Sportsbook software provider Altenar has been granted an Ontario licence by the Alcohol and Gaming Commission of Ontario.
The licence will permit Altenar to provide sportsbook solutions to operators in Ontario, an opportunity that the company hopes “will inspire further innovation for Altenar’s product.”
The Malta-based company is looking to expand and develop its business worldwide, with this licence authorisation marking the fourth regulated jurisdiction in which Altenar operates.
This experience of working in other regions has given Altenar the knowledge required to navigate current Ontario gaming regulations under the Registrar’s Standards for Internet Gaming, which sets out rules that both operators and suppliers must adhere to.
Through its iGaming framework, Altenar will introduce procedures designed to prevent fraud, money laundering and terrorist financing, with identity verification measures in place for all new players.
In a statement, Altenar confirmed that is has taken “all the necessary measures in order to protect its clients against possible cyber attacks by ensuring the confidentiality, integrity and availability of its components is maintained at all times.”
The Ontario market has seen rapid growth, with studies reporting that players spend “approximately CAN$500m (US$338.1m) dollars yearly on online gambling”. By obtaining a licence in this region, Altenar hopes to attract new operator clients in the burgeoning Canadian market, adding: “we need to make our product better and better in order to maintain our position in the pantheon of best providers worldwide.”