New online gambling law comes to light in OntarioFriday, February 5, 2023
This is news that will inevitably upset the sector of the Canada Online Casino : Ontario officially becomes the first province in the country to legalize gambling sites.
Concerned with restoring order in this particular market, Doug Ford's government plans to take specific measures in the coming months... We are thus addressing this burning issue through this article!
“Ontarians spend more than $300 million each year on online gambling. »
According to the Ministry of Finance, Ontarians spend each year more than 500 million dollars in online gambling. Where the shoe pinches is that the province receives only a tiny part of this sum.
Until now, the Société des Loteries et des Jeux was effectively the only entity authorized to offer online games through the Play OLG website. This platform has never been able to compete with other online casinos available, which offer their services from abroad and are licensed by authorities based in Malta, Curaçao, or Gibraltar.
Having unveiled its intentions since the announcement of the 2019 budget, the Ford government now wishes to regain control of the market. To achieve this, the Alcohol and Gaming Commission of Ontario (AGCO) has been mandated to issue licenses to gaming sites deemed trustworthy.
What are the consequences ?
une licence de jeu délivrée par l'autorité compétente. Cette nouvelle réglementation vise à protéger les joueurs ontariens en s'assurant que seuls les casinos en ligne légitimes peuvent opérer dans la province. Les opérateurs étrangers devront donc respecter les normes et les règles établies par l'Ontario pour garantir la sécurité et l'équité des jeux de hasard en ligne. Cette mesure vise également à prévenir le blanchiment d'argent et d'autres activités criminelles liées aux jeux en ligne. Par conséquent, ces nouvelles restrictions mettront fin à la concurrence des casinos en ligne étrangers non réglementés en Ontario et renforceront l'industrie des jeux de hasard en ligne dans la province. AGCO Agreement Access to the Ontario market will obviously be granted in exchange for financial compensation.
In this way, Ontario will finally be able to benefit from the revenues generated by the online gambling industry. As for the players, they will have the assurance of betting on fully legal platforms that practice a responsible gaming policy.
What about other provinces?
By becoming the first province to allow private operators, Ontario risks inspiring others to do the same. However, for now, Quebec has reiterated its commitment to maintaining its monopoly through the Loto-Québec website, disregarding the revenues generated by foreign sites.
On the Alberta side, the trend is to follow the Quebec model by creating its own gaming platform. We will therefore have to wait for the first results of the Ontario legislation before seeing any change in the other provinces of Canada…