While the wait was slightly longer than anticipated, DraftKings finally made its entrance six weeks after the launch of regulated sportsbooksOntario sports betting and iGaming sectors, entering the market on Wednesday as one of the industry's giants.
The prominent Boston-based sports betting company fulfilled its commitment to establish operations in Ontario this May, announcing it received approval from iGaming Ontario and has officially launched its services.Ontario online casino and sports betting platforms.
According to Jason Robins, co-founder, chairman, and CEO of DraftKings, the company's debut in Canada with their online sportsbook and casino offerings marks a key achievement in their growth strategy, as they engage with nearly 40% of Canada's overall population. 'We are eager to deliver an exhilarating and responsible gaming experience to the enthusiastic sports fans in Ontario,' he stated in an official press release.
Earlier this week, DraftKings Sportsbook Ontario secured a license from the Alcohol & Gaming Commission of Ontario, which designates them as a recognized online gaming operator. However, before going live, these operators are required to establish arrangements with iGaming Ontario.
According to the information available on iGaming Ontario's website, there are currently 23 licensed platforms operated by 15 different companies already functioning in the province.
Earnings Call Indicated Q2 Launch
It was increasingly clear that a launch was imminent this week. During a recent earnings call with investors, Robins and CFO Jason Park shared insights about the company'swould launch in Ontario in Q2 , likely May.
Robins commented, 'Given the presence of grey market competitors, many of whom have operated in Ontario for years, we believe that the timing of our entry will not affect our market share in that region.'
DraftKings is now navigating a highly competitive landscape in Ontario, as several prominent sites went live in early April, including BetMGM,PointsBet Canada theScore Bet, Caesars, and FanDuel. It is also anticipated that BetRegal will soon enter the market.
The most recent sportsbook to start operations wasNorthStar Bets NorthStar Gaming, based in Ontario, which went live on May 11.
DraftKings DFS Shut Down
With the launch of its online sportsbook and casino services, DraftKings Ontario has stoppedits Daily Fantasy Sports operation in the province.
On Monday, users of Ontario's Daily Fantasy Sports received a notification from the company:
'DraftKings is thrilled to announce the upcoming launch of its online sports betting and casino services in Ontario. However, please be advised that users who are located in Ontario will not be able to participate in DraftKings' free and paid daily fantasy sports contests.
'Starting at 10 a.m. ET on May 17, 2022, participation in Daily Fantasy Sports on DraftKings will only be available to users in eligible Canadian provinces and U.S. states. While we understand this may be disappointing for our dedicated daily fantasy sports community, we are committed to collaborating with the provincial government to potentially reinstate daily fantasy sports availability in Ontario as swiftly as possible.'
RivalFanDuel Sportsbook Ontario had previously discontinued its fantasy sports operations due to Ontario's iGaming regulations, which prevent DFS players from competing with participants outside their province. Having the ability to engage with players across jurisdictions is crucial for DFS players, similar to online poker participants who value liquidity.
Fromdeereplanet.com
