Ontario Provides Update on Its iGaming Market
Ontario’s gaming market is booming, with the province seeing its first-ever year over $1.2B in revenue for 2018 thanks to iGaming and horse racing. The government has now released a report that details how Ontario stacks up against other jurisdictions on everything from gambling age laws to tax rates – including some international leaders like Malta and Germany.
The “Ontario Provides Update on Its iGaming Market” is an article that discusses the Ontario government’s plan to regulate its online gaming market. The article also includes a list of the steps that the government will take to prevent illegal activity in the province’s digital gambling industry.
For private operators who wish to legally participate in the province’s regulated gambling business, Ontario has released some updates on its long-awaited iGaming market. The introduction of the new iGaming system in Ontario will be somewhat delayed, according to the Alcohol and Gaming Commission of Ontario, and will occur in the first quarter of next year.
The AGCO previously stated that applications from operators interested in participating in the new market are currently being accepted. The commission’s subsidiary firm, iGaming Ontario, is in charge of the evaluation process, with licenses expected to be awarded in early 2022. The new single-event wagering on sports will also be available to licensed operators.
A Minor Delay
iGaming Ontario will now begin the process of negotiating commercial agreements with applicants, which should be completed quite shortly. The government released a term sheet for the agreement in the summer, and drafts are now accessible to gambling businesses that registered via the iGaming Ontario site and agreed to a non-disclosure agreement.
Prospective gaming operators should also start the process of registering with the gaming commission, which is needed for all internet operators that wish to provide regulated gambling in the province. The registrations are done via the AGCO website, and the commission has already provided instructions and information to aid operators with their applications.
Potential operators were advised by the AGCO and iGaming Ontario that in order to be evaluated and qualified for a license, they must fully cease all unregulated online gambling services. They should also terminate relationships with other firms that operate in the grey market, since the commission’s goal is to move gamers from unregulated to licensed online casinos.
With the beginning of 2022, the iGaming business in Ontario is poised to experience some very exciting months, as the contractual details of iGaming Ontario should be concluded with the candidate operators. The new gaming regime is expected to be a significant step forward for the province, as it will establish a competitive market for all stakeholders and give gamblers with a diverse selection of options.
Entity that is brand new
In the summer, the AGCO formed its iGaming Ontario subsidiary, which is now in charge of regulating and controlling all online gambling activities in the province. It also has its own staff and board and is in charge of the iGaming market’s applications. The project is also overseen by Danish consultant Birgitte Sand, who has extensive expertise in the field.
iGaming Ontario had an immediate impact on the Ontario online gaming business when it announced several amendments to the online gambling legislation shortly after its inception. These include the prohibition of the Auto-play option in digital slots, as well as the modification of the pace at which the wheel spins, which is now a minimum of 2.5 seconds. Furthermore, marketing in games or on websites must not be deceptive or imply that gambling is a method to make money.
Bennett and Jones are the sources. Mondaq, November 9, 2021, “Ontario’s iGaming Market Nears Launch: Update For Prospective Operators And Suppliers.”
The “alcohol and gaming commission of ontario salaries” is an update on the Ontario government’s plans for the iGaming market. The article also includes information about how to get a job at the Alcohol and Gaming Commission.
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