The Ontario government has announced that it will be creating a new regulatory framework for online gaming similar to the way you would find in Canada and other jurisdictions. The approach is expected to come into effect by October 2020, with the goal of reducing costs for consumers and increasing competition for players amongst different operators on both home turf and abroad.
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Leading gaming companies like FanDuel and PointsBet have lately discussed some of their tactics and ideas for maximizing the benefits of Ontario’s new iGaming sector. The competition in the next market, which is anticipated to start in the coming weeks, will be strong, since several other gaming firms have sought for licenses.
Because of its 15 million citizens and their betting behavior, Ontario’s open iGaming industry for private operators is seen as having enormous potential. Nic Sulsky, CCO of PointsBet Canada, and Conor Murray, Senior Growth Director of FanDuel, spoke at a Western University online panel on sports betting on Saturday.
Plans and Concepts
Mr. Murray from FanDuel revealed some of the company’s initiatives to solidify its position as a top brand in the industry throughout the hour-long chat. According to him, the company is recognized worldwide as a sportsbook in the United States, which is both a benefit and a problem since it would have to prove local legitimacy. He feels the firm should approach Canada differently than it does the United States.
Mr. Murray said unequivocally that the company’s goal is to make athletic events more engaging and exciting for spectators. He cited an example of betting on Fred VanVleet to make four or more three-pointers while watching the Toronto Raptors in a CA$5 same-game parlay while watching the Raptors. Then, since they would be paying careful attention to the happenings, bettors would be considerably more involved in the game.
PointsBet Canada is NBC Sports’ official sports betting partner, and its CCO, Mr. Sulsky, believes it requires a more focused strategy since it does not have the same resources as FanDuel. He claims that the corporation will have to outthink its rivals since outspending them would be impossible. Building an interesting brand that would help the firm stand out was one of the things he brought from his former company.
He also feels that PointsBet has to establish a genuine relationship with fans and understand what it means to be a Canadian sports fan. He also believes that the firm has an edge over its competitors since it owns and controls its whole technology stack. One of the firm’s key draws for new audiences is its cutting-edge in-game play technologies.
Yet Another Competitor
Back in November last year, FansUnite emerged as Yet Another Competitor of being a major sports and iGaming brand in Ontario’s new regulated framework. The company formally submitted its application to become a fully registered gaming-related supplier to the Alcohol and Gaming Commission of Ontario. FansUnite already operates in the UK and Malta, and it is looking to debut on its home turf – Canada, by acquiring a license.
According to a recent research completed for Great Canadian Gaming Corporation by HLT Advisory Inc., Ontario’s online expansion may be bad news for land-based casinos. The open iGaming sector, according to the analysis, could cost the brick-and-mortar gaming industry over CA$2.8 billion in losses, as many gamblers would move to online options.
Greg Warren, “PointsBet, FanDuel Talk About The Best Way To Break Into The Ontario Sports Betting Market,” SportsHandle, January 24, 2022.