Soft2Bet Adds Ontario to List of Global Jurisdictions

A fan waits outside the Rogers Centre as we look at the launch of Soft2Bet in Ontario — A fan waits outside the Rogers Centre before the game between the Kansas City Royals and the Toronto Blue Jays during game four of the American League Championship Series at Rogers Centre on October 20, 2015. Photo by Tom Szczerbowski/Getty Images via AFP.

Soft2Bet, a leading provider of online betting and gaming solutions worldwide, has revealed its expansion into the North American market. This move comes after obtaining the required Certificate of Registration from the Alcohol and Gaming Commission of Ontario (AGCO). Several top sports betting sites from Soft2Bet are now accessible in Ontario.

Soft2Bet is getting ready to launch tooniebet.com in Ontario, Canada’s only legal iGaming province, aiming to become the newest sports betting app in the region. Ontario is known as one of the largest regulated gambling markets globally.

Soft2Bet has successfully entered the North American market and is now expanding into the thriving Ontario sports betting market, which has exceeded expectations since its launch in August 2021 and the introduction of iGaming in April 2022.

Gaining entry into the Ontario market could potentially speed up the process of obtaining a license in New Jersey, another prominent iGaming jurisdiction in North America.

Elisabeth Isaksson, the Head of Regulatory Compliance at Soft2Bet, expressed her excitement about the company’s registration with the AGCO in Ontario. She highlighted the dedicated work of the compliance and regulatory teams that have paved the way for their expansion into one of the world’s largest regulated markets. Isaksson emphasized their enthusiasm for entering North America and their plans to obtain licenses and launch in additional jurisdictions in the region.

Martin Collins, Chief Business Development Officer, expressed excitement about the Ontario certification, calling it a crucial step in the company’s expansion plans. He noted that the certification aligns with their goal of increasing their regulatory presence and expressed eagerness to continue progressing in this direction.

What is Soft2Bet?

Soft2Bet is a prominent player in the international iGaming and sports betting industry, with a significant presence in Italy, Greece, and Romania, in addition to holding over 10 remote gambling licenses globally. The company aims to establish itself as one of the top sportsbooks in Canada and make a lasting impact in the market.

Soft2Bet is set to introduce a cutting-edge and unique online casino and sports betting platform to the Ontario market. The platform has been recognized with prestigious awards such as “Best Online Casino Product Of The Year” in Malta, “Online Casino Provider Of The Year” at the Sigma Awards, and “Platform Provider Of The Year” and “Northern European Operator Of The Year” at the SBC Awards.

The Ontario market

Since its inception, Ontario’s iGaming and sports betting market has shown consistent growth. Each quarter has seen an increase in both wagering activity and revenue, with the fourth quarter of 2023 being particularly successful. Currently, there are 30 legal sports betting apps available in Ontario.

Ontario iGaming sites in 2023 saw $59.3 billion in accepted wagers and generated $2.26 billion in revenues, solidifying the province as one of the leading legal gambling markets in North America.

Those figures indicated robust year-on-year growth from $21.64 billion in 2022 to revenues of $866 million.

The Ontario iGaming industry experienced significant growth in Q4 of 2023, with regulators reporting a 21% year-over-year increase in wagering activity to $17.2 billion and a 22% year-over-year revenue increase for the quarter.

Competition will be fierce

When tooniebet.com launches in the Ontario market, it will encounter strong competition from the top providers in North America.

Soft2Bet faces a significant challenge from major players like bet365, FanDuel, and DraftKings as it competes against 30 other Ontario sports betting sites.

Written By:
Davis Isabela

Davis Isabela is the Editor-in-Chief of Underscoreg Review. He has been a writer, reporter and editor for more than 20 years, and his work has appeared in more than 200 publications across North America. His first book, “100 Greatest Canadian Sports Moments”, was a hardcover best-seller in Canada in 2008. He has written more than 50 sportsbook reviews and dozens of other sportsbook-related content articles. James has also been quoted as a sports betting expert in USA Today and Sports Illustrated.