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Canada is one of the most liberal countries out there, and people all over the world dream of moving there. But, when it comes to legal Canadian online casinos things are not as liberal as you’d imagine. Almost all of the available online casinos in Canada are based in foreign countries, like Cyprus, the UK, Antigua, and Curacao. It’s illegal to open up online casinos in Canada, but licensed institutions from other regions of the world are allowed.
That being said these laws often change, and it’s entirely possible that domestic online casino websites will become a thing here. This is a nation where people love to gamble and bet on sports. Placing bets on the internet is perfectly legal here, but there are some major restrictions in this department as well. So, it’s not uncommon for Canadians to visit an online casino that also offers sports betting options and place bets that are not available through domestic operators. However, we would all prefer to support our home economy, so let’s see what are the odds of gambling options expending Canadians. Here are some latest changes in regulations.
Gambling Changes That Will Soon Take Effect
Early in April, people in Ontario will have more options for placing single-event bets. This practice was made legal last year, but it was only available with a single operator. This will change once a new gambling market called iGaming Ontario (IGO) is launched. Before this change people were only able to place parlay bets at their domestic gambling sites. As mentioned sports fans mainly used some foreign online casino for Canadian players that had more diverse options.
Operators who want to facilitate single-event bets need to register with the Alcohol and Gaming Commission of Ontario and get permission or an operating agreement from its subsidiary iGaming Ontario. Clearly, it will take some time before each operator meets the requirements, so it’s unlikely new options will start to pop up immediately. Luckily, some of the major players in this industry are ready to go, and they will be live really soon.
Expended Gaming Options
IGO will go beyond sports betting, it will also allow players to play on private online casino websites that host a variety of games. These operators need to meet rigorous regulations, and they will be safe Canadian online casinos. Moreover, they have a profit-sharing agreement with the province, so players are going to support their local economy by spending money on those sites.
Basically, users are going to play on the same online casino sites but now these online casinos will have to comply with Ontario’s authorities. This means they can be held accountable and that they are obliged to keep your personal information safe. Additional benefits include
- Safe deposits
- Obligatory payouts
- Fair odds
- Overall player safety
Basically playing on an online casino Canada regulates, or in this case Ontario, you know that the entity is a legal operator. This will definitely have a positive impact on the potential user base, as more people will join in the fun
Is This a Good Thing for Operators?
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It’s hard to say at this point how operators feel. Clearly, there is a big interest in cooperating with Ontario’s government, but the truth is that users were already playing on some of these online casino websites. More regulations usually mean more restrictions, but at the same time, they get to become legitimate Canadian casinos online platforms. This in term makes them more attractive to gambling enthusiasts, which boosts their growth potential.
Additionally, it’s more likely for the regulators to promote compliant sites, rather than those that operate illegally. So, it’s hard to say exactly how they feel about this, but if their revenue increases overall then it’s a good deal for them too.
These were some of the most recent changes in this market, and they are clearly going to have a massive impact. All in all, people in Canada are thrilled to have access to domestically regulated gambling websites and to have more gaming options. Many other countries have recently changed their position on this issue, and lockdowns are possibly one of the triggers that sparked the change.
These businesses performed exceptionally well during the pandemic and saw massive profits. Moreover, gamers are generally responsible and know how to limit their spending. In other words, a lot of stigmas that surround this hobby are slowly disappearing.