Canada's first open iGame market for third-party operators in Ontario has been expanding rapidly since its launch, but it has recently rocked the market with the departure of one operator. However, Ontario's Alcohol and Gaming Commission, the market's regulator, said operators exiting the market should also comply with exit rules.

The online gambling and sports betting market first began operations on April 4, 2022, with more than 70 gaming websites operating since. The sector, managed by AGCO and its subsidiary, iGaming Ontario, aims to eliminate grey market operations and maintain a portion of its revenue for the state's economy.

Recently, AGCO reminded us that there are also regulations on how operators officially exit the market. The statement comes after Kulbet recently announced that it would suspend services in the province. As of Wednesday, the operator had suspended its online casino and sportsbook platforms in the province and plans to go completely offline by April 3, 2023.

The regulator said the state's iGaming criteria must be met in all cases where the relationship between the operator and the player ends. This includes scheduled closures and closures. The Commission will also discuss with operators to ensure that the departure does not undermine the soundness of the game industry in the province.

For example, AGCO should process players' funds appropriately, allow players to withdraw funds from their accounts in a timely and accurate manner, and allow users to recover the balance on their accounts if their accounts are disabled.

But the rules for betting settlements are slightly more subjective than the clear rules for refunding money to betters. This could come as bad news for users who have digital tickets to potential future bets that will not be decided until after the operator in the segment is terminated. Coolbet, however, guaranteed that pending futures and pay bets would be nullified and refunded.

Coolbet officially announced its departure from the Ontario market last week. The operator explained that it is prioritizing maximizing profitability and investing capital and resources only in the most profitable regions. But in Ontario, operators are not finding a short-term path to profitability and will focus their efforts on other market opportunities.

However, the iGaming industry, which is still a regulator, is concerned about the departure of iGaming. Needless to say, many wondered if more operators would follow suit and leave the market because of the fierce competition caused by iGaming's exit, but some in the province were convinced they planned to renew contracts with AGCO and iGO and continue their business.

BY: 에볼루션 바카라사이트