A policy flaw in Ontario’s self-exclusion system has prompted swift action from the province’s regulatory body, the Alcohol and Gaming Commission of Ontario.
Bettors can take advantage of the loophole in question by self-excluding from one sportsbook, withdrawing money from that account, and then using that money to place wagers at another sportsbook. Players have been abusing this loophole to save money by canceling bets before they’ve even been placed.
Sticking to the guidelines
All Ontario regulated sportsbooks and internet casinos are required by AGCO legislation to offer a self-exclusion option for Canadian bettors. Those who may have problems keeping their gaming under control can actively restrict themselves from these sites.
When a player requests to be excluded from an online sportsbook, the sportsbook will immediately reverse any and all pending transactions and bets and return any and all cash in the player’s account. The players have taken advantage of the gap thanks to the immediate withdrawal, which is in full compliance with the AGCO’s standards.
Yahoo’s Jeff Lagerquist earlier reported that several operators had complained to the AGCO, asking the regulator to more precisely define “future transactions” under its regulations.
Raymond Kahnert, an AGCO spokesman, has issued a statement saying that the agency is aware of the issue and is gathering additional data to determine how to proceed with policy changes.
In an effort to address the self-exclusion gap, the AGCO aims to roll out a centralized self-exclusion system that will apply to all online casinos and sportsbooks in the province, as Kahnert stated. At this time, there is no confirmed release date for such system, although its debut is anticipated to occur soon.
Ontario’s iGaming sector has enormous potential for the province and the industry as a whole, given the province’s status as Canada’s most populous. It’s no wonder that the biggest names in the online casino and sports betting industries fought for licenses in the province before it opened to the public on April 4, 2022.
The number of companies receiving licenses from the AGCO increases on a monthly basis, with Altenar, PokerStars, and Casumo being the most recent recipients.