The Alcohol and Gaming Commission of Ontario has imposed a fine of $48,000 on Unibet, marking yet another instance of regulatory action against gaming operators for alleged missteps in advertising and player incentives.
In a news release, the AGCO saysUnibet Ontario The commission suggests that Unibet may have violated Standard 2.05 outlined in the Registrar’s Standards for Internet Gaming by disseminating multiple advertisements between May 19-22 that promoted generous introductory offers.
In a statement, Tom Mungham, the CEO of AGCO, emphasized the importance of upholding responsible gambling standards, player safety, and the integrity of games. He assured that the AGCO will persist in scrutinizing the activities of these gaming operators to ensure compliance with Ontario's Gaming Control Act and related standards.
Kindred Group, the parent organization of Unibet, recognized its mistake in this case.
Amanda Brewer, the Canadian country manager for Kindred, stated in a release, \"We misunderstood the guidelines regarding inducement messaging while advertising our launch in Ontario. We sincerely apologize for failing to meet a critical AGCO requirement and are committed to reinforcing our internal procedures to maintain compliance. Kindred aims to uphold the highest standards in responsible gambling and player safety, which extends to our marketing practices. \"
DraftKings Ontario In a similar vein, a fine of $100,000 was imposed in June for related violations. Additionally, BetMGM Canada and PointsBet Canada faced fines of $48,000 and $30,000 respectively in May for their own alleged breaches of standards.
Rivalry Presents Its Financial Results for the Second Quarter
This week, Rivalry disclosed its financial performance for the second quarter ending June 30, revealing a betting volume of $38.4 million CAD, which represents an impressive 98% increase compared to the previous year. Their gross gaming revenue rose to $5.3 million, showcasing a substantial 60% annual growth, while their gross profit also reached a record $2.1 million, reflecting a remarkable 206% year-over-year increase.
InOntario sports betting Since launching in the market on April 4, Rivalry's co-founder and CEO Steven Salz conveyed to stakeholders that the company is proceeding in a cautious manner during its expansion in the province.
"Regarding Ontario, our expenditure has been manageable,\" Salz commented. \"However, there have definitely been some unexpected challenges, particularly concerning the complexities of regulations around marketing and communication. It's more about what is permissible to convey rather than attracting customers.
"Additionally, the onboarding process has introduced more hurdles and layers of complexity compared to our experiences in other markets. We've faced more operational challenges than anticipated. However, given the relatively modest total expenditure, I wouldn't describe our experience as disappointing, but it has certainly been different from what we expected in the first couple of months.\"
Moving into the third quarter, up to July, the company reported a total betting handle of $23.4 million for the month, an impressive all-time high for a single month, representing an increase of 66% month-over-month and a significant 162% rise compared to the previous year.
Mobile App on the Way
Rivalry is headquartered in Toronto and operates with a global workforce across over 20 countries. The company holds a sports bookmaker license in Australia and has an online gaming registration in Ontario, with plans for obtaining additional licenses in other territories.
According to Salz, the launch of their mobile app in Ontario is anticipated for October or November, which is expected to boost user engagement and overall adoption. He mentioned that the company plans to gather customer feedback, conduct user testing, and enhance brand recognition as they continue to grow in the province, where they will adjust their expenditures based on achieving specific goals.online gambling in Ontario \"The overwhelming influx of bonuses and promotions during the initial weeks made it quite difficult for sportsbooks to differentiate themselves. Many did not see adequate returns when trying to justify the expenditures,\" Salz reflected. \"We are pleased with our cautious spending strategy, having only invested a few hundred thousand since the Ontario launch. We will maintain a systematic approach that aligns with our strategic vision and customer demographics.\"
New Online Casino Game Hits Ontario with Exciting Features
Fromdeereplanet.com
