Ontario Launches Legal Online Gambling Market
The local gaming commission will oversee the online gambling market, and many well-known slot providers and casino operators have already secured licenses.
The decision to legalize online gambling in Ontario was made three years ago, with initial discussions about the relevant legislation beginning in 2019. However, the bill was only passed in 2020, and April 1, 2022, marked a significant milestone for all stakeholders in the iGaming sector.
According to a report by PlayCanada, which monitors the Canadian gaming market, the legalization of gambling in Ontario is expected to create nearly 1,300 jobs. Equally important is the anticipated annual multi-million dollar tax revenue that the government will receive from gaming operators. This development is expected to elevate the region's economic and social growth.
Representatives from the local gaming commission noted that not all operators and providers have received their licenses yet, with over 30 applications still pending approval. This will allow new participants to join the iGaming market soon, thereby increasing revenue from gambling activities.
To attract customers, operators will be able to utilize Google advertising, although there are certain restrictions in place: promotions for bonuses, free credits, and other types of incentives are not permitted.
In related news, the gaming inspection and coordination bureau of Macau recently reported a 54% decline in gambling revenue for March.
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