Toronto Mike

The Importance of Regulating Bonuses

The online casino industry is a highly competitive one. That’s a fact that has been highly evident in Ontario since online casinos were legalized in 2022. One way in which gambling companies can attract new customers is the offering of bonuses.

When looking for the best online casino bonus in Сanada it isn’t just a case of opting for the highest amount on offer. Online casinos can offer bonuses that see new players receiving a 100% matching of their initial deposit or free spins on selected slot games. It’s always important to look at the terms and conditions attached to such offers, particularly wagering requirements.

While online casinos believe that the offering of bonuses (not just those received when registering) is a key way to attracting and then keeping customers, it is an area that has proved a difficult one for the new online casinos in Ontario.

The lead up to legalization was a hectic period for the operators that had been granted licenses. Expanding into the Ontario market was an important part of the expansion plans of gambling companies, many from the USA and Europe.

Once the licenses were in their possession, the countdown to launch day began and the details about the welcome bonuses that would be available began to be released. The hope was a good customer base would be in place before the site launched.

Now that legalization has taken place, the Alcohol and Gaming Commission of Ontario have been strict when it comes to advertising bonuses. It was only a matter of months before both BetMGM and PointBet were fined for breaching the regulation that had been put in place.

Advertising bonuses and mentioning ‘free bets’ on the actual online casino’s website is allowed.. It’s also possible to advertise them to customers who have opted in to receive marketing materials. Other ways of advertising bonuses will lead to trouble.

There are also regulations in place that clamp down on advertisements that are not considered to be truthful, mislead players and misrepresent the products they are advertising.

This is an important part of the new online casino industry in Ontario. An unregulated industry is one where consumer protection levels put players in danger of being subjected to online fraud or playing at sites that treat their customers unfairly. Bonuses may well be received but actually being able to withdraw cash once the terms and conditions are met may be very difficult.

Regulation of bonuses available to existing customers is also a key aim of the regulatory body. Critics of gambling express the view that the special offers that are made can lead to players struggling with their gambling behavior to continue playing at the site. It’s a subject that will remain a controversial one that regulators will keep a close eye on.

Author image
About Toronto Mike
I own TMDS and host Toronto MIke'd. Become a Patron.