Since its April 2022 launch, which was big news, Ontario’s regulated internet gaming (iGaming) market has been a total game-changer. Just a few years in, and the province has managed to create a thriving and competitive industry, one that the rest of Canada is trying to keep up with. Ontario’s latest milestone, where its regulated market generated over $7 billion in cumulative gross gaming revenue (GGR), is just another sign of its overall success. This isn’t just a significant number to throw around, though; it’s a serious game-changer in how online gaming is managed in Canada. Ontario’s switch from a government-run monopoly to a fully open and regulated market, where multiple private operators can participate, has essentially unlocked a significant amount of economic potential. What they’ve done so far is an excellent blueprint for other provinces to follow, especially BC, which is still stuck in the traditional monopoly model. BC, looking to the future and Ontario’s success story, should give them a clear idea of what could be waiting in store for them.
The Ontario Model: A Recipe for Success
The key to Ontario’s success was the prudent decision to open up a competitive marketplace instead of leaving things to a lone, government-run website. Rather than having a single state-owned shop, the province pulled back the curtain and welcomed in a whole bunch of seasoned international operators. This set the stage for a dynamic environment where companies were forced to compete for players’ cash by offering a superior product, better technology, and a whole lot more games.
This competition has been the gamers’ dream come true. Players in Ontario now have access to a selection of top-notch, safe, and regulated gaming options to choose from. They can pick from a whole range of different platforms, including big-name global brands like BetMGM casino Canada, each bringing its own unique vibe. The competitive framework overseen by the Alcohol and Gaming Commission of Ontario (AGCO) & iGaming Ontario has also been a real game changer at nudging players away from dodgy offshore sites and into the safety of the local market.
The Economic Impact of a Competitive Market
The CA$7 billion revenue haul is a clear indication of just how significant an economic boost this model is bringing in. That money translates straight into big tax dollars for the province of Ontario, and let’s be honest, that’s cash that can be put to good use supporting public services like healthcare, schools, and infrastructure, which is a direct benefit to every single resident. And let’s not forget, in a more free-for-all environment, all that cash would simply flow out of the country to some offshore outfit, with none of it benefiting the local community.
Additionally, the industry has become a significant job market for high-tech workers in the province. The iGaming sector, in particular, is a substantial employer of software professionals, data analysts, cybersecurity specialists, and various digital marketing professionals. That has helped build a whole new and modern sector in Ontario, which in turn has added another feather to the province’s cap when it comes to being a hub for tech and innovation. However, the economic impact doesn’t stop at the gaming industry itself; it also creates jobs and opportunities in other sectors, such as advertising, legal services, and customer support.
The Current Situation in British Columbia
British Columbia has a distinct approach to online gaming that differs from Ontario’s. The province operates under a monopoly model where the only place to play online casino games and poker is on the government-run website PlayNow, which is owned by the British Columbia Lottery Corporation (BCLC). While the revenue this model generates is a definite plus for the province, it does come with some major drawbacks.
The biggest gripe has got to be the absolute lack of choice available to players. With only one legal option, there’s no competition to push innovation or keep the player experience sharp, so many folks in BC, who’re after a bit more variety and something better, go to the numerous unregulated “grey market” websites that can be accessed from within the province. That means a substantial amount of potential gaming revenue is slipping through the fingers of British Columbia and into the hands of offshore companies, without any of the local economic or tax benefits that could be generated from it.
What Could a Regulated Market Mean for BC?
If British Columbia were to adopt a market system similar to Ontario’s, the potential economic benefits would be substantial. By establishing a competitive framework that invites licensed private operators to set up shop in BC, they could realistically capture a significant portion of the revenue currently flowing into the black market. Taking cues from Ontario’s success is a good bet; it’s fair to say that a regulated BC market could generate billions of dollars in revenue in no time. This would give the provincial government a brand-new source of tax revenue to work with, which they could then allocate towards the things that really matter, such as proper public services, not to mention the new high-tech sector that would emerge as a result. That means jobs, investment, and various other opportunities that would benefit the province as a whole. For players in BC, a regulated market would mean having more options, better products, and, above all, a much safer way to play. You’d have access to the same top-end gaming brands you see everywhere else, but with the bonus of knowing they’re all operating under local rules and regulations. That makes for a whole lot more consumer protection than you’d get from the black market, which is to say, none at all.
