Ontario's Legal Online Gambling Market Kicks Off With a BangPublish Date:2022/4/14 11:43
It's official, Ontario's online sports betting went live on April 4 and bets are already rolling in. On Monday, 16 gambling operators were operational in the province, while others have registered with the Alcohol and Gaming Commission of Ontario, but have yet to secure an agreement with iGaming Ontario. Online sportsbook PointsBet saw its first big wager just 50 seconds into the launch and with a population of approximately 15 million, Ontario is expected to generate about $800 million in gross revenue this year. Monday's launch means Ontarians can now wager on casino games, sporting events and other gaming activities, creating an exciting opportunity for online gambling companies like Bragg Gaming Group (NASDAQ:BRAG) (TSX:BRAG), Rush Street Interactive (NYSE:RSI), Penn National Gaming (NASDAQ:PENN), MGM Resorts International (NYSE:MGM), and Gan Limited (NASDAQ:GAN).
On April 13, Bragg Gaming Group (NASDAQ:BRAG) (TSX:BRAG) announced a new agreement to provide its player account iGaming platform management (PAM) and content exclusive to a new online casino brand, 711.nl, in the regulated Dutch market. The deal sees ORYX provide its proprietary PAM platform for iGaming, which will provide seamless operation for the 711.nl online casino which recently received its license and is about to start the operation. ORYX will also offer games developed by its internal studios as well as exclusive games content from partner studios.
The new partnership represents Bragg's third agreement to provide its PAM platform to an iGaming operator for the Dutch market and its fifth agreement to provide online gaming content to this market. The company plans to announce additional platform and content agreements in the coming months as it relies on its acquired expertise and know-how historic success in the global jurisdictions in which it operates.
Chris Looney, Chief Commercial Officer at Bragg, said: "We're well aware of how powerful and agile our turnkey solutions are for those beginning online operation in new markets. Our new partnership with 711.nl is a testament to their trust in our ability to provide them with the iGaming platform and content that will help them successfully launch and grow their presence in the Netherlands."
On April 4, Bragg announced it has entered into content distribution agreements with several iGaming operators going live in the Ontario market after receiving its suppliers license from the Alcohol and Gaming Commission of Ontario (AGCO) for its technology and content.
On the first day of the opening of the regulated market, Bragg revealed that it launched its content distribution agreement with 888casino in Ontario, the first of several with well-known tier-one iGaming operators in Ontario. The deal includes games from Bragg's proprietary portfolio, such as Egyptian Magic, the recent debut game from its in-house studio Atomic Slot Lab, and others chosen specifically for Ontario's new iGaming market which opened on April 4th.
Since obtaining its vendor license in early March 2022, Bragg has worked with local regulators to ensure compliance for its technology and content, both of which have received full AGCO approval. Now, as the market moves towards full legalization, the company is excited to offer the growing number of operators looking to tap into the Ontario market a full suite of titles from its in-house studios and content from its exclusive third-party content partners.
"Ontario is our home market, and we are delighted to be in position to serve operators with our iGaming content and solutions as the market opens to customers across the province. We believe the Ontario online gaming market offers a significant opportunity for our industry-leading content and platform technology and we are excited by the interest shown in our offerings from local, U.S. and international operators," said Chris Looney, Chief Commercial Officer at Bragg.
On April 7, Bragg also announced the launch of its exclusive portfolio of iGaming content in Portugal with leading online gaming operator, Betclic. The company's debut in the Portuguese iGaming market marks its seventh regulated launch in a European country since April 2021.
ORYX's library of premium slots developed by its in-house studios as well as exclusive partners is now available to Betclic's vast Portuguese player base.
For more information about Bragg Gaming Group (NASDAQ:BRAG) (TSX:BRAG), click here.
Gambling Companies Are Going Live in Ontario
Rush Street Interactive (NYSE:RSI), one of the leading online casino and sportsbook companies in the United States, announced on April 4 that its award-winning BetRivers online casino and sportsbook went live in Ontario. BetRivers, which has twice won Online Casino Operator of the Year and Customer Service Operator of the Year for North America from respected publication eGaming Review, operates an innovative online casino with over 350 slot machines and table games.
Penn National Gaming (NASDAQ:PENN) subsidiary Score Digital Sports Ventures (Canada) Inc. (theScore Bet) officially launched theScore Bet mobile sportsbook and casino in Ontario on April 4. theScore Bet offers an immersive and holistic mobile sports betting experience, including a full range of pre-match and live bet types across all major leagues and sporting events. theScore Bet integrates with the company's flagship media application, theScore, to deliver a suite of industry-leading features that bring media and betting together in one ecosystem. The initial list of games from theScore Bet includes those from highly reputable provider Evolution Games. The Toronto Blue Jays and theScore Bet announced on April 7 an exclusive 10-year partnership, which makes theScore Bet the Official Gaming Partner of the Toronto Blue Jays.The agreement grants theScore Bet exclusive national marketing rights that span all gaming categories, including sports betting, casino, online casino and fantasy sports.
BetMGM, a leading sports betting and iGaming operator, was born out of a partnership between MGM Resorts International (NYSE: MGM) and Entain Plc. BetMGM announced on April 4 the launch of its online sports betting and iGaming platforms in Ontario. Ontario is BetMGM's first international market and the 23rd overall in which a BetMGM product is available. The BetMGM Sportsbook app, which offers a user-friendly mobile gaming experience, gives Ontario sports fans the ability to customize pre-game, live, futures, and parlay betting. The BetMGM Casino app offers a wide variety of casino games including slot tournaments, progressive jackpots, blackjack and roulette. BetMGM has also partnered with legendary Canadian athletes to help reach players across the country.
Gan Limited (NASDAQ:GAN), one of North America's leading B2B technology providers of real-money online gaming solutions, announced on April 6 the simultaneous launch of Sports and iGaming in Ontario. On April 4, Gan launched its GameSTACK™ technology platform to support its operating partner as a Player Account Management (PAM) system enabling both online sports betting and iGaming in Ontario. The company's B2C segment (Coolbet) simultaneously launched "day one" as a licensed operator in the Ontario market after obtaining a license from the Alcohol and Gaming Commission of Ontario (AGCO).
The Ontario online gaming market offers a significant opportunity for Bragg Gaming's cutting-edge content and platform technology. The combined market for iCasinos and online sports betting in Canada is estimated to be over US$2 billion in 2022 according to H2 Gambling Capital. This includes Ontario, which is expected to become one of the largest iGaming markets in North America.
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