It’s all systems go for Kambi, the sportsbook partner of choice for many B2C providers worldwide, in the new online gaming market in Ontario.
A new iGaming market takes Ontario into new territory
Officially open as of Monday, April 4, the new market is designed to regulate online casinos and sports betting apps and sites, in a bid to provide a safe future for burgeoning markets.
With this newly regulated iGaming industry, consumers can feel safe in visiting and playing with approved operators who have gone through rigorous approvals processes to comply with industry standards.
For providers, it’s a way to ensure they have a future within the region as a respected and known operator, plus give back to the community in an equitable framework.
The leadup to the launch
In the leadup to the launch of the iGaming market in Ontario, operators were invited to register with the Alcohol and Gaming Commission of Ontario, which required strict compliance with regulatory standards. The operators were also asked to cease current operations until the start date.
Kambi and other players in the new market
Kambi is welcomed to the market alongside other familiar faces in the iGaming scene including 888, PointsBet, Rivalry, and more. The rules that operators must comply to include removal of autoplay features, a minimum of 2.5 second spin speed for casino slots, and the banning of a multi-screen slots play. There is also the requirement to show total player balance in Canadian dollars instead of gaming credits on the screen at all times. These are similar rules as those introduced in the UK in 2020, and follow stricter industry regulations.
The Alcohol and Gaming Commission of Ontario (AGCO) published its exhaustive iGaming, sports and event betting regulative criteria last September 2021. Said document detailed amendments to advertising conventions and adherence to regulations. These updates are essential for both operators and affiliates. Simon Li from NoDepositFan.com was however a little sceptical saying “Some of the requirements make it impossible for players to make an informed decision, like removing bonus details from all advertising.”
Kambi as a market leader
Kambi’s 2021 Annual Report shows them as a clear leader in the sports betting field. With excellent technology supporting 40 partners across six continents, and a listing in the Nasdaq First North Growth Market in Stockholm (KAMBI) the company is going from strength to strength.
Kambi’s revenues grew by 38% in 2021, to €162.4m, including a 40% growth in operator turnover. In the US, Kambi products were launched in six states during the course of just the year, bringing the total to 18 states since the repeal of the PASPA legislation. The company also achieved three EGR B2B awards, two VIXIO Global Regulatory Rewards, two Global Gaming Awards, and one Gaming Intelligence Award.
The future for Ontarian iGaming
It’s clear that the launch of a regulated iGaming market will help Ontarians better navigate the world of online gambling. With the launch of this market, consumers can have faith in the quality and regulation of the games they’re playing, rather than be concerned they are playing black market games that may rip off the player.
Much like regulated markets in the UK and US, it is up to the regulators to set fair regulations that will allow players to play without fear of losing too much money, as well as allow new entrants to attract players in a competitive market. Keep your eyes on this space to see how it all plays out.
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