Canada’s largest province officially launched a regulated online gambling market on April 4. Ontario residents can now legally register at online casinos and bet on any type of gambling entertainment.
The local gambling commission will control the online gambling market. Many well-known slot providers and casino operators have already obtained licenses. Among them:
- LeoVegas Group.
- Rush Street Interactive.
- Gaming Realms.
- BRAGG Gaming Group.
- 888 Holdings PLC.
- Inspired Entertainment.
- Kindred Group.
The decision to legalize gambling on the Internet was made by the Government of Ontario three years ago. In 2019, there was information about the beginning of the drafting of a corresponding bill. But it was not adopted until 2020, and April 1, 2022, was a landmark date for all representatives of the iGaming market.
According to a report by PlayCanada, which is responsible for monitoring the Canadian gaming market, the legalization of gambling entertainment in Ontario will create almost 1,300 jobs. Just as importantly, the treasury will be able to receive multimillion-dollar annual tax payments from the operators of gambling sites. All of this will take the region to a higher level in terms of economic and social development.
Representatives of the local gaming commission noted that at the moment not all operators and providers have received a license. Over 30 applications are pending approval. This will allow new participants to connect to the iGaming market and thus increase income from gambling entertainment.
Why Legalization Is Needed
Even though experts are glad to see news about legalization, some inexperienced gamblers don’t understand why it’s so significant. Here are just a few reasons:
- Underground casinos will go down in history. The adoption of the law on the legalization of gambling is a great positive not only for the state, but also for society as a whole.
- Gamblers are protected. Anyone and everyone is allowed into underground casinos. You can come from the street and go back to the street without pants. And the risks here are not limited to fraud from an illegal casino. People sometimes need to be protected from themselves. And nowhere is this more clear than in the gambling business. The new legislation clearly describes how the interests of players will be protected.
- The gray market on the Internet will be destroyed. The Internet is a territory of freedom. At least for the most part. It is very difficult to ban something and fight against illegal services on the Internet. Most bans and blockages can be easily circumvented with VPN services and other simple solutions. Another issue is that playing in illegal casinos is fraught with problems for players with the withdrawal of winnings. Be that as it may, online gambling cannot be stopped. It is much easier to legalize it. And it should not be regulated like physical casinos. You can tell them they can only be at hotels and that’s it. You can’t do that with online platforms.
And these are just a few reasons that legalization means a lot for the gambling industry.