Betway Obtains Ontario License for New iGaming Marketplace
from Canada Alcohol and Gaming Commission of Ontario (AGCO) on Tuesday, April 19, issued a license for Bet to operate in the newly regulated online gambling market. It will be will expire in two years, on April 18, 2024.
The license covers Betway.ca and various related dedicated domain names for sports, esports, virtual sports, casino, live casino, among others.
The regulator said Betway accounted for the 30th operator license award since the opening of the regulated market. The number of registered operators on April 1 was 25, with bet365, FanDuel, BetMGM, Rivalry, theScore, BetRivers, 888, PointsBet, Unibet, among others, having obtained licenses on launch day, April 4. Most licenses will work for 12 months, with only 10 of them for two years.
According to a recent report by Morgan Stanley, which looked at the most downloaded betting apps by punters since the market went live, Betting app theScore has taken a “very strong lead”because the application of the mark represented 50% of total sports betting downloads. Bet365 received the second highest number of downloads with 36%, according to Morgan Stanley, followed by Betway with 5%, even before obtaining a license. BetMGM and BetRivers each held a 3% share.
While downloads don’t necessarily mean customers are spending their money on this app, the report offers a first look at market projections and carrier competition in a jurisdiction expected to generate nearly $1 billion in revenue. rough in its freshman year.
In 2021, the Betway brand and Spin were launched in nine new regulated markets. International launches included France and Tanzania for Betway and Mexico for Spin. North America was the parent company of Betway great groupfirst market in 2021, representing 45% of turnover. Last week, Super Group reported 2021 revenue up 45% to 1.32 billion euros ($1.43 billion) year-over-year. Through a business combination with Sports Entertainment Acquisition Corporation (SEAH), a publicly traded Special Purpose Acquisition Company (SPAC), Super Group began trading on the New York Stock Exchange (NYSE) on 28 january.