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 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 online gaming industry as a whole is experiencing exponential growth.
Ontario’s regulated iGaming market is a key component of the province’s broader strategy to modernize its gaming industry. The province has been a leader in North America when it comes to offering iGaming options to its residents, and this strategy is paying off in spades. 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.
Two main reasons behind the market’s success are the wide variety of games and payment solutions available for consumers. Players in the province can access everything from online slots to table games, sports betting, and live dealer games. Additionally, numerous iGaming players in Ontario, and even worldwide, base their choice of operators on the availability of innovative payment options in an operator’s cashier. Payments play a significant role in supporting an operator’s brand awareness and customer loyalty strategies. This is where a payment solution such as Paramount Commerce’s Instant Bank Transfer has shone. Built for gaming, players benefit from Instant Bank Transfer’s innovative One-Click repeat deposits feature, while merchants profit from a complaint payment solution that has great conversion rates, strong bank connections, a robust risk management system, and much more.
Another factor contributing to the success of Ontario’s regulated iGaming market is the high level of security and safety that is in place. The province’s regulatory body, the Alcohol and Gaming Commission of Ontario (AGCO) as well as iGaming Ontario have worked hard to ensure that players are fully protected from unregulated operators and that games and messaging are fair and unbiased.
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.