An expansion of online gambling would generate new revenue for the government at a time when spending and deficits are soaring because of the pandemic. It would also fulfill a pledge Premier Doug Ford made in last year’s provincial budget to “establish a competitive market for online legal gambling.”
Finance officials declined to give specific timing for regulatory changes. “Over the coming months, the government will work to develop a new model for online legal gambling to help foster an exciting gambling experience,” said spokesman Scott Blodgett. “Financial details will be determined once further work has been undertaken.
“About 18 per cent to 20 per cent is what’s floating around within the industry,” she said. That would work out to $100 million to $110 million in tax revenue for a province that’s projected to have a $38 billion deficit this year.Article content continuedIn the longer term, there’s also potential to cash in on single-event sports betting, currently prohibited under Canadian criminal law. If that type of gambling were legalized, revenue would swell to $1.47 billion for Ontario, Kilsby said.
There is already evidence that online gambling results in higher rates of problem gambling, said Nigel Turner, an independent scientist with the Institute for Mental Health Policy Research at Canada’s Centre for Addiction & Mental Health.Article content continued