Developing Well: The Canadian Gaming Industry’s Growth In 2021
The Canadian government legalized single-event sports betting (Bill C-218) in 2021, opening doors to a billion-dollar industry. The legalization allowed provinces such as Ontario to launch their own sportsbook, while also beginning the process of welcoming international iGaming merchants. In a very short period of time, Canada’s regulated online gaming industry has shown noteworthy growth.
When single-event sports betting went live last August, Ontario’s government agency, Ontario Lottery and Gaming Corporation (OLG), launched their own sportsbook Proline+, allowing players to place single-event sports bets or parlays through a regulated gaming platform. In the first month of legalized single-event sports betting, Proline+ recorded more than $6 million in bets. According to stats released by OLG, single-event sports betting accounted for 77% of bets placed on Proline+ in its first month of operation. Additionally, in a survey conducted by OLG, 62% of Ontario players were “more likely to make a single-event sports bet because of its recent legalization in Canada.” OLG’s stats and survey indicate a strong interest in online gaming amongst Canadian players. Similarly, British Columbia’s sportsbook, PlayNow.com, recorded more than $25 million single-event sports bets in its first two months of operation—indicating a strong presence of sports betting in the province.
Canada’s regulated gaming industry is also helping to form important partnerships. International online gaming operators have begun collaborating with Canadian sports publications and teams to provide better betting opportunities to Canadian players, for example, PointsBet’s Canadian arm, PointsBet Canada, has joined hands with Curling Canada to become its official sports betting partner. This partnership is extremely important because offering Canadian players diverse sports to place bets on helps in building a relationship between the players and operators. Additionally, to connect better with Canadian players, PointsBet Canada will also collaborate with publications such Dailyfaceoff.com and The Nation Network where readers will be able to view odds and analysis from PointsBet experts.
With international merchants set to move into Canada’s gaming industry, more revenue and collaborations are definite possibilities. As time passes on, Canada’s online gaming industry will showcase why it is going to be one of the most popular gaming markets to watch out for in North America.
