Casumo is now bolstering its operations in Ontario's regulated market for internet gambling and sports betting. The operator recently informed that it has teamed up with mkodo for the latter's geolocation verification solution, GeoLocs. Now, the technology has been incorporated into its business in the province to meet full compliance with geolocation requirements.
In April 2022, Ontario became the first Canadian province to open up its online gambling market for third-party operators, leading to dozens of operators being now licensed to lawfully run in the province. The aim of the iGaming sector was to prevent local bettors from playing on offshore websites and thus keep a portion of the revenue to the province.
Enhancing Geolocation Protections with GeoLocs
Casumo was permitted to join the Heartland Province's iGaming space by the Alcohol and Gaming Commission of Ontario in June of 2022. But it went online in the province in November 2022. Currently, the company wants more online security with GeoLocs, which has been developed to deal with the industry's geolocation issue with quick and seamless integration.
Mark Busuttil, CPO at the Malta-based operator said by choosing GeoLocs as a geolocation provider, the company is confident that it can provide users with a seamless and user-friendly experience which will answer to compliance and regulatory demands in Ontario. He added that the tech solution has been key in supporting the company in its pursuit of license and operations in Ontario.
It is worth mentioning that GeoLocs has been utilized by partners of mkodo for over a decade now. It provides a smooth user experience when it comes to the location verification process. Users are able to verify their location quite quickly, which happens directly within the app or website, hence, removing any tedious location approval process that usually drags on.
In the meantime, Stuart Godfree, Managing Director at mkodo remarked the brand is pleased to be partnering with a leading operator to support its iGaming launch in the province and broaden the solution's popularity in the region. The official further shared that the company is eager to team up with the operator and offer the best user experience for geolocation in the province.
Ontario Recaps Q1
In July 2023, Ontario issued its financial report for the first quarter of the fiscal 2023-2024, which started on April 1, 2023, and stretched to June 30, 2023. In that time, the iGaming sector witnessed over CA$14 billion in total betting volume, which translated to CA$545 million in revenue. There were 920k active user accounts, which had an average monthly spend of CA$197.
The largest portion of the betting volume is derived from digital casino games, including slots, live and computer-based table games and peer-to-peer bingo. It accounted for nearly CA$11.6 billion or 83% of total wagers in Q1. Betting on sports, eSports, and novelty bets contributed CA$2 billion or 14% while peer-to-peer poker accounted for CA$350 million or just 3% of the total tally.
Source: “Casumo onboards mkodo's GeoLocs solution for Ontario igaming operations” Canadian Gaming Business, September 14, 2023