INSIGHT IGAMING COMPLIANCE NORTH AMERICA
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With New York potentially opening its arms to the world of iGaming, should operators err on the side of caution and wait for the tax regulations to work themselves out or be the first in the room?
Tere’s currently a half-dozen states where iGaming is legal, and of those, three share a border with New York. Tose being New Jersey, Pennsylvania, and Connecticut. Te remaining three being Delaware, Michigan, and West Virginia. With New York topping the nation in sports betting figures, and a New York State Senator saying he anticipates iGaming will bring in more revenue than sports betting in New York, it’s hard to ignore the urge to jump headfirst.
Tere’s a list of pros and cons associated with waiting or having first mover advantage, however, if sports betting roll outs are an indicator, especially for sizeable and popular markets such as New York, where money bet on sports has outpaced states such as New Jersey, Nevada, and Pennsylvania, the ‘early bird will not only get the worm’ but enjoy first mover advantage spoils too. Tis is amplified in jurisdictions where it may be decided to only allow for a limited number of license opportunities.
Tat said, depending on the size and appetite of the operator, their ability to meet or exceed consumer demand, and shareholder expectations, and all the while supporting regulatory requirements, there is obviously less risk for established companies with stronger balance sheets who entered the regulated sports betting market because they were playing the ‘long game’ waiting for regulated iGaming.
Pioneers in the digital industry content iGaming is where the ‘real money is at’, but either way, tax is only one large and important consideration that must be taken into consideration when determining whether to wait or be first in line.
Ontario has had a challenging iGaming rollout, hamstrung by regulations and inducement limitations. Is the potential still there, and what are GLI's ambitions across Canada?
April 4, 2022 marked the launch of Ontario's new iGaming market, which included online casino, poker, and sports betting/event wagering sites. iGaming Ontario (IGO), a subsidiary of the Alcohol and Gaming Commission of Ontario (AGCO), introduced new iGaming standards for gaming suppliers
P80 WIRE / PULSE / INSIGHT / REPORTS
“At the date of writing this article, there were 69 individual website URLs listed on the IGO website. Couple these increasing figures with the fact that currently, Ontario is the only province in Canada with a license and regulate model that extends beyond the provincial crown-operated lottery within it, and it’s not yet been one full calendar year since initial launch of the
market, it follows that there is still potential for this market to grow. GLI is proud to have been engaged by operators and suppliers to test most of the products and sites that are currently live, or currently in test for Ontario.” Salim L. Adatia
and operators, which GLI, and our cybersecurity division Bulletproof, we’re proud to have contributed feedback on.
Having seen and being directly involved in regulated iGaming rollouts for over the past 21+ years all around the world, from inception idea to launch, I can confidently tell you that the rollout in Ontario was not nearly as challenging for stakeholders as it could have been. Yes, there may be some ups and downs associated with launches, but that’s the case in any new market launch.
Most of the operators and suppliers we work with, many of whom we tested and certified for their launch in other new markets before evaluating them for Ontario, shared with us that overall, they were quite pleased with how commercially pragmatic the jurisdiction was while at the same time being clear and unwavering in the robustness of their regulatory and technical expectations.
Previously, outside grey-market sites weren't subject to any regulations. But now, private operators must register and pay tax in exchange for legal access to the province. IGO shared the province is greatly benefiting from more players choosing to play locally rather than in the grey market. Players appreciate the knowledge that tested measures are in place to protect their finances and personal information.
Getting back to your original question of is the
potential in Ontario still there? Te answer in my view is yes according to feedback shared with me by Operators and Suppliers and the reported market numbers. According to unaudited public IGO reports of market performance since the Ontario iGaming market launched, total wagers increased from $4,076m in Q1 FY 2022-23, up to $6.04bn in Q2 FY 2022-2023. Total gaming revenue in the same period increased from $162m to $267m, and gaming operators increased from 18 (with 31 websites) to 24 (with 42 websites).
At the date of writing this article, there were 69 individual website URLs listed on the IGO website. Couple these increasing figures with the fact that currently, Ontario is the only province in Canada with a license and regulate model that extends beyond the provincial crown-operated lottery within it, and it’s not yet been one full calendar year since initial launch of the market, it follows that there is still potential for this market to grow. GLI is proud to have been engaged by operators and suppliers to test most of the products and sites that are currently live, or currently in test for Ontario.
GLI has always been extremely active and successful in supporting Canada. I am not just saying that because I live in and call Vancouver home. Honestly, we’ve always been at the cutting-edge of industry knowledge when it comes to iGaming, and our experts have been supporting Canadian regulatory agencies and operators in online gaming since their inception into the space.
Beyond Ontario, GLI was the first to conduct successful certifications of online gaming systems in British Columbia, Alberta, Saskatchewan, Manitoba, Québec, and the Atlantic Provinces via Atlantic Lottery Corporation. We were also privileged to provide technical consultancy and support to regulators in each market, including feedback on their technical standards. In Alberta and Québec, the GLI standards for iGaming (GLI-19) and Event Wagering (GLI-33) have been adopted.
We certified the first eCasino platforms in Canada on behalf of British Columbia, Manitoba, and Québec, first interprovincial ePoker platform - “Canadian Poker Network (CPN)” in Canada, first e-Bingo “Canadian Bingo Network (CBN)” in Canada, first Live- dealer gaming site and Instant Win Games online in Canada.
Our ambition in Canada is to continue to support Ontario and the rest of the provinces in their aspirations for responsible and fair, secure, and auditable gaming and entertainment offerings. Come speak with us at the ICE show about how we can help you in Canada and any one of the 480+ other jurisdictions we certify for. You won’t regret it!
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