Canada
PlayVirginia.com: Virginia sportsbooks extend historic start with $265 million in February
Virginia sportsbooks hauled in more than $265 million in wagers in what was the Commonwealth’s first full month of legal sports betting, extending one of the highest volume debuts in U.S. history, according to PlayVirginia, which provides news and analysis of the state’s gaming industry.
“Virginia’s debut has been overshadowed some by Michigan, but together the two states show just how far the U.S. has come,” said Dustin Gouker, analyst for PlayVirginia.com. “The nation’s major operators have the resources to engage bettors in new markets in ways that were impossible in the early days of legalization, which benefits later-comers like Virginia. Ultimately, that will mean a market that goes through fewer growing pains than some of the earlier adopters.”
Spurred by $19.6 million in Super Bowl betting, matching PlayUSA.com projections for the state, Virginia sportsbooks collected $265.8 million in wagers in February, according to official data released Thursday by The Virginia Lottery. That is up from $58.9 million in January. The per-day handle nearly doubled to $9.5 million per day through the 28 days of February from $5.4 million per day in January, easily the largest month-over-month per day gain in the U.S. during the month.
Launched on consecutive days in January, Virginia and Michigan have now combined to take in $741.7 million in online bets so far. And with Michigan’s $301.9 million in online bets in February, the two states represent No. 1 and No. 2 on the list of highest-volume first full months of legalized online sports betting in U.S. history.
Virginia’s sportsbooks won $12.2 million on February’s bets, up from $3.6 million in January. Promotional credits again sapped much of the win, pushing combined adjusted gaming revenue to a $3.2 million loss in adjusted gross revenue. The collective win yielded $300,593 taxes for the state.
Even more, new operators continue to enter the market, joining national heavyweights FanDuel, DraftKings, BetMGM, and BetRivers, which all launched in January. That includes William Hill, which launched just before the Super Bowl in February, and WynnBet, which opened ahead of March Madness, giving Virginians a more robust selection to choose from.
“The enthusiasm from bettors will eventually settle down, and sportsbooks will pull back a bit from this heavy promotional period,” said Jessica Welman, analyst for PlayVirignia.com. “Ultimately, the goal in these early days for sportsbooks is to engage sports bettors, introduce them to their product, and begin building relationships that will act as the foundation. So far Virginia’s operators are doing just that.”
The growth in Virginia should continue in March, which includes the NCAA Men’s Basketball Tournament. But Virginia may not be in as good a position as other states to capitalize on March Madness.
The Commonwealth had five schools reach the NCAA Tournament, but a state ban on wagering on in-state college teams and in-game wagering on college games in general could mute the results of what is traditionally the nation’s single-biggest sports betting holiday in the U.S.
“The NCAA tournament will bring significant interest in Virginia, but the restrictions will prevent a huge leap forward,” Welman said. “Removing those restrictions would really help get the most out of what still should be a big month next month. Regardless of what happens in March, Virginia is off to a great start by most any measure.”
For more information and analysis on regulated sports betting in Virginia, visit PlayVirginia.com/revenue.
About the PlayUSA.com Network:
The PlayUSA.com Network is a leading source for news, analysis, and research related to the market for regulated online gaming in the United States. With a presence in over two dozen states, PlayUSA.com and its state-focused branches, including PlayVirginia.com, produce daily original reporting, publish in-depth research, and offer player advocacy tools related to the advancement of safe, licensed, and legal online gaming options for consumers. Based in Las Vegas, the PlayUSA Network is independently owned and operated, with no affiliations to any casino — commercial, tribal, online, or otherwise.
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Alex Cuoci
Wealthsimple and Kalshi Partner to Bring Prediction Markets to Canada
Wealthsimple announced the release of Wealthsimple Predict, providing retail investors the ability to trade event contracts on Kalshi. The standalone application is scheduled to launch this summer. Through the app, users will have access to approximately 4000 Kalshi event-based contracts in categories Wealthsimple is authorized to offer in the Canadian market, specifically climate, financial markets, and economic indicators.
“Prediction markets are the fastest-growing segment of global financial markets, letting traders turn an opinion into a position on the factors that shape our world – where inflation is headed, what happens to rates, or how the year unfolds. Until now, Canadians have had limited access. Wealthsimple Predict gives Canadians a clean, well-designed way to access these markets, with education and guardrails built in from day one,” said Brett Huneycutt, co-founder and Chief Product Officer, Wealthsimple.
