Ontario Sports Betting Is Changing In 2022 & Here's What You Need To Know
Big things are happening! 💸
Any fans of Ontario sports betting can officially get excited about upcoming changes in the realm of gambling and waging. While single-game sports betting has been legal in Canada since the summer of 2021, the Alcohol and Gaming Commission of Ontario (AGCO) has announced that private sports betting operators can expect to enter the market as of April 4, 2022.
iGaming Ontario (iGO), a subsidiary of AGCO, will be working with the government of Ontario to conduct and manage the province's iGaming market. Private gaming operators that have registered with the AGCO and iGO can operate gaming sites in Ontario as long as they maintain accordance with the Registrar's Standards and Requirements.
That's cool and all, but what does that mean exactly? Well, here are some commonly asked questions that might give you the insight you're looking for.
Is Sports Betting Legal In Ontario?
The short answer is yes. The long answer? Well, thanks to the amendment of Bill C-218, single-game sports betting in Ontario became legal as of August 27, 2021, but it was limited to the government-run Proline Plus. Sports betting was actually legal prior to that, but it was restricted to horse racing.
What's So Important About April 4, 2022?
April 4, 2022 is important because big players like DraftKings, BetMGM, FanDuel and more can operate in the province — which majorly changes the scope that will be available to bettors in Ontario.
How Will Changes In Sports Betting Affect Ontario?
Being the most populated province in Canada, the financial impact this change in sports betting will have is undeniable. Eilers & Krejcik Gaming, a boutique research and consulting firm, predicts that Ontario online sports betting could generate up to $570 million in revenue in 2022, with even larger numbers accruing as the years go on.
Among those and many other things, further legalizing sports betting in Ontario increases player safety and security, and provides the confidence that their money and personal information is protected.
How Do I Place My First Sports Bet?
Well, first you'll need to figure out what kind of sports betting you want to take part in. Do you want to bet on NBA? NFL? NHL?Different sportsbooks will offer different opportunities. You'll also want to check out what promos and bonuses they might offer and make sure the site is reputable. Once you choose the sports betting site or app that's right for you, you can open an account.
What Are The Best Sports Betting Sites?
If you're just starting out, your safest move is to stick with big-player operators that offer legitimacy, quick payment processing and personal information security. Prominent sportsbooks that are expected to join the Ontario market include Bet99, BetWarrior, BoDog and more.
What Is The Legal Age To Bet On Sports In Ontario?
According to Ontario's Gaming Control Act, the legal gambling and sports betting age in Ontario is 19.
Will Ontario Sports Betting Be Taxed?
Rather than taxing the revenue generated from betting on sports, Ontario wants to set up revenue-sharing plans with sports betting operators. Unless you're earning interest on your winnings or are a professional gambler, any winnings recreational players gain from legal gambling in Ontario are tax exempt. This includes winnings from lotteries, casinos and bingo, too.
