Ontario Hopes that Online Gaming will Generate Much-Needed Revenue

04/17/2012
By Tommie ClarkGoogle

Authorities in Ontario, Canada are looking for ways to increase revenue in the province and have determined that expanding the online casino games industry is part of the answer. The province faces a significant deficit in its budget and believes that gaming could bolster the economy by an additional $1.3 billion annually.

 

Dwight Duncan, Ontario’s Finance Minister, commented at a press conference that the changes would bring the Ontario’s lottery and gaming corporation up-to-date. He said, "We're bringing OLG into the 21st century and putting it on a strong footing going forward.”

 

It is likely that legislation will be passed by the end of this year so that top rated online casinos can be up and running by 2013.

 

Officials have determined that online casino games generate about $500 million in Ontario, but currently the money is being lost to offshore betting sites.

 

In an effort to create and manage online casino games sites that have video poker, video slots, table games as well as lottery tickets, OLG recently sent out requests for proposals to various operators.

 

Asked if he is worried about the possibility that those who can least afford to gamble might be the most likely to spend as opportunities to play online casino games increase, Finance Minister Duncan pointed to Ontario’s "aggressive" responsible gaming programs. "Prohibition doesn't work," he continued, reciting a list of areas within the province where casinos are successful already. "We're in this so we want to make sure we're running it well and the return to taxpayers is solid."

 

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