As an entire North American industry waits for official reports from Ontario sports betting regulators, individual companies revealed relatively little about the market during their quarterly earnings reports.
The earnings season started promising, as PointsBet kicked it off reporting its ON sports betting handle. Sports betting in Ontario started April 4 and in the quarter, PointsBet took $11.2 million in wagers.
However, earnings reports from other gaming companies kept Ontario updates brief and largely lacked any information of substance. Combined with PointsBet’s low handle, the vague operator details and lack of reporting from provincial regulators do not spell confidence for strong performance in Ontario.
On the flip side, multiple industry sources told that privately operated bet365 could be dominating the market. Bet365 was a gray-market operator in Ontario, giving it an enormous advantage as it transitioned to the regulated market.