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A $1.6 Billion Revenue Prediction For Canada’s Emerging Sports Betting Market
Canada recently legalised sports betting, as of 2021, and the emerging market that is growing in momentum and revenue is expected to reach 1.6billion USD in revenue by 2026.
This legalisation spurred the likes of Altenar, a sportsbook software provider, to look into the benefits of operating within the country.
This is no small feat, and in part might have something to do with the global sportsbook market that grows in revenue and popularity daily.
Having Bill C-218 Safe and Regulated Sports Betting Act passed by Canada’s House of Commons and Senate the sportsbook market is booming in the country and in such a small space of time.
Predominantly focusing on sports lottery-style betting, provinces within the country can permit single-event sports betting at their own discretion or at the request of the bettors.
As this is a relatively new market for Canada, what are the potential policy options for provinces in the country?
Altenar compiled the following list from Vixio’s Gambling Compliance Report ‘Canada: Opportunities In Online Gambling And Sports Betting’...
A View For The Single-Game Sports Betting
As experts in sports betting, Altenar knows that the emerging sportsbook market in Canada holds a lot of potential for operators and this can take the form of three instances and ways of operating for those looking to enter the market space.
Casino Sportsbooks - With cross-border operators offering a Las Vegas-style sportsbook many authorities are urging Canadian operators to offer something very similar to their American neighbours.
Online Sports Betting - Offering directly to customers through state-owned lottery corporations or as a part of a regulatory system that comprises private operators. (An example of this system is currently being trialled in Ontario.)
Retail Locations - having a fleet of sports betting kiosks that will be operated by lottery corporations.
For those looking to operate with private providers, Altenar a sportsbook software provider would be the perfect pairing, as they have ample experience and expertise in growing businesses from start-up to some of the largest market share holders to this day, and are constantly moving with the trends and requirements of any given regulated market.
As the Canadian market is relatively young, many changes to legislation and law could come into play as the market grows and adapts to revenue intake, customer demand and overall market changes all of which Altenar pride themselves on.
What Could Altenar’s Sportsbook Achieve For You?
Altenar’s sports betting software is where stability meets flexibility and because of this and an entrenched work ethic, the sportsbook provider has received glowing client reviews and a host of global successes. From helping to build operators from the ground up, gaining licences, having access to several data providers, risk management systems, being customisable and adapting to the always-changing market having most recently added Esports to their content offering.
Though, these aren’t the only remarkable aspects of Altenar’s sportsbooks software and what it can do for operators in Canada.
Visit the website now to request a demo and learn more from a host of passionate professionals.