Ontario’s Regulated iGaming Market Completes One Year
Apart from Paramount Commerce celebrating an important milestone this month, Ontario’s regulated iGaming market also completed its first year of operation on April 4th. A year after launch, the market report results are nothing short of impressive. The province’s iGaming industry has surged since its launch, with many of the biggest names in the industry now offering their services to players in the province. This comes at a time when the regulated iGaming and sports betting industry as a whole is experiencing exponential growth.
Ontario’s regulated betting market is a key component of the province’s broader strategy to modernize its gaming industry. Conducted and managed under the oversight of the provincial government and regulatory bodies such as iGaming Ontario, the market has positioned Ontario as a leader in North America when it comes to offering diverse sports betting options, including single-game sports betting, parlay bets, and prop betting on major sporting events. The first year of the province’s iGaming market has been a huge success, bringing in $35.6 billion in total wagers and approximately $1.4 billion in total gaming revenue. These figures have helped the Canadian province establish itself as one of the largest regulated iGaming markets in North America.
One of the reasons behind the market’s success is the wide variety of betting and gaming opportunities available for consumers. Players in Ontario can access everything from online slots and table games to sports betting on events like Toronto Blue Jays games and even horse racing. The involvement of privately operated sportsbooks alongside traditional provincial lotteries, such as those operated by the Ontario Lottery and Gaming Corporation, has expanded consumer choice significantly.
Additionally, payments play a significant role in supporting an operator’s brand awareness and customer loyalty strategies. Many operators in Ontario, and even worldwide, base their success on offering seamless deposit and withdrawal experiences. Paramount Commerce’s Instant Bank Transfer solution has been a standout payment option for the market, offering features such as One-Click repeat deposits, strong bank connections, a robust risk management system backed by machine learning, and a compliant framework tailored for gaming transactions.
Another factor contributing to the success of Ontario’s regulated iGaming market is the high level of security and responsible gaming measures in place. The Alcohol and Gaming Commission of Ontario (AGCO) and iGaming Ontario have worked to ensure that games are fair, operators comply with regulations, and problem gambling initiatives are actively promoted to protect players.
The first year of Ontario’s regulated iGaming market has been a tremendous success, with the province emerging as one of the largest and most dynamic iGaming markets in North America. With a diverse range of games, strong regulatory oversight, and cutting-edge payment processing technology, Ontario is well-positioned to continue its growth and success in the years to come.
