Canada
Exclusive Canada 2023 interview with Altenar
As one of the most dynamic new markets to enter the scene in recent years, Canada holds a wealth of potential for sports betting and casino alike.
We sat down with Altenar’s legendary Co-founder and CCO, Dinos Stranomitis, to talk through Canada’s 2023 outlook, popularity of the World Cup and soccer-based betting, and most importantly the latest on Ontario. This one’s not to be missed! Read on to find out more …
First up, talk us through your position on the Canadian market – what’s your take on the Ontario sports betting scene almost one year in?
It’s a market we’re taking very seriously – we were one of the first (if not the first!) suppliers in the sports betting space to get a licence for the market. We have made already an agreement with two operators in Ontario, and we are now live.
I think that our position as a provider has been well established for this first year, and we’re seeing interesting trends in the market, as well as a lot of potential, which will become very clear soon enough!
With Canada’s first debut in the World Cup since 1986 – how much are we seeing soccer-based betting on the rise in Canada and how much do you see this driving interest long-term?
Canada has a very interesting football team – they’re very ambitious. Unfortunately, we’ve saw them knocked out of the group stage, despite making a valiant effort. I would like to comment that I did see the team as a little bit naïve in that they played with a lot of risk in deploying an attacking game. Which of course is visually spectacular, but as we’ve seen, has not been the best for delivering good results.
On interest – we have not seen too much from Canada’s betting audience so far in terms of soccer. The demographics that are driving interest in soccer are the younger generation only, rather than mature bettors, who take up more of the market.
However, I see in the future that Canada is investing in soccer and considering that the 2026 World Cup will be organised by the US, Mexico and Canada (with Toronto and Vancouver hosting matches), that can change. I definitely think it will be a more popular sport in comparison to what it is now – and we can expect to see more growth in years to come.
Looking to the other major North American sports – which takes the crown, can we assume NHL and NBA taking second place?
US sports are no doubt the big thing in Canada, and I would say the NFL is the most popular sport in the region from a betting perspective.
NBA would be second as there are many games being played throughout the season and then the NHL. Of course, in the mind of Canadians, hockey would be the most popular sport. However, the NFL and the NBA attracts more betting money than hockey does. After that, baseball is the fourth most popular sport in the region.
Prediction time – with 2023 already started, how do you see the market developing in the next 12 months?
I do believe that in the next 12 months we will see if the next batch of operators who applied for a licence will be awarded one or not. From what we have experienced, the KYC process is quite strict. As a consequence, this does not reward the operators in Ontario, and this will no doubt prove to be a learning process as time goes on.
However, I do believe that a regulated market is the way forward. So, no matter what, this is a positive development. The next 12 months might be a little bit too short to expect something bigger, but I do believe the market will reward the regulated operators at some point, which is the fairest outcome.
Hot on the heels of its most attended conference in history, the International Association of Gaming Regulators (IAGR) is excited to announce that its 2025 conference will take place in Toronto, Canada, from October 20 to 23, 2025.
The event will be held in partnership with the Alcohol and Gaming Commission of Ontario (AGCO) at the Westin Harbour Castle, offering stunning waterfront views and a premier, downtown Toronto location.
‘Fresh off the success of our Rome conference, we’re thrilled to continue the momentum with next year’s event in Toronto,’ said Ben Haden, IAGR President.
‘The IAGR 2025 conference promises to be another unparalleled opportunity for our global community to come together, collaborate and shape the future of gaming regulation. We’re looking forward to working with AGCO to bring it all together.’
AGCO CEO and Registrar Dr. Karin Schnarr, added, ‘We’re excited to welcome IAGR and its members to Toronto. This partnership provides a great opportunity to share Ontario’s innovative regulatory practices and foster meaningful discussions that drive positive change in the industry.’
Stay tuned for registration details early next year.
ESE Entertainment Inc., a gaming company that provides a range of services to leading video game developers and publishers, has announced that it has acquired Bombee Global Entertainment Ltd. (Bombee Americas), the North American arm of Bombee Event Production AB, (Bombee), a global production company specialized in live production, special effects, broadcast, and event management for the gaming sector.
Bombee has successfully collaborated with ESE to bring its premier event production services and world class customer service to North America and beyond. The North American arm of Bombee, Bombee Americas, will continue to grow and scale in this new organizational structure under ESE, while maintaining its entire team and global support.
Konrad Wasiela, CEO of ESE, said: “Today marks the next stage of ESE—a 2.0 version of our company. With the acquisition of Bombee Americas, we are not only solidifying our presence in North America but also paving the way for growth and innovation in the gaming industry. This is a major step, positioning us to deliver even greater value to our partners and elevate the gaming experience for our clients globally. We’re thrilled about the opportunities ahead and the exceptional talent joining our team.”
