AGCO Releases Final Sports and Events Betting Standards

AGCO Releases Final Sports and Events Betting Standards

The Alcohol and Gaming Commission of Ontario (AGCO) has published its final regulatory standards regarding sports betting.

The new standards include changes to the province’s integrity rules and advertising standards, and have been integrated into the AGCO’s existing regulation which was published in July.

The news comes some two weeks after Bill C-218 came into force, lifting the country’s ban on single-event betting.

The Final Changes are Implemented

AGCO has come with clear definitions of certain betting types such as single-game bets, exchange, and teaser bets.

The commission has also updated definitions of integrity monitoring bodies, labeling them as providers of independent services to operators and regulators.

Apart from updating the definitions, the new standards also deal with betting conditions. One notable example is the minimum age required for using sportsbook services. Furthermore, the new standards also ban definitive financial bets.

The new standards also focus on sports betting advertising and promotional offers. As per the new regulation, the sportsbook operators will not be allowed to advertise promo deals containing words “free” or “risk-free” if they’re not previously checked and approved by the regulators.

The Purpose of the New Changes

As per Khalid Ali, CEO of the International Betting Integrity Association, the main advantage of the new standards is the enhancement of betting integrity. By involving operators in the integrity monitoring system, Ali believes, everyone should profit.

This way, the AGCO and sportsbook operators will work together to ensure the betting market remains corruption-free.

When Bookmakers Can Apply for the License?

At the moment, sports betting in Ontario is only possible at provincial lotteries. However, with the release of the final regulatory standards, the AGCO is ready to start accepting applications for online gaming licenses.

The commission has officially started accepting applications on Monday, September 13.

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