Ontario’s iGamimg boom: What’s behind the growth?, Canada Reviews

While many countries are still grappling with the legalization of gambling, such is not the case with Ontario. The process of legalizing gambling started way back in 2003, which explains why this region is miles ahead of others in the iGaming industry. After all, players know that they can easily find a trustworthy site like online casino Ontario and start playing without breaking the law. Moreover, operators know that offering their services does not expose them to legal issues.

However, legalization is not the only factor behind the recent iGaming boom in the region. We look at factors that have shaped this growth from the players’ and operators’ perspectives.

What’s Pushing iGaming in Ontario?

Environments affect how industries operate. If the internal and external environmental factors are favorable, an industry grows. But if the factors are not favourable, the industry can plateau or even fail. So, what environmental factors have been aiding the growth of iGaming?

The Operator-Government Partnerships.

In most regions, the government oversees what casinos do, determining the standards that they must meet and penalizing those that do not toe the line. Ontario follows a different approach. Rather than just offering licenses and monitoring operators, the government partners with the operators, terming them as independent contractors. As such, both parties can play a part in shaping the gaming industry, which ensures that the industry continues growing and players remain protected.

So, why does the government support the iGaming industry?

a. Economic growth. It’s no secret that this industry contributes to fiscal development, be it through winnings, taxes, or investments in supporting businesses. When more money flows into an economy, everyone benefits.
b. Job creation. In a world where unemployment remains a problem, the government understands that the iGaming industry offers a solution. Some people get to work directly with the operators, while others gain employment in supporting industries.

By promoting this growing industry, the government supports regional growth that prepares it for the future.

The Favorable Tax Laws.

iGaming is a lucrative industry. However, taxes can often undermine what operators take home after expenses. Ontario has found a way to ensure that everyone wins. Operators pay an annual tax rate of just 20%. Compared to what other regions charge, this is quite the bargain. It allows operators to focus on innovations that grow their platforms while offering competitive wagers to their audience. Moreover, this also benefits the government as it can enjoy an influx of operators, which translates into more taxes that boost infrastructural development. It is a win for everyone!

The Strict Regulations.

While the government partners with operators, it also sets out strict policies that they must follow to ensure that the industry remains competitive and does not have gaps that can be exploited. One of these has been through the use of KYC requirements. Usually, regulators ask operators to verify customer data through addresses, government documents, and dates of birth. But in Ontario, operators must go a step further to actually verify identity through recent photos and live videos. These measures weed out any people who may not qualify to use the online casinos, e.g., minors. It also prevents the use of the sites for criminal activities such as money laundering.

The Emphasis on Player Protections.

On one hand, the government protects players by ensuring they play with licensed operators who comply with the industry standards. On the other hand, operators protect players by offering them several tools to monitor their playing patterns, as follows:

a. Self-exclusion: Operators allow players to carve out the time and money they can afford to use on games. For example, a player may decide they only want to play for half an hour each day. It helps players have control over their playing so they can focus on other aspects of their lives.

b. Responsible gaming: Operators provide players with numerous resources on how best to enjoy gaming without letting it control their lives. These resources also include how players can tell if they have problem patterns and where they can get help.

As such, the focus is not just on getting people to play. Instead, it extends to protecting them while they are in the gaming environment.

The Increased Marketing Efforts.

You can have the best product in the world. But if nobody knows it exists, you won’t get customers. Operators understand this all too well and, therefore, focus their efforts on attracting and retaining customers. Many of them do this by showcasing their unique games while offering incentives such as bonuses to their target audiences. The use of artificial intelligence has also enabled marketers to segment their customers and deliver more tailored marketing campaigns that bear more results.