Yesterday, was the launch of online sports betting in the Province of Ontario in Canada. For Ontario sports betting lovers, this was a huge celebration as it allows them to place any kind of sports bets they want. In addition, it took away from the gambling monopoly the Ontario Lottery and Gaming Corporation (OLG)had in the province. However, there are some concerns from the 29 land casinos. Will Online Bookies Destroy Casinos in Ontario is their big concern as their gambling supremacy is now over.
So far, over 2 dozen gambling operators got an online gambling license to operate in Ontario. Some of the operators from Pay Per Head Bookie operators to big name brands include BetMGM, FanDuel and bet365. However, many more are still awaiting one.
The AGCO is working hard to get everyone that wants an online gambling license one. However, many were not able to obtain one and began operation by April 4. The AGCO expects Ontario’s new iGaming market to “steadily expand in the week and months following the market’s launch”.
Will Online Bookies Destroy Casinos in Ontario – The Facts
Some people thought that sports betting in Canada was already legal before April fourth, 2022. While that is true, the only type of legal sports betting in Canada were parlay bets and horse racing. Needless to say, legal online gambling in Ontario is a historical event for Canada. This is why, how they do is under the scrutiny of every other province in the country. Online Bookies in Ontario are the ones paving the way for the rest of Canada.
While Pay Per Head companies, gamblers and online gaming operators are happy, others are not. We are specifically talking about the current casino industry in Ontario which includes Great Canadian Gaming. This is because they have the largest share of the casino Market in Ontario and have seen a lot of losses recently.
Canadian politicians see legal online sports betting as a way to boost key industries which include land casinos. Especially because of the losses taken due to the COVID pandemic. However, many of them do not see it that way. Great Casino Gaming are predicting that land casinos will cut around 2,500 jobs due to weaker revenue.
They believe that it will lead to a loss of jobs that support land casinos. Specifically, food and service jobs in land casinos. It is is true that online sports betting sites will provide more job opportunities. However, it is more for white collar jobs in the IT sector.
If land casinos want to compete, they will have to create in-person betting experience that benefit other types of games.