Ontario to generate more than $900M in gross betting revenue
When Chris Krafcik, the managing director of sports betting and emerging verticals for Eilers & Krejcik Gaming, approached The Parleh this summer about collaborating on a report around Canada’s new gambling landscape, we said yes with the speed of Andre DeGrasse over the final 30 metres in the 100.
It makes complete sense that the boutique research and consulting firm, which covers pretty much every sector of the global gaming industry, would dig into the Canadian market post-passing of Bill C-218. Not surprisingly, the soon-to-come open market in Ontario received extra attention in the Canadian Online Gambling Tracker Special Report.
For commercial operators, populous Ontario is the most important - and, for now, the only - market entry opportunity in Canada,” Krafcik told The Parleh via email Tuesday. “Indeed, we estimate the Ontario market, once mature, will generate online sports betting gross revenue of $904 million and online casino gross revenue of $1.3b billion. Assuming most of the largest Ontario-facing offshore operators elect to participate in Ontario's legal market, we expect that market will ramp up rapidly.”
Added Krafcik: “We expect a vigorous battle for market share, with Ontario-facing offshore operators that elect to participate in the legal market best positioned to capture material share out of the gate, in our view. After all, such operators appear set to enjoy key structural advantages from day one—namely, databases of already-acquired Ontario online gamblers who have money on deposit—that newly launching brands like theScore will not.”
For the entire report, please click here.