Soft2Bet Receives Regulatory Approval in Ontario to Enter North American Market

Home » Soft2Bet Receives Regulatory Approval in Ontario to Enter North American Market

A leading casino and sportsbook operator and platform provider, Soft2Bet has received a a Certificate of Registration in Ontario. The regulatory approval granted by the Alcohol and Gaming Commission of Ontario (AGCO) thus brings the online betting and gaming solutions provider another step closer to the launch of its popular brands in the increasingly busy jurisdiction.

Regulated Market Approval:

Indeed, the Certificate of Registration authorizes Soft2Bet to expand in the Canada’s largest province and include Ontario in its portfolio of the world’s largest regulated markets. The provider is looking to launch regulated operators worldwide, is delighted to announce that it has been granted  in Ontario, Canada’s largest province, moving it one step closer to being able to launch its Tooniebet.com iGaming brand at the earliest opportunity to benefit from the market newcomer’s position with fresh gaming offerings featuring cutting-edge technology and an engaging game play.

Soft2Bet seems to have selected the Ontario market as the province has seen a rapidly growing online sports betting and casino operations since the launch of the regulated market in 2022.  After only two years of operations, the jurisdiction is referred to as the role model of successful wagering and gaming activities carried out in the increasingly safe online betting and gaming environment.

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Ontario’s Story of Success:

Indeed, the Ontario gambling operators have recently reported the figures for the fourth quarter of 2023 to testify about exceptional market results. The sports betting handle increased 21% to CA$17.2 billion (US$12.65 billion) to generate a 22% sports betting revenue increase to CA$658 million (US$484.05 million). The online sports wagering revenue level standing as the highest in the Ontario’s wagering history was almost mirrored by the online casino operations. This market has continued to grow to handle a total of CA$13.7 billion (US$10.08 billion) in stakes and generate CA$471 million (US$346.49 million) in gros gaming revenues to launch the Ontario market figures to the record levels.

Looking to Expand Across North America:

Having secured the Certificate of Registration in the seemingly comfortable Ontario gaming environment, Soft2Bet is looking to enter the market and use it as a stepping stone for expansions across North American jurisdictions. For this reason, the company is working to secure a gaming license in New Jersey to be able to simultaneously increase its presence in multiple North American markets. The company relies on its extensive iGaming product range, as well as a proprietary game developments, to focus to Canadian and US markets after it secured a stable market position in Italian, Greek and Romanian jurisdictions in 2023.

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Elisabeth Isaksson, Head of Regulatory Compliance at Soft2Bet, reportedly commented: “Being registered with the AGCO in Ontario is testament to the work our compliance and regulatory teams are doing daily to enable our continued expansion in the world’s largest regulated markets. 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.” 

Chief Business Development Officer Martin Collins said:“This Ontario certification is another significant and important step in our corporate expansion plans. It fits perfectly with our stated aim of growing our regulatory footprint and we very much look forward to continuing forward on this path.”    

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