As one of North America's largest betting landscapes, Canada embraced the betting industry—and vice versa—like a duck to water. As a result, the market is now well-regulated, highly competitive, and booming, despite its relative infancy.
Speaking with Altenar’s Head of Sales, Antonino Barra, valuable insight was shared regarding Canada’s immense potential within the sports betting sector. With a full year of experience in Ontario's regulated market, Antonino and Altenar have observed remarkable growth and development in this emerging landscape.
Antonino was asked: As a provider in the space, how has Ontario’s market changed in the past year, and how do you predict it will evolve?
“Ontario’s sports betting market has grown considerably over the past year:
According to a release from advocacy organization iGaming Ontario, the province’s bettors wagered more than €23.6 billion (C$35.5B) with licensed digital casino, sportsbook, and poker operators since the new regulatory framework was enacted in April 2022.
This marks a significant milestone, placing the province among the top five iGaming jurisdictions in North America by handle and revenue."
Antonino continued, “Looking ahead, we expect the sports betting market in Ontario to keep growing.
Since launch, Ontario’s legal iGaming sector has seen over 50% growth in total wagers and gaming revenue each quarter. We anticipate a continued surge in demand for online sportsbooks, which will drive heightened competition across the market.
We also foresee increased M&A activity, as companies aim to gain a competitive edge. This industry consolidation will likely lead to larger, more established operators dominating the space.”
Antonino added, “Present-day figures show that Ontario boasts one of the world’s top-performing online gaming marketplaces. Since inception, the regulated iGaming environment has surpassed the previously unregulated sector, positioning Ontario as a global leader in the industry. This solidifies expectations that Canadians will continue to embrace legitimate, regulated forms of entertainment moving forward.
As a leading sportsbook provider in Ontario, we’re committed to delivering exceptional user experiences, competitive odds, and a comprehensive array of betting options to our customers.”
Insights in this article are drawn from Altenar’s experience within the market and data from iGaming Ontario.
Thinking about entering Ontario’s thriving sports betting and iGaming market? Contact Altenar today and begin your journey with flexibility, stability, and innovation at the forefront!
