Ontario is on the verge of launching a new, dynamic, and regulated online gambling landscape, with a recent report from Eilers & Krejcik Gaming and The Parleh Media Group suggesting that it could reach a remarkable value of over $2.2 billion when fully developed, comprising $904 million in online sports betting gross revenue and $1.3 billion in online casino gross revenue.
The same report anticipates that by 2026, more than 40 commercial brands will enter a legally regulated space for both online casinos and poker.Ontario online sports betting The Canadian Gaming Association indicates that Canadians place $14.5 billion on sports annually, but only $500 million of that is conducted through legal channels.
Currently, the sole regulated sportsbook in Ontario is the PROLINE+ platform operated by the Ontario Lottery and Gaming Corporation. Amanda Brewer, a senior adviser with the CGA, notes that critical details such as tax implications are not yet available in the Ontario licensing application process, leaving uncertainty about the level of competition.
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Nevertheless, prominent international betting companies are positioning themselves strategically in the province.DraftKings Ontario , BetRegal,BetRivers Ontario andPointsBet Ontario Let’s take a look back at the significant milestones that led us to this current scenario.
Member of Parliament Kevin Waugh from Saskatoon-Grasswood puts forth the Safe and Regulated Sports Betting Act (C-218) in Parliament, aimed at overturning the ban on single-game wagering stated in Canada’s Criminal Code. This new legislation would empower individual provinces to determine their own sports betting regulations.Ontario betting :
February 2020
The major North American professional sports leagues (NFL, MLB, NBA, NHL, and MLS) send a letter to Prime Minister Justin Trudeau advocating for the formal regulation and expansion of sports betting across Canada, emphasizing the need to steer Canadians away from illicit offshore betting sites.
June 2020
Bill C-218 successfully completes its third reading in the Canadian House of Commons and progresses to the Senate for further examination. This represents a significant achievement for Waugh’s initiative, which started over a year earlier.
April 2021
C-218 passes through the Standing Committee on Banking, Trade and Commerce, and then moves forward to the Senate for deliberations, ultimately receiving a favorable vote of 57-20 later that month. On June 30, Bill C-218 is granted Royal Assent.
June 2021
Canada's Minister of Justice and Attorney General, David Lametti, announces that Bill C-218 will take effect on August 27. On that day, provincial lotteries introduce their sports betting offerings, marking the official legalization of single-game sports betting in Canada.
August 2021
Ontario is one of the first regions to embrace this change with vigor through PROLINE+, and in collaboration with the Alcohol and Gaming Commission of Ontario (the provincial regulatory body) and iGaming Ontario (a branch of the AGCO, tasked with overseeing and managing iGaming with private operators), takes steps towards establishing a regulated online sports betting system.
This initiative opens the door for operators and suppliers who are interested in joining a regulated market in Ontario.
September 2021
The AGCO opens up registration forOntario online casino The anticipated launch of Ontario's competitive iGaming marketplace (with a projected start date by iGaming Ontario) for operators who have signed agreements with iGaming Ontario.
December 2021
Online Casino Game in Ontario is bursting with excitement and engaging features.
Fromdeereplanet.com
