Wednesday, August 11, 2010

A Handle Free Fall In Ontario? Bet on it - Online

In a piece of very-not-surprising news, the cash-strapped Ontario government looks to gambling to grab some revenues. It was announced that they are moving into "the online realm" and plan on operating (like BC) an online gambling portal.

"Across Canada and around the world, online commerce is part of our everyday lives and OLG is excited to start the consultation process for online gaming and growing its marketplace in the future," OLG Chair Paul Godfrey said. "OLG's internet gaming program will stress responsible gaming while providing an enjoyable experience for Ontario players."

Welcome to a massive loss of horse racing handle, coming soon to a track near you.

Although, I do like the "we'll stress responsible gaming" line. That is always good for a chuckle.

Currently, Ontario players can play sports, however it is with Pro-line. It has not done overly well, even with a monopoly. Although they have lowered takeout in recent years because people wise-up, it still is not doing the job. Pro-Line makes you pick parlays, and the odds, well to use the vernacular - suck.

We can hope that governments do what they tend to do when they get into something the private market does better - blow it. Maybe we will see the following:

Toronto Blue Jays -130
New York Yankees -170

If so, it will go bankrupt.

Otherwise, we're in huge trouble.

1 comment:

Pacingguy said...

Some good may come of this. Those who have been refusing to sign up on Standardbred Canada's Ontario development plan may think twice and commit to it.

The dairy cow is starting to dry up. Time to wean yourself off the cow before you die of thirst.