DAZN Bet moves one step closer to North America expansion with Ontario licence
Sports streaming service, DAZN, has secured a licence to offer sports betting and online casino products in Ontario, through DAZN Bet.
While a launch could still be months away, it will mark the company's first move into the North American market, having started in the UK and expanded into Europe.
DAZN Bet expansion
DAZN Bet is best known for its live sports streaming services, but it expanded its services to betting in 2022.
As well as selling tickets, and offering non-fungible tokens (NFTs), the company also partnered with Pragmatic Group and launched online sports betting services in the UK to kickstart its entry into betting.
At the time of the launch, DAZN Group CEO Shay Segev said: "The convergence of sports media and betting is the future.
"This historic partnership brings together the leading sports media company and a technology partner who is committed to developing innovative experiences for fans.
"It underscores DAZN's commitment to revitalise the sports viewing experience by offering a broader spectrum of digital entertainment for fans."
Since then, the Group has expanded its online betting operations into Europe and also holds licences in Germany, Spain and Italy.
DAZN Bet in North America
The launch marks the company's first step into sports betting expansion outside of Europe, taking on the highly competitive Ontario market.
However, DAZN does have one foot in the North American market, having recently announced a partnership with prediction market Polymarket.
Earlier this month, the pair announced DAZN would offer the crypto platform's predictions across its live broadcasts.
Sports prediction markets are viewed as trading platforms, rather than sports betting platforms in the US.
This has enabled them to go live even in territories where gambling is strictly prohibited. However, different markets have different rules.
In the UK, predictions are treated as gambling and are governed by the same regulatory framework as other betting sites. In Canada, binary wagers are currently prohibited, although that may change in the future, especially as Polymarket and Kalshi, the two largest prediction platforms, have partnered with the NHL.
However, while binary wagers are prohibited, Canada has expanded its iGaming regulations in recent years.
Canada's gambling expansion
In August 2021, Canada's Government opened up the single sports betting market, enabling provinces to regulate sports betting.
Ontario became the first province to take up the offer, formally introducing legislation in April 2022. The last full fiscal year, ending on 21 March, 2025, Ontario reported $3.2bn in gross gaming revenue from all iGaming sources.
While it remains the only province with a fully competitive, regulated market, Alberta continues to threaten to expand in the coming months.
Having secured a licence from the Alcohol and Gaming Commission of Ontario, DAZN Bet now needs to finalise details of the iGaming Ontario contract.
No launch date has been given, but it is expected within the coming months. When it does go ahead, DAZN Bet will become Ontario's 50th licensed betting organisation.
DAZN will be able to offer iGaming content, as well as sports betting. The platform will likely offer live casino games, table games, and slots, as well as in-game betting and extensive sports coverage.
