Ontario Sports Betting Legislation – Why Should You Care? — Mississauga Modern Media

In recent years, an increase in the number of Canadians with access to the Internet and smart phones has allowed them to place sports bets with foreign companies.

As the Canadian Gaming Association has stated, due to ease of access, betting on a single sporting event has become a $14 billion a year industry in this country.

Due to the fact that the loser of each bet is required to pay an additional 10% on top of the amount wagered, illegal bookmakers or offshore companies have reaped millions of dollars in annual revenue. Because of this, any bookie or business involved is, on average, guaranteed to make that amount of revenue, regardless of who ends up winning the game.

If the potential gains were instead channeled into government coffers, they can be used for beneficial purposes, such as improving the country’s healthcare system or improving the country’s infrastructure.

Nearly seven months have passed since Ontario’s grand gaming and sports betting business experiment began, and it’s time for former gray market operators to get in or out of the business.

The Alcohol and Gaming Commission of Ontario has set October 31 as the deadline by which these former gray market operators must convert to the regulated market or face penalties from the provincial government.

About Michael S. Montanez

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