- Legal States
Filip Mishevski March 21, 2022 3 min read
Kambi Group Plc Secures License from AGCO Ahead of the Launch in April
Kambi Group Plc scores big as it secures a “day 1” license from the Alcohol and Gaming Commission of Ontario. With this development, the Stockholm-based sportsbook provider will be able to provide its solutions to sportsbook operators that are licensed by the remote gambling subsidiary of AGCO, iGaming Ontario.
Some of the Kambi Partners Include 888sport and LeoVegas
The CEO and co-founder of Kambi, Kristian Nylén, stated that he’s delighted that Kambi is among the first “sportsbook providers to obtain registration” from Ontario’s commission. He added that the achievement is a testament to the company’s expertise and that Kambi is now excited to provide its partners with its market-leading technology.
Some of the partners of the company who are looking to offer their services to residents in Ontario include LeoVegas, 888sport, Unibet, and MaximBet. Moreover, Kambi announced last month that it partnered with NorthStar Gaming.
NorthStar is preparing to launch NorthStarBets in Ontario and Kambi will be in charge of providing the company with the necessary sportsbook technology.
Online Gambling in Ontario Is Set to Launch in April
In what many consider to be a historic move, officials in Ontario confirmed that online sports betting is set to launch on April 4. The executive director of iGaming Ontario, Martha Otton, stated that bettors can rest assured knowing that all of the operators who will start offering their services on the market will meet the highest industry standards in terms of fairness, player protection, social responsibility, and operator integrity.
Moreover, the Canadian Gaming Association estimates that the gross revenue of the Ontario online gambling market should be close to $1 billion in its first year. After that, the annual revenue could reach $1.86 billion by 2026. Paul Burns, the CEO of CGA, stated that CGA will be able to “safeguard the economic benefits” of the regulated online gambling industry.
The Alcohol and Gaming Commission of Ontario (AGCO) wants to make sure that the launch is as smooth as possible, which is why it recently issued a warning to all applicants. AGCO stated that all operators who are currently in the process of obtaining a license should cease all operations until the license has been granted to them.
AGCO wants to make sure that the standards are met, especially since a lot of time and effort has been put into the process of legalization of the online gambling industry in Ontario. The first step was made in 2019 when the provincial government decided to end the lottery’s monopoly on the market. The first legislation that would regulate online gambling was introduced in 2020 and the first standards were set in September 2021.
These standards included an auto-pay ban and a minimum slot spin time of 2.5 seconds.
Filip Mishevski has been covering online gambling and cryptocurrencies for the past few years. He has written countless articles, how-to-guides, insights and news, and is keen on sharing his extensive knowledge in the aforementioned fields. He’s very passionate about soccer and MMA and is interested in how the online gambling industry will shape our future and thus, influence our lives.