Paysafe Strengthens Canadian iGaming Presence With Ontario Market Launch

Paysafe (NYSE: PSFE), a leading specialized payments platform, has announced that it is live and supporting private iGaming operators with payments in the Canadian province of Ontario’s expanded market, which launched today. Building on longstanding payments partnerships with the Canadian provincial government-operated lotteries, Paysafe is now powering payments for leading operators in Ontario’s new private market.

With roots in the city of Montreal and 20+ years’ experience in iGaming payments, Paysafe has processed online payments for the Ontario Lottery and Gaming Corporation (OLG)’s online gaming brand OLG.ca since its launch in 2015.

Today, Paysafe has strengthened its presence in Canada’s most populous province of 14.6m by extending its multi-state U.S. payment partnerships with a range of operators into the Ontarian market, which is expected to generate gross revenues of C$1.86bn by 2026, according to Vixio. Among others, these partners include PointsBet (ASX: PBH) and theScore Bet, a wholly-owned subsidiary of Penn National Gaming (NASDAQ: PENN).

Through a single, streamlined integration with Paysafe, these online sports-betting and casino brands enable Ontarian players to make deposits by credit and debit card, with all transactions processed seamlessly by Paysafe’s best-in-breed payment gateway. The gaming brands’ connectivity to Paysafe will also allow them to offer players the full suite of the company’s alternative payment methods, including its eCash solutions.

Paysafe is scheduled to unveil new iGaming payments products and operator partnerships for the Ontarian market in the coming weeks.

Zak Cutler, CEO of North America iGaming at Paysafe, said: “Today’s launch of the new, expanded Ontarian iGaming market marks a milestone for the North American industry and our global company, which has its origins in Canada. Ontario will likely rival the largest U.S. state iGaming jurisdictions when it reaches maturity, and we look forward to facilitating payments for operators and their Ontarian customers to help the market grow to its full potential.”