Ontario’s gaming market is now worth $3 billion. Paul Burns, CEO of the Ontario Lottery and Gaming Corporation (OLG), gives an update on Ontario’s gaming industry.
The Ontario Gaming market is attracting investment from around the world, but has yet to come into its own. With an unclear future for online gaming in Canada and other countries moving away from land-based gambling, what hurdles will be faced by Ontario’s casinos?The “Paul Burns Gives Update on Ontario’s Gaming Market” is a blog post from Paul Burns, the President of the Canadian Gaming Association. In this article, he discusses the current state of the gaming market in Canada and what it would take for casinos to thrive in Ontario. Read more in detail here: paul burns canadian gaming association.
At Ontario, gaming operators are anxiously awaiting approval from the Canadian Gaming Association to provide single-sport betting in casinos and online sportsbooks. Despite being very busy in recent weeks, the association’s President and CEO, Paul Burns, guaranteed the sector that the market will open in Q1 of 2022.
At the end of August, single-game betting was become legal in Canada. Currently, only provincial lottery organizations like the OLG and the BCLC provide it, while commercial operators like FanDuel, DraftKings, PointsBet Canada, BetMGM, and others are waiting for approval to enter the lucrative industry.
There is no specific date.
Mr. Burns said last Wednesday that he couldn’t provide a specific date for the market’s launch, but that it should happen in the first quarter of 2022. The President and CEO emphasized that the two responsible agencies – iGaming Ontario and the Alcohol and Gaming Commission of Ontario – are doing everything necessary to provide the new service as quickly as possible.
The Ontario Lottery and Gaming Corporation (OLG), which regulates land-based casinos in the province, said it is working on a plan to allow casinos to provide single-event wagering. Mr. Bitonti added that the agency is initiating discussions with service providers while also negotiating with the AGCO for the regulatory standards needed to incorporate sportsbooks into physical locations.
Mr. Burns also said that casinos that have lately been permitted to renew their operations are dissatisfied with the delay in the introduction of single-sport betting. The President and CEO expressed his unhappiness with the situation and expressed his disappointment that retail sportsbooks have yet to be incorporated into the province’s casinos, who are eagerly awaiting the new service.
Furthermore, Mr. Burns said that launching the new market before the next Super Bowl, which is one of the greatest athletic events in the world and would produce massive betting volume, would be tough. Operators would face certain adjustments, according to him, including the migration of all futures bets to a compliant platform.
A new online regulator has been established.
The government of Ontario established iGaming Ontario to prepare for the introduction of single-sports betting and the launch of its new open iGaming sector. This is a division of the AGCO, which is currently in charge of regulating all forms of internet gaming in the province. This new regulator is also in charge of evaluating operator applications and selecting the best candidates for licensing.
Request has been submitted.
FansUnite is one of the gaming companies that has sought for an Ontario license. The Gaming Related Supplier – Manufacturer license will enable the company to sell regulated gaming items in Ontario. Scott Burton, the company’s CEO, said that the province’s strategy would serve as a model for other regions looking to launch similar markets.
Source: Steve McAllister, Toronto Star, November 19, 2021, “Online sportsbooks and casinos are still waiting for the go-ahead for single-event betting.”
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