The Ontario online casino scene continues its expansion, with yet another online casino provider inching towards final approval.
Just days ago, Soft2Bet was granted the Certificate of Registration by the Alcohol and Gaming Commission of Ontario (AGCO), taking a big step towards full admission into the Ontario igaming scene.
AGCO is the province’s top gaming regulator, overseeing all activities related to online gambling, including online casinos, sports betting, and poker sites.
Soft2Bet Set to Launch Tooniebet in Ontario
With the first steps in regulation, Soft2Bet should be launching its online casino platform in Ontario in the near future.
The company will launch a brand new online casino called Tooniebet, specifically created for the Ontario igaming market.
“We’re immensely excited about taking our first steps in North America and look forward to licensing and launching in more jurisdictions in the region,” Soft2Bet Head of Regulatory Compliance Elisabeth Isaksson stated in the company’s press release.
The new online casino will join a thriving Ontario casino market, which recorded $13.7 billion in handle last year, compared to just $3.1 billion from sports betting, suggesting the popularity of casino games in the province.
Soft2Bet will be entering the market with both an online casino and a sports betting product, as the company offers some of the best igaming solutions out there.
Currently, the Soft2Bet igaming platform includes thousands of popular casino games, including titles from premium software developers like NetEnt, Pragmatic Play, Evolution, Playtech, Greentube, and many others.
Once deployed, Tooniebet will present one of the top picks for Ontario online casino players, although it will have its work cut out with dozens of other operators competing in the same space.
“This Ontario certification is another significant and important step in our corporate expansion plans,” said Soft2Bet Chief Business Development Officer Martin Collins, suggesting the company’s interest in further expansion across other regulated markets in North America.
Thriving Online Casino Market Continues to Grow
While online casino games are popular in markets across the world, their success since launching in Ontario in April 2022 has been remarkable.
In a short period of time, a total of 66 igaming brands have been registered and licensed by AGCO’s iGaming Ontario, and those brands have collectively taken in more than $80 billion in handle, the majority of which came from online casino games.
While sports betting continues to be the biggest contributor to the igaming handle in other North American markets, Ontarians seem to enjoy online slots and live table games more, allowing brands like the upcoming Tooniebet to compete for a massive market.
Yet, with more and more brands entering the market, it is only a matter of time before the Ontario igaming scene becomes oversaturated and some of the companies are left in the dust.
For companies like Soft2Bet, the new market presents both an interesting challenge and a big opportunity as they continue to push into new regulated markets and await for more regulation to be passed across North America to allow for further expansion.
