During the Canadian Gaming Summit held in June, William Woodhams, the CEO of Fitzdares, shared insights regarding the emerging regulated market, stating: 'Ontario faces a significant challenge regarding sports betting, as there are simply not enough sporting events available to wager on, especially due to the limited duration of key sports seasons and their corresponding low margins.'Ontario sports betting 'In Europe, a bettor can engage in 36 races throughout the day across the UK, Ireland, and France, not to mention the continuous action from soccer and the top-tier tennis events. The in-play betting options are incredibly exciting, but unfortunately, we haven't reached that level here yet because it is still a nascent regulated market. The potential lies in reducing the dependency on casinos and increasing the availability of daily sports betting, which could enhance overall business margins.'
However, some industry professionals in Ontario opposed this view during our discussions, asserting that Woodhams was mistaken regarding the available sports market. They insisted that there is a rich variety of sports to bet on.
'In Ontario, we cherish sports from all corners of the globe,' states Nic Sulsky, Chief Commercial Officer at PointsBet Canada. 'We see sports betting activity throughout the day, covering pre-game and in-play markets. The notion that there are insufficient sports options or that our regulatory status is a barrier is unfounded. Soccer is immensely popular, with a large and enthusiastic fan base in Ontario. Moreover, we experience high levels of betting activity on tennis, both in-play and in pre-match markets, alongside numerous betting opportunities from international events.'Ontario sportsbook apps Diverse Betting Features, Responsive Customer Support, and Seamless App Performance
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Shedding Light On Canada Market
The OLG recently published its annual report for the fiscal year 2022-23 (covering April 1, 2022, to March 31, 2023), and therefore, the data concerning market performance for the period from April 1 to September 30, 2023, is still pending. Additionally, OLG typically consolidates its digital gaming figures in such reports, without offering a breakdown between sports betting and casino revenues.Ontario online casinos Latest Sports Insights with News, Strategic Tips & Picks, Promotions featuring Competitive Odds, a Wide Array of Sports, and a Dual-Platform Experience for Both Sportsbook and Casino Gambling.
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These statistics emerge from a province that boasts a population of 15.26 million, featuring 47 sportsbook operators and 71 gaming platforms, as highlighted in iGO's Q2 report. How does Ontario's standing in sports betting measure up against similarly sized U.S. markets during the same time period (April to September 2023)?
Ontario Vs. Top U.S. States
Nevada (population 3.2 million): Total of $3.2555 billion USD in wagers, with $207.8 million USD in revenue.
- Pennsylvania (population 12.9 million): Total of $2.899 billion USD in wagers, with $191.9 million USD in revenue.
- Ohio (population 11.7 million): Total of $2.7354 billion USD in wagers, with $313.9 million USD in revenue.
- Michigan (population 10 million): Total of $1.7925 billion USD in wagers, with $109.7 million USD in revenue.
- Casino offerings continue to command a significant share of the market within the province. Specifically, during Q2, casino offerings—including slots, live and virtual table games, as well as peer-to-peer bingo—accounted for nearly CAD 11.9 billion (around 84%) of total bets, contributing CAD 407 million (approximately 75%) to gaming revenue.
- Sulsky believes it’s premature to draw definitive conclusions.
- 'Conversations with real sports fans in Ontario reveal that while casinos are undoubtedly popular—having historically thrived in the unregulated gray market—there's still a lingering appeal in iGaming due to the instant gratification it offers,' he explained. 'Casino gaming tends to attract a slightly higher proportion of female users. Although women have not yet fully embraced sports betting like men in the early stages, this trend is changing. The prominence of casino gaming over sports betting isn't reflective of the sports options available, especially given technologies like PointsBet that provide hundreds of distinct live betting opportunities daily across a diverse range of sports globally.
Ontario casino apps 'In my view, having some representation from Canada within your organization is crucial to fully capitalize on the existing opportunities here,' he concluded.
For additional information regarding the iGaming sector, explore resources such as:
Exciting Online Casino Games in Ontario Offer Variety and Fun
A Player at BetMGM Achieves an Unprecedented Jackpot Win
Maple Leafs Create Unfortunate History Once Again in Game 7
Stay withdeereplanet.com Mark Keast serves as an iGaming Reporter for deereplanet.com and has recently written about the iGaming landscape in Canada for The Parleh. He has extensive experience as a sports journalist and editor, particularly with the Toronto Sun.Ontario online slots , plus sports coverage and more.