“Kalshi was founded on a simple belief: views on the future should have markets, and those markets should be available to everyone. That’s why we’re partnering with Wealthsimple, Canada’s leading financial innovator – to give everyday investors in Canada access to fair, secure, and regulated prediction markets,” said Alex Cuoci, Kalshi.
In March, the Canadian Investment Regulatory Organization (CIRO) authorized Wealthsimple to offer event and forecast contract trading, also known as prediction markets. These contracts are regulated as futures contracts (derivatives). The approval covers contracts with a 30-day settlement period or longer, within the categories of economic indicators, financial markets, and climate. Wealthsimple is the second investment dealer to receive regulatory approval from CIRO for prediction markets.
To access trading through Wealthsimple Predict, new clients must complete a standard Know Your Client (KYC) process. Education is built into every stage of the experience, including a guided orientation of a client’s first trade. The app also shows users key disclosures and definitions, including trading risk reminders, contract resolution information, notices that positions can be sold at any time, and liquidity risk warnings on lower-activity markets. Wealthsimple Predict will only be available to Canadian residents.
Kalshi is authorized to operate in the US as an event contracts exchange, with federal authority from the Commodity Futures Trading Commission (CFTC), the regulatory authority for the U.S. derivatives market. Prediction markets follow the same regulatory framework applied to other financial assets traded in the US, such as equities, bonds, and traditional derivatives, with clear rules for price formation, settlement, and governance.
The post Wealthsimple and Kalshi Partner to Bring Prediction Markets to Canada appeared first on Americas iGaming & Sports Betting News.
Alberta
MediaTroopers lines up eight operator partners ahead of Alberta launch
MediaTroopers said it is preparing to launch in Alberta’s regulated gaming market on July 13, as Canada’s next regulated commercial gaming market opens.
The digital marketing and customer acquisition firm said it plans to enter Alberta alongside eight “premium operator” clients, which it said are also preparing for their own market entries. MediaTroopers did not name the operators.
The company said its Alberta offering will mirror its work in Ontario, including localized acquisition strategies, compliance-focused marketing, regional player education, and market-tailored performance campaigns.
MediaTroopers also said it has seen “strong interest” from Alberta players through pre-registration activity, without providing figures.
“Alberta represents an exciting next step for regulated iGaming in Canada, and Media Troopers is ready to support operators from day one,” said Shmulik Segal, CEO of Media Troopers. “Our experience in Ontario has given us a strong understanding of what it takes to enter a new Canadian market successfully, from compliance and localization to scalable player acquisition. With eight of our premium clients already preparing for launch and early pre-registration traction underway, we see Alberta as a market with tremendous potential.”
The post MediaTroopers lines up eight operator partners ahead of Alberta launch appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.
Canada
MediaTroopers Makes Preparations for Upcoming Alberta Launch with Eight Premium Operator Partners
MediaTroopers, the leading digital marketing and customer acquisition firm, has announced that preparations are underway for its upcoming launch in Alberta’s regulated gaming market, scheduled to go live on July 13. As part of those preparations, MediaTroopers will enter the province with eight of its premium operator clients, who are already preparing for their own entries.
With the launch of Canada’s second regulated commercial gaming market, Alberta has quickly become one of the most anticipated market opportunities for operators looking to expand. MediaTroopers has already cemented itself as a reliable partner in Ontario’s regulated market, supporting operators in one of North America’s most competitive markets, and it will bring that same expertise as it enters Alberta.
Much like Ontario, MediaTroopers will continue to support operators in Alberta with localized acquisition strategies, compliance-focused marketing, regional player education, and market-tailored performance-driven campaigns.
MediaTroopers has already seen strong interest from Alberta players through pre-registration activity. With eight of its premium clients also preparing to go live, the company expects to play a pivotal role in helping other licensed operators to build up brand visibility and recognition among players in the region from day one.
With its launch in Alberta, MediaTroopers remains committed to supporting sustainable, responsible, and compliant growth across Canada’s regulated market.
“Alberta represents an exciting next step for regulated iGaming in Canada, and Media Troopers is ready to support operators from day one,” said Shmulik Segal, CEO of Media Troopers. “Our experience in Ontario has given us a strong understanding of what it takes to enter a new Canadian market successfully, from compliance and localization to scalable player acquisition. With eight of our premium clients already preparing for launch and early pre-registration traction underway, we see Alberta as a market with tremendous potential.”
The post MediaTroopers Makes Preparations for Upcoming Alberta Launch with Eight Premium Operator Partners appeared first on Americas iGaming & Sports Betting News.
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