Ontario’s iGaming boom thrives, while Malta’s lotto scandal threatens its rep. Discover how regulation shapes these two gambling industries. (Image by Frank Winkler from Pixabay)
In the world of online gambling, the Ontario iGaming boom is quickly becoming a force to be reckoned with. On the other hand, we are starting to see dents in Malta’s long-standing and trustworthy setup.
Can Malta turn it around? Or will its reputation be so tarnished that operators under its licensing will lose faith?
One licensing authority the MGA can look up to in order to move forward from recent scandals is the Ontario iGaming market home to a host of gambling platforms found on our Canadian live casino review page.
Although it is a relative newcomer when compared to the longstanding Maltese lottery market, the Canadian province has already made significant headway as a regulated iGaming hub. Home to numerous high-profile operators, Ontario’s Alcohol and Gaming Commission offers a welcoming regulatory environment, particularly for European companies looking to tap into the Canadian market.
Before the legalisation of single-game betting, Ontario residents were already spending nearly $1 billion annually on internet gambling. With recent regulatory changes opening up even more opportunities, this number is expected to climb. In fact, Ontario accounts for 60% of the Canadian betting market.
Ontario’s iGaming Market on Track for Explosive Growth
Ontario’s iGaming industry is projected to generate a whopping £1.5 billion in revenue by 2026, securing its position as one of North America’s largest online gaming marketplaces. The new regulations have made the market more competitive and more appealing to online gambling businesses, thanks to an annual tax rate of around 20% – among the lowest in the world.
With a gambling community of approximately 20 million active players, Ontario is a cornerstone of the Canadian market, housing more than one-third of the nation’s population. Despite its smaller geographical size compared to Europe’s largest online gambling hub, the UK, Ontario’s 14 million-strong population has the potential to rival those figures. On a per capita basis, it may even surpass the UK market in value, even if it doesn’t achieve the same gross gaming revenues.
European Companies See Opportunity in Ontario’s iGaming Landscape
The province’s favourable regulatory framework is attracting European businesses seeking entry into the Canadian market. This mutually beneficial relationship bolsters the local economy and allows these companies to capitalise on the growing iGaming scene in Ontario.
As the industry continues to expand, it’s likely that we’ll see even more European and international companies setting up shops in the province. The success of Ontario’s iGaming market serves as a testament to the power of effective regulation and a business-friendly environment in fostering growth and innovation.
A Bright Future Ahead for Ontario’s iGaming Market
All signs point to a promising future for Ontario’s iGaming market. As more players and companies join the fray, the industry will continue to evolve and thrive. With its unique combination of competitive tax rates, progressive regulations, and a growing player base, Ontario is quickly becoming the go-to destination for online gambling businesses worldwide.
Malta’s Lotto Scandal: A Battle Against the Underworld
A recent revelation of an underground lottery ring in Malta has called into question the government’s capacity to enforce laws and curb organised crime. The illegal lotto ring has reportedly cornered nearly 30% of the market share and laundered annual profits amounting to €30 million. These illicit activities are tarnishing Malta’s image as a secure and transparent business destination.
- Rogue Lotto Rings Persist Despite Official Lottery: Even with the existence of an official national lottery operator, illegal lottery rings continue to function in Malta. Mimicking the legitimate lottery by using the same winning numbers and offering tickets with large prizes, these rogue rings undermine the official lottery and exploit mounting gambling debts to devastate local communities. Despite the best efforts of the authorities, these criminal networks remain active across the island, posing a significant threat to Malta’s reputation.
- Potential International Sanctions Loom Over Malta: Although Malta was removed from the FATF grey list back in 2021, the flourishing illegal lottery rings hint at continued enforcement issues. This could result in additional international sanctions, jeopardising Malta’s standing as a safe and transparent business hub. It is imperative that the government takes decisive action against organised crime and bolsters law enforcement.
- Malta’s Urgent Need to Restore Confidence: Malta must promptly address these pressing concerns to salvage its reputation and make the most of its unique strengths. The government should prioritise cracking down on organised crime and stepping up law enforcement efforts to avert further scandals. Failing to tackle the ongoing illegal lottery ring problem could trigger additional international sanctions and further damage Malta’s reputation.
What about live casinos? For now, live casinos appear free of scandal. The operators are not part of the lottery scandal. However, as the Malta Gaming Authority (MGA) has links to the control of gambling and gaming in the country, the lottery scandal could make it appear the country is not in control.
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