Ontario May Lose $2.8BN by Legalizing Online Gambling, Says Report
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Ontario's online gambling market holds significant potential. Opening the market will bring benefits for operators and consumers. It will also fuel the province with fresh tax revenue. However, a report commissioned by the biggest casino operator in Ontario warns that the government may lose millions in revenue if it legalizes online gaming.
Report claims that opening Ontario's online gambling market will result in losses for the province. The report was commissioned by Great Canadian Gaming. iGaming operators have questioned the report's credibility. iGambling expert Jeffrey Haas believes that people will continue to use online casinos even if they switch from off-shore to on-line ones. He believes the current market is not going to change. Ontario created igaming Ontario to manage and conduct the internet gaming operations offered by licensed operators. It is estimated that the government will lose CA$550 million ($474 million) annually if the tax rate for online gaming is reduced to 20%.
"If an open-license e-gaming model is implemented in Ontario, e.casino would capture a significant share of the total casino market."
