New Gaming Market Opens in Ontario

Residents of Ontario have been anticipating the day they could legally place sports bets online. That time is now here. The new market allows bets by those located in Ontario, but pre-existing wagers will not be supported. Ontario is working on a policy on how to handle any players who visit sites or those that are pre-existing members of a site.

As long as players are of the legal age to gamble, which is 19, they will be able to place bets at the newly launched sportsbooks operating in Ontario. To be able to engage in any form of real money betting, members must be physically located within the province. This will be ensured by the use of geolocation software. Residency in Ontario is not required.

This means that players can create and fund accounts while outside of Ontario. However, when they wish to place bets, they must be located in the province to do so. It will be the responsibility of operators to verify the identity of members

Addressing Pre-Existing Players

One of the issues that have arisen is whether pre-existing players can continue to use their accounts and place bets. This subject has been addressed by iGaming Ontario. Any operator that is licensed to provide services in Ontario will have to settle bets that have been made before the player can place any additional bets in the new market.

All new members will be required to create a digital wallet with an operator if they wish to continue betting at the site. Any pre-existing player will be able to access their accounts at the newly launched Ontario sportsbooks. These players can continue to make deposits, withdraw, and place bets, provided they are physically present in Ontario.

Top Brands Enter Ontario

With the legalization of single-game betting, many top brands are entering the Canadian market. There were 16 operators that had already been approved to offer services. These operators must have a valid agreement with iGaming Ontario before going live. The list of operators that have been approved by the AGCO includes:

More than 30 had applied for licensing and those that have received approval must have their operating agreements in place before launching.

There are no strict requirements for any operator to establish their website in Canada. The only requirement stated is that websites must be accredited by the Responsible Gambling Council within 2 years of signing the iGaming Ontario agreement.

As top names like Unibet and DraftKings open their doors to Ontario residents, they are wanting existing players that they must transition to the new Canadian platform and any pending bets will be closed. All operators must adjust their policies to comply with Ontario regulations and expectations.