The Alcohol and Gaming Commission of Ontario has created a new subsidiary that will regulate gambling in online casinos. This new branch will oversee the online gaming market and work on making this Canadian region the international leader in this niche.
According to the attorney general of Ontario, Doug Downey, after Parliament voted to lift the ban on single-event sports betting the region got the right to establish iGaming Ontario and draw market regulations by the end of the year. Downey also stated that Ontario aims to follow the highest standards for online gaming regulations, including partnering with the major advocates of responsible gaming.
However, even after iGaming Ontario becomes fully operational, the AGCO will remain the ultimate authority for managing iGaming in the province. Apart from the new subsidiary, the AGCO’s scope will include supervising online gaming suppliers and operators.
Birgitte Sand, who leads this new online gaming project, will keep working with the government on finalizing the setup and ensuring that everyone is satisfied with the result — primarily social responsibility groups and First Nations communities.
Based on the latest research, Ontarians spend approximately $1 billion on online gambling, almost 70% of which takes place on “gray market” gambling sites. The newly Canadian-regulated market will offer a safer online gambling environment and keep these huge amounts of money within the state’s borders.
Players will be protected, as every online gambling operator will have to comply with strict rules related to safety and legality. Also, the province will see the rise of new business and job opportunities once iGaming Ontario is launched. When it comes to the Ontario Lottery and Gaming Corporation, it is expected to keep managing its online gaming products the same way it has during its history.
