Canada is a land of booming economy and development. It is one of the most comfortable countries in the world to live in. Casinos, gambling, and the iGaming industry are also worth mentioning among Canada’s various expanding industries. Canada is home to one of the world’s largest gambling communities. Statistics show that there are about 20 million active gamblers in Canada. Canada ranks as the 8th most active iGaming country. The country has very lenient gambling policies, and Canadians enjoy recreational gambling on every now and then. There are a number of interesting facts concerning Canada’s online gambling industry.
Let’s explore the Canadian Online gambling scene in this article.
THE CANADIAN GAMBLING INDUSTRY
Let’s take a look into the Canadian gambling industry before we deal with the interesting facts. The gambling industry in Canada is still in its development. By 2023, the Canadian online casino and gambling industry is expected to generate $500 billion in revenue. As the physical, brick cement casinos face the pandemic’s onslaught, the online gambling industry continues to grow.
In Canada, online gambling is allowed, but there is a catch. Canada does not provide any online casino licenses. So, who can operate casinos inside Canada?
Casinos that have received valid licenses from the following regulatory organizations are permitted to operate legally inside Canadian borders:
- United Kingdom Gambling Commission (UKGC)
- Malta Gaming Authority
- Curacao Gaming License
- Government of Gibraltar
- Costa Rica gaming License
- Antigua and Barbuda gaming license
Canadian gamblers are regular visitors to these offshore online casinos. Because of the surge of Canadian gamblers, offshore casinos have added Canadian currency to their list of accepted currencies. Canadian players have access to more than 200 offshore casinos at the moment.
THE DEVELOPMENT OF THE IGAMING INDUSTRY IN CANADA
There is no national regulating body in Canada that provides licenses to online casinos. Despite the fact that this law is very much potent, many offshore online casino servers are located inside Canada’s borders. The majority of offshore online casino servers are located in Kahnawake, which is part of Canadian territory.
But don’t worry; everything is done legally. The Kahnawake Gaming Commission, which was founded in 1996, is a gaming regulatory body in Mohawk Territory, Canada, that permits online betting and gambling. The Mohawks are known to have jurisdiction over their territory. This establishes that they are free and legal to operate all of their businesses, including online gambling and casino activities.
Over 50 online casinos have been licensed by the Kahnawake Gaming Commission. Over 250 offshore gambling websites are regulated by this organization. The Kahnawake Gaming Commission has made a significant contribution to Canada’s iGaming industry’s growth and development.
INTERESTING FACTS ABOUT ONLINE GAMBLING IN CANADA
Gambling has been an age-old tradition in Canada. Gambling on Canadian land dates back to the pre-colonial period, before the arrival of European settlers. Gambling was practiced by the indigenous population of the land. They played a game called “Slahal” with sticks and bones. Within Canada’s indigenous community, the game had a lot of spiritual and social significance.
Gambling and casinos have come a long way since then. Here are some interesting tidbits about the online casino industry.
Because Canada lacks a national gaming regulatory body, all legal online casinos are based offshore. The act of gambling is not illegal in Canada, and no one has ever been prosecuted for gambling online. Canada is also progressive regarding its taxation laws. No one is required to pay additional taxes on their gambling winnings. The earnings from numerous online casinos are totally tax-free for recreational gamblers. The Canadian government aims to make the casino experience enjoyable and rewarding for all the customers involved.
GAMBLING AS A PASS-TIME ACTIVITY
In Canada, gambling is considered a recreational activity. Unlike in other countries, gambling is not regarded as a serious activity, but rather as a pastime enjoyment. In the gambling industry, there has been a noticeable shift. People are increasingly preferring online casinos over land-based casinos. Online casinos are less expensive and may be accessible at any time and from any location. As a result of this shift, casinos are now considered a pass-time activity.
In Canada, online gambling is not just a source of entertainment, but also a significant industry. Canada’s online gambling industry has generated around 135,000 full-time jobs and has a net worth of more than $15 billion.
Canada’s online casinos provide a wide range of gambling options. Every option is available to suit the taste of the customers, from traditional card games to poker and slot games. According to recent demographics, casino slot games, particularly penny slot machines, have grown in popularity among Canadian gamblers. Because of their bright visuals, exciting themes, and attractive background music, slot games are a fan favourite. Slot games do not require a high level of skill and are easily accessible to new players.
According to CasinoValley’s research, men and women in Canada are equally interested in gambling.
Female gamblers have also been found to be more pro-online gambling. Almost half of all female gamblers choose online casinos that they can access through their mobile devices.
While land-based casinos are facing a significant decline in popularity and revenue, online casinos are growing in popularity every day. During the darkest days of the pandemic, online casinos have played an important role in spreading happiness among the gambling community.
The Canadian gambling community has embraced the concept of online gambling with an open heart. Game developers and casino regulatory authorities are constantly improving themselves in order to provide the greatest possible experience to all gamblers.