DraftKings enters Ontario market with sportsbook and online casino products

Sports betting giant DraftKings announced Wednesday the launch of its online sportsbook and online casino products in Ontario, Canada, becoming the 18th gaming operator up and running in the new market. The company says it will deliver customers “a best-in-class betting experience” through its sportsbook app, as well as more than 130 online casino variations through DraftKings Casino such as baccarat, blackjack, roulette and slots.

Ontarians will be able to access legal and regulated opportunities to place bets across various sports leagues and sporting events through DraftKings’ Sportsbook, including the 2022 NHL Playoffs, Major League Baseball, Major League Soccer, and the FIFA World Cup, among others. They will also be able to enjoy an array of parlay options, including DraftKings’ same-game parlay feature, all available through the app. 

DraftKings co-founder, chairman and CEO Jason Robins commented in a company statement: “DraftKings’ entry into Canada with our online sportsbook and online casino products is a significant milestone in our expansion efforts as we reach nearly 40% of Canada’s total population. We look forward to providing the passionate fanbase in Ontario with the most entertaining and responsible gaming experience possible”. 

Expanding its reach across North America, @DraftKings announced the launch of @DKSportsbook and @DKCasino online products in Ontario, Canada. Customers will have access to our best-in-class sports betting experience and casino offerings. Full release: https://t.co/R4laEv73Me

— DraftKings News (@DraftKingsNews) May 18, 2022

The Ontario sports betting and iGaming market launched on April 4, 2022, with companies such as Penn National Gaming, FanDuel, theScore Bet and PointsBet Canada as some of the first to start operations in the jurisdiction. 

Since then, statistics on the market's performance have shown that Score Media and Gaming has taken an early lead in the jurisdiction, being the most downloaded betting app since launch, according to an analysis by Morgan Stanley released mid-April, which gave an early glimpse of the projections for the market and the competition among operators. 

DraftKings has recently shared its financial report for the first quarter of the year, which showed revenues of $417 million, an increase of 34% from the same period in 2021. The company expects that the acquisition of Golden Nugget Online Gaming, which has already been completed, combined with the company's launch in Ontario will contribute an additional $130 million to $150 million in revenue in fiscal year 2022.