When it comes to gambling, Canada is pretty unique. The country banned gambling for many years, and it was only officially legalized in the 1970s. The next decade saw a massive surge in the popularity of gambling, and today it is a billion-dollar industry – but new laws are set to change the world of online betting once again.
Are you invested in the Canadian betting industry? If so, here are four points to know about online betting in Canada in 2020.
Online Betting Is Becoming More Popular
Land-based gambling has been popular in Canada for many years, and the industry is very successful. For instance, during the fiscal year of 2017-2018, the Ontario Gaming Authority made a profit of over $2 billion in Ontario alone, even though the year actually saw a decrease in sales of lottery tickets.
But the situation is changing; online gaming grows more popular every year, and now many land-based casinos are actually losing out on customers to the online market. It is fairly easy to see why this change is happening – online gaming is generally more convenient, as players can place bets from any location (including their home), and they can also bet at any time of the day.
Developing technology has also considerably improved online gaming. There are now hundreds of different betting options to choose from, including classic casino games, live sporting events, and even political campaigns.
The Industry Makes Billions Every Year
You have probably already realized that the betting industry is worth billions each year – but you may not realize just how valuable it truly is. The Canadian Online Betting Industry estimate that they will make around $31 billion in revenue this year, and it is likely this number will continue to rise as online betting becomes easier (partially due to smartphone technology).
There Are Specific Rules Around Sports Betting
It is also important to be aware that there are very specific rules surrounding sports betting. It isn’t possible to place a sports bet at a land-based casino in Canada, but you can place a bet at an online offshore casino.
For instance, you could bet on the Belarus soccer league online if you are a huge soccer fan.
Different Provinces Have Different Rules
Finally, it is important to be aware that different provinces have different rules surrounding gambling. Some provinces haven’t legalized online gambling, but most have – and it is likely that more provinces will legalize online gambling in the future (due to it being such a profitable industry).
Some provinces where online gambling is legal include Quebec, Alberta, Manitoba and Ontario. This means that it is possible for you to gamble online in any of these provinces. If you are unsure if you can gamble in your province, contact your local government to find out more about the local regulations. After all, gambling can be a lot of fun – but it isn’t worth getting into legal trouble for!