A long-awaited debutiGaming Ontario has launched as a subsidiary of the Alcohol and Gaming Commission of Ontario (AGCO). It aims to provide a safe space for players to wager online and protect them from the dangers associated with gambling.
The government first announced plans for an independent gambling division last year. The gambling market in Ontario will launch this December.
Attorney General Doug Downey expressed his elation with the news: “Following Parliament’s historic vote to lift the prohibition on single-event sports wagering last month, the establishment of iGaming Ontario is another pivotal milestone in our work to ensure people have access to a safe and regulated online gaming market by the end of the year.
“We are determined to work with industry, responsible gaming advocates and regulatory partners to ensure Ontario is a world leader in building a safe online gaming environment that meets consumer expectations.”
The latest step towards a regulated market in OntarioiGaming Ontario builds on the progress of the province’s journey towards a safe online gaming market.
According to a recent study, Ontarians spend close to $1 billion a year on online gambling. 70% of this takes place on unregulated sites with no robust measures in place to protect players.
The Ontario Lottery and Gaming Corporation (OLG) will continue to manage and regulate its own igaming offerings through its own platform.
The impact on the wider communityFinance Minister Peter Bethlenfalvy explained how the division will affect businesses in the province: “Ontario’s new legal iGaming market will create new opportunities for Ontario businesses and a better, safer gaming experience for players,”
“A competitive, regulated online gaming market will provide a safer alternative to the unregulated, grey market websites that currently exist – and which may lack proper consumer protections or responsible gaming measures.”