Preparations are in full swing as we approach the launch ofOntario sports betting apps Following recent developments in the online gambling sector, GAN Limited has secured a partnership with a U.S.-based sportsbook to deploy its technology in Ontario.
While GAN has opted not to reveal the identity of the operator, which it describes as 'tier-1', the company mentions that further details will be shared once the operator obtains its license. According to a press announcement, GAN is set to facilitate the launch of the betting platform andOntario online casino app anticipates that the Ontario market will officially open its doors in the first quarter of 2022.
We are thrilled to have signed our inaugural B2B contract in the newly regulated Ontario iGaming landscape, a goal we've been working towards for several months.
“This U.S.-based B2C operator is a leader in the industry and prefers to remain nameless until they acquire the necessary operating license in Ontario,” stated Dermont Smurfit, CEO of GAN, said in the release . “Given the nature of our platform business, which functions as the client's Platform (or 'PAM'), we are obligated to make this announcement now due to essential operational disclosures required by GAN (or already provided by the client) to third-party service providers in payments, content, and other regulatory tech services.”
GAN Limited has confirmed its intention to seek the relevant gaming licenses forOntario online sports betting and casinos through its subsidiary, GAN Ontario, Inc., and is currently in the process of securing these licenses.
Top U.S. online sportsbooks include names like DraftKings, BetMGM, and Caesars, all of which are anticipated to play a significant role in the Canadian market. GAN has past dealings with FanDuel, opening the door for a potential renewed collaboration, particularly in the online casino segment within Ontario.FanDuel Ontario Other sportsbooks intending to enter the market include BetRegal, BetRivers, and PointsBet.
has been actively expanding its team in Ontario, having announced a sports betting partnership with Curling Canada, in addition to other strategic moves.PointsBet Ontario Ontario's population exceeds 13 million, making it comparable to Pennsylvania, the fifth-largest state in the U.S. According to a report released in September by Eilers & Krejcik Gaming and The Parleh Media Group, the Ontario online gambling market could generate over $2.2 billion in gross revenue once it reaches maturity, with projections of approximately $900 million from online sports betting and an additional $1.3 billion from online casinos.
Ontario Should Be Major Market
It's also estimated that by 2026, more than 40 commercial sportsbooks and casinos will be operational within the online gambling space. Currently, PROLINE+ from the Ontario Lottery and Gaming Corp. is the sole regulated sportsbook functioning in Ontario.
“We see the Ontario iGaming and online sports betting arena as a vital avenue for future growth due to the province's substantial population, and we are excited to partner with a reliable and proven tier-1 operator,” Smurfit said.
Before the Ontario market can launch, several critical steps remain to be addressed. Taxation rates are yet to be finalized, and licenses are still pending approval. There was an initial target date set for early December, but that timeline has now passed with the
When Will Ontario Launch?
Operators have indicated their desire to be operational before the Super Bowl on February 13, 2022, but this may be overly optimistic.first quarter of 2022 being the new target.
Paul Burns, the president and CEO of the Canadian Gaming Association, conveyed in mid-November that “there is still considerable work ahead, but the beginning of 2022 seems plausible. I believe that betting on the Super Bowl will indeed be an option for the public.”
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