identify
Register
TORONTO — It’s a competitive start to Ontario’s nascent sports betting market, but Warren expects it to increase shortly.
The industry fully opened in Ontario on April 4, and on Tuesday there were thirteen operators and 21 active sites in the province. But Warren, who covers sports in this country for Sportshandle. com and USBets. com, says there are likely to be more festivals. .
“Everyone is waiting for DraftKings to come to Ontario,” Warren said in an interview. “They don’t have a license from the Ontario Alcohol and Gaming Commission yet. . . but everyone expects them to enter the market soon.
“And when they come, they will be very popular. “
The same, Warren says, for BetWay, a gaming company that holds licenses in the UK, Spain, Germany, Italy, Germany and six US states. USA, to name a few.
“There was knowledge of Morgan Stanley that they reported that they had a giant percentage of the (Ontario) market over the last year because they were trading like a gray trader,” Warren said. “They deserve to be here next month and are expected to do so. “do it right too. “
Another operator expected to launch soon in Ontario is Bet99, which recruited Toronto Maple Leafs star Auston Matthews as an ambassador in February. Matthews, who has scored a record 60 goals this season, will lead the Leafs to the NHL playoffs.
The start of the NHL postseason may also be a boon for PointsBet and FanDuel, two licensed Ontario operators that have partnerships with Maple Leaf Sports.
“The more the Raptors pass in the playoffs, the bigger it will be for them (PointsBet and FanDuel),” Warren said. “And all eyes will be on the Leafs this year, that’s for sure. “
Earlier this month, BetRivers said the NBA was the most popular game for Ontario bettors, receiving a consistent 35 per cent of all bets in the first week of launch. The Masters moment (17 percent steady) followed until Major League Baseball (14 percent steady).
And the Raptors and Toronto Blue Jays were the top popular in their respective sports for betting.
Last month, PointsBet partnered with the CFL’s Ottawa Redblacks. The league will begin its 2022 season in June.
The CFL announced a multi-year partnership with BetRegal in 2021 that made it the league’s official sports gaming partner.
Last week, two separate reports recommended that Ontario publish smartly for theScore Bet, a subsidiary of Toronto-based Penn National Gaming, Inc.
Barclays Equity Research said in its report that theScore Bet and bet365 finished tied for the top sports app downloads in Ontario in the first 10 days of the provincial launch. And Morgan Stanley had theScore firmly in the lead in app downloads according to April 18 data.
Barclays said theScore Bet and bet365 recorded 24% of downloads in the first 10 days of launch. FanDuel third with 20% while BetMGM fourth with 11%.
Morgan Stanley indexed theScoreBet with a consistent percentage of 35%, followed by bet365 (27%), FanDuel (16%), BetMGM (9%), BetWay (4%), PointsBet and BetRivers (3. 2%) and CZR, 888 and LeoVegas (one consistent with penny each). The report indicates that theScore Bet’s download consistent with the percentage peaked at 65% on April 4, but has recently stabilized at 18%.
Earlier this week, Morgan Stanley reported that theScore Bet’s percentage had fallen to 12%, while bet365 had risen to 38% and BetMGM to 21%.
What’s unclear, however, is how the market is faring in terms of revenue, as IGaming Ontario has yet to reveal those numbers. IGaming Ontario is a subsidiary of the Ontario Alcohol and Gaming Commission, which regulates gambling in the province.
However, Warren said not all operators are satisfied with the province, which has allowed some corporations to continue doing business even if they weren’t allowed to do so entirely.
“Some operators have waited until the fourth of April to apply for a license and this procedure can take anywhere from 90 to 100 days on average, according to some operators I’ve spoken to,” Warren said. “And it turns out that some operators are allowed to operate while they are in this procedure and not pay the GGR (Gross Gaming Revenue) until they are fully regulated.
“And that created frustration among area operators who followed the regulations of the process. If you look at it from the other side of the coin, when I talked to some of the grey traders in the past, they said, ‘Look, we’re delivering, we’re in transition, we’re committed to that. Is it really that important?” But you can also see why other operators who didn’t participate before in Ontario followed the protocol and how frustrating it is for them, that’s for sure. “
This report through The Canadian Press was first published on April 27, 2022.
Dan Ralph, the Canadian press
© 2022 LakelandToday. ca