Ontario Moving Quickly to Regulate Single-Sports Betting
The Ontario government is taking a key step forward in regulating single-game sports betting in Ontario.
A new subsidiary of the Alcohol an Gaming Commission of Ontario (AGCO) has been launched, it's called iGaming Ontario, and the goal of the branch will be to conduct and manage the new online gaming offerings in the province.
Attorney General of Ontario, Doug Downy, tells AM800 News they've retained an expert from Denmark to help with the process.
"She is very aware of all the European jurisdictions, the U.K., what's happening in the sates, so she brings a wealth of knowledge with her in terms of how to build that safe and robust system," Downey adds.
He says the goal is to make a made in Ontario platform. "I think we're gong to be the first in the country to do it. We want to have ours developed and then we can have conversations about whether we enter into agreements for what's called liquidity, the movement of money between provinces, that's an issue we're looking at to see where the boundaries are."
In terms of a timeline, Downey hopes to have a system operational by December.
"One of my goals is to have the single-event sports betting available and running by the Grey Cup, that's around December 10, that's the goal."
According to the iGaming Ontario website, stakeholders are currently invited to share insights and experience as the market oversight model is developed. It's expected draft agreements will be available in the fall with interested operators being able to register, followed by implementation in December.
After a nearly 10-year fight, Bill C-218, the single-sports betting will, was passed in the Senate on June 22 by a vote of 57 to 20 with five abstentions.
As part of the bill, each province is responsible for coming up with its own rules and regulations.