On April 4th, Ontario’s internet gaming industry will open for business and allow privately owned Canadian online casinos to open in the state. In the following post, we’ll delve a little more into this topic. The long road to authorized, privatized online gambling in Ontario has come to an end.
Gambling must be regulated and managed by the provinces, conforming to Canadian legislation.
According to the Canadian Gaming Organisation, a national trade association that represents key operators and suppliers in Canada’s gaming, sports betting, eSports, and lottery industries, Canadian sports bettors gamble almost $10 billion yearly through illicit bookmaking businesses. Furthermore, about $4 billion is wagered on gray-market offshore sites. In comparison, only $500 million is projected to be wagered on legitimate provincial sports lottery products.
With the passage of Bill C-218 in August, Canada made single-game gambling lawful. Currently, sports bettors in Ontario can only legally gamble on the PROLINE + platform, which is managed by the province, and online casino games can only be played through the Ontario Lottery and Gaming Corporation.
Private gaming operators who have registered with the AGCO and signed an operational agreement with iGaming Ontario (iGO) can start offering their games to gamers in Ontario starting April 4. In compliance with these agreements, companies will run gaming sites in the market on behalf of the Province.
iGO is working with the Ontario government and the AGCO (Alcohol and Gaming Commission of Ontario) to develop a new online gaming business that will protect consumers while also providing more choices.
Private gaming operators who have registered with the AGCO and signed an operational agreement with iGO can start offering their games in Ontario starting April 4. In compliance with these agreements, companies will run gaming sites in the market on behalf of the Province.
Many will be watching to see how Ontario, the first jurisdiction to operate a private online betting market, develops. Predictions anticipate that it could become one of the largest gaming market. With gambling on the internet, Ontario will act as the operating company and will be in charge of entering into commercial arrangements with operators, with a percentage of the revenue generated from these commercial connections going back to the Ontario government to fund provincial goals.
Operators that want to act as an agent for the province in Ontario’s online gaming industry must first register with the AGCO, the province’s gaming regulator, and then sign an operational agreement with iGO.
To summarize, we believe that this launch will benefit all parties concerned and will assist in the development, implementation, and oversight of igaming income reconciliation on behalf of the province. When gambling legally online, gamblers have the option of playing for free or for real money, which helps to secure their safety and security.
Disclaimer: This content does not necessarily represent the views of IWB.