RE:RE:RE:RE:From Bigg to Pappi - Email ResponseHi Shock,
Thanks for clarifying to everyone because this is an important distinction. In my opinion the two main reasons why bettors are wagering more offshore rather than domestically is because single game wagering is prohibited and because the variety of betting markets are very limited (i.e. Proline in Ontario).
The repeal to criminal code will definitely improve the provincial revenues as recreational bettors are not forced to parlay. So in the short term they will see a benefit but to maximize revenues it's quite obvious they need to regulate and tax an open and competitive market.
I agree with you in that the score will have an advantage being local and should have better relationships to get partnerships with province or casino, whatever is needed. But let's not forget the big players with big budgets because they are monitoring the situation. Keep in mind our strategy to first target our user base of which 30-35% of monthly active users are in Canada. These offshore sportsbooks which bettors are currently using will eventually be unable to offer bets to Canadians and so they will likely look for partnerships within Canada to legally operate. Don’t forget they will already have accounts with many Canadians. I do believe we have an advantage but not a massive one and it's now just a matter of time.
When I say all this, I’m speaking in regard to handle and GGR figures rather than SP because there will likely be a lot of hype after institutional buying which may take this from being undervalued to overvalued