Online Casino Ontario iGaming Industry Update

Posted on 2021-12-09 by Sean Williamson

Online Casino Ontario iGaming Industry Update

For residents of Ontario, it’s certainly a time of amazing change. Single event betting has been legalized, meaning that a whole new world of wagering is officially opening up. Though, it is still a few months until the online casino Ontario market is due to open up to the world. It was hoped that the market would open by the end of 2021, but now it seems like early 2022 is a more likely timeframe.

All of this is occurring in the online casino Ontario world, of course, due to the fact that sweeping changes occurred to local legislation. In both Ontario online gambling, and across Canada as a whole, it was decided that single event betting is now legal. This means, amongst other things, that the industry has been dramatically rejuvenated, and will likely soon be amongst the biggest and most vibrant in the world. As far as locals are concerned, betting enthusiasts now have more options available to them than ever before.

Regulation And Enforcement

But sweeping law changes aren’t made without serious consideration. An online casino Ontario may now be allowed to offer single event betting, but this certainly doesn’t mean that major changes aren’t being made to regulatory systems. A pair of entities, the Alcohol and Gaming Commission Of Ontario (AGCO,) and the newly formed iGaming Ontario, are responsible for overseeing the incoming market. They will be responsible for regulating each new operator that does business in the province.

As it stands, these operators are required to enter into a contract with iGaming Ontario. It is this process that is currently holding up the official opening of the market.

Updating Apps

SPORT SELECT, the popular online casino Ontario app, was recently updated to offer single event betting. The app previously only allowed parlay bets, but the single event betting option has now been added as of the 1st November.

This is the first app to add the option, though it likely won’t be long before others follow suit. Given that the change is recent, it only stands to reason that it will take time for changes to made to complicated software systems.

FAQ's:

Do I have to pay taxes on winnings?

There is absolutely zero tax paid on online gambling winnings in Ontario.

Will I need to verify my account to play?

Yes, it is required that an account is verified for it to be active. You’ll need to provide standard KYC documentation to do so.