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Live Blog: Ontario Province Launches Its Regulated Sports Betting, IGaming Markets

The post Live Blog: Ontario Province Launches Its Regulated Sports Betting, IGaming Markets appeared first on SportsHandle.

The wait is finally over.

Ontario‘s regulated iGaming market is set to officially open at 12:01 a.m. ET on April 4, and Sports Handle will be keeping tabs on all of the breaking developments as they happen throughout the day.

Up to 19 operators had been granted iGaming licenses with the Alcohol and Gaming Commission of Ontario as of Sunday, and can launch at their discretion on April 4, providing they also have an operating agreement with iGaming Ontario. However, Sports Handle has learned as few as six operators, and as many as 10, actually plan to launch at some point Monday.

Stay with us throughout the day, as we’ll update our live blog with all of the latest developments.

A complete guide to the launch is available on our partner site, US Bets.

April 3, 11:15 p.m. ET

Unfortunately, the launch of the regulated market is being overshadowed by some controversy.

Offshore sportsbooks that have been operating in Canada for years, such as Bet365, have been forced by regulators to settle all of their futures bets with existing users prior to transitioning to a regulated sportsbook on April 4.

The timing of the launch means that futures bets made on Monday’s NCAA national championship game between Kansas and the University of North Carolina would have to be voided before launch.

Twitter user @gocashking is one of many upset sports bettors to take to social media over the last week, although he says he was at least able to cash out for half the amount of his futures bet on Kansas. According to the ticket, the bettor would win $3,200 on his $200 bet should Kansas win.

 

The NCAA Tournament isn’t the only event affected by the changes. Any season win totals, player awards, or outright odds in other sports also needed to be settled. Each previously-gray sportsbook had the ability to determine how to settle these wagers with customers on an individual basis.

FanDuel and DraftKings also made business decisions to stop offering their daily fantasy sports games in Ontario due to changes in regulations.

April 3, 11:00 p.m. ET

PointsBet Canada was one of the first operators to receive an approved iGaming license in Ontario, and it appears the sportsbook is ready to launch as soon as possible in the province.

To say Chief Commercial Officer Nic Sulsky has been excited about this whole process over the past few months would be a huge understatement. He and his team have been busy setting up an office in Toronto, mass hiring Ontario workers, and inking numerous strategic partnerships ahead of the launch.

PointsBet recently rolled out a new in-game betting product in time for March Madness, and will offer Ontario bettors the chance to do some “PointsBetting” for perhaps the first time. “PointsBetting” allows bettors to accrue increased payouts and losses on their wagers using a sliding scale, unlike traditional fixed-odds betting.

However, some PointsBet users have been angry with odds changing while trying to place wagers at the online sportsbook.

The Australian-based sportsbook has its North American headquarters in Colorado, and is the official sports betting partner of NBC Sports.

 

The post Live Blog: Ontario Province Launches Its Regulated Sports Betting, IGaming Markets appeared first on SportsHandle.

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Author: Micheal May