Ontario is celebrating the first year of the iGaming market for third-party operators, but on the other hand, more brands are entering the field. Finally, Neo.bet announced that it has obtained permission from the Ontario Alcohol and Game Commission to conduct legitimate online casino and sports betting services in Canada’s most populous state.
Canada witnessed the opening of Ontario’s private market on April 4, 2022, the first for Canada. It is run by AGCO and its subsidiary IGaming Ontario, and aims to end the offshore market in jurisdiction and prevent local journalists from pouring millions of dollars into unregulated websites while maintaining some of its revenue for the state economy.
Neobet announced Ontario’s entry into the segment on Tuesday, just over a month after the brand received permission from AGCO. Now, the German-based brand offers locals a choice of both sports betting and esports markets. The company has domestic licenses in Germany and Malta, and the Neobet portal is owned by Reactive Betting Inc.
Local bets can now access Neo.bet via the desktop version or by downloading a mobile app for both iOS and Android phones. The sports book is popular for its low margin offering and its creed of “bidging service for professionals made by professionals.” It comes with a number of football/soccer leagues to bet on, as well as leading sports in North America.
Currently, the operator has been estimated to provide monthly odds-on bets for more than 25 sports and more than 9,000 live events. In addition to that, the operator also offers live video streams from esports to enrich live betting content. Its users can bet on major video game tournaments such as League of Legends, CS: GO, Overwatch, and Dota 2.
According to the statement, Ontario’s market began operations on April 4, 2022, leading to its first anniversary earlier this month. According to AGCO, more than 40 private operators now oversee and operate more than 80 different websites in the state. This is the first market of its kind in the country and the industry hopes other states will follow suit.
Meanwhile, Ontario regulators reported that local players made more than CA$35.6 billion in bets over the 12-month period for online gambling and sports betting. This generated revenue of approximately CA$1.4 billion, making the segment among the top five iGaming jurisdictions in North America. Active players also spend about C$70 per month on one of the legal options.
In addition, DraftKings, one of the licensed operators, announced that baseball was the most betting sport in the state in its first year and was not widely popular hockey. The Toronto Blue Jays were the most-baked team by local online betters, while Aaron Judge of the New York Yankees was the most-baked player in the first 12 months.
BY: 에볼루션 바카라사이트