-
Casinos for you
Ontario Plans A Monopoly-Free Canadian Gambling Market
By Shane Addinall Nov 09, 2020 IndustryThe government of Ontario is preparing to open the online gambling market and is pushing to repeal federal laws on sports betting too. These changes will have a positive outcome for operators, players, and the government, if successful.The online gambling market in Canada is one of the biggest and most catered for markets in the world. Yet the infrastructure in the country has not been as free as regions such as Europe, where online gambling is growing rapidly.
The Canadian market has been dominated domestically by state-run monopolies which have a less than desirable selection of online gambling entertainment available for its punters.
This is all set to change in Ontario, one of the country’s provinces, as the Ontario government seeks to open up the market and invite online operators to trade within a safe and regulated environment.
The Plan of Action
At present, the Ontario Lottery and Gaming Corporation (OLG) is the only operator approved to offer online gambling in the province, which they do via their PlayOGA.ca website. The government in the province is, however, seeking to open the market to remote businesses and existing land-based casinos.
These casinos would like the benefit of licensed digital trade with Canadian clientele within a legal framework. The government is also interested in repealing current laws on single-event sports betting in the country and hopes to twist the Federal Government’s arm into legalising this form of betting.
A bill will soon be submitted to parliament with the aim of changing the current laws.
If the legislation bill is passed into law, it is proposed that the industry will be regulated by the Alcohol and Gaming Commission of Ontario (AGCO), who will be a mediator between operators and the government. It is said that a brand-new subsidiary of the organisation will be formed and tasked with this venture.
How Will Things Change?
While there is a monopolised regulated industry in the province, many Canadians turn their attention to remote casino operations that exist outside of the country’s borders.
Canada is well known as an online gambling hub, which means that there is no shortage of sites that service Canucks, offering a far greater selection of entertainment than the single site currently available.
The government has turned a blind eye to this in the past, even though allowing this causes millions of dollars to be spent outside of the country. It is believed that Ontario’s change of heart with regards to liberating the market might be based on this past loss of funds.
Paul Burns, President of OCGA has this to say:
“As we grapple with the economic recovery from novel coronavirus (Covid-19), it will be helpful for Ontario to generate revenue from the licensing and taxation of offshore online operators who qualify to operate in Ontario.”
Opening the market to licensed operators will provide them with a way of reaping the benefits through licensing fees and tax revenues to boot.
Welcoming Regulation
As always, GamblersPick encourages and supports all attempts in the industry to increase the level of gambling entertainment globally, while bolstering the security of all players involved.
A licensed Canadian market provides security for Canadian players who may soon have avenues of recourse in the events of disputes and can protect them from potentially dissatisfying casino services.
You might also like