Research indicates that unlike previous years, online gambling has gained popularity in Canada. Previously, the authorities didn’t allow any online gambling sites to operate within the shores of the country. However, currently, you can play online games from sites operating within Canada and offshore websites. Read on to learn how and why online gambling has gained popularity in Canada.
An Overview of the Gambling Industry in Canada
The global gambling industry is estimated to increase revenues to about $ 500 billion by the year 2023. Among the countries that top the list of online gambling, Canada makes it to the top ten thanks to the relaxed laws regarding gambling in the country, unlike other countries like the US that still frown upon online gambling.
Canada earns about $ 31 billion yearly from online gambling. The figure is even expected to rise in the coming years. Ideally, the increase in online gaming for Canadians is attributed to the advancement in technology.
The brick and mortar gambling facilities have, over time, experienced a decline in the number of players and, consequently, the revenue. Canadians opt to play games online because it gives them the convenience to play from the comfort of their homes. Besides, online game developers have provided a variety of options and advancements to entice more players.
There are many resources where you can find details about all matters of online gambling in Canada, such as the Gamblingguy.ca. If you’re a frequent casino player, you need to keep updating yourself because the rules of gambling in the country keep changing.
Which is the Gambling Population in Canada?
The most interesting fact about online gambling in the country is that the numbers of females that use mobile devices for gaming outnumber those of men. However, the males still constitute the most significant number of online gamblers, with about 80 percent, while women only represent about 20 percent of online gamers.
The population of casino players is mainly young career men and women and college students. Understandably, young people have a lot of time they utilize online gaming.
According to statistics, most Canadian men prefer table games and online slots, while women prefer luck games such as Bingo. Generally, Roulettes are the most preferred games in the country. Canadians don’t fear to blow away all their savings on online sports.
Most online gamers in the country admit to playing between 4 pm and 6 pm. The prospects of the games are enticing because the government doesn’t tax returns from online gambling. Besides, most players enjoy tremendous wins in Canada. For instance, the progressive slot jackpot winner of Mega Moolah won $ 7.5 million.
Is it Safe to Play Online Casinos in Canada?
Generally, it’s safe to play online casinos in the country. However, you have to make sure that your data and money are secure. Most people prefer registering with casinos under the Kahnawake Gaming Commission (KGC).
Without any form of regulation, online and traditional casinos can abuse their powers to suit their interests. Besides, if there are no regulations, players can easily get scammed off their hard-earned cash. Sadly, they would have no way to enforce recourse against unlicensed virtual casinos and probably offshore ones.
The Kahnawake Gaming Commission ensures that all casinos input protocols to safeguard the underage and vulnerable populations from exploitation. Yes, the body has put in place regulations such that children aren’t allowed to gamble since they cannot make proper money decisions. Besides, children don’t earn, so where would they get the money to gamble?
The body also ensures that players enjoy a variety of games from licensed operators. Most importantly, the commission prevents any illegal merges between casinos that could eventually lead to monopoly and extortion of players.
All licensed online casinos are required to have proper encryption codes to protect players’ data and money. In the event of a casino or player failing to follow the regulations, the commission has officials who investigate disputes and solve them amicably.
Most importantly, the commission ensures timely payouts to players. Ever heard of unscrupulous casinos that hold on to the players wins for an extended period? Well, if you play from licensed casinos, you won’t experience that problem.
Relaxed payment methods
The other reason why Canada has seen a tremendous increase in the number of online casino gaming is the various payment options for wins. If you’re a Canadian, you can deposit or withdraw money from gambling using PayPal, MasterCard, Visa cards, Entropay, and Neteller.
Canada is a hub for online gaming because players don’t need to convert currencies to play. Yes, casinos accept either Canadian or US dollars. Thus, players are at liberty to either play using Canadian or US dollars, of which players incur no conversion fees. Sounds interesting, right?
Is Online Casino Gambling Legal in Canada?
Online gaming remains a grey area in the country because there aren’t substantiated rules regarding online gaming. Well, as a player, you won’t get into trouble for playing games online. However, the hosting of an online casino is a debatable issue in the country because it’s illegal.
It’s no wonder why there are many Canadian online casinos hosted offshore. However, there are still many locally hosted online casinos. The government has also given the provinces the authority to determine relevant gaming laws within the borders of the regions.
The relaxation of the gambling rules began in 1985 when the government allowed the ten provinces to hold their lotteries. However, despite the devolvement of gaming rules to local authorities, the criminal code that denounces any form of gambling in Canada wasn’t changed. Thus, there still exists a lot of confusion among online casinos.
All the same, the national government has remained quiet regardless of the many online casinos hosted and regulated by the different provinces. Probably, this means that it’s okay for local hosting of online casinos.
The Kahnawake Mohawk Nation that’s located just outside Montreal, hosts most online casinos. The offshore hosting thus provides a loophole for most casinos and players to freely play and cash out their wins.
However, any form of physical gambling within the territories of Canada is legal. Thus, you can physically have any kind of gambling machine where players can come and play. The only murky and unclear situation is online gambling. Ironically, Canadians have shifted to online casinos and almost altogether abandoning brick and mortar ones.
The law also doesn’t tax winnings from players. Therefore, nobody will come after you in the event of a slot win. However, if you consider gambling as a full-time job, then you’re expected to pay taxes. Probably you’re wondering how the government can tell if you gamble for a living.
Well, the trend of your online gambling transactions can determine whether you do it for a living or as a form of entertainment. Therefore, the skill you portray at making real wins, the frequency of gambling, and the amount you win every time could send the taxman knocking on your door.
In summary, online casino gambling is prevalent among Canadians, thanks to the advancement in technology and the availability of smartphones and tablets. Besides, online gambling is fun and convenient for most players. It is safe to play and cash out wins as long as you make sure the casino is licensed and permitted to operate in Canada. The country makes billions of dollars from online casinos, and the figures might increase in the next few years.