After months of operations, Ontario’s new online gaming and sports betting market is starting to gain some momentum. Recently, Attorney General Doug Downey of the state discussed the topic, shed more light on why local governments pushed for it, and threw dice on the private game market for the first time in Canada.
The introduction of the online gaming market was made possible in August 2021 due to the legalization of single event betting and the opening of Ontario’s iGaming framework. The province’s private enterprise market began operations on April 4, 2022, attracting the attention of the industry’s largest betting companies.
Downey said the state already had an online gaming market, but it was a black market, and there were no safeguards for people. According to him, many operators have called for regulatory regimes to have good sectors that protect those who make more money. He pushed for the market when he became attorney general, and oversaw Ontario’s alcohol and gaming commission.
To revitalize the market, the province hired experts to help with the iGaming model. Downey explained that the province looked at European and U.S. markets as inspiration, but there were no similar cases. But the province has managed to turn the market around, and is now generating millions of dollars in betting revenue.
In the second quarter of the market, Mr Downey reported that the state handled wages totaling more than C$6.04 billion, a reminder that the state brought in more than C$267 million in revenue. Currently, the segment has 24 online operators, 42 betting websites, and 628,000 active player accounts. In his words, it takes up a huge industry.
However, some experts disagree that the province should be involved in sports betting, but the attorney general disagrees. He said sports betting is already taking place on a large scale in the province, but there is no protection. And in short, by regulating, the province adds the most important part, responsibility gambling.
Mitch Dobney was one of the market’s supporters and used the market to do business. He mentioned that the open market structure is best for everyone. He noted that if people can benefit financially but responsibly from the market, it’s a good thing, and if the province can do good with the money, it’s a much bigger win for the region. 홀짜게임
Currently, private operators cannot offer horse racing betting, but this could soon change the shared Woodbine Entertainment. The state’s largest horse racing operator said it needed approval from the Mutuel Agency in Paris, Canada, to provide racing to sportsbooks that can be offered to betting people. This is expected to become a reality before the end of this year.