As one of North America's largest betting landscapes, Canada took the betting industry and the betting industry to it like a duck to water, and as a result the market is well-regulated, highly-competitive and booming within its relative infancy.
Speaking with Altenar’s Head of Sales, Antonino Barra, light was shed on the the inordinate potential of Canada’s betting industry, after having a year’s worth of experience within Ontario’s market space, Antonino and Altenar have witnessed incredible growth and insights for a newly emerged betting landscape.
Antonino was asked the following question: As a provider in the space, how has Ontario’s market changed/grown in the past year, and how do you predict it to change in the following years?
“Ontario's sports betting market has grown considerably in the past year:
According to a release from advocacy organisation iGaming Ontario, province’s bettors wagered more than €23.6 billion (C$ 35.5B) with licensed digital casino, sportsbook, and poker businesses since the new regulatory regime was enacted this last April 2022.
This marks an important milestone, placing the province among the top 5 iGaming jurisdictions in North America in terms of handle and revenue."
Antonino continued, “Looking to the future, we expect the sports betting market in Ontario to continue growing.
Since its inception Ontario's new legal igaming sector has risen by more than 50% in total wagers and gaming revenue each quarter and we anticipate a surge in demand for online sportsbooks, leading to more competition in the market.
We also expect to see more mergers and acquisitions in the industry, as companies will seek to gain a competitive advantage. This consolidation is expected to result in larger, more established companies dominating the market.”
Antonino added, “Present-day figures demonstrate that Ontario has one of the world's top online gaming marketplaces. Since its inception, Ontario's igaming sector has superseded the formerly unregulated market, establishing Ontario as a recognized leader worldwide in this business, and strengthened the expectation that Canadians will continue to embrace a legitimate form of entertainment in the future. As a leading sportsbook provider in Ontario, we remain committed to offering the best possible user experience, competitive odds, and a wide range of betting options to our customers.”
Insights for this article will be compiled from Altenar’s experience within the market and information taken from iGaming Ontario.
If you’re looking to enter Ontario’s blooming sports betting and iGaming industry, contact Altenar today and begin your sports betting journey with flexibility and stability in mind!
