Governments across the globe have taken unique and varying approaches to legalizing online gambling. Canadian casinos online laws differ to those in the US and the US differs from Europe. The UK however, saw great potential in a legal online gambling industry, and was quick to green-light online betting in order to maximize their earnings from tax.
Canada has taken a different approach and has yet to fully regulate its online gambling industry. Each Canadian province is tasked with operating and regulating gambling within its own borders. The federal government does not have any firm rules or regulations regarding private casino online Canada operators.
This lax approach to regulating gambling could be costing Canada significant amounts of revenue. It’s for this reason that Canada should mirror the UK’s approach and fully legalize online gambling.
Considering that the country has adopted progressive policies in many other areas, such as the consumption of cannabis, it only makes sense that Canadian officials should be open to legalizing iGaming and making the most of the earning opportunity it provides them.
Studies have revealed that Canadians spend a whopping CA17.3 billion on gambling each year. This amount is spent largely on lottery tickets, but a significant sum also goes towards online casino gambling. Canadians are able to play at Canadian casinos online because their country has no clear regulations or laws regarding the practice. This lack of regulation sees these players gambling at offshore-operated casinos, as there are no local options available.
An estimated CA$5.7 billion leaves Canada and is funneled into offshore online casinos each year. This figure may also have increased during Covid-19 lockdowns, during which land-based players were forced to enjoy their favorite casino games online.
Canadian authorities will need to follow the UK’s lead if they want to keep their money within the country’s borders. They will need to legalize and regulate online sports betting and casino online Canada games at the federal level in order to ensure that the laws around these activities are clear.
The country would also benefit from establishing a comprehensive licensing regime like that of the UK, in which the government earns billions per year from licensing proceeds. Establishing an enforcement agency for Canadian casinos online would further ensure that locals are protected from unscrupulous offshore gambling sites.
Countries that have fully legalized gambling have reaped myriad benefits. Financial earnings aside, their players are also protected from rogue brands and offered safe, regulated casino gambling opportunities. Regulation also allows authorities to identify and support problem gamblers through dedicated national organizations.