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April 1, 2024

Soft2Bet's Strategic Leap: Securing Certification in Ontario's Booming Gambling Market

Emily Thompson
Written byEmily ThompsonWriter
Researched byPriya PatelResearcher

Key Takeaways

  • Soft2Bet has received a crucial Certificate of Registration from the Alcohol and Gaming Commission of Ontario (AGCO), marking a significant milestone in its North American expansion.
  • The Ontario certification complements Soft2Bet’s growth strategy, paving the way for the launch of its iGaming brand, Tooniebet.com, in Canada's most populous province.
  • This move is part of Soft2Bet's broader aim to expand its regulatory footprint and leverage the burgeoning gambling market in Ontario, which has seen remarkable growth since the introduction of new iGaming regulations in April 2022.

Amid its bold expansion in North America, Soft2Bet has hit a new milestone by securing certification in Ontario, Canada's most populous province and a key player in the online gambling arena. With the Alcohol and Gaming Commission of Ontario (AGCO) granting a Certificate of Registration earlier this week, Soft2Bet is set to amplify its presence in this vibrant market.

Soft2Bet's Strategic Leap: Securing Certification in Ontario's Booming Gambling Market

The certification not only marks a significant stride in Soft2Bet’s North American journey but also brings it closer to the much-anticipated launch of its iGaming brand, Tooniebet.com. Given Ontario's substantial betting and iGaming market potential, this development aligns perfectly with Soft2Bet's strategic vision.

Earlier in January, Soft2Bet had already demonstrated its commitment to expansion by partnering with Hacksaw Gaming in Romania, bringing acclaimed titles to its European audience. This move underscored the company's dedication to broadening its reach and enhancing its offerings across regulated markets.

Martin Collins, Soft2Bet’s Chief Business Development Officer, expressed his enthusiasm about the Ontario certification, highlighting it as a pivotal moment in the company’s expansion narrative. Elisabeth Isaksson, Head of Regulatory Compliance at Soft2Bet, echoed this sentiment, emphasizing the certification as a testament to the rigorous efforts of their compliance and regulatory teams.

Ontario's gambling market has been on an upward trajectory since the province revamped its iGaming and sports betting regulations in April 2022. With operators reporting a 21% increase in wagers and a 22% surge in gross gaming revenues for Q4 2023, Ontario has cemented its status as a leading jurisdiction in North America's gambling sector.

Soft2Bet’s strategic move into Ontario is not just about entering a new market; it's about tapping into a thriving ecosystem ripe with opportunities. As the company looks forward to licensing and launching in more jurisdictions in the region, its journey in North America is just getting started.

(First reported by: Soft2Bet, Date: Earlier this week)

Image credit: Soft2Bet

About the author
Emily Thompson
Emily Thompson
About

Emily "VegasMuse" Thompson is a seasoned online casino enthusiast from down under. With a keen eye for details and an inherent knack for strategizing, she has turned her passion for the online casino world into a successful writing career.

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