Published by Programme B
The Canadian online gambling industry is the second-largest in the world in terms of revenue, behind only the United States. It is at the forefront, according to recent data provided by BCLC Canada. In an annual report by the leading body, BCLC Canada stated that the overall revenue of the Canadian online gambling industry has increased to $2.65 billion per year. Besides that, BCLC Canada estimates that by the end of 2022, the Canadian online gambling market will be worth about $2.5 billion in annual revenue. And it is online casinos that accept Interac that will bring a big part of the money. Such casinos are extremely popular among Canadians and provide endless gambling opportunities.
Obviously, online gambling has become a leading sector of the Canadian economy. BCLC Canada estimates that it contributes billions to Canada’s economy. What is more, it is expected to grow over the next few years. The report found that total revenues for the Canadian online gambling industry are increasing from $1.7 billion in 2018 to $5 billion in 2022. It is the first time that BCLC has presented projections of the growth in the online gambling industry in Canada.
Regulatory Framework
Gambling is a multi-billion dollar industry in Canada, and it’s a market that’s growing by leaps and bounds. The Canadian government has legalized a number of activities that were formerly illicit in Canada. Thus, in late 2016, the Government of Canada introduced legislation, which, amongst other things, would have legalized online poker and sports betting. By mid-2017, the regulatory response to these plans had been postponed.
In the interim, a new, more competitive marketplace emerged for online gambling operators, as well as the development of new technologies that increased the opportunities available to casinos and allowed for gambling on a much larger scale. This changed the landscape dramatically. The number of online casinos has increased significantly. And while it seems to be a problem for novice gamblers, a professional casino review site – KiwiGambling – helps bettors navigate the market easily and find the best casinos in one place.
In fact, the legal landscape of online gambling in Canada is quite complicated. The two laws that we are most concerned with are the Canadian Anti-Spam Legislation and Wireless Device Control (WAC) Act. These two pieces of legislation are designed to govern the activities of online gambling operators and are applicable to both domestic and international players.
Licensing Requirements for Online Gambling in Canada
Online gambling in Canada is legal and is subject to self-regulatory guidelines by the Responsible Gambling Council of Canada. The council is responsible for setting the guidelines and enforcing them. The Responsible Gambling Council of Canada has established the Gambling Act and the regulations under it to address issues such as the conduct of advertising, marketing, and sales. The legislation defines what gambling activities are allowed and what is prohibited in the country. They also describe how gambling operators must protect and safeguard the interests of consumers.
The following is a summary of some of the key requirements for online gambling in Canada:
- The online gaming platforms must be established and operated by a commercial organization;
- They must operate in a secure manner, and customers must be protected from fraudulent activities;
- They must conduct their business in a safe and transparent manner that complies with the law;
- They must not conduct or offer gambling activities for minors;
- They must disclose any risks related to online gambling on their websites;
- They must protect customers by conducting their business in a fair and lawful manner and ensure that they comply with applicable consumer protection laws;
- They must promote responsible gambling in order to protect consumers and the integrity of their businesses;
- They must ensure that all advertisements, information, and promotions contain suitable and effective information that’s clearly understood by their customers;
- They must ensure that all activities are conducted with integrity and that gambling proceeds are not involved in criminal activities;
- They must make certain that the activities they conduct are not harmful to children and do not infringe the rights of third parties.
In addition to the requirements in the Canadian Gambling Act, all online gambling platforms must meet the requirements of the Responsible Gambling Council. Only in this case, an online casino is allowed to operate in the local market. If you are on the other side and are looking for a casino that you can trust, then it is extremely important to make sure that a gambling operator has all the permits, licenses, and approvals in place. By the way, here are the top 5 popular online casinos that gamblers from Toronto like most. Maybe you will find something to your liking there as well.
Conclusion
The Canadian online gambling industry provides a lot of opportunities to both gambling operators and bettors. But to avail of it to the max, it is essential to approach things right. First of all, make sure that you are complying with the law. Find a casino that uses licensed software, has a good reputation in the market and offers quality services. Thus, you can rest assured and enjoy the game to the fullest.
Photo by Julian Bracero