Financial analysts in the US expect the newly legal Canadian betting business in Ontario to be led by online bookmakers that used offshore servers and foreign licences to get around the law since the early 2000s.
Yahoo Finance Canada said that Ontario Premier Doug Ford is offering a penalty-free "businesslike transition" to internet sports books and gambling platforms that had previously operated outside of the law.
The Ontario authorities wish to capitalise on the legalising of betting in the province. It means that the companies must first gain approval form the Alcohol and Gaming Commission and iGaming Ontario and then those companies would be effectively cleansed and able to compete openly on the new regulated market.
It is estimated that the new Ontario market will be worth $2.36bn by next year.
