Independent Gambling Control Office Aligns with National Financial Authorities, Declaring Event Contracts Subject to the Criminal Code and Provincial Laws
The Independent Gambling Control Office (IGCO) in British Columbia has officially declared that event contracts tied to sports or entertainment outcomes are classified as gambling products rather than financial instruments. The regulatory update follows guidance issued by the Canadian Securities Administrators (CSA) and the Canadian Investment Regulatory Organization (CIRO), which asserted that sports and entertainment contracts fall outside securities and derivatives legislation.
Exclusive Licensing and Enforcement Framework
In response to the federal guidance, the IGCO reaffirmed that the British Columbia Lottery Corporation (BCLC) remains the sole authorized entity permitted to conduct and manage gaming within the province. Under this framework, BCLC’s platform, PlayNow.com, stands as the only legal online gambling operator in British Columbia, complying with strict standards for integrity, age verification, responsible gambling, and advertising.
The Canadian regulator issued a strict warning regarding unvetted platforms, noting that any online service offering sports or entertainment event contracts to local residents outside of authorized channels operates illegally. The IGCO explicitly stated that products dependent on sports or entertainment outcomes must adhere strictly to the Criminal Code of Canada and provincial gaming legislation.
Broader Regulatory Alignment Across Canada
British Columbia joins other provincial authorities in responding to the evolving national framework. Alberta Gaming, Liquor and Cannabis similarly backed the initial CSA and CIRO guidance shortly after its release, initiating reviews to evaluate how the classification impacts provincial oversight of online gaming markets.
