Plan could mean $100 million in additional revenues for the province
Ontario will join a growing list of provinces that have adopted online gambling. The Ontario Lottery and Gaming Corporation (OLG) announced Tuesday that it will set-up an online gaming program by early 2012. Finance Minister Dwight Duncan promised the plan will roll-out in a “prudent manner” and said it may become a source of revenue for the province, which is currently running a deficit of $19.7-billion. It’s been estimated online gambling could net the province $100 million or more in annual profits within five years of being set up. According to the OLG, Ontarians spend approximately $400 million each year in unregulated online gambling.