Ontario launched its online gaming and sports betting market earlier this year and industry experts are now sharing their first impression of the framework. Most recently, Cameron McDonald, director of national sports and gaming law at Toronto-based Borden Radner LLP, says the market’s true potential has yet to come to life.
The regional iGaming framework officially began operations on April 4, 2022, and is the first market in Canada. Regulated by the Ontario Alcohol and Game Commission and its subsidiary IGaming Ontario, it has raised more than C$10 billion in handling so far, but some experts believe it has performed poorly compared to the United States.
Nevertheless, McDonald’s colleague Gallen Flaherty says comparisons to the U.S. market are not fair. According to him, Canada allowed gray market brands to operate with impunity, which made things different from the United States, where gambling laws were actively enforced. So, this means a much longer transition period for offshore operators in Canada.
Mr Flaherty claimed Ontario’s numbers were promising, suggesting growth was accelerating in the sector. According to him, with the major leagues returning to the regular season, most betting activities typically occur in the third quarter. In addition, he also predicts that the state will soon be able to build more than 70 websites online and receive bets.
In October, AGCO announced that it would end its transition period for gray market operators on October 31, 2022. The Commission has set that date as a deadline for operators to comply with the new standards. Game brands that do not do so risk being out of the limelight of local regulators and potentially losing their registration opportunities. 카지노사이트
Meanwhile, Mr. McDonald also supported the state’s market potential due to his tremendous desire for online gaming among local players. Previously, the Canadian games summit reported that there was a lot of interest in the local sector from other jurisdictions, as Canadians had 15 million fraud attempts to access the market.
Damian Goodwin, UK-based chief operating officer at King’s Entertainment Group, an international online gaming company that has focused on Latin America so far, is also interested in the market. With the introduction of the regulatory market, the CEO said the company is now interested in starting operations in the market.
Recently, AGCO also released a second-quarter report on the local iGaming sector. Effective July 1-September 30, 2022, the region generated a total betting volume of C$6.04 billion and gaming revenue of C$267 million or more. At the time, 24 operators and 42 gaming websites were operating in the area and had over 628,000 active users.