With the launch of iGaming (the organization responsible for regulating online casinos and esport betting sites) in April 2022 a new wave of online gambling and online sports betting opportunities have now opened up to Ontarians. This has also brought with it understandable concerns around the potential increase in problematic gambling.
In a recent CBC article on the launch of iGaming the CEO of Great Canadian Gaming (a brick-and-mortar casino company) highlighted that physical casinos are taxed at a rate of 55% while online gambling sites will be taxed at 20%. Interestingly, he also noted that this tax break favoring online gambling sites will allow these sites to direct more resources towards advertising. Ultimately, in his opinion it would result in casino visitors moving towards online gambling instead.
I wanted to get your thoughts on how the government should regulate gambling advertisements.
Do you think that the government should regulate the amount of resources these companies can allocate to advertising given the impacts it has on people who gamble problematically?