While Alberta may seem like a frontrunner, Quebec is also emerging as a contender in the debate over which state in Canada will follow behind Ontario, which implements a regulatory model for online gaming.
Report unveils Ontario game model as solution to Quebec’s budget problems
With Quebec facing budget challenges, the government has granted crown companies, such as Loto-Québec, a total of $1 billion in cash savings. Now, the Quebec Online Gaming Coalition has released a report highlighting the economic benefits of Ontario’s regulatory model. 토토사이트 모음
Chartered accounting firm Mallette conducted an economic analysis of iGaming Ontario in fiscal year 2022-23, its first year of operation. According to the report, iGaming Ontario partnered with the Ontario Alcohol and Gaming Commission (AGCO) and the Ontario Lottery and Gaming Company (OLG) to generate approximately $230 million in revenue for various levels of government spending. In particular, iGaming Ontario contributed at least $145 million annually to the finances of the Ontario provincial government. In addition, online gaming revenue surged 31% during the period.
The Quebec Online Gaming Alliance, made up of prominent industry players such as Betway, Bet99, and DraftKings, sees the potential to recreate Ontario’s success in Quebec. Natalie Bergeron, a spokeswoman for the alliance, highlighted the Ontario model’s profitability and ability to address budget deficits. She emphasized that such a regulatory framework not only generates new revenue but also facilitates the implementation of responsible gaming measures.
Quebec’s gaming sector pressure sparks interest in Ontario’s economic success
iGaming Ontario’s economic impact extends beyond revenue generation. The state has seen a significant increase in GDP, with nearly $1.6 billion added in its first year alone. It has also created more than 1,800 jobs, with an average salary of $103,000, well above the state average.
The Quebec government is facing pressure to modernize its gaming sector, especially given the significant revenue outflow to unregulated markets. A November 2023 report from JioCompli said thousands of attempts were made to access Ontario regulated mobile bookstores in Quebec during the 2023 NFL season.
In December, GeoComply partnered with the Quebec Online Gaming Coalition to actually protect the integrity of the industry and prevent unauthorized access.
Additionally, a poll conducted by the Quebec Online Gaming Alliance found strong support among Quebec-based online gamblers for licensing systems to regulate private sector operators. In light of Quebec’s financial woes and the Treasury Secretary’s request for optimisation efforts by Crown companies, the coalition proposes a regulatory framework similar to that of Ontario.