Ontario made history in April, 2022, when it became the first province in Canada to regulate iGaming, which had previously been a gray zone legally in the country. (Gambling is illegal in Canada, unless it is specifically regulated by a province not to be)
The following are important facts to know about this jurisdiction, if you are considering regulating your iGaming business in Ontario:
- The tax rate is 20 %.
- The supervising regulator is iGaming Ontario (iGO), which is a subsidiary of the Alcohol and Gaming Commission of Ontario (AGCO).
- The games allowed under the license are: online casino games, sports betting and online poker.
- The regulatory fee is $100,000 (CAD) annually as of 2022 per gaming site, and the fee must be submitted with the application.
- There are one or two-year options to choose from.
Responsible gambling requirements
The operators must fulfill certain requirements when it comes to offering players the option of setting limits on:
- Deposit limits
- Loss limits
- Time limits
As well as providing a voluntary self-exclusion program, have routines and procedures in place to detect harmful gambling behavior and offer safe play otherwise.
The operators also commit to not targeting high-risk, underage or self-excluded person with their marketing materials. The staff is also required to undergo training related to responsible gambling.
In order to apply for the license, the operator is required to submit the following documents:
- The Operator Application;
- The Registrar’s Standards Gap Analysis;
- Personal Disclosure for all individuals that work in the company;
- Entity Disclosure;
- Proof of payment of the regulatory fee;
- Any supporting documents needed.
What Porat Group can do for our clients
Porat Group’s experienced legal team is able to assist our clients with the entire regulation process, including steps such as:
- Preparing and obtaining all necessary documentation (including for several different online properties, if needed);
- Informing the client of all requirements on their part, including related to Secure Data and Information Communication Channels, Anti-Money Laundering rules and regulations, Know Your Customer rules and regulations, Customer Due Diligence rules and regulations etc.;
- Preparing all needed agreements and contracts for the operation of the business, as well as documentation outlining the company’s strategy for required measures such as money laundering, fraud, responsible gambling etc.;
- Advising on changes in regulation, both in Canada as a whole, and in Ontario in particular as the iGaming regulation in Canada continues to evolve;
- Advising on compliance related to the above;
- Planning, setting up and ensuring a smooth payment flow for the operation, as well as advising on the various available payment solutions for each client.
Contact us for a consultation regarding if gaming regulation in Ontario or Canada is suitable for your gaming business, as well as to the entire regulation process for those who it is suitable.