This will resolve an ongoing development dating back to April 2019, when the government of Ontario ended their Lottery and Gaming monopoly on iGaming, freeing up the industry within the province to advocate for private operators moving forward. And then, in November 2020, the plans went ahead, and the legislation came to fruition in 2021.
AGCO delivered their conducting igaming and sports wagering regulatory standards in Q4 of 2021; these included advertisement expectations and the importance of integrity.
Sports betting parlays have long been available via provincial lotteries, but in August 2021, they added single-event sports betting.
Said rules were interspersed with AGCO's current Registrar's Standards for online gaming, which were presented in July 2021, and will finally come into effect on April 4, 2022.
Therefore, beginning April 4, gaming operators opting to deliver their services in Ontario will be required to register with the AGCO whilst simultaneously applying to receive an operating agreement from iGO. "Consumers can be assured that companies who successfully enter the new Ontario market will have met rigorous standards of game and operator integrity, fairness, player protections, and social responsibility, allowing all players to play with confidence," commented Martha Otton iGO's executive director.
"Today, most internet gaming by Ontarians takes place on websites not conducted and managed by the province," Otton continued. "Our new internet gaming marketwill give consumers enhanced entertainment choice, support the growth of a new, legal market and generate revenue that can help fund programs and services that benefit all of us."
Jay Snowden, Penn National Gaming's president, alongside John Levy, theScore chief executive, equally shared their delight.
"Launching theScore Bet in Ontario will mark an exciting expansion of our online gaming business into a major new market where we already have an established mobile sports media product in theScore app and a wide base of loyal users," Snowden commented.
"Today’s news is inspiring, and I would like to recognize and congratulate the government of Ontario and the AGCO and iGaming Ontario for their dedication to creating a modern open and regulated sports betting and igaming market.”
Levy extended those comments with: “The AGCO and iGaming Ontario have been thoughtful and collaborative in their approach to creating and managing this new industry, and the result is a soon-to-be-launched framework that will bring widespread benefits to Ontarians and establish Ontario as one of the biggest and most important regulated gaming markets in North America.”
Ontario could soon become the most profitable online gambling market in North America. When considering the population – the second largest in the market after New York – the multiple brands at competition with one another, and the high probability of large bonus rewards up for grabs to consumers. Ontario online casinosand sports betting operators within the province will unquestionably become significant players, and the projected revenue figures can cause neighboring regions to follow suit.