Various gambling sites are now lucky enough to have been able to expand into the iGaming market. This is regulated by the Alcohol Gaming Commission, and they have assessed that Ontario, right now, looks to have a very serious chance of becoming a major contender for the sector. They are regulated by the AGCO, and they have asserted that Ontario does have a very serious chance of being able to register within the province.
There are over 700 games that have been certified for gameplay so far, and it would seem that this marks a huge shift in how Canada not only sees but also reacts to the general prospect of gambling. They have jumped at the thought of having a future that is filled with gambling, and they have also taken the time to pave the way for the future, especially in terms of general progression.
Rules and Regulation
It’s important to know that Ontario is known for being the casino capital of the country, and it has come forward as being one of the first provinces to begin accepting the idea of gambling into the general society. It started with the lottery and then the formation of the OLC. Since then, the purpose of the organization has been to fully regulate all of the lotteries and to ensure that the players are kept as safe as possible.
They have done this while funnelling the proceeds back into the province. Of course, one thing to know is that Ontario is not the only province to look toward an international organization for its casino gameplay. Alberta has gone on to make their very own corporation as well. The province’s only regulated online casino runs through them, and this could mean that other real money casino options in Canada end up launching as a result.
Canada’s iGaming Capital
When you look at the new iGaming capital, you will see that in more recent years, the government has gone on to form the sector known as iGaming Ontario. This takes on the task of managing every aspect of online gambling in the province. They focus on those that are accessed through various private operators. They were established in the year 2021, and the general aim of this was to make sure that they open up agreements with various gambling sites. They also want to make sure that only those who enter are top-notch and respectful of the current gambling rules and regulations.
The Fallout
The residents of Ontario are probably very happy with the progression to a more expansive market, but with any movement like this, there are always going to be concerns about the safety of it. Some wonder what this could mean for Canadian society and the impact that it is going to have on gamblers as a whole. Some are worried about the lowered tax rate for those who choose to open up a gambling site.
If you look at the tax for iGaming, you will see that this stands at 20% and that it is only 55% for brick-and-mortar casinos across the country. The CEO of Grand Canadian Gaming has said that right now, they are the only province in the country where those who choose to open an online site have an advantage. They have said that they want the playing field to be level and that the main worry is that they are going to discourage people from visiting casinos.
They may make a move to online gaming, but this could mean that online sites can save on taxes when compared. This would limit funding to the casino market, and it would also mean that the number of players who choose to play in person is limited.
Future Impact
It is very likely that other developments are just going to be the beginning. It would seem that the government in Ontario does want to try and transform the gaming market and that they want to do this beyond the gaming experience. They want to help with retail, and they also want to stand out amongst surrounding provinces. If Ontario is able to provide that they can provide a safe and effective gaming market, then this will help the gaming market to expand and ultimately encourage people to take the plunge. Right now, though, it would seem that there are tax advantages to going online, and it may be that other companies end up following suit to ensure that the whole market benefits.
