Fanatics Secures License to Enter Ontario iGaming Market

Can the Ontario iGaming market handle another big name joining the field? Fanatics is betting that it can.

The sportsbook and iGaming provider has secured a license to enter the Ontario market, one of the most saturated in North America. Fanatics already exists in 22 U.S. states, but has yet to establish a presence in Canada.

Whether this is the right move — as well as a potential long-term strategy — remains to be seen. A visit to its newly established domain name says that Fanatics Casino is coming to both Ontario and Alberta, which suggests the provider is focused on the long-term play.

How Close is Fanatics to Entering the Ontario iGaming Market?

Before Fanatics can actually launch in Canada’s largest province, it has two key steps to figure out. First, it has to actually build the framework for the site. This includes things such as geofencing for Ontario, making sure the interface is appealing to the Canadian market and ensuring that iGaming and sportsbook operations run smoothly.

In practice, that takes up to six months from approval to a successful launch. Fanatics could establish itself sooner, but a launch of early 2027 seems realistic.

Second, Fanatics has to secure a contract with iGaming Ontario so that it can operate in the market. That’s a much simpler task, and will probably take place within the next month or two. Once that’s done, Fanatics just needs to have its site operational to launch in the Ontario iGaming market.

Upon doing that, Fanatics will likely launch a sportsbook in Ontario as well as its iGaming platform.

How Close is Fanatics to Coming to Alberta?

Odds are, Fanatics will either launch in both provinces on the same day, or Alberta will be a few months behind Ontario. Fanatics has to secure a license with both Alberta Gaming, Liquor and Cannabis (AGLC) to enter the market, and with the Alberta iGaming Corporation (AiGC) to offer iGaming.

Like with iGaming Ontario, neither action should take long to execute. The fact that Fanatics’ casino page says it’s coming soon to both Ontario and Alberta suggests that Fanatics is either already in the application process or will start it soon.

As with Ontario, building the site and geofencing the province will take the most amount of time. There is also the factor of entering the market without letting too much time pass. In Ontario, Fanatics is already well behind, but Alberta’s iGaming market is so new that the timeframe matters. The sooner Fanatics can get into Alberta, the easier it will be to establish itself.

Can the Ontario iGaming Market Handle Another Provider?

It’s tough to say. The market has continued to grow every month since it first launched. In June, it topped $1 billion CAD in money wagered, and iGaming provides the bulk of that money.

With most of the market saying that they wager on legal sites, it’s hard to tell if the Ontario iGaming market has any room left. There are currently 76 gaming sites in the province, which doesn’t leave a lot of space.

However, Fanatics does have an established name on its side. The company has a visible partnership with the NHL, which could naturally attract fans of the Toronto Maple Leafs and Ottawa Senators.