Gaming is a multi-faceted sector now and has a lot more to offer than just video gaming. A good example of this is the online casino gaming niche which many players like to take part in for fun. This is a fast-moving market that has been enjoying increased exposure in a wide range of places around the world recently.
Ontario is one of Canada’s most well-known provinces, and a great illustration of the rising stock iGaming now has on a global basis. Recent changes to the law in the province led to its iGaming market becoming fully regulated as of April 4th, 2022. As a result of this change, people in Ontario can now legally gamble at licensed online casino platforms.
But what could be next for this province after opening up legislation to allow iGaming?
Flood of New Online Casinos to Wow Players
Even before the official opening of this province’s iGaming sector, there was a flood of top online casinos in Ontario waiting to enter the market, including brands such as Bet365 and FanDuel. As time moves forward, it is only sensible to think that even more internet casino sites will enter the market in Ontario.
While there are no guarantees, the popularity of casino games around the province and the appetite for enjoying them online seems to point to a bright future. If this does occur, the amount of money and new customers in Ontario for iGaming platforms should lead to plenty more trying to take their piece of the action.
Boost for Provincial Funds
Many people in the sector are expecting the legalization of Ontario’s iGaming market to generate huge figures for the province itself. This is easy to understand when you look around at what states in the US have made since legalizing iGaming. Pennsylvania, for example, which has a similar population to Ontario, generated around $500m in gaming revenue during 2021.
It is, therefore, not a stretch to think that Ontario could generate huge revenue figures from licensing fees and taxes applied to online casino sites. With predictions of $800m from the Ontario online gambling market in 2022, it is easy to see the upside for provincial officials. This extra cash should also be beneficial for those living in Ontario, as it could be used for public works/projects.
Land Casinos Could be Hit
There are multiple land-based casino sites in Ontario which have long been popular with visitors and residents alike. In terms of what is next for the province after legalizing iGaming, these land-based casinos could be in for a tough time. This has been the case for other countries that legalized online casino gaming, resulting in a subsequent negative impact on physical casinos.
Once people around Ontario dip their toe into the newly regulated iGaming market and see its benefits, for example, they may decide to give physical casinos a miss. Whether it is a convenience, awesome bonuses, great support, or a variety of games internet casinos offer, many players could decide they prefer gaming online to heading out in person. This could really hit land-based sites around Ontario and lead to falling numbers for them.
Ontario has Become Even More Attractive to Tourists
There is no doubt that this province is a real hot spot for tourism in Canada. Northern Ontario alone attracts over 9m visitors every year! The lack of a legal online casino sector, though, had been a real fly in the ointment for tourism in the province and off-putting for those who might like to play casino games online when on holiday.
This was especially true when you considered Ontario’s location on the US border and the number of US states who have now legalized iGaming. By making online casino gaming legal, Ontario should become an even more appealing place to visit and remain competitive as a tourist destination.
iGaming in Ontario – What’s Next?
In the same way, as many gamers ask if you can play Fortnite on an iMac, online gaming fans in Canada might ask what’s next for iGaming in this province. The simple answer is that the recent regulation of the iGaming sector in Ontario should allow it to flourish and grow over time. With casino gaming being so popular in this part of the country and a variety of new, safe internet casinos to play at, it is easy to see this happening.
This could lead to a domino effect around Canada, with other provinces choosing to open up their iGaming markets as well. This is great news for players in the country, who will have even more choice in how to play top games such as slots.