Ontario is all set to launch the first trusted online casino for Canadian players on 1st December 2021. The operator has already begun applying for a fully functional license on the launch date. To know about the difference between the UK Gambling Commission, Isle of Man Gambling Supervision Commission, and Malta Gaming Authority, dive deep into the article immediately.

What is iGaming Ontario?

iGaming Ontario, along with the Alcohol and Gaming Commission of Ontario and the Government of Ontario is working hard to create a regulated online gaming market to promote responsible gambling for Canadian people. It is created keeping in mind the objectives like customer choice, legal market growth and provisional return, consumer protection, and reduced red tape. They are aspiring to provide the best online gaming experience in a very safe environment. 

What Do Operators Require For Registration?

As per MGA and UKGC license, operators have to undertake KYC or Know Your Customer identity verification and comply with anti-money laundering (AML) requirements for registration or while creating an account for iGaming. Let’s discuss each of the requirements in detail:

Know Your Customer (KYC)

According to the Ontario license, operators can use the following methods for verifying identity:

  • Credit File- Credit File, credited from a Canadian Credit Bureau that is valid for at least three years and has information coming from more than one source are applicable for registration. The id should have an appropriate name, date of birth, and address to pass the registration successfully. All the information should be recorded and retained in the credit file. 
  • Dual Source- The information assembled in the form of the KYC check of operators should be from two distinct sources. A combination of name and address, name and confirmation of a financial account, and name and date of birth should match with the information.
  • Document Verification- The verified document should be current and issued by the government.  It should contain the name and address that matches with the one presented while registering for iGaming. Also, pieces of information such as name, document type, document number, province/state and country of the issue expiry date, and the date of registration should be recorded and retained. 

Anti-Money Laundering

Operators need to carry out traditional PEP, sanction, and adverse media checks to support AML compliance. It is done while monthly ongoing monitoring is conducted in the player’s circumstances. The information provided by the players should be updated. Also, an annual reminder will be sent to them for reviewing and updating their information. 

If you are looking to register for the iGaming Ontario license, you need to have onboarding flows that align with their risk-based approach and specific license. 

The coming month is going to be exciting for Canadian players since the contractual terms of agreement for iGaming Ontario have now been finalized with the operators. So, what are you waiting for? Join with Ontario’s new initiative of creating a legal iGaming market and eliminating existing illegal sites. Ontario gamers are going to have a lot of fun in the coming months.