Ontario, the most populous province in Canada, has finally opened its doors to online casino operators after years of debate and regulation. The first company to receive a license from the Alcohol and Gaming Commission of Ontario (AGCO) is OctoPlay, a new online gaming platform that promises to offer a safe, fair, and responsible gambling experience to Ontarians.
OctoPlay: A new player in the online gambling market
OctoPlay is a Canadian-owned and operated company that was founded in 2023 by a group of experienced gaming industry professionals. The company’s vision is to create a world-class online casino platform that caters to the needs and preferences of Canadian players, especially those in Ontario.
OctoPlay’s CEO, David Lee, said that the company is thrilled to be the first licensed online casino operator in Ontario and that it is ready to launch its platform in the coming weeks.
“We are very excited to be the first online casino operator to receive a license from the AGCO. This is a historic moment for us and for the online gambling industry in Canada. We have been working hard to develop a platform that will offer a high-quality, secure, and entertaining online casino experience to Ontarians. We can’t wait to share it with them soon,” Lee said.
Ontario’s online gambling market: A long-awaited opportunity
Ontario is the largest and most lucrative online gambling market in Canada, with an estimated 2.5 million online gamblers and a potential annual revenue of $1.5 billion. However, until recently, the province had a monopoly on online gambling, with the only legal option being PlayOLG, a website run by the Ontario Lottery and Gaming Corporation (OLG).
In 2020, the provincial government announced its plans to open up the online gambling market to private operators, in order to provide more choice and competition to consumers, as well as to generate more tax revenue and create more jobs. The government also appointed the AGCO as the regulator of the online gambling sector, with the mandate to ensure the integrity, safety, and fairness of the online gambling activities in the province.
The AGCO launched its online gambling licensing process in July 2021, inviting interested operators to apply for a license. The AGCO said that it received over 50 applications from domestic and international operators, and that it expects to issue more licenses in the near future.
The AGCO’s CEO, Tom Mungham, said that the AGCO is committed to regulating the online gambling market in Ontario in a way that protects the public interest and fosters a healthy and competitive online gambling environment.
“The AGCO is proud to be the regulator of the online gambling market in Ontario. We have developed a robust and comprehensive regulatory framework that sets high standards for online gambling operators and ensures that they operate in a safe, fair, and responsible manner. We are pleased to issue the first online gambling license to OctoPlay, and we look forward to working with them and other licensed operators to provide Ontarians with more choice and convenience in online gambling,” Mungham said.
What to expect from OctoPlay’s online casino platform
OctoPlay’s online casino platform will offer a wide range of games, including slots, table games, live casino, bingo, and sports betting. The platform will also feature exclusive games and promotions, as well as a loyalty program and a responsible gambling tool.
OctoPlay’s online casino platform will be accessible through desktop and mobile devices, and will support multiple payment methods, including credit cards, e-wallets, and cryptocurrencies. The platform will also use advanced encryption and security technologies to protect the personal and financial information of its users.
OctoPlay’s online casino platform will be available to Ontarians who are 19 years of age or older, and who have registered and verified their accounts. The platform will also comply with the AGCO’s rules and regulations, as well as the provincial and federal laws and policies regarding online gambling.
OctoPlay’s online casino platform is expected to launch in January 2024, and will be the first of its kind in Ontario. The company said that it hopes to attract and retain customers by offering a superior online casino experience that is tailored to the Canadian market.
“We believe that OctoPlay’s online casino platform will be a game-changer for the online gambling industry in Canada. We have designed our platform with the Canadian player in mind, and we have incorporated the best features and practices from the global online gambling market. We are confident that our platform will meet and exceed the expectations of our customers, and that we will establish ourselves as a leading online casino operator in Ontario and beyond,” Lee said.
