A company that assists oddsmakers by providing live data on competitive video games such as League of Legends has announced its esports partnership with bet365 will extend to sports betting in Ontario.
Bayes Esports previously announced its registrations and entrances into New Jersey and Colorado back in October, with the company's chief operating officer bullish about the potential for future expansions.
"To now also be registered in Ontario and to extend our partnership with bet365 accordingly feels like the cherry on top," said Amir Mirzaee, COO of Bayes Esports, in a recent press release. "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."
Bayes Esports hopes the expansion into Canada's biggest legal sports betting market will bring integrity to the esports market.
Its partner, bet365, is also set to benefit the most from the company’s growth. Colorado, New Jersey, and Ontario happen to be the only locations where bet365 is operating within North America (although they plan on launching in Ohio in 2023).
Bet365 is headquartered in Stoke-on-Trent, England and operates in Europe, Australia, and North America.
Growth of esports
Esports betting is growing within the legal sports betting industry yet it is still one of the more often-ignored categories when you open your sportsbook app. But Entain, the co-owner of BetMGM, has forecast that esports brings in over 450 million viewers and could bring in $12 billion in revenue in the next few years.
State governments in New Jersey and Nevada have seen the potential and introduced legislation to further regulate betting on esports. Ontario already has a sportsbook dedicated to video games, Rivalry, which sees 90% of its handle come from esports.
Despite the growth, traditional sports — specifically football — are still king. In the second quarter of 2022, Rivalry conceded that the beginning of football season will boost its handle and it will increase its marketing spend to grab a piece of market share.
