Fitzdares to Exit Ontario’s Online Gambling Market Due to High Costs

Fitzdares, a UK-based bookmaker, has chosen to leave Ontario’s online gaming business due to intense competition and growing expenses. The business announced that it will conclude its two-year presence in the province by shutting down at midnight on March 31, 2025.

Bonuses and promotions must be issued by March 3rd, according to the Alcohol and Gaming Commission of Ontario (AGCO). With the exception of the $5 needed for withdrawals, deposits will no longer be allowed after March 11. All customer cash must be removed by March 31; Fitzdares will cease accepting new wagers on March 25. On April 3, the business’s iGaming license expires.

Challenges in Ontario’s Competitive Market

Fitzdares’ departure follows the exit of former CEO William Woodhams, who played a key role in the company’s expansion outside the U.K. and Ireland, including its Ontario launch in 2023. However, the province’s iGaming market remains highly competitive, with 50 licensed operators offering sports betting, casino games, poker, and bingo.

Other brands, including Coolbet and Unibet, have also left Ontario, while dominant players like bet365, DraftKings, and FanDuel continue to thrive. Fitzdares acknowledged financial pressures as a key reason for exiting.

Clive Harris, Fitzdares’ Country Manager for Canada, explained:“We have loved Ontario, and made some great friends, but the cost of doing business was becoming prohibitive.”He added, “We will continue to monitor the competitive and regulatory environment closely, as we gear up for exciting times ahead.”

Ontario’s gaming regulations require operators to pay a $100,000 annual licensing fee and contribute approximately 20% of revenue to the province. These costs made it difficult for Fitzdares to sustain its high-end betting experience in the region.

In contrast to its U.K. operations, Fitzdares couldn’t establish a private gambling club in Ontario or offer horse race betting without a partnership with Woodbine Entertainment Group. These challenges limited its ability to differentiate itself, ultimately leading to its decision to withdraw from the market.