The number of operators now live in Ontario sits at 45, with the news Wednesday that Reactive Betting Ltd. has obtained its license in the province and will offer its Neo Bet brand to customers.
Neo.net will be an Ontario betting site, described by the company as a “technically high-quality betting portal (that) gives you the opportunity to place your bet professionally and yet easily. For this we provide you with attractive and innovative features for your sports bet.”
The company is based in Malta.
Market Settling Into Second Year
As Canadian Gaming Association president and CEO Paul Burns says, the online casino Ontario market is starting to settle as it enters its second year. The companies behind Coolbet and Play-On Casino shut down operations in recent weeks, while Reactive is one of what is expected to be many more who jump into the market this upcoming year.
“You’ve got a wide range of products,” Burns said. “You’ve got a fair revenue share structure. You’ve got a strong regulatory regime that took and recognized some of the industry best practices being deployed across other jurisdictions in the world.”
Burns said a number of operators are working their way through the AGCO process, and several companies have expressed their interest to him in applying for a license to operate in the province, where Ontario betting apps launched on April 4, 2022.
“The unique part of this market is that it is going to be built on product and customer experience, not who’s giving away the most money because they can’t do that,” he said. “Maybe for some people that’s a challenge. I think that’s the beauty of this.”
Smaller Players Can Compete Among Major Names
Some of the biggest operators and supplier brands have gone live in a market that celebrated its first anniversary this week. Among the big-name operators are DraftKings Casino Ontario, BetMGM, PointsBet, theScore, FanDuel, Caesars, Rush Street Interactive, Bet365, Kindred and 888.
But Burns said that what has surprised him has been the level of interest from, “smaller players, people who had unique ideas, wanting to try some different types of product offerings, focusing on narrower segments of the marketplace.”
Reactive is the latest example of that, a further indicator Ontario won’t see a scenario where three or four brands are dominating the market, like in some of the U.S. jurisdictions.
You can learn more about the expanding market in the province by checking out our reviews of the best Ontario casino apps, where we provide perks and features from each operator.
