Change is very seldom a bad thing, and if Canada’s Conservative Party has its way, Ontario’s online gambling industry may be experiencing its fair share of significant changes soon. Currently, the only operator tasked with and authorised to offer online gaming services is the Ontario Lottery and Gaming Corporation (OLG). But Canada’s largest province has indicated that it now plans on ending the OLG’s gambling monopoly by allowing private operators to get a scoop of the action.
According to a provincial spokesperson, the move to allow private operators to enter the online gambling market was made in an attempt to allow the local economy to better reflect the choices of its consumers. New ways to attract more revenue is constantly are constantly being explored, and an open operator market will go a long way towards making that happen.
Single-event bets too, have been a recurring theme and Ontario is strategically and logistically speaking, the country’s best bet to make the most of a legalised sports betting industry. Ontario is right on the US border, and home to two NHL franchises.
Regulatory officials have revealed that plans to set the blueprint for the new open market in motion will get underway very soon. Consultations with industry stakeholders are currently underway in an attempt to establish a regulatory system that will reflect the preferences of the province’s consumers, but remaining ever mindful of player safety and security at the same time. One of the golden keys to success will be to regulate compliance in such a manner that it does not place an undue burden on businesses.
The budget proposal also makes provision for players to purchase OLG Lottery tickets from their mobile devices. Players are currently only able to do this via the operator’s official Lottery website which is only accessible from a computer.
Professional sports executives have expressed the hope that legalisation of the province’s sports betting market happens sooner rather than later. According to National Hockey League Commissioner Gary Bettman, Ontario has the NHL’s full support in terms of a legalised and regulated sports betting market.
Ontario looks to the future during a very crucial time in the sports betting sector, and as such, there’s no time like the present to get the ball rolling.