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(Bloomberg) -- Ontario’s online gaming industry is anticipating the provincial government will move ahead soon with regulatory changes to allow private operators into the market.
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Canada’s most populous province unveils a new budget on Nov. 5 that is expected to be focused on the Covid-19 response. Operators say they hope online gambling will be at least referenced, and high on the priority list soon after.
An expansion of online gambling would generate new revenue for the government at a time when spending and deficits are soaring because of the pandemic. It would also fulfill a pledge Premier Doug Ford made in last year’s provincial budget to “establish a competitive market for online legal gambling.”
The province currently allows only online gambling run by government-owned Ontario Lottery & Gaming Corp. Last year, the province’s finance department estimated that most of the C$500 million ($375 million) Ontario residents spend on online gambling flows to gray market websites.
Read more: Ontario’s Record Borrowing Plan May Turn to Overseas Investors
Online Gambling Ontario Law
“There’s a tremendous benefit to bringing this out of the shadows and into the forefront and take advantage of this regulatory change that will protect consumers and bring revenue to the government,” said Paul Burns, chief executive officer of the Canadian Gaming Association. “It will also be a very strong economic driver to the industry to get companies to locate and operate here.”
Finance officials declined to give specific timing for regulatory changes. “Over the coming months, the government will work to develop a new model for online legal gambling to help foster an exciting gambling experience,” said spokesman Scott Blodgett. “Financial details will be determined once further work has been undertaken.”
Revenue Boost
Legalized online gambling in Ontario would generate about C$547 million in annual revenue after five years, said James Kilsby, a Washington-based analyst at Vixio GamblingCompliance, a company that provides regulatory intelligence to the gambling industry.
How much that adds to Ontario’s coffers depends on the tax rate that’s applied. Most European countries tax online gambling at 15% to 25% of gross revenue, he said.
Ontario is expected to set a “reasonable” rate compared to global peers, according to Danielle Bush, a partner at Miller Thomson LLP in Toronto and the corporate secretary of the Canadian Gaming Association.
“About 18% to 20% is what’s floating around within the industry,” she said. That would work out to C$100 million to C$110 million in tax revenue for a province that’s projected to have a C$38 billion deficit this year.
Sports Betting
In the longer term, there’s also potential to cash in on single-event sports betting, currently prohibited under Canadian criminal law. If that type of gambling were legalized, revenue would swell to C$1.47 billion for Ontario, Kilsby said. Single-event sports betting would require legislative change by the federal government.
In the U.S., iGaming and online sports betting generated nearly $160 million in tax revenue in 2019, according to the American Gaming Association. New Jersey accounted for the lion’s share, with $114.1 million, following a 2018 U.S. Supreme Court decision that struck down a federal law that restricted sports betting in most states.
Kilsby expects about 30 to 40 U.S. states -- including Michigan, New York and most other states that border Canada -- will have full legal sports betting within five years. Ontario, which has a population larger than all but four U.S. states, “would be another landmark opportunity in North America” if Canada were to liberalize sports betting, he said.
| FanDuel Inc. |
| GVC Holdings Plc. |
| DraftKings Inc. |
| Mohegan Sun Casino |
| Great Canadian Gaming Corp. |
| Hard Rock International |
Social Cost?
The question is whether governments in Canada want to brave the criticism they may face for opening the door to more gambling. On one hand, the virus has sharply limited entertainment options, creating the potential for higher-than-normal demand. On the other, politicians may face heat for fueling a rise in gambling losses or addictions in the midst of a crisis.
There is already evidence that online gambling results in higher rates of problem gambling, said Nigel Turner, an independent scientist with the Institute for Mental Health Policy Research at Canada’s Centre for Addiction & Mental Health.
“Anytime you make gambling more easily available, you run the potential risk of having more people gambling money they can’t afford to lose,” Turner said.
Proponents say regulating the industry offers the best way of ensuring that people who need help for gambling problems can receive it.
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“We’re excited by what we’re hearing both at the federal level and provincial level,” John Levy, founder and chief executive of Toronto-based Score Media & Gaming Inc., said in a telephone interview. “We hope we don’t have to wait too much longer for it to happen.” The firm has a sports betting app that’s available in New Jersey, Indiana and Colorado.
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Questions about PlayOLG
What is PlayOLG?
PlayOLG is an online casino that is aimed at residents of Ontario. It offers a good selection of casino games and also has access to a number of different lottery competitions. There are a number of features available at PlayOLG, with players given access to promotions and lots of other bonuses. There are also instant win games that function like scratch cards that can be played at PlayOLG. It has a lot of positives, although there are some smaller issues that stop it from being a go to for every Canadian player.
The main one is that it’s only available to residents of Ontario. This means that players who are outside of this province will not be able to enjoy the range of games and features that PlayOLG offers. However, if you are inside Ontario then there are a lot of positives on offer here and it should definitely be a casino that players consider trying out.
Can I play PlayOLG from other regions other than Ontario?
This is a nuanced question. While at first glance players can only play at PlayOLG if they are in Ontario, there are some aspects that make the answer not quite that simple. Firstly, if you’re not a resident of Ontario, but you are inside the province then you can play at PlayOLG. You must be inside the area in order to play though, so once you go back outside then you won’t be able to use your account. Not officially anyway.
PlayOLG doesn’t block VPN connections. So this means that players from outside Ontario will be able to gain access to the site. However, if you use this method to play at PlayOLG, then it is quite a risky tactic. It does mean that if PlayOLG discovers you are not within Ontario when you are playing then you could have your account closed and your funds confiscated. So it’s best not to take that risk unless you understand there is a good chance you could lose all of your bankroll.
Does PlayOLG offer a lot of games?
While at first glance it might appear that PlayOLG has a limited choice of games on offer, this is actually not the case. It has a very good selection of titles, they’re just not that easy to find. The site navigation could be a lot better, which would make the good range of games a lot easier to discover. However, it does offer slot games, progressive jackpot games, table games, video poker and even horse racing. This is on the whole an excellent selection of games and gives Ontario based players plenty of games to choose from.
However, it doesn’t end there. PlayOLG also gives players the ability to play at a lottery and offers instant win scratch card games. This adds to the total games that are available and makes it easy for players to find a game that they will enjoy. Once you get past the site layout, the game choice is top of the line.
Does PlayOLG offer a new player bonus?
It does! There is a $300 starter package available at PlayOLG. It actually has one of the most rewarding welcome bonuses that’s available on the market. It is awarded across the first three deposits that players make to the site and comes as a 100% matched bonus on each of those deposits. The bonus is available up to a maximum of $100 on each of the three deposits which adds up to the total of $300. A promo code is required for each deposit, so it’s an opt in bonus. The codes are all very simple to remember, “first”, “second” and “third” are the three codes that need to be used on each corresponding deposit.
What makes the bonus so rewarding are the wagering requirements. They are some of the very lowest wagering requirements on the market.Players have to wager just 10 times the bonus amount in order to get access to the bonus cash for withdrawal. So if a player got a bonus of $100 in total, they would have to playthrough just $1,000 before bonus withdrawals could be made.