It's safe to say that everyone in Canada is eagerly watching the developments in this area.Ontario sports betting and iGaming rollout.
This heightened interest is particularly relevant for major payment processors, including Paysafe Group that is based in Montreal, which has established partnerships with the Ontario Lottery and various operators in the province.
TheWe are in the early phase of sports betting in Ontario. The integration of sports betting and iGaming is ushering in a transformative period for gaming in Canada, moving away from reliance on unregulated markets to a secure and equitable system benefiting all residents.
deereplanet.com recently spoke with Greg Kirstein, the vice president of business development at Paysafe Group, to discuss the company's expansion plans in Ontario and their vision for the future of sports betting and iGaming.
The following is a summary of that discussion, formatted for conciseness and clarity.
Ontario has the potential to rival the largest gambling markets in the United States.
OntarioBets: There's considerable discussion indicating that the sports betting market in Canada could rival some of the most lucrative legal markets in the U.S. From your perspective, do you think that’s a fair observation? Ontario online casino Greg Kirstein : Honestly, I believe it might be a bit soon to draw conclusions since we only launched just before the finale of March Madness. At this stage, we've yet to fully experience the range of sports typically available, especially not fully during the NFL season.
However, Ontario boasts a significant portion of Canada's total population — nearly half, if not more — and is also home to many professional sports teams, including the Toronto Raptors, Maple Leafs, Blue Jays, and a Major League Soccer team.
Clearly, Ontario is the heart of sports culture in Canada. Early data and customer engagement reveal an incredibly exciting market, especially during March Madness, which marked our launch day for online sports betting in the province.
Industry experts predict that once fully developed, the Ontario market could become the fourth largest in North America due to its size, reach, and competitive environment. That said, it’s still too early to offer a processing perspective because we are only at the beginning stage, and operators have not fully initiated their marketing strategies which they will progressively roll out throughout the year.
As we approach the NFL season — after operators have optimized their offerings for a regulated environment — and with the sports action ramping up in September, I believe the true potential of this market will become clear. Additionally, iGaming in Ontario has yet to publicly share its figures from the first week in terms of gross gaming revenue, making it challenging to compare to more established U.S. markets. Still, we are all optimistic it will achieve significant scale by this fall.
OntarioBets: How does the sports betting landscape in the U.S. compare to that in Canada? Will this impact your operations?
Kirstein : The activities involved are fairly similar. In the U.S., there was a lot of pent-up demand due to the challenges surrounding legal betting access. In contrast, Canada had many grey market operators functioning for a long time, promoting their services through various sports and local media channels, aside from the Canadian lotteries.
Thus, the interest in online gambling has been present for quite a while in Canada. However, with Ontario now marketing online gambling, there are payment methods and other factors that are thriving much better in a regulated environment compared to a grey market scenario, with payment processing being a prime example.
I anticipate a further expansion of safe and responsible online betting within Ontario. However, the overall experience is quite comparable to that in the U.S.
It's likely that traditional Canadian sports bettors will differ from their U.S. counterparts. Many companies, including TheScore and others, are focusing on establishing domestic brands and securing local partnerships, such as PointsBet's collaboration with Curling Canada.
This strategy represents an approach not typically found in the U.S., where it's mostly about traditional mainstream sports. While the NFL holds significant importance in Canada, there’s a unique effort to engage diverse consumer interests.PointsBet In the past, despite the quality of existing products, consumers might have sensed an element of uncertainty in interacting with certain betting platforms in the market. Today, under a regulated framework, the engagement is handled in a more secure manner, and many of the new entities in sports betting are forming alliances with sports leagues, greatly enhancing legitimacy — a change that mirrors trends in the U.S.
However, U.S. operators entering the Canadian market may be surprised to find that consumer preferences differ. Canadian sports bettors are likely seeking offerings that resonate more closely with local interests, such as hockey and other sports gaining traction among typical Canadian audiences.
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Recent Q&A
Paysafe Has Roots in Canada
Initially, we aimed to provide solutions for nascent online gaming ventures in the early 2000s, and over time our business significantly expanded until 2006 when online gaming was prohibited in the U.S. We then pivoted to diversify our operations while continuing to serve online gaming companies outside of North America.
