There are many reasons why people love sports betting. For some, it is a way to enjoy their favorite sport and maybe make money, if they guess the scores. For others, it is a way to bond with their best friends while watching their favorite sport. It is safe to say that sports betting is popular in every country in the world. It is not important if sports betting is legal or not, people will find a way to bet. That is also the case with Canada and the betting sites there. Sure, there are many Established online casinos and betting sites in Canada, but the rules are changing for those as well. Today, we are going to show you what are the new laws and regulations when it comes to the sports betting scene in Ontario.
Operators Will Need To Be Legal
This may confuse some people. If you are not familiar with the online casino market or the sports betting market, you may expect every single one of those operators to be legal. That is a logical thing to think. A business simply needs to be legal. Well, that is not always the case, especially in this market. But, that will change by the end of October. The Alcohol and Gaming Commission of Ontario decided that October 31 is the final date that those former gray-market business transition to the transparent market or be fined.
But, you need to know that this is not the only change coming to the regulated online casino and sports betting market. At least, that is what it looks like. Just a couple of days after reminding stakeholders that their time is running out, the Ontario government sought feedback from stakeholders when it comes to the regulated promotional partnerships.
The Ontario government has converted many of the unregulated operators that previously served Ontario and Canada. The names like bet365 and Pinnacle, for example. Here are some of the new rules.
Operators and gaming-related suppliers must cease all unregulated activities if, to carry out those same activities in iGaming Ontario’s regulated online lottery scheme, it would require registration under the GCA.
Operators and gaming-related suppliers shall not enter into any agreements or arrangements with any unregistered person who is providing the operator or gaming-related supplier with any goods or services if, to provide those goods and services in iGaming Ontario’s regulated online lottery scheme, it would require registration under the GCA.
Those who do not get with the program, however, are going to be subject to sanctions from the AGCO.
The Good That May Come Of It
The interesting thing, however, is that the federal government did not want to join the conversation when it comes to regulating the new gaming and betting market in Ontario.
It is safe to say that most of the Canadians do not like the thought of the Federal Government imposing some federal laws and regulations in this market, truth be told, those rules will strengthen the market by ensuring that market actors are playing on the same terms in every place in Ontario and Canada. Not only that, but this type of regulation will add federal criminal protections against match-fixing. This would definitely refresh the market in this country
Sure, the match-fixers in Canada could be prosecuted under existing laws in Canada, but, it seems that every opportunity to use existing laws to target match-fixers affecting Canadian sports has failed the citizens so far. The government of the province and regulators simply cannot work on their own to make regulated sports betting safe and functional, and this is where the federal government could make things easier for Ontario.
Casino Owners And Sportsbook Owners Will Need To Be Careful After Halloween
Sure, the October 31, is a scary date for many people. This year it is also scary for anyone who owns an online casino, a local casino, or a betting site. Even though there is no transparent news when it comes to financial fines for anyone who breaks the rules after Halloween, it is safe to say that the Government of Ontario will definitely seek those who break them. That is why both players and owners need to be careful regarding their hobbies.
If you are a person who enjoys playing online casino games or betting on sports on the internet, this article should be a cautionary tale for you. That is especially true if you live in Ontario or in a place where the Government of Ontario has power. For now, it seems that there will be no new laws and regulations when it comes to online casinos and betting sites, but if this has taught us anything is that the people who work for the government are determined to make this market as transparent as possible. Sure, the transition period will be a bit strange, but once it is over, the players and owners will finally be able to relax.