It has now been three years since casino gaming was legalised in Ontario, and the activity is very popular. That applies to both the online and offline versions.
Millions of people are choosing to access online casino Ontario options, attracted by the broad range of games on offer, the bonuses, and the convenience. This is not surprising, because online casinos have been a hit in every country where they are legal.
However, the move to introduce a lawful, regulated casino market has also led to rising interest in land-based Ontario venues. The policy has truly been a win-win for the casino gaming sector.
But will that continue to be the case in the years to come? That is what this article will look at in more depth.
How do the Ontario Laws Work?
At the heart of the province’s regulatory system is the Ontario Lottery and Gaming Corporation (OLG). That organisation has the responsibility for overseeing the casino sector in both its online and offline versions.
Anyone who wishes to set up a land-based or online casino in Ontario must be authorised by the OLG. That authorisation guarantees users of the casino that it meets the standards for data security, gaming fairness, and financial transparency.
In turn, the OLG reports to the Alcohol and Gaming Commission of Ontario (AGCO). That body sets and applies the various regulations – for example, making sure online casinos use random number generators.
There is also a third level of regulation, which comes from the gambling sector itself. The Canadian Gaming Association has established guidelines for ensuring responsible gambling, and all Ontario casinos must abide by these rules.
It is not hard to see how these layers of regulation are beneficial to the general public, but it might be assumed that they would stifle market growth. That has not proven to be the case though.
How the Laws Have Helped to Grow the Casino Market
What has happened since the regulated casino market was introduced is a boom in casino gaming? The results are so striking that parts of Ontario that do not have many casino options at the moment – such as Toronto – are now openly considering the advantages.
When we look at the figures, it becomes easy to see why. For the first full year after it was launched, the regulated market produced a profit of $1.40 billion – and that was just the beginning.
By the end of the second year, iGaming Ontario was reporting that profits had risen to $2.4 billion. Then this year brought a further increase, with annual profits of $3.20 billion. That amounts to a 129% increase over the past three years.
Of course, not all of that revenue comes from casino gaming. However, that accounted for $2.40 billion of the total, which is the lion’s share of it.
When the figures are broken down on a month-by-month basis, it is January and April of this year that have proved to be the biggest months yet. April saw a rise of 6% in overall iGaming revenues, compared with the previous month, while for online casinos it was 1%.
Much of that is attributable to an increase in the number of people creating accounts at casino sites, which went up by 3%. That is a very positive sign in terms of future market growth.
Reasons for the Growth of the Ontario Casino Market
So, we have established that the casino market in Ontario is growing rapidly since its regulated legalisation. Now we need to understand the reasons behind that growth.
- Security and safety
One reason is undoubtedly the sense of security and safety that a regulated market provides. Those who create accounts with casino sites in Ontario know that everything from their personal data to their money is protected by the law. They also know that the gaming will be fair and above board.
- Gaming quality and variety
Another reason is the sheer quality and variety of the games on offer at Ontario casinos. From the very latest slot machines to all of the different table games, customers can find anything they want.
- Accessibility
A third factor is the convenience and accessibility of online casinos. The sites can be used at any time of the day or night and from any location with an internet connection.
The Future
Most observers are forecasting that the revenues for this market will continue to rise in the coming years. That is leading other provinces to look closely at the situation and consider following Ontario’s lead.
Alberta is the province that has publicly expressed interest in adopting a similar model. Last year, it was revealed that those plans are moving forward.
The online casino market in Ontario is growing because of regulation, not in spite of it.
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