Bayes Esports and bet365 say they will “usher in a new era of sports betting” in Ontario following the announcement this week that the two companies have expanded their partnership to cover the Canadian market.
This extended agreement will mean that bet365 has become one of the first sportsbooks to offer esports betting services in Ontario.
Amir Mirzaee, COO and Managing Director of Bayes Esports, stated: “These past couple of months have been amazing for us. We have expanded to the US, launched an innovative odds integration platform that will revolutionize sports betting in BODEX, and strengthened our management team with some of the brightest minds from across various different industries.
“To now also be registered in Ontario and to extend our partnership with bet365 accordingly feels like the cherry on top. I am certain other provinces will follow Ontario’s example and we will be able to offer live esports data to sportsbooks all across Canada in the near future.”
Back in October, Bayes Esports added New Jersey and Colorado licenses to its portfolio whilst also partnering with bet365 to strengthen its tech stack.
The two companies believe that this entry into the Ontario market marks “the next step in the development” of the Canadian sports betting industry.
Over the last few years, the esports market has been on an upwards trajectory of growth. A report from Absolute Reports found that the global esports market was worth approximately $10bn in 2021 – this figure is expected to skyrocket by 2028 to $23.8bn by 2028.
Looking at the Canadian sports betting market, and Ontario in particular, this market’s revenue figures have grown by 64.8% from Q1 of this year to Q2. From this figure alone, it’s quite clear that there is a growing opportunity for sportsbooks looking to enter the province. Combine that with a growing global esports fanbase, and the potential could well be huge.
