In Canada there are two provinces interested in allowing new laws regarding online gaming and betting on the internet. They want to move beyond only regulating this activity, but also in parallel to achieve revenue collection results by taxing these games and letting any usa online casino companies thrive the market in a legal way.
After a successful experiment in the province of British Columbia, Quebec and Ontario are both preparing to receive the 2012 with the news of letting the online casino games industry in their respective territories.
Amaya’s group games, which has operational headquarters in Montreal, has managed to sign a formal agreement to begin offering online gaming in the province of Quebec.
Knowing that the betting market in the province of Ontario is estimated at more than C $ 400 million a year, the gaming and lottery corporation of the province, has established that the potential for tax is over 100 million dollars over the next 5 years.
Such taxes could be collected by the government as a result of taxes on that amount.The OLGC (Lotteries and Gaming Corporation of Ontario, for its acronym in English) has decided to receive offers by operators, of online casino games sites with different options to legally take part in the market, which could begin services in 2012.
What their main task is now is to find out whether these companies can actually perform well in the market, because as seen from experiences in other countries, a licensing error when operators are not prepared may result in negative consequences for industry players and consequently, it affects the country’s image negatively.
According to their spokesperson, the two priorities at the time of judging options will be who can take care of the controlled access to usa online casinos games by minors, and the implementation of actions to maintain control over the origin of funds used in casinos to put off the laundering of money through the means of gambling.
2012 will be an interesting year for new Canadian provinces as they are now legally ready to activate the gaming industry and online gambling in their territories and this will bring new revenue they’re not quite used to yet. Government will have to figure out how to manage and how to use these funds in order to create more wealth and prosperity for the provinces without hurting the payment of already acquired debt.
