Paul Burns, who serves as the President and CEO of the Canadian Gaming Association, found himself quite busy during the recent SBC Summit North America, a major event focused on sports betting and iGaming that took place last week in New Jersey.
It's no surprise, considering the lack of communication from the Alcohol and Gaming Commission of Ontario regarding the expansion of the market to include regulated sports betting, which has led to frustrations. Many had expected that the market would already be accessible. Presently, the only legitimate platform for sports betting in Ontario is the OLG’s PROLINE+.Ontario sports betting Once fully operational and competitive, Ontario is expected to emerge as one of the largest betting markets in North America.
However, predicting when this will actually occur has become quite uncertain.
Recently, deereplanet.com had a conversation with a representative from one of the private companies seeking a license in Ontario, who indicated that they do not foresee the market going live before the Super Bowl scheduled for February 13.
This aligns with information reported in several industry news outlets. If the open and competitive betting industry is not functioning by the Super Bowl—an event that generates an enormous amount of wagers in the U.S. every year—then the urgency may be questionable.
Sports Betting Canada Timetable
It might be wise for regulators to take adequate time to ensure everything is handled properly when it comes to laying down the regulations. The AGCO \"Regarding the launch date, we've not received any updates other than that they are making efforts to finalize it soon,\" he stated. \"The collaboration between the AGCO and iGaming Ontario, which is responsible for managing a competitive open market, aims to prepare everything. They want to provide certainty for both the government and the industry.
Their goal is to ensure that when a date is announced, it truly is the finalized date. They want to avoid any premature launches, which could negatively affect both the businesses involved and themselves.Burns told deereplanet.com \"I share the sentiment that it’s unlikely to be ready in time for the Super Bowl. However, I believe they are exercising caution. The industry had noted that the Super Bowl would be a prime time, but it’s also critical to not over-promise and under-deliver at the last minute, especially considering the substantial investments companies are making.\"
According to Burns, there's a significant interest in the market, and \"there's a hunger for information.\" Many companies are currently facing challenges because other markets in the U.S. are also beginning to open up. Thus, their main dilemma is deciding where to focus their resources while Ontario experiences delays.
"These companies operate globally with various priorities,\" Burns mentioned. \"So managing everything is a delicate balancing act.\"
Tax allocation issues are under consideration, and while Burns indicated that those who have filed applications and are currently engaged in discussions have been provided this information—after agreeing to non-disclosure agreements—there are still advertising constraints to navigate. Moreover, they are in competition with offshore betting operations.
"The challenge lies in transitioning companies from the existing grey market, which will inevitably become a black market once the official market opens,\" he explained. \"It's crucial to ensure that these companies have a solid plan to make that transition smoothly. Additionally, new entrants should receive all necessary support to be ready to enter the market immediately upon its opening. There’s a lot of balancing of interests at play, and much work remains to be done.\"
Tax Split A Crucial Issue
Comments made by Ontario’s Auditor General, Bonnie Lysyk, last week regarding potential hurdles with the legal framework for sports betting in the province have raised more alarm about potential delays.iGaming Ontario \"That news was disappointing,\" Burn stated. \"The government's aim here is to improve consumer protection and oversight, and I believe they are on the right path. I don't think there's a genuine cause for concern. That was the Auditor General's perspective, but she needs to grasp that for the government to operate in these areas, they require the flexibility to adapt and manage new interpretations simultaneously. The goal is to transition participants from an unregulated environment into a regulated one, and one important aspect she overlooked is that the AGCO already has a strong regulatory framework in place.\"
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Fromdeereplanet.com
