PlayCanada Gives Predictions on Ontario’s iGaming Regime – Casino Reports
The long-awaited Ontario online gaming and sports betting open market kicks off on Monday, April 4, 2022, and recently PlayCanada gave its prediction on what to expect from the new regime. According to an analysis by the gambling expert, the online gambling market in the United States has massively outperformed online sports betting and expects the same trend in Ontario.
PlayCanada.com is part of the Play Network and is currently a leading source for news, analysis and information on the Canadian online gaming industry. The website publishes daily original market reports, as well as in-depth research, while providing advocacy tools for the development of safe, licensed and legal online gambling options for local gambling enthusiasts.
One of the most recent analyzes from PlayCanada suggests that Ontario’s new gaming market for private operators should follow a trend seen last year in US markets. Research has found that secure online casino offers 153% additional revenue for operators and 339% more tax revenue compared to sports betting last year in US states where both offers are legal.
Robyn McNeil, the web portal’s chief analyst, explained that sports betting gets more attention, but it’s the interactive games that bring in the big numbers. He says that in states where online casino is legal, it massively outperforms its online sports betting partner. And when Ontario opens its market, the province can expect the same kind of results.
Eric Ramsey, a leading data analyst for Play Network, also supported this statement, as he said that online casinos are not only more prolific than sports betting, but are also less subject to the seasonal breaks and flow that occur in sports betting. According to him, in the United States, online gaming revenue has shown consistent month-over-month growth, and this has been the case in many established jurisdictions.
Mr Ramsey went on to point out that the disparity in the US between online casino and sports betting revenues could be quite informative for Canadian gaming regulators. He says regulators need to be careful to establish rules and restrictions around promotional programs, which have been the cause of the dwindling tax potential of sports betting in states like Michigan.
Modification of the advertising policy
As the Ontario market is less than 72 hours away, recently google also prepared its launch. Last week, the company announced that it had changed its ad permissions regarding the type of gambling ads allowed in the province. Ads from provincially-licensed operators are not allowed, but these companies must also be licensed by Google.
Lots of variety for players
Once the market launches on Monday, eligible gaming fans in Ontario can expect a wide variety of online gaming activity. So far, the province has allowed important betting names such as Bet365, 888, Rush Street Interactive, Kambi Group, Relax Gaming and more recently named Unibet. When the market goes live, they will be able to place their bets on their preferred platform from anywhere within the province’s borders.
Source: “PlayCanada: Online Casino Revenue Will Eclipse Online Sports Betting”, yahooMarch 31, 2022