Transaction Terms
The Acquisition was completed by way of a share purchase agreement (the SPA) among the Company, Bombee Americas, and the shareholders of Bombee Americas (the Vendors). Pursuant to the SPA, ESE acquired all of the outstanding shares of Bombee Americas in exchange for: (i) $750,000 in cash paid on closing, (ii) $375,000 in cash to be paid six (6) months following closing, subject to customary adjustments based on the working capital of Bombee Americas on closing, (iii) $375,000 in cash to be paid twelve (12) months following closing, and (iv) 30,000,000 common shares of ESE (the Consideration Shares), issued at a deemed issue price of $0.10 per share.
In connection with the Acquisition, the founders of Bombee Americas have signed three-year service agreements and will continue to run the business following the closing, along with the rest of the personnel of Bombee Americas who will remain in place, ensuring a smooth transition of operations. As part of the Acquisition, the Company has acquired the liabilities of Bombee Americas, mainly consisting of customary current obligations incurred in the ordinary course of business for Bombee Americas, which are not expected to have a material impact on the Company’s operations or financial position.
No finder’s fees were paid or payable in conjunction with the Acquisition.
The Acquisition was an arm’s length transaction within the meaning of the policies of the TSX Venture Exchange (the Exchange) and constituted an “Expedited Acquisition” in accordance with Exchange Policy 5.3 – Acquisitions and Dispositions of Non-Cash Assets. The Acquisition remains subject to the final approval of the Exchange.
Canada
Suspected Digital Fraud Coming from Canada Up Nearly 11% Since H1 2023, Reveals New TransUnion Analysis
In the first half (H1) of 2024, Canada saw a significant increase in suspected Digital Fraud attempts, with nearly 5.74% of all attempted digital transactions where the consumer was located in Canada involving suspected Digital Fraud, revealed a new TransUnion® (NYSE: TRU) analysis. This is nearly an 11% year-over-year (YoY) rate increase from H1 2023, and TransUnion also documented an 11% increase in the volume of suspected Digital Fraud from Canada during this period, despite a less than a one percent (0.7%) YoY increase in the volume of transactions.
According to a recent TransUnion survey,1 more than half (54%) of Canadians said they were recently targeted by email, phone call or text message fraud attempts. Phishing was the most common scheme type (45%), followed by smishing (42%) and vishing (39%).
The increasing use of digital transactions, combined with rising suspected Digital Fraud attempts are also impacting businesses as they potentially face revenue losses and increased operational costs due to fraud. According to a TransUnion business survey for the H2 2024 Update to the State of Omnichannel Fraud report, 200 Canadian business leaders said their companies lost approximately 6% of equivalent revenue – representing $78 billion – over the past year due to fraud. The most prominent causes of fraud loss cited by them were:
- Scam/Authorized fraud (31%): Dishonest scheme intended to trick a person into giving up something of value (e.g., account access, money, information)
- Account takeover (19%): Unauthorized individuals taking over someone’s online account (e.g., bank, social media, email) without their permission
- Synthetic identity fraud (18%): Use of a combination of personal information to fabricate a person or entity to commit a dishonest act for financial or personal gain
TransUnion also found that suspected Digital Fraud attempts – where the consumer was transacting in Canada and targeted businesses globally – increased on average by 10.5% YoY in H1 2024 compared to H1 2023 and impacted all industries.
Top Three Industries Globally with Highest Rate of Suspected Digital Fraud Attempts Coming from Canada in H1 2024
- Gambling (online sports betting, poker, etc.) – 9.6%
- Retail – 9.2%
- Government – 7.7%
Top Three Industries Globally with Highest YoY Increase (H1 2024 vs H1 2023) in the Rate of Suspected Digital Fraud Attempts Coming from Canada
- Logistics – 172.9%
- Gambling – 79.3%
- Video gaming – 67.8%
“Protecting customers and their businesses from fraud is essential to enabling safe and tailored consumer experiences. These findings reveal that despite the good-faith efforts that are being undertaken by companies to identify and prevent fraud to date, fraudsters continue to evolve and it’s vital that fraud prevention methods keep up with the changing times,” said Patrick Boudreau, head of identity management and fraud solutions at TransUnion Canada.
“Businesses that aren’t already doing so should ensure that they are taking advantage of fraud prevention technologies such as identity verification, IP intelligence, device reputation and synthetic identity detection as critical components of their fraud prevention programs,” he added.
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