Gray-market operator Pinnacle gets licensed to enter Ontario sports betting market

Gray-market operator Pinnacle gets licensed to enter Ontario sports betting market

Article brief provided by Sports Handle
  • Jeff Edelstein, Sports Handle
September 8, 2022 10:05 PM
  • Jeff Edelstein, Sports Handle

The North American sports betting industry hit a new pinnacle Thursday – literally, as Pinnacle officially received legal status as a licensed sportsbook in Ontario. It previously has operated in the long-standing “gray” market of the province and elsewhere in Canada.

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Granted its gaming license by the Alcohol and Gaming Commission of Ontario (AGCO), the company will now legally enter the market it’s been part of for quite some time, contributing to the estimated $14 billion gray market that preceded Ontario’s launch of legal sports betting on April 4.

Betway and Sports Interaction are two other books that recently made the switch, and BetRegal and Bet 99 are expected to also join the legal world soon.