Since then, we’ve made significant strides in the North American gaming sector beginning in 2010 when we secured a contract as the exclusive payments provider for Lotto Quebec, marking the start of our reentry into the North American market. This has gradually extended across all provinces, making Paysafe the exclusive payments partner for several provincial lotteries.
In light of our history and growth in Canada, developing robust infrastructure and supporting the evolution of regulated gaming holds immense value for us. It’s exciting as we reflect on the numerous ways we can express this commitment, and for me personally, managing our U.S. gaming sector while being based in Montreal makes our achievements all the more momentous. Witnessing the opening of gaming markets in Canada represents a significant milestone for the company built on ten years of effort and network development.
OntarioBets: Since 2015, you have collaborated with Ontario Lottery & Gaming Corp. How does this experience position your company in Ontario’s legal and regulated iGaming landscape?
Kirstein : Our experience is highly relevant, particularly in Ontario specifically but also throughout Canada as a whole. Players now have various options for funding their online betting accounts. In comparison to other markets, our collaborative work with multiple lottery clients ensures that their transaction processes look markedly different from those in the grey market.
What I mean is that we've placed a strong emphasis on educating financial institutions to recognize the distinction between clean, government-sanctioned gaming transactions through provincial lotteries, as opposed to other operators they might have previously dealt with.
Our initiatives have significantly enhanced the user experience for our Canadian gaming clients, ensuring that banks are approving their credit and debit card transactions, which are clean and associated with state-run provincial lotteries.
Greg Kirstein, the Vice President of Paysafe, discusses how consumers are benefiting from the newly regulated sports betting environment in Ontario.
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It’s safe to say that the focus of attention in Canada is on the
This is particularly relevant for key payment processors in the nation, like Paysafe Group, which is based in Montreal and has established partnerships with the Ontario Lottery and other operators in the area.
the initial phase of sports betting in Ontario
is ushering in a new chapter for gaming in Canada, moving away from reliance on the unregulated grey market to a safer and fairer environment for all players.
Future is Bright for Sports Betting
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Ontario has the potential to rival the largest markets in the U.S.
OntarioBets: There’s considerable speculation that the sports betting sector could reach the same scale as some of the largest legal states in the U.S. Do you believe this assessment holds water?
Greg Kirstein : I would argue that it’s still too soon to determine, especially since we only launched on a Sunday evening right before the March Madness finale. We haven’t experienced a full sports calendar yet, particularly the NFL season.
However, Ontario accounts for nearly half, if not more, of Canada’s total population, making it the most populous province concerning sports teams. With the presence of teams like the [Toronto] Raptors, the Maple Leafs, the Blue Jays, and an MLS team, it is undoubtedly the sports capital of Canada.
The numbers we are observing from March Madness, marking the first day of online sports betting in Ontario, are extraordinarily promising. The local advertising influx and engagement levels we've seen are particularly encouraging.
Experts suggest that, once fully developed, Ontario could become the fourth-largest sports betting market in North America, based on its scale, reach, and competitive dynamics. However, as we are still in the early days of processing, it's hard to conclude just yet. Additionally, operators have not fully activated their marketing strategies, which will unfold over the coming months.
As we approach the NFL season, I anticipate that operators will refine their offerings to better suit the regulated market. Once the sports scene ramps up in September, the true potential of this market will likely become evident. Also, since there’s yet to be public data released regarding iGaming gross revenue for Week 1 in Ontario, it remains uncertain if it will match that of the larger U.S. markets. Nonetheless, there is a collective expectation that it will reach that level once fully scaled, likely by the fall of this year.
OntarioBets: What distinguishes the sports betting practices in the U.S. from those in Canada? How does that impact your business?
Kirstein : In terms of fundamental operations, they appear quite similar. In the U.S., there was a noticeable pent-up demand due to the previously limited options for legalized or conventional betting products. In Canada, aside from the Canadian lotteries, many grey market entities have been in operation for quite some time, advertising through local sports channels.
The focus on online gambling has been present in Canada for various years. However, Ontario’s approach to promoting online gambling—with established payment mechanisms that function more effectively in a regulated market—marks a significant improvement compared to the grey market.
I foresee an increase in responsible online betting within Ontario, although the activity itself isn’t vastly different from that seen in the U.S.
Fromdeereplanet.com
