More than half of Ontario’s sports bettors used grey market online before the launch of the provincially regulated market, according to a study by Betting Hero. 25% of local bettors are willing to try a new sports betting app because of promotions. 42% of local sports betting enthusiasts prefer to wager on bet365.
Shortly after Ontario released its first private iGaming market numbers, Betting Hero released research on the province’s grey sports betting market. FansUnite discovered that more than half of provincial sports bettors preferred grey market options before the launch of the regulated market on April 4, 2022.
The provincially-run online gaming and sports betting market in Ontario was privatized by the local government to eliminate grey market operations. The revenue is going to stay within the province. The Ontario Lottery and Gaming Corporation offered the sole authorized online sports betting in the province prior to the opening of the new market.
The findings of the study
Grey market online sportsbooks were used by more than half of Ontario’s sports bettors before the launch of the provincially regulated market. 25% of local bettors are willing to try a new sport betting app due to promotions, it has been found. Almost half of New Jersey and New York have the same percentage, according to the company.
42% of local sports betting enthusiasts prefer to wager on bet365, according to the study. The popularity of the app can be explained by the fact that it was in the grey market for a long time. Similar to the U.S. markets, Ontarians are most likely to wager on football, basketball, and hockey.
According to the study, payments can be an issue for gaming consumers, as 31% of the questioned said that they have experience withdrawal difficulties, saying that the withdrawal process could be slow at times. The percentage is more than double the state of New York. The differences are explained by the fact that Ontario is still working out its new market.
The study shows how Ontario is still dealing with its grey market past, according to the President of Betting Hero. He said that Great White North players are more loyal to their preferred sports wagering platform than Canadian sports bettors, as they are less attracted or aware of the available promotions.
The market numbers are the first of their kind
Ontario has just released its first financial report on its new regulated market. The numbers are not what they were expected to be. In the first three months of operations, the market has generated a handle of CA$4.076 billion, but only CA$161 million in revenue. Not all licensed operators were up and running during the three month period.
Ontario’s gambling industry reflects on the first quarter fiscal results, but the Alcohol and Gaming Commission continues to license operators. Altenar has gained access to the market and gained access to sports betting. Soon, Ontarians will be able to access the operator’s sports wagering products on desktop and mobile devices.
The “Northern Exposure: Revenue Report Reaction, Study On Gray Market” was written by Warren.