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We use cookies to give you the best online experience. By using our website, you consent to their use. On Monday, the Curaçao-based sportsbook revealed it had received regulatory approval to operate in Ontario.
Online banner for Pinnacle with Toronto skyline. The company, which has operated as a gray market sports book in Canada for years, announced Monday that it has received approval to operate in Ontario’s regulated online gaming market and will soon launch its new sports book in the province. (Image: Top)
Monday’s release comes after the Alcohol and Gaming Commission of Ontario (AGCO) approved Pinnacle for a two-year internet gaming license. The website, Pinnacle.ca, is not live as of Tuesday morning, and the company said it will soon launch in Canada’s most populous province.
We have a strong and fair regulatory system, with an informed sports and betting audience, and we are excited to bring our ‘Winners Welcome’ mantra to market and take Ontarian betting to the next level,» Smith said. said..
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In addition to getting its sportsbook approved, the company also announced its Pinnacle Solutions business-to-business platform and received approval from AGCO. It may provide trading and risk management services to other Ontario sports books.
While Pinnacle offers betting on many US events, its website states that it does not accept bets from any bettor physically located in the US, regardless of residency status or is a visitor. .
Pinnacle is known as a sportsbook that seeks to acquire customers by offering small wigs or juice in markets rather than promoting large signup bonuses or other attractions. This could play well for the brand as Ontario regulations prohibit public advertising of such advertisements. Licensed sportsbooks may not offer these incentives on their websites or through marketing if the bettor agrees to receive them.
The company operated as a gray market operator in Ontario. But when regional authorities decided to establish a regulated gaming market, they devised a way to allow entry into these sports books.
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Other companies operating in the gray market have also gone, including Sports Interaction. Entain’s Electraworks Maple Limited division operates the new site. Before the approval two weeks ago, SportsInteraction was operating as part of the online gaming unit of the Mohawk Kahnawake Council in the province. Mohawk Online Ltd. continues to operate Sports Interaction in other parts of Canada, Mohawk Online CEO Dean Montour said.
Last month, a survey of Ontario gamblers published by Betting Hero found that bet365 was the best choice among licensed sportsbooks. This was likely because around a third of those surveyed had previously placed bets with the British-based operator before it launched regular online sports betting and iGaming five months ago.
PointsBet global CEO Sam Swannell said in an analyst call two weeks ago that not all gray market sportsbooks in Ontario have stopped operating. Outside operators continue to have a substantial presence in the province even as regulated operators have begun operations.
As of Tuesday, iGaming Ontario (IGO) reports that there are 40 regulated online sports betting, iGaming, and poker sites in the province.
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During the first quarter (April 4-June 30), the 31 regulated sites in Ontario that were alive during that period brought in CAD$4.08 billion (USD$3.11 billion) in treatments and CAD$162 million (USD$123.5 million) in revenue. Tips, Tools and Resources | PRO BETTORS HQ Best Sports Betting Tips, Tools & Resources | PRO BETTORS HQ Best Sports Betting Tips, Tools & Resources | PRO BETTORS HQ Best Sports Betting Tips, Tools & Resources | PRO BETTORS HQ
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