Ontario’s New iGaming Regulations
What Does It Mean For Mega Moolah Lovers?
Gambling has become a serious business in Ontario with the regulations of iGaming products in the province. Ontario Gamblers now have a regulated market that offers casino games and sports betting events. From now on – every online casino wishing to offer their services to citizens of Ontario will have to be registered in the province.
On April 4th, 2022, the province launched an open online gambling market. This market comprises sports betting, and casino gaming platforms legalized to receive wagers via the internet. Currently, residents have multiple online options to spice up their gambling adventure aside from retail casinos, offshore operators and the Ontario Lottery and Gaming Corp website.
The launch of iGaming was successful due to a couple of collaborations that involved the local government. First, the Alcohol and Gaming Commission of Ontario (AGCO) has oversight of the online gambling market via iGaming Ontario, a subsidiary. They oversee online slots, resort casinos, racetrack wagering, lottery, etc.
The legislation regarding internet gaming products in Ontario has a lot of meanings for punters. Primarily, it is expected that there would be a huge movement of punters from the brick and mortar setting, offshore operators to legal online gambling operators in the province. This means that some online casinos will no longer be offering their services to Ontario punters.
The rollout of the online gambling framework draws prospective online operators into the province, which will result in a decline in the membership of the retail operators. Various sports betting operators have stormed the province to offer payable gambling products. More operators are expected in the coming months, thereby offering more options for gamblers.
While Ontario is expected to be open and friendly to online operators, the change in circumstances has driven some of the existing online casinos away. Several casino brands have decided to stop offering Ontario residents access to their sites. It is still unknown whether these online casinos will join the Ontario market again, meaning that some punters will lose their favourite online casino.
Regulating the market helps the government generate tax revenue. In turn, it is creating more jobs for the residents. Punters would enjoy seeing their contributions via taxation to the growth of their surroundings. Addictions specialists can monitor punters. As well, there are agencies set up to guide such players. Generally, it promotes responsible online gambling in the province. Often, unrestricted access to internet gaming creates problem gamblers.
Legal online gambling kicked off in Canada last summer. But its presence was not felt in Ontario until April 2022, which saw the legalization in the province. However, the province had anticipated the need to introduce iGaming and began some regulatory framework in 2019. Before now, punters could only place parlay bets and single-event wagering. To enjoy real internet games, punters had to try out offshore markets.
Ontario’s online gambling market is described as one of the top five markets in North America. Gambling is not a new concept to residents in the province. Ontario has about 15 million people and is projected to generate up to $800 million yearly in terms of revenue in 2022. With a population of 12.8 million and a regulated market, Pennsylvania generated over $500 million in 2021.
The huge revenue generation is why the Ontario government decided to change its regulation to take advantage of the gambling industry. Thereby stopping punters from accessing offshore platforms and gambling operators. Punters can have a safe, reliable, and regulated platform to get quality entertainment while the government generates some revenue. In addition, private operators would register with the Commission and pay tax for legal access.
Furthermore, these regulations or measures are meant to enable a responsible gaming environment, prevent underage gambling, and stop money laundering activities within the province. If gambling is regulated, the government can have full control over its citizens and offer help, especially to problem gamblers.
The nature and worth of casino operators entering the Ontario market say a lot about the gambling market. Betting operators are business enterprises that would not enter a market that won’t generate good revenue for them in the long run.
This is the big question because we are on a site entirely dedicated to the millionaire maker – Mega Moolah. However, the answer is simple, and honestly? a little disappointing. At the moment, players cannot play Mega Moolah in Ontario. We believe that will change in the near future.
Mega Moolah is a game created by Microgaming, who have been creating excellent casino games for almost 30 years. The games are easily known for their high standard and quality. So it is no surprise Ontario punters will be waiting for the game to be available for them again.
The Ontario iGaming market is a profitable and well-established gambling space. The new regulations are there to ensure that players are safe and secure. Though the options for now are fairly limited, more features and options are going to be made available in the future.