Ontario has the most extensive regulated iGaming sector in North America. Unfortunately, one of its operators will cease its operations, including sports betting platforms, by the end of this month. Fitzdares informed its clientele about this development earlier this week.Ontario online casino On Tuesday, a spokesperson from the UK-based company confirmed to deereplanet.com that the exit from Ontario will take place at the end of this month.
"We have truly cherished our time in Ontario and built meaningful connections. However, the cost of operating has become unsustainable,\" stated Clive Harris. He also mentioned, \"We are committed to observing the evolving competitive and regulatory landscape as we prepare for some exciting opportunities ahead.\"
Following Fitzdares’ exit, there will still be 49 operators recognized by iGaming Ontario who will be active in the region. These companies operate more than 80 online platforms for casinos, sports betting, poker, and bingo.
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All three operators hail from Europe, and they share similar motivations for their departures.
Several European firms have discovered that the North American markets present significant challenges, particularly due to the heavy promotional and marketing expenditures by competitors like DraftKings, FanDuel, and BetMGM. In the largest province in Canada, operators are restricted from promoting bonuses or enhanced odds unless customers explicitly consent to receive such offers.
Despite the exit of some operators, the iGaming market in Ontario continues to expand. As reported, the licensed platforms generated a combined total handle of $7.84 billion in January, marking a 31% increase compared to $5.98 billion wagered in January 2024.
Of that total, online casinos accounted for $6.51 billion in wagers, while sportsbooks took in $1.18 billion. Additionally, peer-to-peer gaming showed $146 million in betting activity for that month.Ontario betting sites Ontario does not publicly disclose the handle and revenue figures for its operators.
Market Growing; What Could Be Next?
It is highly likely that Fitzdares will not be the last operator to exit Ontario’s iGaming market. Given the fierce competition, other businesses vying for market share may reach similar conclusions. This reflects the dynamics of an open market, where, much like in gambling, there are both winners and losers. iGaming Ontario Ontario's statistics indicate that there is ample space for numerous operators, yet Fitzdares' announcement should prompt other companies to reevaluate their stance in the province. Although the total number of operators has decreased, the competition for Ontario's customer base is intensifying. To excel, operators must discover ways to differentiate themselves positively, whether through innovative offerings, favorable odds, excellent customer service, enhanced advertising, or referrals from satisfied customers.
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Steve is a distinguished reporter with over two decades of experience in covering gaming, sports, politics, and business. He has contributed to renowned outlets including the Associated Press, Reuters, The Louisville Courier Journal, The Center Square, among others. Based in Louisville, KY, he has been closely following the evolution of sports betting across the U.S. and other related gaming topics. His insights are shared on OntarioBets and various platforms.
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