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Ontario to introduce provincially regulated internet gambling by 2012

The Canadian province of Ontario is to join Quebec, British Columbia and the Atlantic Provinces in offering internet gambling according to a statement Tuesday by the provincial minister of finance, Dwight Duncan.
 
The possibility that Ontario would join its sister provinces in regulating online gambling has been on the political agenda for some time, but has become more urgent following strong moves into the sector by the other provinces.
 
Finance minister Duncan said Tuesday that the province will offer online gambling in 2012, harvesting tax revenues that could grow to Cdn$100 million per annum within five years, according to government estimates.
 
The government owned Ontario Lottery and Gaming Corporation will be charged with operating the new venture, and will be specifically tasked with creating a safe and fair environment for gamblers which will exclude problem and underage punters.
 
Supporting the move into the online sector, OLG chairman Paul Godfrey told a news conference: "OLG needs to be current and to keep in tune with the changing needs of our customers".
 
He added that the venture will implement the gold standard in responsible gaming controls and tools, along with best-in-class security to ensure the safety and security of customers' accounts and personal information.
 
Minister Duncan said the new initiative was meant to ensure "the competitiveness of OLG going forward. We know that we're losing about Cdn$400 million per year to offshore websites."
 
Godfrey added: "If we're going to retain Ontarians' money in Ontario, we've got to start doing it now."
 
The online venture has the potential to add Cdn$100 million a year to OLG general gambling revenues, which reached Cdn$1.7 billion in 2009. The Canadian online gambling market has been estimated at Cdn 1 billion a year in some quarters.
 
Robert Murray, manager of the problem gambling project at the Centre for Addiction and Mental Health in Toronto, said while online gamblers represent only a small proportion - about 2.1 percent -- of total Canadian gamblers, the Internet is one of the fastest-growing methods of gambling.
 
Murray said he is concerned that more people will want to try online gambling if they know it is government-sanctioned.
 
"The trick is to balance the need to generate revenue with the social consequences that this expansion of gambling may result in," Murray told CTV News.
 
Minister Duncan stressed there will be safeguards to ensure responsible gambling.
 
"Although Ontario is following many other jurisdictions, we feel that by the time OLG launches its site, it will benefit from best practices and policies in use worldwide," he said.

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Gambling News :

Amaya FY2016 Trading Update - The Montreal-based Amaya online gambling group has issued a trading update covering FY 2016 and improving its forecast revenue and earnings numbers.

Another Mega Fortune Dreams jackpot for Euro 3.5 million - In a statement Friday NetEnt advised that the lucky player is a 62-year-old woman from central Finland who won the seven-figure sum from a Euro 1 stake.

Stanleybet has filed a legal action against the government of Cyprus - Bookmaking firm Stanleybet has filed a legal action against the government of Cyprus, claiming Euro 12.5 million as compensation for what it claims is loss of profits and opportunities, prejudice to image and business reputation and legal costs.

LeoVegas To Sponsor Leicester Tigers - The agreement includes official partner accreditation, media space at Welford Road stadium and matchday tickets and VIP hospitality as well as two pitchside perimeter boards from the 2017/18 season and one for duration of the 2016/17 season.

Optima Information Services iShop - Industry visitors to the recent TVC Bookmakers Trade Fair in Solihull, UK were much taken by Spanish betting technology firm Optima Information Services' iShop product, and the company went on to win the SBC Best Retail Betting Product award with it last month.

Golden Nugget Las Vegas Launches New Betting App - Golden Nugget Las Vegas has unveiled a sports wagering app offering Nevada punters the comfort and convenience of being able to wager from anywhere in the state.

CAGAYAN CHIEF MOVES TO REASSURE LICENSEES - Apparently $4 million is going into improvements of the Authority’s data centre in the Freeport at Cagayan, whilst another $3 million has been earmarked for an upgrade to data infrastructure located outside the Freeport.

New Massachusetts Online Gambling Bill - It seems that every two years (give or take a few months) Massachusetts state Senator Bruce Tarr flights an online gambling legalization bill in the state Senate.

Las Vegas Sands Fined for foreign bribery allegations - #lasvegassands Las Vegas Sands, the land casino company owned by multi-billionaire US mogul Sheldon Adelson, has again had to cough up a stiff penalty for non-compliance with the law.

Libratus AI Program Destroying Human Poker Opponents - #Libratus With 40,340 hands played (about a third of the 120,000 planned) Dong Kim is down $29,506, whilst Jimmy Chou ($113,7728), Daniel McAuley ($141,877) and Jason Les ($186,489) are all carrying losses.

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