Betano Ceases Grey Market Operations in Canada, Maintains Focus on Ontario's Regulated Sector
In a recent announcement, Kaizen Gaming's Betano brand disclosed its decision to discontinue grey market services throughout Canada, excluding Ontario. Effective December 18, 2023, users residing outside Ontario will no longer have the option to deposit funds, place bets, or participate in iGaming activities on the platform. All existing bets will be voided by December 31, with funds promptly returned.
Betano, headquartered in Greece, is renowned for its soccer affiliations and sponsorship of leading football teams in Europe and South America, including FC Porto, Sporting CP, SL Benfica, Olympiacos, Panathinaikos, POAK, Atletico Mineiro, and Fluminense.
Important Communication for Players
Betano communicated this development to its Canadian user base through its website, emphasizing the suspension of grey market operations. Starting December 18, 2023, the platform will cease accepting deposits and sports bets. Existing wagers on upcoming events will be nullified by the year-end, and funds will be refunded to players.
In its official statement, the iGaming operator urged customers outside Ontario to withdraw funds before January 31, 2024. Sources indicate that this decision aligns with Kaizen Gaming's strategic choice to operate exclusively in regulated markets within the gambling industry.
Ontario's Gambling Sector Performance
Ontario's regulated internet gambling sector continues to thrive, as indicated by iGaming Ontario's Q2 figures for 2023-24, released in October 2023. The province reported a betting handle of CA$14.2 billion and gaming revenue of CA$540 million for the quarter ending September 30, 2023. With 47 operators and 71 active gaming websites, approximately 943,000 player accounts were recorded, each averaging a monthly spend of CA$191. It's essential to note that these figures encompass total cash bets, including various fees, and may not represent unique players due to potential account duplications across different brands.
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We understand the concerns about our decision. Focusing on Ontario allows us to provide a better gaming experience. If you have any questions or need assistance with withdrawals, feel free to reach out to our support team.
Sad to see Betano pulling out of the Canadian market. Loved their soccer sponsorships. Any recommendations for other platforms with similar sports offerings?
Exciting to see the Ontario gambling sector thriving! Those Q2 numbers are impressive. Looking forward to more developments in the local scene.
Voiding existing bets by the end of the year? That's a bummer. I hope they handle the refunds smoothly. Has anyone experienced this with other platforms before?
It's a smart move for Betano to focus on regulated markets. Ontario's got a robust legal iGaming sector, and it makes sense for them to invest in that.