Ontario's Government Plans To End iGaming MonopolyPublished November 18, 2020 by Sol FH
Private iGaming operators may be able to get in on the Ontario gambling industry following new legislation.
Ontario is the most populous province in Canada. Home to cities like Toronto and the nation's capital - Ottawa, everything in Canada is bigger in Ontario. And that is the same for the potential revenue that iGaming operators stand to make if the provincial government votes to approve a new legislature, which would open the market.
At the moment, the Ontario Lottery and Gaming Corporation (OLG) is the sole operator approved to offer iGaming to residents, which is all done on the PlayOGA.ca website.
Many thought that this was essentially a monopoly and last year, during the presentation of the provincial budget, plans were made to end this. Now, the government will introduce legislation that will allow licensing of new operators approved to work therein.
If this succeeds in becoming a new law, the Alcohol and Gaming Commission of Ontario (AGCO) would act as the regulator and ensure players are kept safe.
The Ontario government will also induct a subsidiary to manage the discourse between private operators and the government.
Giving the people what they want in a fair and secure manner has always been the driver behind the iGaming industry in Ontario, but for too long, the monopoly restricted this. Now, with the potential to run in the biggest possible location in Canada, many of the active operators in Canada will undoubtedly get in on the action.
Earlier this week, it was also confirmed that a bill, which impeded Canadians from betting on single sporting events would be introduced to the highest parliament, which would revamp the entire way Canadian punters were able to wager.
Until now, multi-game bets were the only thing possible for local punters.
Hopefully, the vote will be swift and the new legislation will take action to stop the Ontario iGaming monopoly.