With a population of 14.2 million, Ontario would be the fifth most populated US state behind California, Texas, Florida and New York, making it a highly sought-after sports betting market.
Ever since sports betting became legal in Ontario, Canada on April 4 2022, Ontario sportsbooks have flooded the scene, with seasons shuffling in and out of play.
And for good reason too, Deloitte Canada estimates that the legalization of single-event sports betting could be within reach of CA$28 billion within five years, making it a sports betting powerhouse.
Nevertheless, Canadian punters may be asking the question: wasn't sports betting already legal in Ontario? And are these changes even that big of a deal? Well, that's something Ontario betters need to know.
One year in, how's it going?
It's been over a year now since sports betting became legal in Ontario and it was a profitable one, with an estimated $1.48 billion from the 45 operators and 76 gaming sites.
From these fancy numbers, it's pretty clear that Ontario now ranks among the five largest iGaming jurisdictions in North America, something which may force other provinces to get on board.
And if the numbers were too tough to ignore, then the amount of ads that have been on display during every single break in Stanley Cup games has finally got the attention of the masses in Canada.
It's certainly been a financial facelift for Ontario and the glossy projections seem to be paying dividends one year into sports betting becoming legal in Ontario.
What's The Legal Gambling Age in Canada?
Rules differ from province to province, however, the legal gambling age in Canada is currently 19. This applies to Ontario, Toronto, Ottawa, Mississauga, Brampton, Hamilton, and London. Nevertheless, provinces like Alberta, Montreal, Manitoba, and Quebec allow persons 18 and above to enjoy betting legally.
These same rules apply to online gambling and usually, betters will have to confirm their ages before being allowed access to the sites. This can usually be done by an issued government ID or a recent bill.
Gambling Tax on Online Sports Betting
To make sports betting legal in Ontario there had to be an agreement made with the government and the operators on taxes received. This is a revenue-sharing agreement with the government receiving nearly 20% of revenues in an 80/20 rule split.
The 20% is, however, pushed back into the public sector and the government's involvement helps bring in social responsibility surrounding online sports betting.
New Regulations
With the success of legalizing sports betting in Ontario, it's likely other provinces will look at the model provided to try their own hand and bringing sports betting to their vast markets. Ontario has proven to be a commercially friendly place for sports betting, however, it's not been completely plain sailing for the province in the sports betting world.
New regulations will come into play in February 2024 regarding Ontario sports betting, with the province choosing to ban the use of athletes in advertising for online gambling. The new regulations were said to have been made to reduce the appeal of gambling to minors, who may have been encouraged to take part in sports betting after seeing a celebrity advertising it.
NHL stars Connor McDavid and Auston Matthews and hockey legend Wayne Gretzky are just some of the athletes who have featured in promotional sports betting campaigns this year. The new amendments will prohibit Ontario internet gaming operators from using any retired or currently active athletes to promote gambling.
Despite this regulation change in Ontario, it seems there won't be a single set of national standards regarding athletes promoting gambling in advertisements.
