It seems that when it comes to gambling, Canada is always playing catch-up to the United States. Just a few months after the US legalized online gambling, Canada has followed suit.
It would be rather easy to assume that this move will likely benefit both countries economically, as well as provide more entertainment options for citizens, while some may even argue that it brings them in line with modern times, having seen the likes of Europe implement a successful gambling industry over a large number of years.
In this blog post, we will take a closer look at how online gambling was legalized in Canada, and what this means for the future of the industry.
Since the early 2000s, online gambling has been a contentious issue in Canada. The Canadian government has been reluctant to legalize it, due to a number of different fears that had been held because of negative things that have been associated with gambling activities.
However, with the US legalizing online gambling in 2018, Canada’s stance on the matter started to soften. In 2019, the Canadian government announced that it would be legalizing online gambling, and would allow provinces such as Ontario to regulate it as they see fit.
This move was met with mixed reactions from the public; some were ecstatic that they would finally be able to gamble legally online, while others worried about the potential negative consequences. This was only going to be a natural part of the process, though, as change can always invoke certain reactions, however it is impossible to deny that there has been a positive outcome since the decision to legalize the activity was made.
So far, the Canadian government has taken a hands-off approach in regard to regulating online gambling.
One way in which the Maple Leaf Country has decided to follow in the footsteps of its southern neighbors is in regard to the way that the industry is being regulated in certain locations around the country.
In the US, we know that the states each have the power of whether to implement legislation and laws. Indeed, Canada has followed suit as they have made provinces responsible for setting their own rules and regulations around it.
There is every opportunity that this could change in the future, as the government may want to get involved in order to ensure that everything is run smoothly. For now, though, it seems like Canada is content to let the provinces handle things as they see fit.
Now that online gambling is legal in Canada, we can expect to see a boom in the industry, and there are a number of reasons why this is likely to be the case.
For instance, now that Canadian online casinos have been fully regulated and are completely safe, there has been a greater number of people participating in this activity as they feel that they are better protected, especially as it involves money that they have earned.
Naturally, this will also lead to a number of positive socio-economic benefits for the Maple Leaf Country, too. With more people gambling online, there will be more money flowing into the economy, and more jobs will be created. Additionally, online gambling will provide a much-needed boost to the tourism industry. With more people visiting Canada to gamble online, we can expect to see an increase in revenue from tourism.
While the US appears to have been able to enjoy some success in regard to the revenues that are being generated from this particular industry, there will be some that will be questioning whether Canada is also able to enjoy the same level of success in the future.
Indeed, there appears to be some rather early evidence to suggest that there will be some positive results in the future, with the industry already appearing to have some success within the country’s most populous province: Ontario.
Of course, the province recently amended the laws and regulations that were already in place via the introduction of the C-218 bill that was passed. This allows punters to be able to enjoy online gambling activities including single-sports betting and iGaming games such as playing at online casinos that include slots and classic casino table games.
As a result of the bill, it is believed that Ontario’s licensed online gaming and sports betting market will generate gross revenues of C$989m within the first year of operation. Indeed, this figure is perhaps rather encouraging given that the Maple Leaf Country has already been able to generate $1.2 billion over the first six months of the year in total.
The biggest question that perhaps remains is whether other provinces will decide to follow suit, as this will truly help us understand whether Canada will be able to match the success that the US has had.
At the moment, each province – Alberta, British Columbia, Manitoba, New Brunswick, Newfoundland and Labrador, Nova Scotia, Ontario, Prince Edward Island, Quebec, and Saskatchewan – is going at its own pace, but it would seem as though each of them are looking to implement some form of legislation (if they have not already) to allow certain online gambling activities take place within its borders.
To summarize, it would be rather easy to suggest that only time will tell how successful online gambling will be in Canada. However, if the US is any indication, we can expect it to be a huge success, especially as the same framework appears to have been utilized, thus giving the Maple Leaf Country a plan and methodology that it can use to its advantage.
With more and more people gambling online, the industry is sure to grow exponentially in the coming years. Who knows, maybe Canada will even become the world’s leading destination for online gambling!