After extensive deliberation and strategic planning, the Alcohol and Gaming Commission of Ontario has brought to light new rules to govern this lucrative sector.
This development bodes well for Canada, stepping away from the nebulous zone. It's a promising beginning towards nation-wide regulation, with potential for other provinces to emulate Ontario's pioneering initiative in due course.
Although you can't submit your application just yet, the AGCO has provided a blueprint for operators to meticulously prepare ahead of application acceptance, expected around December. But what does this mean for players up North?
Introducing Ontario's First Online Casino Regulator!
Currently, PlayOLG, a platform managed by the local authorities, stands as the sole option for legal online gambling in Ontario.
The regularization process in Ontario spells the end of PlayOLG's exclusive hold, opening the market to a wider array of choices for gaming enthusiasts.
The AGCO’s guide outlines the essential responsibilities for operators and the expectations regarding security measures each online casino must enforce.
Within this document, you'll find a checklist of all necessary legal paperwork required once the application period commences in December.
Acquiring this license will set operators back C$100,000 annually. While tax obligations are absent, operators must negotiate profit-sharing arrangements individually.
Who are the likely candidates?
There's buzzing anticipation about which operators eyeing Ontario, the nation's most populous province and host to Toronto, a major urban hub.
Some industry players have already voiced interest, with none more notable than Torstar Corporation, the media giant behind the Toronto Star.
Other interested contenders come from the U.S., steering highly successful brands across numerous provinces.
Without the application window open yet, foreseeing who will snag a Canadian license is a guessing game, yet there are bound to be some unexpected entries!
