Ontario iGaming: Time Is Up For Unregulated Operators & Suppliers

Ontario iGaming: Time Is Up For Unregulated Operators & Suppliers cover

Ontario iGaming: Time Is Up For Unregulated Operators & Suppliers

October 27, 2022

Earlier this month, the Alcohol and Gaming Commission of Ontario (AGCO) released important updates to its Registrar’s Standards for Internet Gaming. In the updates, AGCO included a standard that ends the transition period for unregulated iGaming operators and gaming-linked suppliers. This standard establishes that only licensed operators and suppliers operate within the province, ensuring the protection of consumers.

What Does The Standard Contain

“In order to provide affected operators and gaming-related suppliers with sufficient time to comply with this new Standard, Standard 1.22 will come into force on October 31, 2022.

1.22 Operators and gaming-related suppliers must cease all unregulated activities if, to carry out those same activities in iGaming Ontario’s regulated online lottery scheme, it would require registration under the GCA.

Operators and gaming-related suppliers shall not enter into any agreements or arrangements with any unregistered person who is providing the operator or gaming-related supplier with any goods or services if, to provide those goods and services in iGaming Ontario’s regulated online lottery scheme, it would require registration under the GCA.

Note: For greater certainty, and without limiting the generality of any other Standard, this Standard applies to and governs applicants.

What To Expect In The Market

With the transition period coming to an end for unregulated operators and suppliers, there are three things that the Ontario iGaming market can expect:

  1. More Licensed Operators & Suppliers: Unlicensed operators and suppliers can jeopardize their eligibility for registration in the province if they continue with their activities, so the province will see a rise in licensed operators and suppliers working in the market. 

  2. Stronger Consumer Protection: A very positive outcome is the continuous protection of consumers. As more unlicensed operators move towards gaining their iGaming-linked licenses in Ontario, they must meet all the requirements set by the province. These requirements include strong responsible gaming measures and consumer protection components. Through these standards, consumers will be able to have fun with the peace of mind that the platform they are gaming on is being held to the highest standards. 

  3. More Collaborations: With more licensed operators and suppliers moving into the province, it will also create a more collaborative environment. Newly licensed operators will be able to make important partnerships with different affiliates such as payment processors and gaming providers in the province. These collaborations will not only result in revenue growth, but will also help the operators with customer acquisition strategies and support technology growth in the province. 

The transition period will be an important one for Ontario’s iGaming market. It will ensure that Ontario’s iGaming market is fully regulated and only contains operators and suppliers who are fully licensed and meet the required standards set by the province. As a result of this, strong consumer protection, market growth, and innovative collaborations will be expected. 

The Paramount Commerce team is headed to Malta from 14th to 18th November for the 2022 SiGMA Europe expo. So if you want to learn more about our innovative payment solutions or expanding into Canada, speak to our expert team members today:   https://paramountcommerce.com/contact

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