Online gaming could mean $500 million for Ontario

[The Buzz]

Ontario Premier Dalton McGuinty's administration has been exploring the idea of legalizing online gambling in the province, according to the Toronto Star. That could mean big bucks for Ontario.

From the Toronto Star:

Government sources said Monday that the bonanza could be an additional $500 million a year on top of the Ontario Lottery and Gaming Corporation’s (OLG) $1.9 billion profit in 2009.

In February, OLG chairman Paul Godfrey, retained by McGuinty to fix problems at the troubling gambling monopoly, said the province had to look online for future growth.

“It’s something that I would explore . . . (because) money is going out of this province to other provinces as well as offshore sites,” Godfrey said at the time.“The fact is that it’s there at the present time all around us.”

[fleaflickerdeb]

This will be interesting in how it affects our Canadian business. Not sure whether it will promote online gambling more or less. The thing is with Ontario you can't bet a single game yet. So sports bettors are still liable to go offshore until changes are made there. Will be interesting to see the payouts for their casinos and poker hands. I suspect there will be no rakeback and very little bonuses available until they get their heads around internet gambling.

[thepokerkeep]

In the Star today....

Legalized online gambling is coming to Ontario and the cash-strapped Liberal government is betting it could mean an additional $400 million a year in revenue.
Ontario Lottery and Gaming chair Paul Godfrey announced Tuesday that the Crown corporation would spend the next 18 months consulting on Internet gambling with an eye to electronically rolling the dice in 2012.

[grem]

More governments wanting gambling is the new trend

[Anthony]

Well sure, it's all about the money, not the morals.

[BeckyCA]

This Ontario move on the heels of BC is really a point of no return on the credibility of online gaming globally, but especially in North America!! The National asked Calvin for his opinion, and here it is...I would have to say I completely agree.

Calvin Ayre likes Ontario Lottery And Gaming’s online plans, doesn’t like baseless accusations

[xiaobao]

This will be interesting in how it affects our Canadian business. Not sure

[grem]

Governments should consult more of the existing online businesses

[pgaming]

This trend is slowly moving across Canada. The province of Manitoba is also considering. I think there is opportunity for all of us one way or another.

Possible few advantages Provincial Online Gaming may have is regulation. Lending its' way to trustworthiness and likely faster payouts.

Far as the technical side off shore will defiantly have the advantage.

Just a thought

greek39

[AmCan]

Unless OLG totally screw up or come up with some stupid rules, which is at least a 50/50 chance, they should destroy the offshore business. There are no taxes on gambling wins in canada, most people will probably feel much more secure gambling there.

Ontario does allow bets on just about everything except individual sporting games, specifically casino games and poker, at their land based casinos. The OLG owns the non-native operated casinos in many cities, most notably Niagara Falls and Windsor, Casino Rama and slots at nearly twenty horse tracks. So, going online is just adding another way to play. There is no "trail to be blazed" over a Provincial owned corporation providing casino gambling.

Off topic to the US, i think the fact that IRS taxes gambling winnings, probably will help the offshore business continue to have a share of business.

[Sol@Incomate]

Do you think the U.S might take a look across the border and make a move as well?

Cheers

[casinobonusguy]

I would like to see the Ontario Government made a deal with a great existing casino software already on line.Maybe next year they will come to CBG Affiliate Weekend lol.

[pgaming]

Do you think the U.S might take a look across the border and make a move as well?

Cheers

I highly doubt it in my personal opinion the U.S sees themselves as leaders not followers. The current administration, way better than the last, reminds the world and citizens we must lead the rest. The U.S may embrace online gambling, one day, but in doing so will lock out other nations. Unlike Canada who will compete the best they can because it would be wrong to do otherwise.

I would like to see the Ontario Government made a deal with a great existing casino software already on line.Maybe next year they will come to CBG Affiliate Weekend lol.

Funny I was thinking the same. After all they will need some help IMO.

greek39

[sparky1]

Judy, please formally invite Dalton and crew. I'd really enjoy having a few choice words with that yahoo..., but you better not ask for any fee's since the Liberals will somehow screw us taxpayers to cover it a few million times over...lol

Better yet, I could introduce myself to him as Mr Buck Naked and proceed to show him particular area's of my nakedness....got any thoughts to which part I'd let him kiss first!.....

[catchingsmoke]

america will crack eventually the moneys too good and if people want to gamble there's always a way round the system anyway.

[davenewgates]

Expect big money as legalized online gambling arrives. But also expect that there are still others that will oppose this idea. Hope that online gambling be passed as a legal activity soon...