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"Cleansed" Offshore Sportsbooks Will Be Welcome in Newly Regulated Ontario Market

Written by:
Aaron Goldstein
Published on:
Aug/18/2022

Wall Street analysts expect the start of Ontario's newly-expanded legal betting industry will be dominated by offshore sportsbooks.

The reason: Ontario Premier Doug Ford's government has offered a penalty-free, "business-like transition" to internet sportsbooks and gambling platforms that for years have handled the betting action of Ontarians from beyond the law's reach.

Once approved by the Alcohol and Gaming Commission of Ontario (AGCO) and its subsidiary iGaming Ontario (iGO), these firms are free to compete with companies that resisted the lucrative online legal grey zone.

Bet365 is among those widely expected to benefit from its years of experience in the Ontario market.

Now if only the U.S. would employ a similar strategy considering how the so-called "clean" gambling companies states are licensing have been embroiled in controversies of late.

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Catena Media Reports Continued Strength in North America Amid More Restrictions Elsewhere

One of the world's largest super affiliate online gambling firms, Catena Media, has reported strong quarterly numbers in the U.S. market while acknowledging tougher trading conditions in several other markets, most notably in Europe.

Revenue dropped by 5 percent in Q2 amid sports calendar seasonality and macroeconomic impacts on player spend in multiple markets.

On the brighter side, revenue growth of 21 percent was realized in the fast-developing U.S. sports betting market despite the seasonal lull in sports.   In fact, most states reported a drastic decrease in revenue generated during the months of June and July.  NJ sports betitng handle fell by 16% based on numbers released this week.

Canada has proven less lucrative for Catena Media thus far with slower than expected initial revenue gains in Ontario following the launch of licensed online sports betting and casino gambling this past April.

High inflation and energy prices contributed to weaker economic conditions and reduced consumer gambling in European markets in both sports betting and casino.

BetCRIS Coming to the Hard Rock

Anybody who is even remotely interested in the lucrative Latin American gambling market will be attending the SBC Summit Latin America 2022 at the Seminole Hard Rock Hotel and Casino this coming this November 1-3 (2022). 

Our friends at BetCRIS will be the platinum sponsors.

Gambling911.com, of course, will be there being we are located just up the street.

SBC Summit Latinoamérica is the conference and trade show for senior executives in the Latin American betting and gaming industry.

The event will bring together the leadership teams and product specialists from retail and online operators in markets including Argentina, Brazil, Colombia, Chile, Costa Rica, Mexico, Peru, Puerto Rico, Dominican Republic, Uruguay and many others to share information about best practice, launching in new territories, localized marketing strategies, and the latest technology.

Pros and Cons of Modeling, Power Rating Adjustments

In this edition of Spaces from Right Angle Sports, pro bettors and originators Mike Craig Eddie Walls discuss pros and cons of modeling, power rating adjustments, and much more. They will finish with a Q&A and maybe give out a CFB regular season win total or two.

Eddie Drnkyourmlkshk

@walls_edward

"I write every single box score and I'm really big on strengths and weaknesses that I create throughout the preseason," Walls offered.  "And then in the middle of the season I'll have more statistics to go with, but if I for instance have a total on a team, I have a read on a team where I think that they're going to be a really good over team. And because their past defense is not up to par, you know whatever? And I don't use one week, but if I have two weeks of substantial evidence.

"That this team is much better than I thought that they were going to be or much worse. I have to make an adjustment. So I use two weeks of you know data if you want. I use two weeks of looking at my number and then I'll slowly start to move it now. There are certain instances where you have to just move A-Team very quickly and very sharp."

"I think that's been one of the big adjustments in the marketplace over the past five years is I think the books are more quickly, they're making the adjustment," Craig said.  "I think the betters were much quicker making the adjustments to a team like that in the past."

Jump to the 3:50 mark to get started.

- Gilbert Horowitz, Gambling911.com

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