Monday s announcement that Bally’s Interactive has launched a new sports betting and casino app in Ontario has some people asking how much is too much and at what point will the Ontario iGaming market reach saturation?
Bally s Interactive launched its new sportsbook and casino app in the Ontario market. (Image: Bally s Interactive)According to iGaming Ontario statistics, the province s regulated market, which launched in April 2022, now has 50 licensed operators and 81 gaming websites.
50 Licensed OperatorsOntario is one of the biggest markets in North America. Government-owned Ontario Lottery and Gaming Corporation reports its total gross online casino and sports betting revenue in FY 2023-24 was $630 million, up from $561 million in 2022-23.
The Ontario private market, not including OLG, saw $64 billion in total wagers in FY 2023-24.
Operators must apply for an iGaming operator registration from the Alcohol and Gaming Commission of Ontario (AGCO) and then enter into an operating agreement with iGaming Ontario before opening their doors in the province. There are currently 24 pending operator applications for registration with the AGCO.
Bally Bet Sportsbook CasinoOn Monday, Bally’s Interactive announced that the company launched its new in the province. The updated Bally Bet Sportsbook Casino app combines the functionalities of the existing Bally Casino app and Bally Bet Sportsbook app into one comprehensive platform.
Powered by White Hat Gaming, this new app allows players residing in or traveling to Ontario to place wagers on both sports and casino games using a single app, account, and universal wallet.
One industry observer said of the announcement, “I can’t see it moving the needle for them too much here given how over-saturated Ontario is.”
How much revenue private iGaming operators not named are actually generating in Ontario is an issue. The industry source added that the “only way this makes sense (for Bally) is if it’s pushing the same new app out to every state they operate in (and the agenda seems to be to get a license in every state that opens).
Bally’s Interactive launched its online casino in Ontario in July 2022, just after the market went live.
Need a Defined Strategy“I think the obvious answer to the question of saturation in the Ontario market is a loud yes,” said Aly Lalani, an iGaming marketing consultant and industry vet.
I know not all operators are created equal but at the starting point that s a lot of competition. I absolutely think there is room for new operators in the Ontario market, especially ones that can leverage the credibility of a name like Bally s.
Lalani added that it s crucial for brands to have a clearly defined strategy for market entry and share acquisition.
Rude Awakening“It doesn t have to be hyper specific and can take the form of a differentiated marketing strategy, product experience and/or promotional strategy,” Lalani said. “Any brand that willingly comes into the market and wants to be all things to all customers without a definitive understanding of their target customer is going to be in for a rude (and expensive) awakening.
Another industry source told Casino.org that the issue of over saturation is overblown. In Bally s case, the source commented that they ve been in the market for a while, and all they re doing is offering a better product.
Ontario is a competitive market offering a wide selection of options for consumers. Gaming operators understand the market and will compete on product and service and ultimately it is the customer who will decide who’s successful and who isn’t, said Canadian Gaming Association president and CEO .
