The Ontario Sports Betting Scene After the First 3 Weeks

It has been just three weeks since single-game betting officially became a thing in Canada. Ontario kicked off the festivities with a much-anticipated launch on April 4 of 12 online sports betting sites. Some of the industry's biggest global players went live with the most comprehensive sports betting platform Canada has ever seen.

Results have been tricking in on just how well sportsbooks in Ontario have fared since they went live on April 4, but early indications are that the overall scene has performed admirably so far. Morgan Stanley analysts, thanks to some statistics from GeoComply — a company that tracks sports betting transactions globally — said Ontario’s sports betting operators “are off to a solid start.”

With the NHL's Toronto Maple Leafs winding down an extremely successful 2021-2022 NHL campaign, the NBA's Toronto Raptors defying most people's expectations and in the midst of their own playoff run, and the Toronto Blue Jays looking like one of the most exciting teams in MLB, it could be a good opening month for the Ontario sports betting industry.

No Real Surprise of Reported Success in Ontario

The Ontario legal sports betting market has always been on the radar of competing sportsbooks globally. With 15 million residents, Ontario would rank in the top five most populated states if it were located south of the border. New York, whose legal sports betting scene has generated $1 billion handles every month since its launch in January ranks above Ontario in terms of population. Pennsylvania, which would rank just below Ontario, is a shoo-in to generate between $500 million-$750 million per month from its legal sports betting scene.

Ontario is a sports-crazed province that is expected to put up some impressive sports betting numbers. Anything between New York's peak of $1.3 billion in a single month and Pennsylvania's year-long low of about $500 million for a month would be a success for Ontario.

We will have to wait a few weeks however until the April totals are officially released.

Leading Sportsbooks

Yahoo Finance reported at the end of last week on which sportsbooks have been the most successful in terms of mobile sign-ups in the Ontario market so far. The data showed that three sportsbooks are separating themselves from the pack in terms of downloads, even though we don’t yet have any measurable numbers out of the province.

In a slight shock, it was homegrown theScore Bet that led the way in terms of downloads for their sports betting app in the first two-plus weeks of operation. According to Morgan Stanley data, theScore Bet garnered about 35% of the sportsbook downloads reported between April 4 and 20.

Check out the latest comprehensive and most trusted Ontario Sportsbook Reviews by SBR here.

That same data revealed Bet365 as the second-most downloaded app in the Ontario market for the first two weeks of operation. Bet365 enjoyed 27% of the overall sportsbook download activity with FanDuel Sportsbook the third most popular sports betting app with 16% of the province's downloads.

BetMGM was fourth with 9%, and Betway and 888 had about 4% of the sports betting app downloads in Ontario. PointsBet Canada was at 3% and BetRivers took in 2% of the overall sports betting downloads in the newly expanded, regulated market.

Overseas Books Dominated Estimated Market Share

Barclays was able to dive deep into a study by H2 Gambling Capital, a company that broke down what they think the market share numbers are for participating sportsbooks in the Ontario market. Their conclusion was overseas books are the dominant brands.

H2 identified Betway as the company with the biggest market share, despite coming in down the list in terms of app downloads. The company estimates that Betway quickly secured about a 28% market share in Ontario, thanks in part to their elite online casino that is tied into their sportsbook options.

Bet365, another overseas operator is estimated to have claimed an 8% market share in Ontario.

Exposure Isn't A Problem

Those that thought that sportsbooks in Ontario would be easing into their roles in the market were sadly mistaken. Sportsbook advertising has been everywhere since the Canadian government gave the green light to private sportsbooks moving into the Ontario market with single-game betting.

Anyone that watched Winter Olympic coverage in Canada saw more than their share of BetRivers commercials. Anyone tuning into a Blue Jays game can't help but see advertising from the team's official sports betting partner, theScore Bet.

PointsBet Canada is about to ramp up its exposure thanks to a multi-year sports betting deal with Maple Leaf Sports & Entertainment (MLSE). Get ready to see PointsBet branding at games hosted by MLSE's Toronto Maple Leafs, the AHL's Toronto Marlies, Raptors, the CFL's Toronto Argonauts and Toronto FC of MLS.

PointsBet already had partnership deals in place with Curling Canada, Alpine Canada, the NHL Alumni Association, the Ottawa REDBLACKS, and Canada’s iconic Trailer Park Boys.

FanDuel and BetMGM have signed partnership deals with the National Hockey League. FanDuel has also aligned itself with one of Canada's two leading sports networks, TSN while BetMGM has been flooding the airwaves with Canadian royalty Wayne Gretzky promoting their brand.

The Future

By the end of the first month of operation, the Ontario legal sports betting scene will be populated by 16 providers with many more in the wings, looking for a piece of what should be a lucrative sports betting market. iGaming companies and regulated online casinos have also started to make some noise in the Ontario scene.

The Alcohol and Gaming Commission of Ontario (AGCO) has been busy indeed trying to fill out the Ontario market. It looks as though it won't be too long before the provincial market is saturated. Included in the new batch of legal sportsbooks to go live should be juggernaut DraftKings Sportsbook, which was slow to the launch party in Ontario.

Others rumored to be coming to the party are Bet99, BetRegal, Betsafe, BetVictor, Casino.com Sports, Golden Nugget, MaximBet, North Star Bets, Pinnacle, and TonyBet.

Until then, lawmakers, regulators, other provinces, and bettors in the Canadian market will have their eyes firmly fixed on any tangible sports betting numbers coming out of Ontario.

Make sure to keep an eye on our Live Odds page throughout the week to get the best lines possible and connect with others in the SBR community on our popular sports betting forum.