regulated markets across the industry.
Focusing on Ontario and Other Regulated Jurisdictions
The online casino and sports betting operator may be abandoning grey market operations across Canada, but it will continue to operate as a licensed brand in Ontario’s legal iGaming sector. In October 2022, Kaizen Gaming revealed it was licensed by the Alcohol and Gaming Commission of Ontario. Now, its Betano app is available to both iOS and Android devices in the province.
The operator has an aggressive marketing strategy in the region, since it may not be that popular among local bettors. Some of its advertising strategies include leveraging the formation of strategic partnerships as well as some of its major sponsorship deals the sportsbook has inked with clubs such as FC Porto and Sporting Clube de Portugal.
Latest Figures from Ontario
In the meantime, Ontario’s open and competitive internet gambling sector is still going strong. In October 2023, iGaming Ontario issued Q2 numbers for 2023-24. For the quarter ending on September 30, 2023, the province recorded a betting handle of CA$14.2 billion and gaming revenue of CA$540 million. This includes total cash bets, including rake fees, tournament fees, and others.
Furthermore, there were 47 operators and 71 gaming websites up and running during the quarter. These platforms clocked approximately 943,000 active player accounts with an average monthly spend of CA$191. However, cash and/or promotional wagering activity in that time and these numbers do not represent unique players as individuals may have set up multiple accounts with different brands.
