Is Online Gambling Popular in Canada
Online gambling has gained a large following over the past year within the region of Canada. Before, gamblers were limited in their access to Canadian online casinos, due to the fact that online casinos were not allowed to operate within the country legally. Of course, now things have much changed in the sense that gamblers can access offshore websites from within Canada instead. Within our article, we will provide an overview as to the reason why Canada has managed to gain such huge popularity when it comes to gambling taken part online. Make sure to continue reading, to get the most updated details on the matter.
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Gambling in Canada: An overview
The gambling revenue all over the world is estimated to turn over 500 billion dollars by the end of 2023. Canada tops the list for making contributions to the revenue of gambling, due to the more related regulations for gambling, unlike other regions within the US for example. Just from Canada alone, yearly there are around $31 billion contributions from gambling towards overall revenue. The increase of gambling year-on-year, is due to the increase of technology that is becoming available. Forbes have projected Canada to be one of the leading countries that will continue to raise their annual revenue gained from gambling, and it is believed that 2023 will be the most successful to date.
Land based casinos on the other hand, did experience a decline in the number of players that they welcomed, including the revenue taken also. Opting to play casino games online seems to be the most reasonable and convenient way to go about it these days, and it is not just in Canada that they have started to pick up on this concept-it is all over the world. Thus to meet the demand of an increased player base, we are seeing software developers for all the best online casino games, make sure they are releasing more gambling and game opportunities to meet the demand No matter how many players there are, the want for gaming and betting opportunities will always increase, alongside the technological advancement for this genre. Canada is no exception to this rule at all.
The gambling population within Canada
The gambling population within Canada, majorly use their mobile phones to gamble from. It is the male population that are more active with online gambling, than females, however females actually gamble more greatly from their mobile phones than the male users of Canada. Canadian men have voted to prefer table games, strategy and online slots, where women have a higher tendency to keno and bingo in particular. Roulette on the other hand is the best preferred game as a whole within Canada alone. When we mention online sports betting, well, that is a different ball park altogether here. Let’s just say that Canadians do not fear losing their cash and ultimately have no limitations when it comes to gambling on sports.
Peak game times within this region take place after work hours, so between 4 and 6pm, and considering that is the peak time within the Canadian player community, Canada actually has a Mega Moolah that plays outside of these hours (surprise, surprise). The Mega Moolah win that took place within Canada, was a total of $7.5 million, which still goes down as one of the largest within history (the largest ever win was 17.8 million).
Safe online casino regulations
There will always be those who speculate on whether or not they should play online casinos as a hobby and pastime. The worries are often mirrored in most people, and that is whether or not financial details and records are kept private and secure. One thing players should keep in mind here is, if you choose to play at a safe site with all the accountability and procedures, you have nothing to be worried about at all here. Ensuring that players make sure to register with casinos under the KGC (Kahnawake Gaming Commission) is a secure way of knowing that you have joined a safe community, as that is the licensing that identifies the site keeping to safe and proper practices. Sites that go under this licensing will be regulated and strictly monitored, to ensure player bases online are safe and satisfied.
The KGC in particular, ensures that all safeguarding measures go underway, in addition to controls against underage gambling and vulnerable population exploitation. Strict regulations ensure that only those of legal age are able to gamble, as gambling money should come with the correct judgement base and assessment of course.
This body will make sure that players can enjoy all the games that the iGaming industry provides, with the correct checks and legitimacy regulation to ensure games are 100% fair and secure to play on. In addition to this, thorough checks when it comes to encryption platform availability is monitored closely too. It is a requirement that casinos make sure their platforms are fully encrypted to the best technology available, to ensure all sensitive data is kept far away from unwanted third parties that wish to compromise this data.
Chilled payment methods
Another reason as to why online casinos are incredibly popular within the region of Canada is the fast-online payment options that are available on hand if players are able to win. If Canadians place a deposit within the casinos using e-wallets such as PayPal, Neteller, Entropay or card options like debit cards, MasterCard etc. payments are directed pretty quickly to meet the demand of the players who will of course want to deposit and withdraw as quickly as possible.
Canada is known as a hub that makes online gambling so much easier, as players can operate in either Canadian dollars or US dollars, without having to do any currency conversions along the process. That just makes the gambling process and everything that comes with it, super easy and ultimately reflects better on player user experience overall. Being able to avoid the incurrence of any currency fees is anyone’s dream really.
Is it actually legal to gamble within Canada?
This is probably a question you are wondering a lot about. However, when defining the gambling laws within Canada, they actually exist within a grey area, meaning as a player this is not certified as a solid rule of yes and no. As an online player, you will not get into any trouble for playing games online, it will all be down to the hosting and platform itself that hold responsibility for the legal services they provide. That is why, if you really want to stay safe and gamble in the most legal way possible, joining a casino that is under the KGC, will make sure that you are completely safe within the process of your gambling. Makes sense?
Many casinos that want to access Canadian players will generally provide their services via an offshore account, just so they can avoid any troubles and problems, yet still operate their gambling services within the region. Gambling through offshore accounts became very relaxed within the year 1985, yet despite the relaxation of the principles and restriction, the criminal code which is involved within gambling, was not actually changed. Meaning this definitely can be defined as more than confusing and complicated, if we say so ourselves, right? The national government still until today has remained silent around the regulation procedures for each of the provinces, so many casinos operate offshore just to keep safe. It is better to remain safe than sorry really, isn’t it?
Brick and mortar casinos in a physical destination of Canada are illegal and that is not about to change anytime soon unfortunately. That is what caused such massive momentum forward, when it comes to online casinos and the abandonment of gambling in real-time and personal to a physical casino site.
Do you get taxed for winnings?
Last thing to cover is the taxing law when in regard to gambling within Canada. You may be surprised to hear that should you win a massive amount from a slot game for example, you will not be eligible to pay any of that towards taxation. If, however you decide to take things full time and actually make this your job, the tables would turn however. You will be expected to pay tax on any wins through gambling as an employment, especially if you are winning regularly and it is not just a one-off thing.
The notion of making a living from online casinos can be seen as impossible really, as gambling is all through the principles of chance, and nobody can guarantee that any strategy can win them a set amount of money-ever. Sure, it helps, but it is not certain really, is it? Making your liability to pay tax on winnings within Canada, not very likely!
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