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Online Gambling USA / Established global operators vying for Canadian market share

Established global operators vying for Canadian market share

Thomas Chambers
Author:
Thomas Chambers
Publish Date:
03/12/2021
Experiences:
Passion for soccer but also an expert on most sports markets

The Canadian iGaming sector is a hugely-promising market for state coffers as well as private operators. Most recently, the much-anticipated launch of a legal Ontario iGaming industry still seems to be finding its feet. However, this has not dissuaded potential investors and operators from showing interest. 

Canada legal sports betting

However, it’s not all sunshine and roses at present. The Auditor General of Ontario has raised several concerns about the planned expansion of online sports betting in the province. At the very least, he’s outlined several conditions that need to be met before lift-off is realised.

Conditions and mandate for Ontario iGaming state stakeholders

In order for Ontario to successfully get legal online sports betting off the ground, there are three conditions that must be met. Naturally, these are non-negotiable and will depend heavily on whether iGaming Ontario, a subsidiary of the Alcohol and Gaming Commission of Ontario (AGCO) are up to the task.

The first condition outlines that legal action against private operators is a no-go. Thus, it’s imperative that background checks and sufficient research is done so as to mitigate any potential lawsuits that may stem from allowing operators in with chequered pasts.

The second condition involves ousting those entities that continue to operate in grey areas. Private gambling sites that have the propensity to provide offshore betting services, without taking current regulation into account, must be rooted out. Thus, legal integrity must preside over all practices and activities that pertain to the iGaming industry.

Lastly, a requirement has been put forth that regulatory responsibility must not be left to the private sector. There are certain aspects that have certainly shifted away from government control due to a more open market. But, the basis of this condition looks to iGaming Ontario to ensure fair and proper governance.

Established players coming to the fore

News, and recent actionable developments, have meant that numerous established operators are coming into the fold. Penn National Gaming has backed – what was a well-known sports media company – to take on the Ontario market by storm. Penn National acquired the media company in the past year. What this means is that it is able to put forward an established betting brand as the face of expansion in the province of Ontario.

This isn’t the only private operator that is set to appear come 2022. Another prominent enterprise will be looking to provide players with a more Canada-centered platform and overall experience. It’s certainly a thrilling time to find yourself in Canada as online betting takes hold.

What this means for the public

Interestingly, the public will certainly be divided in two on the matter. A large percentage of residents will be excited to have the opportunity to finally access legal single-event online sports wagering from reliable and trusted platforms. It remains to be seen precisely which private operators will be permitted to provide online betting services.

A recent study conducted in the US noted the influx of betting advertisements throughout the country. Canada might be at this point yet but steady growth in the gambling industry may well mean this changes sooner rather than later. With regulators working day and night in Ontario to open up its doors, a sudden boom in gambling content is but a small step away. It’ll be interesting to see how regulators and private media companies handle the inevitable boom.

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