Canada

Coolbet Withdrawing from Ontario in Early April

Published

2 years ago

March 20, 2023

Coolbet, owned by the technology provider Gan, has announced that it will be exiting the Ontario sports betting market in a few weeks.

The operator will disable deposit options on 21 March and will close its gaming operations on 22 March. The site and mobile app will be completely removed by 3 April.

Coolbet said: “We strongly encourage you to withdraw your funds as soon as possible. If you have a bet that cannot be settled by [end of day 22 March] because the outcome is still unknown, the bet will be voided and refunded.

“This includes futures and in parlays, if any of the outcomes result (sic) is not known, the part of that parlay will be voided and odds set to 1.00.”

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Ontario legalized single-game sports betting on 4 April 2022, and Coolbet was amongst the first operators to launch in the state. To operate in Ontario, online sportsbooks must pay an annual $100,000 (US$72,671) licensing fee and a 20% tax rate.

However, in August 2022, CEO of Gan Dermot Smurfit said: “However, financial results were below our expectations due largely to factors outside of our control, including foreign currency fluctuations against the US.

“To a lesser extent, results were also impacted by a slower-than-anticipated start in Ontario, Canada.”

A total of 70 iGaming sites are active in Ontario, not including platforms provided by the Government-owned Ontario Lottery and Gaming Corp.

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Canada

ComeOn Group adds sportsbook to its offering in Ontario

Published

1 week ago

November 8, 2024

George Miller

ComeOn Group adds sportsbook to its offering in Ontario

ComeOn Group announced a significant milestone in its sportsbook expansion journey with the addition of sportsbook to their offering in Ontario following the successful acquisition of the required permits. This addition represents a strategic advancement in the Groups sportsbook growth trajectory where they are set to double its sportsbook business in the coming years.

ComeOn Group is one of 51 active operators in Ontario. The Ontario market has experienced robust growth since its launch, reaching C$6.7 billion in revenue in 2023.* By 2029, the market is forecasted to grow by a total of 29%, with 2024 expected to close with a 20% increase.

ComeOn keeps investing in its sportsbook business acceleration that is powered by its proprietary sportsbook platform and in-house risk management and trading team. As a multi product vertical operator, ComeOn is striving to give its customer base a safe and exciting entertainment destination and this approach is now expanded to their Ontario audience.

Juergen Reutter, Chief Executive Officer at ComeOn Group, said: “We are very excited about the opportunities this new milestone opens up for us. As a casino-led operator it represents a key part of our sportsbook strategy to double our business in the coming years. Like in any of our other markets, we are striving for a differentiated sportsbook entertainment experience that is powered by our in-house technology. Our goal is to deliver top-tier entertainment to our players while fostering safe and innovative gaming experiences.”

*Source – H2GC H2 Ontario Data 25.10.2024 (excl. Lottery)

Canada

INTRALOT Announces New Project with the British Columbia Lottery Corporation for Online Lottery Platform

Published

1 week ago

November 7, 2024

Niji Narayan

INTRALOT S.A. has announced the undertaking of a new project between the British Columbia Lottery Corporation (BCLC), the sole lottery operator for the Government of British Columbia in Canada, and INTRALOT Inc., its US subsidiary, for the provision of an online lottery platform. The project also includes the digitalization of the existing land-based network.

The solution will be based on the Player X platform, part of the Lotos X ecosystem, and adds to the company’s overall partnership with BCLC, which has been extended until 2028.

INTRALOT is a leading player in a changing world of gaming. With significant experience in looking forward and anticipating emerging trends, the company provides future-proof solutions to regulated lottery and gaming operators around the world.

Canada

IAGR announces Toronto as host city for 2025 conference

Published

3 weeks ago

October 30, 2024

Adrienn Sarkany

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.