The Alcohol and Gaming Commission of Ontario is busy even after the start of the new year, as the regulator licensed its first iGaming brand for 2023. This week, leading platform provider and operator Mobinc reported that it has received the nod from the AGCO to join Ontario’s internet gaming and sports betting market for private operators and debut its Conquestador brand.
The Province of Ontario opted to open the first open iGaming market in Canada for private operators, which kicked off operations on April 4, 2022. The new market was introduced as a measure to regulate offshore gambling websites, and prevent locals from pouring billions of dollars outside of the province. Thus, keeping some of the revenue for the province’s coffers.
First Approved Operator for 2023
This week, the operator became the first one to be licensed to join Ontario’s iGaming model in 2023. Once it goes online, the gaming brand will be able to offer its casino, live gaming options, and online sportsbook services to Canada’s most populous province. It will be also eligible to cooperate with other provincially regulated iGaming brands.
Mobinc is confident that its Conquestador will provide local bettors with a place for safe and responsible gambling. Similar to other licensed brands, the online casino platform is expected to abide by the highest standards of responsible gambling. It should be noted that the gambling brand also holds licenses from the Great Britain Gaming Commission and the Malta Gaming Authority.
Speaking on behalf of the gambling brand, its representative Sergei Belikov commented that the launch in Ontario is a tremendous start to the new calendar year for Conquestador. He also notes that the license is a huge milestone for the platform and Mobinc which continue to expand their exposure in the global market. He is now looking forward to partnering with other brands in the province.
More on the Market
In the fall of 2022, AGCO published its second-quarter financial report on the province’s online gambling market. It applied for the period of July 1 through September 30, 2022. In Q2, operators reported higher than Q1 handle with a total betting volume of CA$6.04 billion. This translated to over CA$267 million in wagering revenue.
At the time the sector had 24 operators and 42 gaming websites online, as well as approximately 628,000 active online users. They had an average monthly spend of CA$142 per customer. It is projected that the market will outperform Q2’s numbers, as more and more operators have entered the sector as provincially licensed platforms by AGCO.
It should also be noted that October 31, 2022, saw the end of the transitional period for operators to make the switch from the grey market to the regulated one. The AGCO warned that third-party brands that have not made the deadline could face severe consequences. For instance, the regulator may refuse to issue them a license in the future or impose on them monetary fines.