PointsBet Provide First Report on Revenue Numbers in Ontario With $14 Million Handle

PointsBet Provide First Report on Revenue Numbers in Ontario With $14 Million Handle

Australian bookmaker, PointsBet, are the first operator to report on revenue numbers from the newly regulated Ontario online gambling market. In their Q2 report for 2022 PointsBet showed a $14 million handle (wagering) figure for the province.

The period runs from 1st April 2022 to 30th June 2022 and therefore includes the months from the launch of regulating gaming in Ontario which was on 4th April.

These figures will be viewed with interest across the industry as they represent the first actual report of handle and wagering from any operator licensed there. We are still waiting on the first overall revenue reports from the Alcohol and Gaming Commission of Ontario (AGCO) that will give a more accurate indication of the size of the province’s newly regulated casino and sportsbook market.

So far there are around 20 sportsbooks taking bets under license from iGaming Ontario including big names like Bet365, 888Sports and Casino, BetMGM and Leo Vegas.

With a population of 14.57 million there are hopes that Ontario will compete with some of the largest states of the US at the top end of North America’s growing legal sports and casino betting markets.

PointsBet reported approximately a 4.2% hold on sports betting wagers – around $588,000 – and 7,239 wagering customers.

In a conference call to discuss the company’s latest figures, PointsBet CEO Scott Vanderwel stated that the operator was pursuing a strategy of creating a localised brand and product to set its sportsbook and casino apart from the competition.

Vanderwel said: “PointsBet is a new brand in Ontario, so we continue to focus on building awareness of who we are given the levels of competitive intensity, with 19 licensed operators and existing grey market providers still in operation.   Our approach has been to stand out from the sea of sameness that customers are seeing through mass media and to engage with our target customers more directly through our strategic partnerships with key sports teams and organizations.”

As reported previously on these pages, this includes partnerships with golfing giant, Club Link, and sponsorship of the Ottawa Redbacks Canadian football team. PointsBet will be able to advertise throughout the golf clubs owned by ClubLink and on the backs of the team jersey’s for the Ottawa football team and throughout their home ground, TD Place.

Deals like these, as well as online and offline marketing of the PointsBet brand, have lifted advertising costs relating to Ontario to $7 million for the 3 months period from April to June.

The operator hit the headlines for the wrong reasons back in May when the AGCO announced that a $30,000 fine had been issued to PointsBet for breaches of advertising regulations that ban inducements to bet in Ontario.

PointsBet is live in 10 different US states as well as Australia and Ontario.

You can find the latest licensed sportsbooks and casinos in Ontario on our Ontario Online Casinos page (note – we do not publish details of sign up offers for Ontario sites as it is prohibited under regulation).

Author


Mark Wadie

Mark is Senior Editor at The Casino Heat. He has extensive knowledge of the gambling industry through his work at top tier sportsbook, casino and slots operators. His writing covers brand and product reviews, strategy guides and feature articles on the industry in the UK, US and Canada. Mark oversees all the content on The Casino Heat website.

Author: Genesis Fleming