Ontario’s long-anticipated open iGaming and sports betting market kicks off on Monday, April 4, 2022, and recently PlayCanada has given its prediction on what to expect from the new regime. According to an analysis, by the gambling expert, the United States online gaming market has massively outperformed the online sports wagering and expects the same trend in Ontario.
PlayCanada.com is part of the Play Network, and it is currently a leading source for news, analysis, and insight related to the Canadian online gaming sector. The website publishes daily original reports on the market, as well as in-depth research, while also providing advocacy tools for the development of safe, licensed, legal online gaming options for local gaming enthusiasts.
Revenue Disproportion
One of PlayCanada’s most recent analysis suggests that Ontario’s new gaming market for private operators is set to follow a trend witnessed last year in the U.S. markets. The research found that online casino offerings secured 153% more operator revenue and 339% more in tax revenue in comparison to sports betting last year in the U.S. states where both offerings are legal.
Robyn McNeil, a lead analyst for the web portal, explained that sports wagering gets more attention, but it is interactive gaming that brings the big numbers. He says that in states where the online casino is legal, it massively outperforms its online sport betting partner. And when Ontario opens its market, the province can expect the same kind of results.
Eric Ramsey, a leading data analyst for Play Network, also backed that statement, as he said that online casinos are not only more prolific than sportsbooks, but they are also less subject to the seasonal pauses and flows that occur in the sports betting one. According to him, in the USA, online gaming revenue has shown consistent growth month over month, and that has been the case in many established jurisdictions.
Mr. Ramsey, continued by pointing out that the disparity in the U.S. between online casino and sportsbook revenue could be quite informative for the Canadian gaming regulators. He believes that the regulators must take care in establishing rules and restrictions around promotional programs, which have been the cause of the decrease of tax potential from sportsbooks in states like Michigan.
Change of Ads Policy
As Ontario’s market is less than 72 hours away, recently Google has also prepared for its launch. Last week, the company announced that it has amended its advert permissions regarding what kind of gambling advertisements are allowed in the province. Ads from provincially licensed operators are not allowed, but those companies need to be licensed by Google as well.
Plenty of Variety for Gamblers
Once the market kicks off on Monday, Ontario’s eligible gambling fans can expect plenty of variety for their online gaming activities. So far, the province has licensed prominent betting names such as Bet365, 888, Rush Street Interactive, Kambi Group, Relax Gaming, and most recently named Unibet. When the market goes live, they will be able to place their wagers on their preferred platform from any place within the province’s borders.
Source: “PlayCanada: Online Casino Revenue Will Dwarf Online Sportsbooks”, Yahoo, March 31, 2022
