Ontario is now open for business in the gambling industry
It is now official: Ontario is the first province to legalise private online gambling, making it the first to formally open the market for esports and online casinos.
Residents in the province can now bet on casino games, sporting events, and other activities through dozens of iGaming Ontario-licensed operators.
According to provincial officials, the new regulated online gambling market will "protect consumers and provide choice" – as well as provide a new revenue stream.
Critics argue that the move is unfair to traditional casino businesses: according to a gambling industry report, iGaming operators will only be taxed 20% of their earnings, compared to 55% for brick-and-mortar casinos.
According to industry estimates, Ontarians were already spending about $500 million per year on internet gambling, mostly with companies based outside of the province.
Previously, online gambling in Ontario was restricted to the grey market and the Ontario Lottery and Gaming's Proline+ sportsbook