This week signifies a month since the legalizationOntario sports betting was implemented, making it an ideal moment to reflect on its progress. The initial month has been packed with challenges, from launches to mergers and industry partnerships.
There were hurdles to overcome, such as financial institutions hesitating to support gambling accounts. This Wednesday, the AGCO revealedit had fined two operators (BetMGM Canada and PointsBet Canada) may have breached the Registrar’s Standards for Internet Gaming concerning their advertising practices and promotional activities.
We also now have the Trailer Park Boys helping to enlighten individuals on sports betting. Industry experts, including Nic Sulsky, chief commercial officer of PointsBet, emphasize that entertainment value should come first, followed closely by product quality, in-game betting features, and unique market offers—these elements are critical for success in the long run.PointsBet Canada .
Sulsky is at the forefront of a pioneering Canadian venture based in Toronto, which is strategically part of PointsBet’s (an Australian-based company) initial approach.
The aim is to staff predominantly with Canadians, ensuring an authentic Canadian identity that resonates with local sports enthusiasts.
"It\'s Gone Really Well\"
OntarioBets: From a wide-angle view, how has your experience been during the inaugural month?
Nic Sulsky: It's been a positive experience overall. The time has flown by. We are pleased with our early market performance. We were unique in that we launched without any existing market analysis, starting with a clean slate. Consequently, we understood the impossibility of outspending our rivals.
Our focus has been on attracting quality users. Although we’ve only been in the market for a month, the indicators show we are attracting high-quality users. We're seeing a strong initial deposit rate, significant betting activity per user daily, and our loyalty initiatives are paying off.
We aim to establish a solid business foundation, akin to a pyramid, rather than the usual inverted model. Many companies dive into their launches aggressively by dispersing extensive bonuses without having a durable platform or healthy customer base, and we wanted to avoid making that same mistake.
I’d rather not have a massive number of users who are only interested in chasing bonuses and switching between platforms.
We are confident that our offering is the finest in the industry. It’s much more strategic for us to grow the business by attracting higher quality users. Users are more likely to gravitate towards a superior product where they will spend their time engaging in sports betting, prioritizing quality over sheer numbers.
"We encourage our users to join us and remain with us because we provide a top-tier sports betting and casino experience.\"
PointsBet Increasing Its Numbers
OntarioBets: What about thoseMorgan Stanley reports Regarding app download statistics, how are you doing?
Sulsky: We observe positive growth each time we receive reports (whiletheScore Bet has consistently led, PointsBet Canada has been steadily increasing its share since the launch, achieving 5% market share by April 30, compared to only 1-2% when we started).
Not every competitor can make that claim. This indicates we are making progress, backed by our successful partnerships and strong brand narrative. Until April 4, we focused on organic brand introduction rather than aggressive customer acquisition.
We evaluate our growth rates and retention. Moreover, we track our brand awareness levels. Several surveys have shown that PointsBet enjoys a 14% brand recall rate after three weeks.FanDuel in the same survey reported 18%. That’s an encouraging sign for us.
OntarioBets: How do you respond to the AGCO fine?
Sulsky: At this point in Ontario, we are essentially creating our framework as we operate. All operators and the regulator are navigating this together. The AGCO is our main ally in this endeavor, and we are committed to adhering strictly to their guidelines and complying with their requests as they arise.
PointsBet Learning in Real Time
OntarioBets: What challenges have you encountered so far?
Sulsky: The primary issue has been our choice to base our operations in Canada, which has resulted in a local team of 52 people. However, the reality is that Ontario's regulated gaming landscape is relatively new, and our team largely comprises individuals who are unfamiliar with regulated online gaming. I am among the few within PointsBet Canada who has genuine experience in the gaming sector, having previously been involved in regulated daily fantasy sports in the United States.
Thus, one of our most significant challenges has been that our team is learning on the fly. April 4 was the first day they had to adjust to marketing regulations, social media norms, customer service realities, and the operational hurdles that often arise in the gaming sector regarding customer verification and data processing. Challenges are intrinsic to launching in this landscape.
Many competing operators have teams overseas, possessing more experience than we do. Our advantage lies in our ability to react swiftly and efficiently, bolstered by team members with practical knowledge. Our team is currently gaining valuable experience.
Is Ontario Set to Become One of North America's Largest Markets?
OntarioBets: Do you believe Ontario will reach the market potential that has been forecasted?
Sulsky: It's too early to provide a definitive answer since we are just one month in, but I am optimistic based on the initial data. My insights are mostly drawn from PointsBet’s metrics, and we are observing frequent betting activity across a variety of sports on multiple days of the week. This suggests that our initial projections for the Ontario market could be conservative. It’s quite possible that we are on track to be one of North America’s largest markets due to this market’s development.
The grey market, despite my criticisms, established a solid base for a company like PointsBet with a strong product that appeals to seasoned sports bettors. I've noticed a considerable number of engaged and loyal gamblers who are betting regularly, not just on their preferred teams.
"As we observe how Ontario evolves in the coming years, it seems that product quality will be the deciding factor. For instance, PointsBet has prioritized being a leader in live, in-play sports betting. This segment will be critical for the future growth of the industry.
Take baseball as an example. Some operators have invested heavily in this sport yet lack offerings like player prop bets or same-game parlays for Blue Jays games. I am convinced that once users are introduced to sports betting through bonuses or other incentives provided by operators who acquire them through free offers, they will soon begin to explore additional products and features—such as live in-play betting and same-game parlays across various sports—which offer tremendous enjoyment.
It's not merely about securing free bonuses. It revolves around crafting an engaging experience. Sports betting should enhance the thrill of watching sports. Quality products will always triumph.
Betting transcends betting on the Blue Jays beating the Yankees. It can also involve wagering on the Jays to win, Vladdy Guerrero hitting a home run, and Alek Manoah recording over seven strikeouts. Combining these into a parlay makes it exciting. Currently, most operators do not provide this ability. We do.
During the game, if the Jays are down 2-0, the odds may shift favorably for them, allowing me to bet live that the Jays will come from behind for the win or place a bet on Bo Bichette to hit a home run next. It’s not just about wagering large sums of money; it's about offering a delightful product that caters to both casual sports bettors and seasoned veterans with numerous options and ways to enjoy the experience.
This is the unique advantage of live in-play betting — it fosters community interaction around betting. Once you make a bet on the Leafs winning, there’s nothing more to consider. All of a sudden, you can engage socially by predicting that Mitch Marner will score the next goal, that the Leafs will net two goals within this period, or that the Leafs will win by more than three—making these bets while the game unfolds.
Fromdeereplanet.com
