Changes in the Gambling Industry in Canada

Gambling Industry in Canada

For years, Canada has been the grey market for online gambling. While the laws control the companies licensed within the country, the legislation had nothing on the companies registered outside. Officially, it’s up to each province to regulate such activities. So, nothing stopped gamblers from using online casinos based in Europe or other regions. That is until now. Finally, some actions will take place as the country has taken steps to legalize casinos registered in other countries.

A mixed market has existed for decades

The peculiarities of the gambling laws have made it possible for various online casinos to offer their services to Canadian players, no matter where they are licensed. The Federal Government has made no moves regarding private companies. Unclear laws and regulations helped offshore companies to thrive. While the players don’t often feel the difference, billions of dollars left the country without being taxed. It was probably one of the main things that shifted the government’s attention towards the industry.

However, any changes remain inconspicuous and may stay like that later. For example, if you visit the Casino Chan login page, you still can sign into the casino account and bet on their favorite games like before. However, after the pandemic, the need to raise tax funds has driven the country to create its own licensed gambling market. The government is working on legalizing sports betting and allowing private companies to enter the market as long as they pay taxes for the revenue.

Recent changes

Back in 2020, Ontario revealed its plans to open the casino sector to private companies and OLG (Ontario Lottery & Gaming Corporation). Since then, the Alcohol and Gaming Commission of Ontario will control those companies and issue licenses to online casinos and sports bookmakers. Such changes are said to bring over $500 million each year to the Ontario region. If things go smoothly, it’s likely the rest of the provinces will follow this example.

What does it mean for online gamblers?

online gamblers

Canadian players are sure to like this news because they imply the licensed companies will be safe and secure. To obtain a license, an online casino must be legit, fair, and follow security guidelines to prevent data loss. As a result, each gambler will remain confident the website doesn’t have rigged software or is here to steal all money.

There are plenty of other benefits online gamblers are sure to notice. For instance, safe and regulated casinos will follow the law which, in turn, will reduce the harm for players. Problem gamblers will be able to get help from the National gambling organizations that already exist. Online casinos will have to connect to those organizations to prevent gambling addiction.

The only question remains, “When will the Government introduce these laws?”.