By Juliana Carmona
March 10th, 2025
BURLINGTON, ON
A UK-based high-end sports betting and casino operator is set to exit the Ontario online gambling market after two years of operations. The company will cease its operations by March 31st, citing challenges with a competitive market. Fitzdares Ontario released a statement to users on their company website last week, thanking their customers for their loyalty and their business over the previous years.
In the UK, Fitzdares is well-known for its strong allegiance with horse racing.
Despite the challenges that Fitzdares has had, the Ontario gambling market has seen huge success over the last few years. Online casinos are legal in Canada, and Ontario is Canada’s first and only province to operate regulated online casinos and sportsbooks. January alone saw a record-breaking month for sports betting in Ontario, with almost $1.2 billion in wagers, a 134% increase in wagers month on month.
There are dozens of gambling sites across Ontario and Canada, with platforms offering an array of benefits, bonuses, and top-tier entertainment to players. Many players in Canada now take to online platforms for their diverse range of games and the convenience the best platforms provide (source: https://www.techopedia.com/gambling/canada).
However, today, Canadians enjoy a range of gambling options, with many residents looking towards interactive and skill-based games. The most popular options are slots and table games, live dealer games, lottery, bingo, poker, and sports betting. Many across the country now take to online platforms for speedy transactions and fast payouts.
Fitzdares is a UK-based company that entered the Ontario market with high expectations. However, their expansion outside of the UK has not been hugely successful to date. On top of the announcement last week, Fitzdares has shared key dates for their customers to note. Bonuses were no longer given after March 3rd, account deposits ceased on March 10th, and from March 24th, no new bets will be accepted. Players’ final opportunity to withdraw funds will be on March 31st.
Entry into the Canadian market did not live up to expectations for Fitzdares.
Fitzdares’s ultimate goal was to bring a premium casino and sports betting experience to the Ontario market. A market that has seen $63 billion in wagers and $2.4 billion in revenue between April 2023 and March 2024. The company was founded in 1882 and has positioned itself as a high-end bookmaker for premium clients. It was hoped that Fitzdares could appeal to VIP customers, particularly within the Toronto Metropolitan area.
Cricket is a sport that Fitzdares was able to penetrate – it didn’t have the depth needed to be financially viable in Canada.
However, the result did not live up to expectations. Fitzdares’ Ontario market share only reached 0.2% over the two years. Despite the rapid growth of the Ontario online and sports betting market, Fitzdares believed that the lack of year-round sports offerings was a huge barrier to their growth and profit.
In the UK, Fitzdares is well-known for its strong allegiance with horse racing. The company faced significant barriers when it couldn’t establish itself in this market in Ontario unless it sought out partnerships with local operators.
Fitzdares, however, is not the only online operator to be leaving the Ontario market. Operators such as UniBet and CoolBet have left the sector in Ontario since the market launched in April 2022.
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