According to statistics, Canadians generate around $31 billion from gambling every year. That makes Canada among the top 10 gambling countries in the world, partly due to relaxed betting rules in the country. That’s despite the market’s rough start in the country due to stringent gambling laws.
While Canada doesn’t have a licensing body for online casinos, it’s safe and legal for Canadians to wager at an offshore casino like www.maplecasino.ca and provincial sports lotteries. However, gambling is illegal in some Canadian provinces, but it has continued growing in popularity across the country. Here are a few reasons why casinos are so popular in the country.
Easy Access to lots of Online Casinos
Game diversity is one of the main reasons why this hobby has become so popular in the country. While operators can’t register an online casino in the country, there are hundreds of online casinos incorporated in countries like Malta and the UK, with the games developed by leading developers. That means getting access to different bonuses and promotions, which reduces the overall betting cost.
Most of the sites that operate in the country offer games that are geared towards the needs of Canadian gamblers, which is an added advantage for most players. These games are also mobile compatible, making it easy for players to have fun while on the go through their smartphones and tablets.
Relaxed Payment Methods
When betting in online casinos, Canadians can access various safe and secure banking methods like Paypal, Visa cards, Mastercard, Neteller, and Entropay. Most of these casinos also accept Canadian dollars and the USD, both currencies that are favorable to players in the country. Additionally, the banking methods available to Canadian players guarantee fast withdrawals.
Canadians Love Sports
Lots of Canadians visit sports bars to enjoy sports events and socialize with their friends. That includes games like football, hockey, rugby, basketball, and cricket. The fans also love to wager on these sports events, which they can accomplish through government sports lotteries and online casinos.
Some of the provinces that have government-run sports lotteries in Canada include Quebec, Ontario, Atlantic, Manitoba, British Columbia, Alberta, and Saskatchewan/NW Territories. However, lots of punters normally wager on foreign websites with licenses in Gibraltar, Malta, the UK, Curacao, and other jurisdictions.
Zero Taxation on the Earnings
Online gambling is a grey area and is not regulated enough to be taxed. That means players enjoy maximum returns from gambling without taxation by the government. The government taxes the only way the amount won is if it is declared as the primary source of income by the player. As long as the taxation rule is not applied in the country, the gambling industry will keep growing, and the players will keep ripping big. Apart from the usual land-based casinos in the country, Canadians also enjoy horse racing and sports betting, where the government regulates.
Fascinating Gambling History In The Country
It seems like gambling is in the blood as it was a form of entertainment for the first settlers in the country. The indigenous tribes in the country used to participate in games of chance for fun, and currently, the games are also in existence to date.
The industry suffered a significant setback in the 20th century when gambling was banned entirely in the country. It was not easy to revive the industry to where it is today. In the early 1900s, gambling was meant to raise funds for charity. By the end of the 20th century, casinos and gambling became fully realized in some provinces in Canada.
Disposable Income
Canada is one of the countries with high living standards, with the unemployment rate averaging at 7.64% since 1966. As a result, many Canadians have a disposable income they can use to place bets at casinos. That also means that gambling activities in Canada aren’t antagonized like in many developing countries as players don’t look at these activities as a source of income and financial stability. These players view gambling as it’s supposed to be – a source of entertainment.
Flourishing Economy Courtesy Of Gambling
Some of the most outstanding gambling joints are located in British Columbia, Quebec, and Ontario. Since the land-based casinos are legal, they serve as one of the main tourist attractions generating income for the country, improving the economy. The gambling sites also sponsor some of their favorite sports teams. Most of the things people love about Canada are partly due to the strong gambling industry.
Conclusion
While the gambling industry has become very popular in Canada, only 0.6% of the citizens were found to have a gambling problem in 2018. That’s impressive compared to other countries, as 75% of Canada’s residents have wagered at one point or the other. As a result, the rewards for different forms of gambling are enticing as most of the players do it responsibly.
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