Canada is a country with a unique blend of urban modernity and natural beauty. From the freezing tundra of Nunavut to the glass and steel skyscrapers in Toronto, the globe’s second-biggest country, when it comes to the total area, has a lot to write about.
This sense of Canadian pride also applies to their thriving gaming industry, as well as the gambling laws put in place to keep it running effectively. While other countries across the globe swing wildly from an extreme to another on the issue of gambling, the lawmakers and citizens of Canada have managed to maintain an even-handed technique despite the appeal of easy money.
In the majority of cases, the laws have remained flexible, keeping in consideration the welfare of Canadians at all times. Besides, the internet has resulted in an explosion in the gambling industry.
Still, what are the reasons why online gambling in Canada has taken off? All this is discussed in this article.
The Gambling Market in Canada
The international gambling market is currently worth billions of dollars. It is even anticipated to gain over $500 B by 2023. So, it is among the continuously growing industries worldwide.
Canada is now among the top ten nations with the highest gambling rates out there. Besides, online gambling is becoming a big trend internationally.
As seen on NetNewsLedger, Canada doesn’t seem to have a specific stand when it comes to online gambling. It seems that this practice has been socially accepted in the country. However, legally, things are entirely different.
Canada’s Criminal Code clearly indicates that non-state licensed operators have been banned from taking bets from Canadians online. However, regardless of this law, Canadians still have the freedom to access off-shore online casinos, bookies, bingo places, and poker rooms.
The History and Prevalence of Gambling in Canada
The growth of the Canadian gambling industry was noticeable during the post-recession period, which happened from 2012 onwards. Gambling through online casinos, land-based casinos, lotteries, online and land sportsbooks, as well as many more, all increased in the past eight years.
The territory with the highest number of gamblers in Canada is Ontario. As a matter of fact, it has been listed as the top territory with the highest gambling revenue countrywide. Ontario’s CAGR is at 28.1%, Quebec’s is at 20.3%, and British Columbia`s is at 24.6%.
However, Quebec is quick when it comes to the increase of revenues, with its revenues rising by approximately 2.12% annually. This resulted in the territory generating over 3 billion Canadian dollars in revenue annually.
That is the largest and well-established structure when it involves online gambling in the nation. However, it is only because Quebec is the state that is being followed when it comes to laws on gambling.
Lucian Marinescu, a partner at OnlineCasinoGems, said, “Provinces such as Saskatchewan, Manitoba, and Alberta, are basically looking to follow Quebec when it comes to gambling laws. However, it mostly seems like they are headed for online gambling. This is because a lot of land casinos are getting rejected within the country.”
So, what has led to this increased growth in online casinos?
Flexible Online Gambling Rules
Despite the revenues earned by tons of off-shore casinos from gambling, the government still hasn’t solidified the legislation of online casinos in the country. A lot of online casino operators and players in Canada are still in the grey, regarding this issue.
So, unlike in other countries, Canada has very flexible gambling rules. As compared to the US, their laws are way more flexible. Thus, this provides Canadians with a lot of options when it comes to gambling, allowing the industry to keep thriving.
Canada has made use of a decentralized approach when it comes to gambling generally. Each territory or province is given the freedom to have their own laws in regards to gambling within the borders.
Stricter Rules for Land-Based Casinos
According to the New York Times, there are so many casinos and activities to check out in Montreal, Canada. Still, rules on opening and operating a land-based casino in Canada are pretty strict. With so many limitations put in place to manage such a casino, and with a lot of land-based casinos in the country closing down, most investors are opting for online casinos.
As stated above, there are no particular regulations for online casinos, making it very easy for investors to open up online casinos. Besides, so many land-based casino projects are beginning to receive rejections in the country, making it less favorable to invest in, explaining the shift to online gambling.
Convenience and Ease of Access to Online Casinos
According to CNN, Canada has been experiencing a technical boom these years, and many industries benefited from the latest tech advancements. One of them is gambling. This industry in Canada is mostly characterized by a move from conventional gambling activities to online gambling.
This makes total sense since online gambling is the biggest sector in the Canadian gambling field. The convenience and ease of access to the internet and mobile devices is the main reason why online gambling in Canada is thriving.
Besides, it has been noted that land-based casinos’ revenues are lowering every year. Annually, the online gaming industry in Canada generates roughly 31 billion dollars, and this includes online casinos as well. These include blackjack, keno, baccarat, roulette, video poker or pokies, table games, slots, card games, and live dealer games.
Modern Technology in Online Casinos
In addition to convenience and easy access, a lot of online casinos showcase contemporary ways of playing popular casino games. The growth in technology is what mostly helps casino software providers improve their game.
Popular casino software providers in the country include PlayTech, NetEnt, Microgaming, and Real Time Gaming. They will offer lots of ways for playing casino staples, including Slots, Blackjack, and Poker. With such incredible advancements in technology, including mobile technology and virtual reality technology, online gambling in Canada will thrive even more.
The Increase of Online Gambling in Canada
Online gambling keeps taking Canada by storm, and this has been as a result of a couple of factors, including advancement in technology, flexible gambling rules, etc. So, this has made the country among the top ten gambling countries worldwide. With such favorable conditions for the gambling industry, it is expected to thrive in Canada even further.