The Nation of Canada Proves the Leader of Online Casino
Over the past few years, there have been some big deals and huge growth in the online casino industry worldwide. The Canadian market is no exception. The latest figures from the Canadian Gaming Association show that the yearly purchased services total over $14 billion and gross output is sitting at around $31 billion, with the figures expected to soar in the future.
There’s little doubt that mobile gaming has contributed greatly to this upswing, what with the popularity of online mobile casinos in the country, which allow you access your favourite casinos on the go. In fact, Canucks are as eager as ever to play online games like slots, video poker and roulette.
Canada and Regulations Within the Online Casino Industry
The Canadian government follows a decentralised approach when it comes to iGaming regulations. This allows each territory and province to determine their own regulations at state level rather than federal level.
Quebec, for instance, is home to one of the longest-established hubs in the country’s online gaming industry, called Loto-Quebec. Quebec was also the first to allow the issuing of gaming licenses to online operators. The Ontario Lottery and Gaming Corporation was then established and today brings in an annual income of more than $7 billion.
In Manitoba and British Columbia, Canucks can legally play at online casinos due to a regulated site called PlayNow. The net revenues that the activities on the site generate are returned to the Canadian government and put towards important services such as health care, community groups and education across both BC and Manitoba.
What’s more, the territories of Ontario, Alberta and Manitoba are all interested in sharing the success of the country’s online casino industry and are hard at work to moderate the legislation that would allow foreign operators to trade within their territories.
Reports suggest that due to the continuing ambiguity around the legality of online iGaming in the country, things could quickly become an issue for Canadian gamers. For example, since there is hazy legislation combined with non-centralised licensing, players could unwittingly find themselves on the adverse side of the law with no protection, and things could go horribly wrong.
It’s for this reason that Canadian states and territories alike are working together to offer more government-approved online casinos for Canadian citizens.
Popular Casinos in Canada
Canada has a prestigious online gaming development history that’s led to some of the most iconic franchises and therefore some of the best casino games online. One of the oldest establishments in the industry is Cryptologic, which was founded in 1995. The company is located in Toronto and launched its first licensee way back in 1996. After that launch, the company went on to close several big deals with online casinos and online poker rooms.
The company also launched online bingo software that was acquired by the Amaya Gaming Group in 2012 for a staggering $35.8 million.
It’s just the tip of the gaming iceberg. Canada continues to be a major player in the online casino industry with large deals done regularly.